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Oats Market Scope
Market Research Future (MRFR) confirms that the oats market will capture a significant CAGR between 2020 and 2027 while touching a strong valuation by the end of the analysis period.
Primary Boosters and Barriers
The drastic increase in health consciousness as well as the rise in awareness regarding the health benefits associated with oats has done wonders for the global market. Because of the soaring demand, manufacturers are increasingly developing a variety of oats that help attract the attention of the mass. Oat cookies have been gaining significant popularity worldwide, given the surging consumption of healthy bakery items. Moreover, to foster sales, leading vendors are focusing on attractive and aesthetic packaging with bright and catchy colors.
Healthy breakfast has emerged as a notable trend in the global market, while healthy snacks such as biscuits, cookies, and more are gaining considerable traction as well. Evolving consumer eating habits in line with surging disposable income, especially in developing countries, could translate into a favorable business scenario. Sensing the host of opportunities, more and more players are venturing into the oats industry, which should further foster growth.
Well-established retailers like Walmart and Target have been taking note of the escalating preference for the organic oats market among consumers. The high demand can be accredited to the improving living standards, high preference for natural food items, government-backed initiatives, and the surging purchasing capacity of the consumers in China, Brazil, and India. Gluten-free oats are also making the rounds in the market, gradually capturing the attention of a rising number of consumers.
Segmental Analysis
Form, application, and distribution channel are the key segments listed in the MRFR study.
Oats are available in various forms, such as bar, powder/flour, regular/flakes, and more. The leading spot has been taken by the regular/flakes oats market overview segment, as they are largely consumed as breakfast cereal.
Oats have applications in bakeries & confectionery, food ingredients, personal care products as well as healthcare products. Out of these, the bakery and confectionery segment should take the lead in the years to come, given the mounting preference for healthy baked goods and confectionery items among consumers.
Oats are sold via distribution channels that are either store-based or non-store-based. the store- based channels are convenience stores, specialty retailers, supermarkets/hypermarkets, and others. The non-store-based channel is e-commerce. Sales via store-based channels lead the global industry as these are preferred by consumers considering the provision of a convenient one-stop shopping experience. With the rise in internet penetration, the e-commerce sector has burgeoned rapidly in the last few years. Online channels are extensively being used by consumers for the purchase of items such as breakfast oats flakes as well as oats bars. The non-store-based or online category has also attracted popular brands such as Carrefour, Walmart, and Amazon, etc, which has resulted in booming sales of oats.
Regional Analysis
Asia Pacific/APAC, North America, Europe, as well as RoW/rest of the world are the prominent markets for oats.
North America is in the lead and will remain the top market throughout the conjectured period, thanks to the high awareness among people about the health benefits of oats. The US has been identified as the most lucrative market in the region and the share is projected to burgeon rapidly in the years to come owing to frequent launches of new flavors by reputed companies. More and more consumers are opting for organic oats, given the health, ethical and environmental factors. The demand for gluten-free oats is particularly high in the region, while the significant employment rate also adds to the sales.
The Asia Pacific has seized a massive share in the global market, with the highest demand for oats noted in Japan and China, along with several South-East Asian countries. Growth in health awareness and the rising number of fitness freaks in the region offer attractive opportunities to the top firms in the region. The popularity of eCommerce channels, the growing presence of organized distribution channels, and the expanding urban populace also drive the sales of oats in the region.
Key Players
Prominent firms active in the oats market include General Mills, Inc. (U.S.), Morning Foods Ltd (U.K.), Avena Foods Limited (Canada), The Quaker Oats Company (U.S.), Richardson International (Canada), Blue Lake Milling Pty Ltd (Australia), Grain Millers, Inc. (U.S.), to name a few.
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