April 23, 2024
Oat Drink Market

The Oat Drink Market Is Estimated To Witness High Growth Owing To Rising Health Consciousness

The oat drink market has witnessed significant growth in the past few years owing to the rise in lactose intolerance among consumers and growing demand for plant-based beverages. Oat drinks are rich in antioxidants, vitamins, minerals, and fibers. Some key advantages of oat drinks include low fat content, cholesterol-free, high protein quality and quantity, easy to digest, and gluten-free. With changing lifestyles and rising health consciousness, consumers are increasingly preferring nutritious and healthy beverages, thus driving the demand for oat drinks.

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 between 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. These key players are focusing on developing innovative product portfolio and expansion of production facilities to cater to the growing demand.

The oat drink market provides significant opportunities for players to expand in emerging countries and focus on product innovation. The market is witnessing introduction of various flavors in oat drinks along with fortified drinks with added vitamins, minerals, and plant-based proteins.

Technological advancements have allowed production of oat drinks with longer shelf life and consistent taste and quality. New processing technologies help reduce levels of phytic acid in oats which enhances mineral bioavailability. Membrane filtration technologies are being used for clarification and concentration of oat drinks.

Market Drivers

Growing health and wellness trends among consumers is a key market driver. Consumers are increasingly adopting plant-based diets and prefer food and beverages with added health benefits. Oat drinks are considered a healthy alternative to conventional dairy drinks owing to associated health benefits like low fat, high fiber and antioxidant content. Rising lactose intolerance is further propelling the demand for non-dairy milk substitutes like oat drinks.

Challenges in Oat Drink Market
The Oat Drink Market Growth is witnessing challenges due to the influx of various plant-based drinks. The rising popularity of products such as almond milk, coconut milk, rice milk and others is diverting consumer preferences away from traditional oat milk. Moreover, the complex nature of oat ingredients like gluten and higher production costs makes it difficult to produce scalable amounts and maintain profitability. Brands need to focus on innovative product launches, improved taste and texture to change consumer perceptions.

SWOT Analysis
Strength: High nutrition value of oats and proven health benefits such as lowering cholesterol drives demand.

Weakness: Complex ingredients and special production process increases costs.

Opportunity: Growing vegan and plant-based diet trends provide scope for new product innovation and line extensions.

Threats: Stiff competition from alternative plant milks threatens market share. Climate change impacting oat cultivation is a long term threat.

The European market accounts for the largest share in oat drink sales currently due to high awareness and popularity in countries like Sweden, UK and Germany. North America is the fastest growing regional market led by rising lactose intolerance, vegan diet adoption and new product launches catering to diverse tastes.

Geographically, the Asia Pacific region shows lucrative potential for oat milk brands. This is due to increasing health consciousness, growing consumer spending power and westernization of diets in large economies like China and India. brands are setting up new production facilities and distribution partnerships to capture untapped opportunities.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it