Market Size of Oats Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.22 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Oats Market Analysis
The Oats Market size is expected to grow from USD 4.39 billion in 2023 to USD 5.40 billion by 2028, at a CAGR of 4.22% during the forecast period (2023-2028).
- The changing lifestyle of consumers, including the decision to opt for light and healthy meals, is driving the demand for oats. The high nutritive content of oats is the major driver of the market. Additionally, an increase in preference for healthy meals and demand for convenience food is also driving the oats market. Also, its added functional properties enhance its usage by consumers, and it is witnessed to be consumed majorly as a breakfast food.
- Moreover, the working population's fast-paced lifestyle has catalyzed the demand for oats as breakfast cereals. Oats are gaining popularity as an alternative to sugar or fat that can retain moisture, enhance fiber, and stabilize food texture. The growing trend for low-calorie, low-fat, and less-sugar food products among consumers is increasing the demand for oats as a fat or sugar replacer ingredient.
- The rising health concerns, rapidly changing lifestyle, and change in consumption pattern is increasing consumers' demand for low-fat or low-calorie food to maintain a healthy lifestyle and reduce the risk of various health problems such as obesity, cardiovascular diseases, cancer, and others.
- The increasing gut problems coupled with the rise in demand for preventative healthcare products in countries such as China, India, and Japan are expected to result in increased demand for prebiotics products. Many people suffer from digestive problems such as pain, cramps, constipation, and bloating.
- Moreover, certain conditions, such as gastroesophageal reflux disease (GERD), irritable bowel syndrome (IBS), and diverticulitis, have been growing in recent years. This rising prevalence of digestive diseases has generated the demand for fiber or prebiotic-rich food and beverage products.
- According to the UN Department of Economic & Social Affairs (UN DESA), the share of older persons in the global population is expected to increase from 9.3 percent in 2020 to 16.3% in 2050. Thus, the increasing geriatric population worldwide has also increased the demand for healthy food.
