Oats Market to Reach US$ 9,939.82 Million, Globally, by 2028 at 3.6% CAGR
According to The Insight Partners study on “Oats Market to 2028 – Global Analysis and Forecast – by Product Type, Price Range, Tank Type, Distribution Channel, and Geography,” the market is projected to reach US$ 9,939.82 million by 2028 from US$ 7,764.49 million in 2021; it is expected to grow at a CAGR of 3.6% during 2021–2028.
|Market Size Value in||US$ 7,764.49 million in 2021|
|Market Size Value by||US$ 9,939.82 million by 2028|
|Growth rate||CAGR of 3.6% from 2021 to 2028|
|No. of Pages||187|
|No. of Charts & Figures||93|
|Historical data available||Yes|
|Segments covered||Process, Category, Nature, Form, and Application|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
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Oats are increasingly being used as a replacement for high-energy cereals, such as barley and corn. As a result, the animal feed industry has established itself as a key end user in the market. Oats can also be used in extruded breakfast cereals and snacks, instant powders, dry soups and sauces, ready-to-drink beverages, bread, cakes, crispbread, biscuits, desserts, ice cream, pasta/noodles, health and medical food products, and sports bars/food/powder/drinks, as a nutritional and functional ingredient. It has a high concentration of total proteins, carbohydrates (starch), crude fat, dietary fiber (nonstarch), a unique antioxidant, and vitamins and minerals.
In 2020, Europe accounted for the largest share in the global oats market. The growth of the food & beverages and animal feed industries, along with health benefits associated with oats, drive the growth of the oats market in Europe. Oats are a popular breakfast cereal used to make porridge or oatmeal, hot cereal, biscuits, bread, muesli, infant food, and granola bars. These are naturally gluten-free and are ideal for consumers with gluten intolerance and celiac disease, among other autoimmune and inflammatory diseases. The strong domestic presence of manufacturers such as JELU-WERK J. Ehrler GmbH & Co. KG, Lantmännen, Morning Foods, Oy Karl Fazer Ab, and Swedish Oat Fiber—coupled with a surge in investments in the expansion of their production capacities—is another factor contributing to the oats market growth in Europe.
Impact of COVID-19 Pandemic on Oats Market
The COVID-19 pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Interruptions in food services have had a substantial influence on food demand. Food makers and processors had to deal with a number of challenges in their daily operations in 2020. 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.
Growing Demand for Oats in Personal Care Industry to Boost Market Growth
The incorporation of food-derived components in personal care products provide health and nutrition to the skin. Oats have always been thought of as nutritious food, but their popularity has surged in recent years due to the introduction of novel products consisting of oats and growing recognition as an element with low allergenic potential but high proven therapeutic benefit. Natural oat extract is a novel cosmetic raw material with known active components, such as avenanthramides, proteins, and beta-glucans. At low concentrations, avenanthramides have been proven to reduce histamine release. At the same time, oat beta-glucans increase pro-collagen synthesis, plumping the skin, reducing wrinkles, and restoring the skin’s natural moisture barrier. Thus, rising demand for oats in the personal care industry is emerging as a profitable growth opportunity for the market players.
Oats Market: Segmental Overview
- By process, the oats market is bifurcated into rolled and steel-cut. In 2020, the rolled segment accounted for a larger revenue share in the market.
- The oats market, based on category, is segmented into organic and conventional. The organic segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period.
- The oats market, by nature, is bifurcated into gluten-free and conventional. In 2020, the conventional segment accounted for a larger market share.
- On the basis of form, the oats market is segmented into flakes, flour, and others. The flakes segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period.
- By application, the global oats market is segmented into food and beverages, animal feed, personal care, and others. In 2020, the animal feed segment dominated the market.
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Oats Market: Competitive Landscape and Key Developments
- Avena Foods, Limited
- Blue Lake Milling
- Glanbia Plc
- Grain Millers, Inc.
- JELU-WERK J. Ehrler GmbH & Co. KG
- Morning Foods
- Oy Karl Fazer Ab
- Richardson International Limited
- Swedish Oat Fiber AB
are among the key companies operating in the global oats market.
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