Oats Market - Top 10 Companies In 2023 are Avena Foods, Glanbia, Grain Millers, Lantmännen, Morning Foods

Oats Market to be worth USD 9,939.82 Million, Growing at a CAGR of 3.6% from 2021 to 2028

NEW YORK, NEW YORK, UNITED STATES, March 9, 2023 /EINPresswire.com/ -- The oats market was valued at US$ 7,764.49 million in 2021 and is estimated to reach USd 9,939.82 million by 2028; it is projected to grow at a CAGR of 3.6% from 2021 to 2028. Oats (Avena sativa) are high in several dietary fiber components, such as mixed-linkage (1→3), (1→4)-β-D-glucan arabinoxylans, and cellulose. The nutritional profile of oats includes protein, minerals, vitamins, dietary fibers, and carbohydrates. They are also enriched with antioxidants, which assist in protecting the body from chronic diseases, such as diabetes, cardiovascular disease, and cancer. The increasing awareness regarding the benefits of consuming oats is prompting manufacturers to incorporate oats into various food & beverages, animal feed products, cosmetics, and others.

Based on category, the oats market is segmented into organic and conventional. The organic segment dominated the market in 2020 and is expected to maintain its dominance throughout the forecast period. Organic oats are made from oats that have been farmed organically without using synthetic fertilizers or pesticides. Increasing popularity of organic foods is propelling organic oats production and demand.

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The oats market is segmented into five main regions—North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South and Central America (SAM). Asia-Pacific is expected to register the highest CAGR in the market during 2021–2028. The oats industry in Asia-Pacific has experienced a massive shift over the years. Surge in health awareness among the consumers is bolstering the market growth in the region. Hectic lifestyle and wellness concerns have changed the eating patterns among the population. Buyers nowadays favor ready-to-eat and healthy breakfast options, such as gluten-free oats. Further, oats consumption in Asia-Pacific has increased owing to the rising disposable income and the availability of different product types, such as rolled oats, steel-cut oats, oat bran, and oat flour, on online and offline retail shops.

Based on region, the oats market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. In 2020, Europe accounted for the largest share of the market. The growth of the market in this region is mainly attributed to the growth of the food & beverage and animal feed industries, along with health benefits associated with oats. Oats are used to make porridge or oatmeal, hot cereal, biscuits, bread, muesli, infant food, and granola bars in this region. They are naturally gluten-free and are ideal for consumers with gluten intolerance and celiac disease, among other autoimmune and inflammatory diseases.

Impact of COVID-19 Pandemic on Oats Market

The oats market has witnessed a major impact on its product trends. During the COVID-19 pandemic, consumer preference for healthy food products with various functional properties has increased significantly. Further, consumers are substituting conventional ingredients with healthier alternatives. Additionally, the consumer’s desire for new and innovative products to have different culinary experiences is also influencing the market trends for flavored oat beverages, gluten-free oats, and organic oats. Furthermore, during the pandemic there has been rapid surge in demand for immunity-boosting and healthy products, which is due to people seeking solutions to boost overall health and wellbeing. The COVID-19 pandemic has prompted customers to become health-conscious and turn to organic products. Hence, increasing health-consciousness and high demand for organic products among the global population due to the COVID-19 pandemic has had a positive impact on the oats market.

However, market shutdown and interrupted food services have had a substantial influence on food demand. Food makers and processors were dealing with a number of challenges in their daily operations. The consumer preference to stay at home that had a detrimental impact on the HORECA (i.e., Hotel, Restaurants, and Café) sector. However, the production process was unaffected since governments allowed the delivery and sale of seeds, fertilizers, and crop protection products. According to the Food and Agriculture Organization (FAO), Europe and Central Asia had adequate food supplies, including main food commodities. However, with developments in terms of vaccination and initiatives taken by various governments to support economic and industrial growth, the demand of oats is anticipated to grow at a steady pace in the coming years.

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By process, the global oats market is bifurcated into rolled and steel-cut. Based on category, the oats market is segmented into organic and conventional. By nature, the global oats market is bifurcated into gluten-free and conventional. Based on form, the oats market is segmented into flakes, flour, and others. Based on application, the global oats market is segmented into food & beverages, animal feed, personal care, and others. In terms of geography, the oats market is segmented into five main regions—North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South and Central America (SAM).

A few key players operating in the oats market are Avena Foods, Limited; Blue Lake Milling; Glanbia Plc; Grain Millers, Inc.; JELU-WERK J. Ehrler GmbH & Co. KG; Lantmännen; Morning Foods; Oy Karl Fazer Ab; Richardson International Limited; and Swedish Oat Fiber AB.

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