by Oat drink, also known as oat milk, is a plant-based beverage made from sprouted oats and water. It offers several health benefits such as rich in vitamins, minerals, healthy fats and dietary fibers. Oat drink provides complete protein by containing all the essential amino acids including leucine, valine, and phenylalanine that makes it a good alternative for consumers who avoid or are allergic to dairy products. Oat drink can be consumed plain or used in coffee, cereal, smoothies and baked goods. The nutritional profile of oat drink makes it advantageous over other plant-based alternatives.
The global Oat Drink Market is estimated to be valued at US$ 741.5 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the growth of global oat drink market is the rising health and wellness trend among consumers. People are increasingly replacing dairy milk with plant-based beverages like oat milk due to perceived health benefits. Oat drink is a good source of beta-glucans that helps in maintaining cholesterol levels and blood sugar regulation. Also, it is gluten-free and contains lower calories than dairy milk. Moreover, growing cases of lactose intolerance and milk allergies has propelled the demand for oat-based beverages. Manufacturers are launching innovative products in different flavors and formats like barista editions and ready-to-drink options to cater to evolving consumer preferences.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the oat drink market requires significant investment to build manufacturing facilities and establish distribution channels.
Bargaining power of buyers: The bargaining power of buyers is moderate as the availability of substitute products provides options to buyers.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of many ingredient suppliers.
Threat of new substitutes: The threat of new substitutes is high as other plant-based drinks such as almond, soy, coconut, and rice milk are easily substitutable.
Competitive rivalry: The competitive rivalry is high among existing players.
Key Takeaways
The Global Oat Drink Market Size is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing demand for plant-based and dairy-free alternatives.
Regional analysis:
North America dominates the global oat drink market and is expected to continue its dominance over the forecast period. Europe is the second largest market. However, Asia Pacific is expected to be the fastest growing market due to changing dietary habits and increasing health consciousness.
Key players:
Cereal Base Ceba AB (Oatly), Oatly AB, Pureharvest, Rude Health, The Quaker Oats Company, Alpro, Drinks Brokers Ltd, Alpro, Paco Laboratories LLC, Califia Farms. Key players operating in the oat drink market are focusing on product innovation and strategic mergers and acquisitions to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
