Market Trends of oat milk Industry
The increasing prevalence of milk allergies, growing lactose-intolerant population, and consumer preference for sustainable, low-fat, and allergen-free options drive the consumption of oat milk
- Plant-based milk is the largest consumed category among all dairy alternatives globally. Oat milk, followed by soy milk, is highly popular and accounted for more than a 50% share of the overall plant-based milk consumption in 2022. The increasing prevalence of milk allergies is driving the demand for plant-based milk globally. For example, oat milk is a rich source of vitamins, proteins, and potassium and has a lower calorie content than cow's milk. Due to its high nutrient content, it is considered an ideal substitute for dairy products.
- One of the highest obesity rates in the world is held by the United States. As of November 2021, the adult obesity prevalence in the United States was 30% or higher, with 19 states having 35% or higher obesity prevalence. The growing volume of lactose-intolerant consumers in the country is another important aspect boosting the market's growth. In 2022, 30-50 million US consumers were found to be lactose-intolerant. People are exploring ways to stay fit and opt for healthy lifestyles to counter these aspects. Oat milk is the second most consumed type of plant milk by people trying to lose weight or suffering from lactose intolerance.
- There is a constant rise in the per capita consumption of oat milk due to consumer preference toward sustainable ingredient sourcing, which is concerned with hormones (plant estrogen or isoflavones) also found in soy milk. Oat milk also comes with GMO-free, low-fat, and allergen-free claims, giving consumers more plant-based options to diversify their diets. The global per capita consumption of oat milk is expected to increase by 11.24% from 2023 to 2024.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Fluctuations in oat production are influenced by drought conditions, climatic variations, and shifting consumer preferences toward plant-based derivatives, leading to increases and decreases in production levels
