Oat based beverages market may show significant growth over the projected timeframe owing to the growing health consciousness among consumers. Increasing consumer inclination towards a healthy lifestyle has fueled the demand for organic ingredients in beverage industry. Organic ingredients such as oats have high nutritional value and presence of beta-glucans which has positive impact on gaining popularity among the consumers.is likely to fuel the product demand.
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Oat based beverages are made from the base of oats and water and are cost effective to produce. These products are the major source of several vitamins and minerals and contains more carbohydrates and fiber than soy and animal milk. Oat based beverages are naturally gluten free and offer vitamin B for optimum health benefits.
Increasing demand for dairy-free alternatives to cow’s milk has urged manufacturers to focus on R&D innovations and offer plant-based milks. In 2017, organic oats accounted for over USD 200 million market which indicates ample opportunities for oat based beverages market to grow. Oat milk acts as a vegan alternative to dairy milk and offers improved immunity and gut health. Rising cases of allergy owing to lactose sensitivity in animal milk along with increasing vegan trend is likely to accelerate the oat based beverages market.
Oat based drinks help in enhancing bone health and significantly lower the blood cholesterol level. These products naturally contain high quantity of beta glucan which offers superior health benefits. When consumed, they bind to cholesterol and reduce its absorption and help in lowering the cholesterol levels in the body. Lack of vitamins in body can lead to weak bones and increase the risk of fractures. The number of individuals affected by osteoporosis in Italy accounted to over 4,722 thousand people in 2017. Oat based beverages are a high source of vitamin B and vitamin D which provide nutrients that promote bone health and reduce the risk of osteoporosis. Increasing health diseases pertaining to consumption of unhealthy food & beverages and growing demand for high-fiber protein drinks is likely to stimulate the market growth.
North America oat based beverages market demand led by the U.S. and Canada should witness significant growth during the projected timespan owing to the growing demand for dairy alternatives and increasing health consciousness among the consumers. In 2018, sales of milk alternatives in the U.S. accounted over USD 1.6 billion which show favorable circumstances for the market to grow in the region. Increasing product innovations by manufacturers to offer heart health, along with increasing demand for lactose free beverages may drive the regional demand.
Europe oat based beverages market size driven by growing demand from France, Italy, UK, and Germany may witness substantial growth during forecasted period. Growing popularity of organic products along with increasing vegan trend is expected to fuel the market demand in the region. In 2018, 16%of new food products launched in UK were declared as vegan and met vegan standards. Increasing adoption for organic ingredients in beverage industry along with rising disposable income has enhanced the purchasing power consumers which is likely to fuel the regional oat based beverages market growth.
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Asia Pacific oat based beverages market demand led by China, India and Japan may witness significant growth owing to rising number of health conscious millennial population base in the region. Increasing food allergies due to the consumption of animal milk has changed consumer perception towards plant based diets which is likely to drive the product demand. Oat production in New Zealand amounted to over 25 thousand tons in 2018 whereas oat exports from Australia amounted to around 550 thousand tons owing to the rising demand due to increasing consumer awareness of health concern related to animal-based protein. Increasing demand of low-fat, multigrain and organic products will stimulate the oat based beverages demand over the projected period. Global oat based beverages market share is competitive owing to the presence of large number of well-established small, medium and major players. Companies like PepsiCo, Oatly, NOSH Drinks, Quaker Oats and Danone are key players in this market.