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| Oat Drink Market |
The global oat drink market is estimated to be valued at US$741.5 million in 2023 and is projected to grow at a CAGR of 7.8% during the forecast period of 2023-2033, according to a new market research report by Coherent Market Insights.
Market Overview:
Oat drink, also known as oat milk, is a plant-based beverage made from oats. It
is gaining popularity among consumers due to its various health benefits and
environmental sustainability. Oat drink is lactose-free, cholesterol-free, and
low in fat, making it a suitable alternative for individuals with lactose
intolerance or following a vegan or vegetarian lifestyle. Additionally, oat
drink is rich in fiber, vitamins, and minerals, which contribute to improved
digestion, heart health, and overall well-being.
Market key trends:
One key trend driving the growth of the oat drink market is the increasing
demand for plant-based beverages. With a rising number of individuals adopting
plant-based diets and seeking healthier alternatives to traditional dairy
products, the demand for oat drink has witnessed a significant surge. Oat drink
provides a creamy texture and neutral taste, making it a versatile option for
use in coffees, teas, smoothies, and other recipes. Moreover, oat drink
production has a lower carbon footprint compared to animal-based milk
production, aligning with the growing environmental consciousness among
consumers.
Segment Analysis:
The oat drink market can be segmented based on distribution channel and
end-user. In terms of distribution channel, the dominant segment is the offline
segment, which includes supermarkets, hypermarkets, convenience stores, and
specialty stores. Offline stores provide a wide range of oat drink options and
offer convenience to consumers who prefer to physically see and select their
purchases. Furthermore, offline stores often run promotional activities and
provide discounts, which attract a larger consumer base. In addition, offline
stores enjoy customer loyalty due to personalized customer service and strong
presence in local communities. On the other hand, the online segment is also
witnessing steady growth, driven by the rise in e-commerce platforms and the
convenience of doorstep delivery. However, the offline segment continues to
dominate, with higher market share.
Key Takeaways:
The Drink
Market Growth is projected to witness high growth, exhibiting a CAGR of 7.8% over the forecast period
(2023-2033). This growth is primarily driven by the increasing adoption of
plant-based diets and rising awareness about the health benefits of oat drinks.
Oat drinks are rich in nutrients and provide several health benefits, such as
aiding digestion and reducing cholesterol levels. Additionally, the growing
prevalence of lactose intolerance and dairy allergies is fueling the demand for
oat drinks as a dairy alternative.
In terms of regional analysis, Europe is expected to be the fastest-growing and
dominating region in the oat drink market. This is attributed to the high
consumer awareness about leading a healthy lifestyle and the preference for
plant-based products in European countries. Furthermore, the presence of key
market players, such as Oatly AB and Alpro, in Europe contributes to the
region's dominance. North America is also anticipated to witness significant
growth, driven by the increasing adoption of vegan and vegetarian diets.
Key players operating in the oat drink market include Oatly AB, Alpro, Rude
Health, LIMA, Hain Daniels (Brand Dream), Innocent Drinks, Pureharvest, and
Drinks Brokers Ltd. These players are focusing on product innovation, expanding
their distribution networks, and engaging in strategic collaborations to gain a
competitive edge in the market. Oatly AB and Alpro are among the key players with
a significant market share, owing to their wide product portfolio and strong
brand presence.
Read More,
https://www.marketwebjournal.com/oat-drink-market-trends-size-and-share-analysis/
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