NEWARK, Del, July 07, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), Global Oat Milk Market is estimated to reach US$ 1,544.3 Million in 2023, with a projected CAGR of 13.7% for the next ten years. This steady growth is expected to take the overall market valuation to around US$ 5,631.4 Million by 2033.
Furthermore, FMI predicts that the United States oat milk market will reach a valuation of approximately US$ 1,272.60 Million by 2033, reflecting its prominence within the North American market. With an expected value share of 22.6%, the United States is a key player in the oat milk industry.
These forecasts highlight the significant growth potential of the oat milk market globally and specifically in the United States. As consumers increasingly gravitate towards plant-based alternatives, the demand for oat milk will continue rising, presenting lucrative opportunities for industry players in the years ahead.
The oat milk sector is going to develop as a result of various factors. These include increasing customer desire for plant-based alternatives, rising health & wellness consciousness, sustainability concerns, and product innovation.
Oat milk has become an ideal alternative to conventional milk due to its high nutritional content. It is widely used for various applications across food & beverage sectors.
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Rising demand for milk substitutes or plant-based milk across the globe is expected to boost the global oat milk industry.
The market is anticipated to expand over the next ten years as a result of constant innovation in products that differentiates the company’s offerings from competitors.
Companies are now investing in research & development to improve oat milk's taste, texture, and nutritional profile. They are experimenting with different attractive flavors like chocolate, vanilla, caramel, and seasonal variations to create a variety of alternatives that capture a wide range of consumer preferences.
Manufacturers also focus on adding functional ingredients into oat milk, such as vitamins, minerals, protein, probiotics, and adaptogens, to improve its nutritional profile and health benefits.
The addition of extra ingredients provides value to plant-based milk for people looking for certain health benefits.
This includes low-sugar or no-added-sugar options, gluten-free varieties, organic or non-GMO formulas, and options for specific dietary constraints, such as nut-free or soy-free oat milk.
Social media and digital marketing play a role in promoting oat milk and influencing consumer preferences. Influencers, online marketing, and user-generated content all increase oat milk's exposure and popularity among the target population.
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Key Takeaways from the Oat Milk Market Report:
- The global oat milk industry size is anticipated to reach US$ 5,631.4 Million by 2033.
- Global demand for oat milk will likely soar at 13.7% CAGR over the forecast period.
- Based on product type, the full fat/regular oat milk segment is anticipated to reach a valuation of US$ 4015.19 Million by 2033.
- By flavor, the natural oat milk segment is anticipated to reach a valuation of US$ 3311.26 Million by 2033.
- The United States oat milk industry is projected to reach a valuation of US$ 1272.60 Million by 2033.
- During the forecast period, the China Oat Milk Market is expected to expand at a CAGR of 5.1%.
“Oat milk represents an exciting opportunity for both manufacturers and retailers due to its versatile applications and rising end-user demand for plant-based beverages. Although challenges still exist around processing techniques, supply chain management, and consumer education, the market is set to expand at a significant rate globally during the assessment period.” - says a lead analyst at Future Market Insights (FMI).
Top Manufacturers and Their Winning Strategies
- Oatly Group AB
- Nestle SA
- Lam Soon
- Alpro
- Califia Farms
- PureHarvest
- Chobani
- F&N Life
- Donene SA
- Urban Platter
- Earth's Own
- Sanitarium
These companies are concentrating on launching new products and brands into the market to meet end-user demand for plant-based milk products. They also use implementing strategies such as advertisements, mergers, partnerships, agreements, acquisitions, and facility expansions to stay relevant in the market.
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Recent Developments in Oat Milk Market:
- In March 2021, Only Earth introduced oat and coconut milk in India to meet end-user demand for milk substitutes.
Get More Valuable Insights
In its new offering, Future Market Insights (FMI) provides an unbiased global oat milk market analysis, presenting historical demand data (2018 to 2022) and forecast statistics from 2023 to 2033.
The study incorporates compelling insights on the oat milk industry based on product type regular/full fat, and reduced fat), flavor (natural and flavored), and format (shelf-stable and refrigerated) across various regions.
Oat Milk Market Segmentation by Category
By Product Type:
- Regular / Full fat
- Reduced fat
By Flavor:
- Natural
- Flavored
- Fruit
- Chocolate
- Vanilla
- Others
By Format:
- Shelf-stable
- Refrigerated
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Engage in a Detailed Discussion with Our Experts - Gain Insights into the Thriving Oat Milk Market@ https://www.futuremarketinsights.com/ask-question/rep-gb-17485
About the Food & Beverage Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 Million + data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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