Oats Market Size, Share, Analysis and Growth to 2028

Oats Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Process (Rolled and Steel-Cut), Category (Organic and Conventional), Nature (Gluten-Free and Conventional), Form (Flakes, Flour, and Others), and Application (Food & Beverages, Animal Feed, Personal Care, and Others)

Publication Month : Nov 2021

  • Report Code : TIPRE00019673
  • Category : Food and Beverages
  • Status : Published
  • No. of Pages : 187
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[Research Report] The oats market was valued at US$ 7,764.49 million in 2021 and is projected to reach US$ 9,939.82 million by 2028; it is expected to grow at a CAGR of 3.6% from 2021 to 2028.

MARKET INSIGHTS AND ANALYST VIEW

Oats, scientifically known as Avena sativa, are widely cultivated cereal grains known for their nutritional value and versatility, making them a popular choice for a balanced diet. They are rich in complex carbohydrates, providing a steady release of energy and helping to keep blood sugar levels stable. Oats are also high in dietary fiber, including soluble and insoluble fibers. The growing awareness of health and wellness among consumers has driven the demand for nutritious and wholesome food products. The popularity of oats has extended beyond traditional breakfast cereals. Oat-based products such as oat milk, flour, bars, and snacks have increased. The plant-based and dairy-free trends have contributed to the surge in oat milk consumption as a popular milk substitute. As consumers become more health conscious, they are incorporating oats into their diets, leading to an increased demand for oat-based products. Additionally, food manufacturers have been incorporating oats into various products to cater to the growing demand for healthier and sustainable food options. All these factors are anticipated to drive the oats market growth.

KEY INSIGHTS

Oats market is valued US$ 7,483.84 million in the year 2020 and is expected to grow at a CAGR of 3.6% during the forecast period 2021 - 2028, forecasted to be valued at around US$ 9,939.82 million in the year 2028.

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Oats Market: Strategic Insights

oats-market
Market Size Value inUS$ 7,764.49 million in 2021
Market Size Value byUS$ 9,939.82 million by 2028
Growth rateCAGR of 3.6% from 2021 to 2028
Forecast Period2021-2028
Base Year2021
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GROWTH DRIVERS AND CHALLENGES

In recent years there has been a growing popularity of plant-based diets globally, driven by concerns about environmental sustainability, animal welfare, and health. Oats, being a plant-based food, fit well into these dietary preferences. Oat milk, for example, has gained immense popularity as a dairy milk alternative among vegans and lactose-intolerant individuals, further boosting the demand for oats. In addition, oats are incredibly versatile and can be used in various culinary applications. They can be consumed as oatmeal for breakfast, incorporated into smoothies, used as a flour substitute in baking, and added to various snacks and granola bars. The adaptability of oats in different dishes and food products has contributed to their growing popularity. Furthermore, the food industry has been continuously innovating to meet the demands of health-conscious consumers. Oat-based products, such as oat milk, oat yogurt, oat-based snacks, and oat-infused beverages, have become widely available in the market. The oat milk market has witnessed significant innovation, with various brands offering different flavors and formulations, contributing to the oat milk market growth. Food manufacturers are recognizing the potential of oats as a valuable ingredient to create healthier and more sustainable food options, further fueling the oats market growth.

However, the oats market, like other agricultural markets, is subject to price fluctuations influenced by various factors, including weather conditions, supply & demand imbalances, and changes in production costs. Price volatility can create uncertainty for both producers and buyers, affecting investment decisions and market stability. These factors could limit the oats market growth.

REPORT SEGMENTATION AND SCOPE

On the basis of the process, the oats market is bifurcated into rolled and steel-cut. Based on category, the oats market is segmented into organic and conventional. In terms of nature, the oats market is divided into gluten-free and conventional. On the basis of form, the oats market is divided into flakes, flour, and others. In terms of applications, the oats market is bifurcated into food & beverages, animal feed, personal care, and others. Based on geography, the oats market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

SEGMENTAL ANALYSIS

On the basis of the process, the oats market is bifurcated into rolled and steel-cut. In 2020, the rolled segment accounted for the largest market share in the oats market. Rolled oats are widely considered a convenient and time-saving breakfast option. They require minimal preparation, as they can be cooked quickly. In addition, health and nutritional benefits associated with rolled oats have been extensively promoted through campaigns and health messaging. This increased awareness and influenced consumer preferences led to the dominance of the rolled segment further bolstering the oats market growth. 

Based on category, the oats market is segmented into organic and conventional. The organic segment is expected to register the highest CAGR during the forecast period. Consumers are becoming more conscious of the potential health risks associated with conventional agricultural practices, such as the use of synthetic pesticides, herbicides, and genetically modified organisms (GMOs). Organic oats are grown without the use of synthetic chemicals and GMOs, making them a safe option for health-conscious individuals who want to minimize their exposure to potentially harmful substances. These factors are driving the organic segment growth in the oats market.

On the basis of nature, the oats market is divided into gluten-free and conventional. During the forecast period, the gluten-free segment is anticipated to register the highest CAGR. The demand for gluten-free oats is growing primarily due to the increasing awareness of celiac disease, gluten sensitivity, and the desire for gluten-free diets. As more people seek gluten-free options, the demand for gluten-free oats increases.

In terms of form, the oats market is divided into flakes, flour, and others. In 2020, the flakes segment held the largest market share in the oats market. Oat flakes are convenient and easy to prepare, making them popular for quick and nutritious breakfasts. Oat flakes come in different thicknesses, including thin and thick flakes, to cater to various preferences and culinary applications. They can be easily cooked, making them a quick, wholesome breakfast option. All these factors led to the flakes segment growth in the oats market.

