Oat milk was discovered during the 1990s by a Swedish scientist named Rickard Oste; however, the oat milk has gained high traction in the last five years owing to its potential therapeutic benefits. Oat milk is one of the leading nutritious beverage market and is projected as a healthy and vegan substitute to dairy milk. It is made by soaking and blending the oats with water which are strained through the cheesecloth in order to separate milk from the oats. Oat milk is rich in nutrients including vitamin A and D, calcium, iron, and potassium. In addition, it contains beta-glucans, which is a soluble fiber withmultiple health benefits.Moreover, oat milk is durable and can be stored for a longer period than other non-dairy milk products.
According to Allied Market Research, the global oat milk market was valued at $360.5 million in 2019 and is projected to reach $995.3 million by 2027, registering a CAGR of 13.4% from 2021 to 2027. Due to rapid shift in urbanization, the availability of such products is increasing, and also, it is leading to sustainable growth in the sales of oat milk. The product is now available at multiple distribution channels like super and hypermarkets, and also on online stores. Owing to its easier availability and health benefits, oatmeal is gaining high traction as a leading substitute for tea and coffee.
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Increase inpopularity of veganism and rise in consumer awareness regarding the advantages of oats milkare expected to boost the demand for oats milk in the market. Furthermore, there is an increase in lactose intolerance and allergies from dairy-based beveragesresulting in increased demand for plant-based beverages including oat milk.
Oat milk is filled with innovations; for instance, oat milk manufacturers have introduced sugar-free oat milk in the market to expand their consumer segments. Furthermore, organic oat milk have been introduced in the market forhealth conscious consumers.
Oat milk is expanding its market share by replacing dairy milk and its segments like yogurt, milk powder, ready-to-drink coffee cans, ice-creams and chocolate bars,and others. There is a vast scope for oat milk in the food and beverage industry. Moreover, Oatly,the oat milk brand is gaining high traction by penetrating the U.S. market through lavish coffee shops before going to retail. Furthermore, its Barista Edition Oatmilk is quickly becoming the preferred milk alternative owing to its ability to deliver foamability and mouth feel in cappuccinos and lattes, which is similar to the traditional dairy milk.
COVID-19 worked as a blessing in disguise for the oat milk industry as the virus was impacting multiple organs, which majorly included the lungs and heart. It was advised to the patients recovering from the virus to consume oat milk every day instead of regular dairy produced milk. Furthermore, the number of COVID-19 patients was increasing at a rapid pace, which leads to the high rise in demand for oat milk in the market.
Even after this pandemic, the oat milk market is expected to grow at a similar rate owing to increase in population, the food resources are currently having will not be enough for the future. Therefore, it is essential to find different food alternatives without harming the environment.Furthermore, the consumers are shifting their demand toward healthier immunity booster.
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