By extending their geographic activities to other countries, industry leaders are growing their product portfolio.
DUBAI, UAE / ACCESSWIRE / February 10, 2021 / FMI states in its recent study on oat drinks that the market will record an impressive CAGR of 8% through 2031. Demand for oat drinks is anticipated to continue surging particularly due to the rising health consciousness among people of all age groups.
" Leading players in the industry are competing every day to deliver fresh and innovative varieties of these products. Due to its lactose-free consistency and every-day use, the oat drinks market is expected to grow significantly in the coming years.." says the FMI analyst.
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Oat drinks Market - Important Highlights
- Regular or Full-Fat oat drinks are anticipated to dominate the market for their great health benefits.
- Unflavored oat drinks are expected to hold the major market share of more than 60% by 2031.
- According to end-users, retail services are likely to hold the maximum share of the market I the upcoming years.
- Europe is expected to hold a prominent place in the market due to an established consumer base and rising health concerns among people.
- Opportunities for the market growth are plenty in China in the forecasted years, and it is expected to dominate the east Asia market.
Oat drinks Market - Drivers
- Rising awareness due to the associated health benefits and will generate growth prospects.
- the Oat drinks market is expected to witness an increase in demand due to its plant-based sources or dairy alternatives, which is adapting to the progressing wave of veganism.
- Increasing investment in R&D activities by manufacturers is likely to boost market growth during the forecast years.
- Lactose intolerance among people especially in Asia is driving the growth of the market.
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Oat drinks Market - Restraints
- Is comparatively pricey compared to other dairy products which are thought to be a key constraint for the market.
- Rapidly changing consumer demand which is why companies need t-o have their foot in innovation and continuously improve, which can cause problems at times.
COVID-19 Impact on Oat drinks Market
During the onset of COVID, the market was driven by the stockpiling of groceries which was followed by a lockdown. As health and hygiene were on the top priority list of customers, there was a rapid increase in sales in oat drinks due to their excellent Convenience of use (easy to store and shelf life). There was a rise in demand created from eCommerce stores at the onset of the lockdown.
Competitive Landscape
The oat drinks market players are leaning towards the expansion of the production facilities and increasing their types of products besides opting for strategic collaborations to attain a competitive edge. For this, they are introducing oat drinks infused with different flavors. Also, several firms are focused on expanding their development facilities and acquiring local players to supplement their product offerings. For example, Pacific Foods of Oregon, Inc offers variations that include original organic oat, organic oat vanilla, and original single-serving organic oat.
Some of the leading companies operating in the market are Cereal Base Ceba AB (Oatly), Pacific Foods of Oregon, Inc., Elmhurst Milked Direct LLC, Alpro, Lima Food SRL
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About the Study
The study offers readers a comprehensive assessment of the oat drinks market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on product type (regular, low fat), end-use application(food services, retail services), Nature(Organic, Conventional), Format(Shelf-Stable, Refrigerated)
and across key regions (North America, Latin America, Europe, China, Asia Pacific, Japan, and MEA).
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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Report: https://www.futuremarketinsights.com/reports/oat-drinks-market
Press Release Source: https://www.futuremarketinsights.com/press-release/oat-drinks-market
SOURCE: Future Market Insights
View source version on accesswire.com:
https://www.accesswire.com/628901/Oat-Drinks-is-Witnessing-Surging-Demand-Owing-to-the-Growing-Popularity-of-Veganism-Future-market-Insights-Report-Analyses