In terms of applications, the oats market is bifurcated into food & beverages, animal feed, personal care, and others. In 2020, the animal feed segment held the largest market share. Oats contain a significant amount of dietary fiber, which can aid in promoting digestive health in animals, especially in monogastric species like horses and pigs. Fiber also helps regulate bowel movements and prevent digestive disorders. These factors led to the dominance of animal feed segment leading to the increasing oats market share.  

Global Oats Market, by Application – 2020 and 2028

REGIONAL ANALYSIS

The oats market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Europe region was estimated to be around US$ 3,500 million in 2020. Europe has seen a significant increase in the demand for plant-based and vegan diets. Oats are an excellent plant-based alternative to dairy milk and are used in various dairy alternatives, including oat milk, oat yogurt, and oat-based desserts. This trend has further driven the demand for oats in the region. In addition, the long history of cultivation and consumption, especially in Northern and Western Europe, has established cultural preferences for oats and contributed to the region's oats market growth.

Furthermore, the Asia Pacific region is estimated to register a CAGR of approximately 5% during the forecast period. There has been a shift in dietary preferences in the Asia Pacific regions, with an increasing awareness of the health benefits of oats. Oats are seen as a nutritious option, rich in fiber, vitamins, and minerals, and they appeal to consumers looking for healthier food choices. In addition, the increasing urbanization and westernization of dietary habits in many Asian countries have led to a greater acceptance of oats as a part of a modern, healthy diet. In addition, as the middle class expands in various Asian countries, consumers have more disposable income to spend on higher-quality and healthier food products. Oats, being perceived as a premium and healthy option, have benefitted from this oats market trend.  

North America is forecasted to be valued at around US$ 1,800 million in 2028. The growing popularity of plant-based diets in North America has also boosted the demand for oats. Oats are a versatile ingredient that can be used in various plant-based alternatives to dairy and meat products, such as oat milk and oat-based meat substitutes. The rise of vegan and vegetarian diets has driven the demand for such products. These factors are creating a favorable environment for the oats market growth in North America.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Various strategies and developments taken by the key operating in the global oats market. Some of the recent developments are mentioned below.

  • In February 2023, Life Health Foods (India) Pvt. Ltd. launched a vegan So Good Oat Unsweetened beverage - a dairy-free, plant-based milk.
  • In May 2023, Oatly launched four new oat drink lines in the UK with Light, Semi, Whole, and "No Sugars" varieties, available in chilled and long-life formats, this product launch is expected to increase Otaly market share in the global oats market.
  • In September 2022, Quaker, an Indian brand of PepsiCo India, entered into the Ready-to-eat (RTE) cereal segment with a breakfast offering – Quaker Oats Muesli.
  • In September 2021, Alt Co., a sustainable plant-based alternative brand, introduced a new nutriment in its portfolio of healthy meals and include plant-based oat milk that will revolutionize patrons' diets for good.

COVID IMPACT

Before the COVID-19 outbreak, the oats market growth was mainly driven by the rising demand from food & beverages, pulp & paper, animal feed, and pharmaceutical industries. However, in 2020, these industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The COVID-19 pandemic hampered the key raw material supply chains and disturbed manufacturing processes due to restrictions imposed by government authorities in various countries. However, in 2021, economies gradually resumed their operations, which had a positive effect on the global marketplace. As large percentages of people from many countries were fully vaccinated by the end of 2021, manufacturers were permitted to operate at full capacities, which helped them consolidate their efforts toward closing the gap between demand and supply. In addition, during the COVID-19 pandemic, the demand for oats from animal feed, food & beverages, and pharmaceutical industries increased, which positively impacted the market. These transformations helped them focus on increasing their production to revive their businesses.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Partnerships, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global oats market. Some of the key players operating in the oats market include Avena Foods, Limited; Blue Lake Milling; Glanbia Plc; Grain Millers, Inc.; JELU-WERK J. Ehrler GmbH & Co. KG; Lantmännen; Morning Foods; Oy Karl Fazer Ab; Richardson International Limited and Swedish Oat Fiber AB.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Process, Category, Nature, Form, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What strategies are the prominent players adopting?

The key companies are adopting strategies such as mergers & acquisitions and R&D investment to expand customer base and gain significant share in the global market, which also allow them to maintain their brand name globally.

Based on application, which segment is leading the global oats market during the forecast period?

By application, the global oats market is bifurcated into food and beverages, animal feed, personal care, and others. In 2020, the animal feed segment dominated the market.

Which major factors are influencing the growth of global oats market?

The global oats market growth is majorly influenced by determinants such as wide scope of application, health benefits associated with oats, and availability of substitutes.

Which region held the largest share of the global oats market?

In 2020, Europe accounted for the largest share of more than 45% in the global oats market. The growth of the food & beverage and animal feed industries, along with health benefits associated with oats, drive the growth of the oats market in Europe.

Based on category, which segment led the global oats market in 2020?

Based on category, the global oats market is segmented into organic and conventional. The organic segment dominated the market in 2020 and is expected to maintain its dominance throughout the forecast period.

Can you list some of the major players operating in the global oats market?

Some of the major key players operating in the global oats market include Avena Foods, Limited; Blue Lake Milling; Glanbia Plc; Grain Millers, Inc.; JELU-WERK J. Ehrler GmbH & Co. KG; Lantmännen; Morning Foods; Oy Karl Fazer Ab; Richardson International Limited; and Swedish Oat Fiber AB among few others.

The List of Companies - Oats Market

  1. Avena Foods, Limited
  2. Blue Lake Milling
  3. Glanbia Plc
  4. Grain Millers, Inc.
  5. JELU-WERK J. Ehrler GmbH & Co. KG
  6. Lantmännen
  7. Morning Foods
  8. Oy Karl Fazer Ab
  9. Richardson International Limited
  10. Swedish Oat Fiber AB

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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