Categories: Food & Beverages

Oat Milk Market 2024 | Size, Top Trends, Growth, Share, Key Drivers | Rise Brewing Co, PepsiCo Inc., Danone North America, The Quaker Oats Company, The Hain Celestial Group Inc.

The Oat Milk Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Oat Milk Global Market Report 2024, The oat milk market size has grown strongly in recent years. It will grow from $2.99 billion in 2023 to $3.25 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to dairy alternatives rise, lactose intolerance awareness, innovation in dairy-free products, retail and cafe adoption, changing consumer perceptions.

The oat milk market size is expected to see strong growth in the next few years. It will grow to $4.69 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to clean label appeal, functional and fortified beverages, youth market influence, social media and influencer impact, retail and cafe expansion. Major trends in the forecast period include plant-based diet adoption, environmental sustainability, vegan and dairy-free movement, innovation and product diversity, retail and cafe adoption.

The rise in the vegan population is expected to propel the growth of the oat milk market going forward. Veganism is the practice of avoiding the use of animal products, particularly in the diet, as much as possible. There is rapid growth in the vegan population for various reasons, which include weight management, health concerns, animal welfare, and others. Oat milk offers more vitamin D than cow’s milk, which provides a variety of health benefits, including bone and dental health, as well as immune system endurance. For instance, in 2023, according to reports published by VeganBites, a US-based plant-based provider of vegan lifestyle content and information, the US will have 327 million inhabitants, so there will be approximately 19,632,000 vegans. This number is expected to rise in the future. Therefore, the rising vegan population drives the growth of oat milk.

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The oat milk market covered in this report is segmented –
1) Oat Milk Market By Source: Organic, Conventional
2) Oat Milk Market By End User: Food & Beverages, Nutraceuticals & Baby Food, Personal Care, Pharmaceuticals
3) Oat Milk Market By Product: Plain, Flavored
4) Oat Milk Market By Packaging Form: Carton, Bottle

Top Major Players

Rise Brewing Co

PepsiCo Inc.

Danone North America

The Quaker Oats Company

The Hain Celestial Group Inc.

Major companies operating in oat milk are focused on collaboration and partnerships to provide reliable services to customers. A strategic partnership is a structured affiliation between two or more commercial enterprises, typically established via one or more business agreements or contracts. For instance, in June 2023, TH International Limited, a China-based coffee and bakery company, partnered with Oatly Group AB, a Sweden-based manufacturer of alternatives to dairy products, to launch dairy-free ready-to-drink (RTD) oat milk latte product line. This partnership enables TH International Limited to tap into the growing demand for plant-based alternatives in China, while also offering Oatly access to a large and established distribution network.

The oat milk market report table of contents includes:

1. Executive Summary

2. Oat Milk Market Characteristics

3. Oat Milk Market Trends And Strategies

4. Oat Milk Market – Macro Economic Scenario

5. Global Oat Milk Market Size and Growth

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32. Global Oat Milk Market Competitive Benchmarking

33. Global Oat Milk Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Oat Milk Market

35. Oat Milk Market Future Outlook and Potential Analysis

36. Appendix