Oat milk market is expected to witness significant growth, with a projected CAGR of 14.4% during the forecast period. The market's growth is attributed to the increasing demand for plant-based milk alternatives across the globe. The increasing popularity of vegan and vegetarian lifestyles has resulted in a change in consumer preferences towards plant-based milk alternatives, such as oat milk. For instance, in March 2023, Nestlé unveiled its latest innovation for its plant-based products, a milk alternative that combines a unique blend of oat and fava with a strong nutritional value. By combining oat and fava, the plant-based milk alternative has 5g of protein per serving and all the amino acids required in the diet to ensure high-quality protein.

Segmental Outlook 

The oat milk market is segmented based on nature, flavour, and distribution channel. Based on nature, the market is divided into organic and conventional. By flavour, the market is divided into plain and flavoured. Furthermore by distribution channel, the market is divided into supermarkets and hypermarkets, grocery stores, online retail, and others. Among the flavour segment, the flavoured sub-segment is anticipated to hold a significant market share. There is a growing demand for flavoured oat milk, including chocolate, vanilla, sweetened, and unsweetened varieties that satisfy various consumer tastes. Nowadays, manufacturers are creating flavoured oat milk products to make this healthful beverage more appealing to consumers.

The Organic Sub-Segment is Anticipated to Hold a Prominent Share of The Global Oat Milk Market

The growth of the organic oat milk sub-segment is attributed to the growing demand for tasty and healthy organic milk across the globe. Consumers nowadays are looking for tastier, healthier options that incorporate a variety of ingredients, such as fruits, sea salt, and filtered water, to nourish their bodies. Accordingly market players are coming up with new products to cater the demand for organic oat meals. For instance, in January 2023, Califia Farms launched USDA-certified organic oat milk and almond milk. With just four simple ingredients, such as purified water, sea salt, oats, and almonds, excluding oils or gums, the brand designed the latest offerings to meet the requirements of consumers seeking products with fewer ingredients at an accessible price point. It is available in refrigerated format in a 48-ounce bottle.

Regional Outlooks

The global oat milk market is analysed across key regions, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East and Africa, and Latin America). Amon these, the North America region is expected to experience substantial market growth, attributed to demand for oat milk Since increased awareness among consumers of the amount of proteins and nutritional benefits of oat milk. The prevalence of online retailers as an alternative offering medium of communication is high, that has contributed towards the region's alternative milk expansion in the market.

Global Oat Milk Market Growth, by Region 2023-2030

Asia-Pacific is Anticipated to Hold a Significant Share in the Global Oat Milk Market

In Asia-Pacific, the growth of the market is attributed to increasing demand for new innovative products and consumption of oat milk across the region. VitaOat, a new product with a variety of tastes, is one of the latest arrivals driving growth in China. By effectively capitalizing on consumers' growing interest in oat milk, revenue in Australia increased by 8%. Revenue also increased across all the major plant milk platforms, including soy, almond, and oat. They introduced the Vitasoy Plus Milky Oat product in the Philippines, that significantly increased Vitasoy sales and sustained in-home consumption efforts to strengthen linkages with significant drinking occasions. According to the Philippines, they are optimistic about their long-term growth potential and on-trend innovation plans to add further scale to both Vitasoy and Vita brands as the plant-based movement continues to become increasingly popular in the Asia-Pacific region. Vitasoy experienced a substantial setback in Singapore despite its overall robust performance, which is more shocking given that Singapore is one of the major regional engines for plant-based innovation.

Market Players Outlook

The major companies serving the global oat milk market include Califia Farms, LLc, Chobani Global Holdings, LLC , Danone SA, Earth's Own Food Company Inc., Milked Direct, LLC , and others. The market players are contributing to market growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2022, Chobani launched ChobaniTM Oatmilk Cosmic Race. Chobani's first metaverse experience is all about group racing and discovery. Participants compete in a virtual galaxy race in ChobaniTM Oatmilk spaceships, delivering oatmilk to planets.

The Report Covers

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global oat milk market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.