Oat Milk Global Market Report 2024

Oat milk, a plant-based beverage derived from blended oats, stands as a lactose-free alternative prominently utilized in the substitution of traditional dairy milk for coffee, tea, smoothies, and health beverages. The economic advantage of easily cultivated oats ensures a widespread and accessible availability of oat milk throughout various market segments.

The primary segments within the oat milk market comprise organic and conventional variants. Organic oat milk is crafted through organic methods, ensuring production without synthetic chemicals and the absence of genetically modified organisms. This category encompasses plain and flavored oat milk, with packaging options ranging from cartons to bottles. Oat milk finds applications across diverse sectors, including food and beverages, nutraceuticals, baby food, personal care, and pharmaceuticals.

The oat milk market research report is one of a series of new reports from The Business Research Company that provides oat milk market statistics, including oat milk industry global market size, regional shares, competitors with an oat milk market share, detailed oat milk market segments, market trends and opportunities, and any further data you may need to thrive in the oat milk industry. This oat milk market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The oat milk market size has grown strongly in recent years. It will grow from $2.99 billion in 2023 to $3.25 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. Historical growth can be attributed to various factors including the rise of dairy alternatives, increased awareness of lactose intolerance, innovation in dairy-free product development, widespread adoption in retail and cafes, and shifting consumer perceptions toward non-dairy options.

The oat milk market size is expected to see strong growth in the next few years. It will grow to $4.69 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. Expected growth factors in the forecasted period include clean label appeal, fortified beverages, youth market influence, social media impact, and retail/cafe expansion. Major trends will revolve around plant-based diets, sustainability, veganism, innovation, and increased adoption in retail and cafes.

The surge in the vegan population is anticipated to drive the expansion of the oat milk market in the foreseeable future. Veganism, characterized by the avoidance of animal products, especially in dietary choices, is witnessing rapid growth for various reasons, including weight management, health considerations, and concerns about animal welfare, among others. Oat milk, a plant-based alternative, boasts higher vitamin D content compared to cow's milk, offering a range of health benefits such as promoting bone and dental health, as well as enhancing the immune system. In 2023, as reported by VeganBites, a US-based provider of plant-based content and information, with a projected population of 327 million in the United States, approximately 19,632,000 individuals are expected to identify as vegans. This number is poised to increase in the future. Consequently, the upward trajectory of the vegan population plays a pivotal role in propelling the growth of the oat milk market.

The anticipated growth in the oat milk market is expected to be propelled by an upsurge in health consciousness. Health consciousness, defined as the awareness and active pursuit of choices, behaviors, and lifestyles contributing to overall well-being, is influencing consumer preferences. Oat milk, recognized for its nutrient-rich profile and plant-based advantages, is increasingly favored by individuals embracing a health-conscious lifestyle. Notably, findings from the 2022 Food and Health Survey conducted by the International Food Information Council, a US-based nonprofit organization, revealed a significant increase in dietary consciousness among Americans in May 2022. The survey indicated that 52% of respondents reported adherence to a specific diet or eating pattern, marking a noteworthy rise compared to 39% in 2021 and 43% in 2020. Consequently, the growing emphasis on health consciousness emerges as a key driver behind the expansion of the oat milk market.

Leading companies within the oat milk market are strategically concentrating on the development of innovative beverages that cater to the growing demand for dairy-free options, such as the lactose-free alternative, with the dual objective of addressing specific health concerns and optimizing market profitability. A lactose-free alternative refers to a viable substitute for dairy products, deliberately formulated without lactose, making it suitable for individuals with lactose intolerance or other dairy-related health issues. As an illustration of this trend, in September 2023, Epigamia, a prominent India-based all-natural Greek yogurt brand, introduced the Oat Beverage Classic, a lactose-free alternative designed to provide a flavorful, low-calorie choice. Noteworthy features of Epigamia's oat milk include its unique ability to form micro-foam, enhancing the overall coffee experience and facilitating latte art. Beyond its taste and versatility, the Oat Beverage Classic directly addresses health concerns such as lactose intolerance, diabetes, and PCOD, presenting a wholesome alternative for those actively seeking a dairy-free and health-conscious lifestyle. This strategic focus on product innovation aligns with the industry's commitment to meeting evolving consumer preferences and fostering sustained market growth.

Prominent companies operating in the oat milk sector are strategically prioritizing collaboration and partnerships as part of their business strategy to deliver dependable services to customers. A strategic partnership involves a structured affiliation between two or more commercial enterprises, often established through one or more business agreements or contracts. A notable example of this strategic approach occurred in June 2023 when TH International Limited, a China-based coffee and bakery company, entered into a partnership with Oatly Group AB, a Sweden-based manufacturer specializing in dairy alternatives. Together, they launched a dairy-free ready-to-drink (RTD) oat milk latte product line. This collaboration not only allows TH International Limited to capitalize on the increasing demand for plant-based alternatives in China but also provides Oatly with access to a sizable and well-established distribution network, contributing to mutual business growth and customer satisfaction.

In December 2021, Fazer Group, a Finland-based food company known for its plant-based drinks, successfully acquired Trensums Food AB for an undisclosed sum. This strategic acquisition aligns with Fazer Group's objective of establishing leadership in the Northern European market. Trensums Food AB, a Swedish-based company with a focus on plant-based foods, notably oat-based derivatives, contributes to Fazer Group's expansion and reinforces its commitment to providing diverse and innovative food products in the region.

Major companies operating in the oat milk market report are Rise Brewing Co., PepsiCo Inc. (US), Danone North America, The Quaker Oats Company, The Hain Celestial Group Inc., Chobani LLC, Pacific Foods of Oregon Inc., Alpro NV, Thrive Market Inc., Oatly AB, Califia Farms LP, Earth's Own Food Company Inc., Ecotone SAS, Planet Oat, Minor Figures Ltd., Orgran, Elmhurst 1925 Inc., Natursoy S.L., Vly Foods GmbH, MALK Organics, Rude Health Foods Ltd., Plant Based Products Europe BV, Provamel, Happy Planet Foods Inc. (US), Good & Gather, YooMoo Ltd., Plenish Cleanse Ltd., The Naked Oats Company Ltd., O'Milk Belgium BVBA, A. Vogel Bioforce AG

Asia-Pacific was the largest region in the oat milk market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the oat milk market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the oat milk market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The oat milk market consists of sales of oat milk coffee creamer, oat milk bottled coffee drinks, oat milk ice cream, oat milk yogurt. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Oat Milk Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on oat milk market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for oat milk ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The oat milk market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Source: Organic; Conventional
• 2) By End User: Food & Beverages; Nutraceuticals & Baby Food; Personal Care; Pharmaceuticals
• 3) By Product: Plain; Flavored
• 4) By Packaging Form: Carton; Bottle
• Companies Mentioned: Rise Brewing Co.; PepsiCo Inc. (US); Danone North America; The Quaker Oats Company; The Hain Celestial Group Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.