Press release
Rising Vegan Population Spurs Oat Milk Market Growth: Estimated to Reach $5.18 Billion by 2029
Nutritional Supplements Market Share
Accelerated by the increasing vegan population and innovations in dairy-free products, the global oat milk market is expected to witness significant growth over the coming years.
What Is The Projected Market Size Of The Global Oat Milk Market And Its Growth Rate?
•The oat milk market is expected to climb from $3.25 billion in 2024 to $3.53 billion in 2025, representing a compound annual growth rate (CAGR) of 8.6%.
•The market is further anticipated to reach $5.18 billion by 2029, with a CAGR of 10.1%.
What Is Driving The Growth In The Oat Milk Market?
The increasing global vegan population is considered a pivotal factor propelling the growth of the oat milk market. Veganism, a practice endorsed for several reasons including weight management, health concerns, and animal welfare, seeks the avoidance of animal products in the diet. Oat milk, offering higher vitamin D content than cow's milk, benefits bone and dental health, and aids immune system endurance. According to VeganBites' report, in 2023, the US, with a total of approximately 327 million inhabitants, is expected to have nearly 19,632,000 vegan citizens and this number is likely to surge in the future. This rising vegan populace is driving the growth of the oat milk market.
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Who Are the Key Players Driving Oat Milk Market Growth?
Major players operating in the oat milk market include:
•Rise Brewing Co
•PepsiCo Inc.
•Danone North America
•The Quaker Oats Company
•The Hain Celestial Group Inc.
•Chobani LLC
•Pacific Foods of Oregon Inc.
•Alpro NV
•Thrive Market Inc.
•Oatly AB
•Califia Farms LP
•Earth's Own Food Company Inc.
What Are The Key Trends In The Oat Milk Market?
•Adoption of plant-based diet
•Increased focus on environmental sustainability
•Growing vegan and dairy-free movement
•Innovation and diversity in product
•Expansion of retail and cafe adoption
What Are The Segments Of The Global Oat Milk Market?
•By Source: Organic, Conventional
•By End User: Food & Beverages, Nutraceuticals & Baby Food, Personal Care, Pharmaceuticals
•By Product: Plain, Flavored
•By Packaging Form: Carton, Bottle
Which Region Leads The Oat Milk Market?
Asia-Pacific stood as the largest region in the oat milk market in 2024. Meanwhile, North America is projected to be the fastest-growing region in the forecast period. The oat milk market report also covers regions like Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Oat Milk Market Global Market Report?
- Market Size Analysis: Analyze the Oat Milk Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Oat Milk Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Oat Milk Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Oat Milk Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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