The Global Oat Drink Market Driven by Rising Demand for Plant-Based Beverages
The oat drink market is gaining huge traction worldwide owing to rising health consciousness among consumers. Oat drinks provide several nutritional and functional advantages over dairy milk such as low fat, cholesterol-free, lactose-free, and a good source of vitamins, minerals, and antioxidants. The milky, creamy texture and neutral taste of oat drinks make them a perfect substitute for cow's milk. Rising vegan and flexitarian trends across the globe are further propelling the sales of oat-based beverages.
The Global oat drink market is estimated to be valued at US$ 854.21 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2030. Key Takeaways
Key players operating in the oat drink market are HSIL Ltd, Cera Sanitaryware Ltd., Roca Sanitario, S.A., RAK Ceramics, Duravit AG, Toto Ltd., Jaquar, Golf Ceramics Ltd., Kajaria Ceramics Limited, H & R Johnson, and Villeroy Boch Group. Oatly, Rise Brewing, Happy Planet Foods, and Pacific Foods are some of the major brands offering oat drinks globally.
The growing demand for plant-based, dairy-free, and healthy beverages is driving the sales of oat drinks across both emerging and developed markets. Lactose intolerance and other medical conditions necessitating dairy avoidance are prompting many consumers to switch to non-dairy beverages made from oats, rice, almonds and other plant-based sources.
Rising environmental awareness and healthy lifestyle trends in Asia Pacific, South America, Middle East and Africa are fueling the global expansion of the oat drink market. Manufacturers are focusing on these high growth regions by launching innovative dairy-free oatmilk products tailored to local taste palettes.
Market drivers
Growing health consciousness, coupled with rising vegan and vegetarian population worldwide due to ethical and environmental reasons is a key driver for oat drinks market. Customers are seeking functional beverages that are rich in nutrients, easy to digest and provide physiological benefits like maintaining bone health, lowering cholesterol levels and managing blood sugar levels.
Current geopolitical uncertainties are posing challenges for the global Oat Drink Market Growth The Russia-Ukraine conflict has disrupted agricultural exports from the Black Sea region, a major producer and supplier of oats. This has led to inflation of input costs like oats for manufacturers. Furthermore, economic sanctions on Russia by Western nations have indirectly impacted trade flows. The conflict is likely to prolong if not resolved quickly through diplomatic means. This protracted geopolitical instability will hamper easy access to key raw material supplies and international trade for the oat drink industry.
Manufacturers will need to devise effective strategies to deal with supply chain disruptions and rising input costs. They may look at alternative sourcing routes and supply bases to reduce over-reliance on the Black Sea region. Companies can explore oat production and procurement opportunities in the Americas and Asia Pacific regions to diversify their supply networks. Transitioning to localized independent production models will help insulate brand operations from geo-political events overseas. Oat drink producers also require to implement prudent pricing strategies to somewhat offset inflationary pressures without significantly dampening consumer demand.
In terms of geographical markets, Europe accounts for the bulk of current oat drink consumption and revenues. Countries like Germany, United Kingdom and Sweden have been at the forefront of adopting plant-based non-dairy beverages. The region’s health-conscious consumers and stringent regulations supporting organic and sustainable products have aided market growth. North America, especially the United States, is the second largest regional market and is expanding rapidly due to rising lactose intolerance, veganism and flexitarian diets.
Asia Pacific is considered the fastest developing geographic area for the global oat drink industry. Rising health awareness, economic growth, western influence and expanding retail chains are driving sales across countries like China, India and Japan. Latin America and the Middle East & Africa also offer immense untapped potential for oat drink sales as more people switch towards nutrient-rich dairy and soy milk alternatives.
For more insights, read-https://www.insightprobing.com/oat-drink-market-trends-size-and-share-analysis/
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