Year | Value |
---|---|
2023 | USD 3.44 Billion |
2032 | USD 5.23 Billion |
CAGR (2024-2032) | 4.78 % |
Note – Market size depicts the revenue generated over the financial year
The market for oats and oat products is estimated to be worth about $ 3.44 billion in 2023, and is expected to reach $ 5.23 billion by 2032, with a CAGR of 4.78 % from 2024 to 2032. This growth trend indicates a strong demand for oat-based products, driven by rising health and well-being consciousness and the growing trend towards plant-based diets. Oats' versatility as an ingredient, and the shift towards healthier breakfasts, are both expected to be a major growth driver for the market. The increasing prevalence of lifestyle-related diseases and the increasing trend towards clean label products are also expected to drive market growth. Oat-based cereals are also benefiting from technological advances in food processing and product development, which make them more appealing to consumers. The leading market players, including Quaker Oats (PepsiCo), General Mills and Kellogg's, are launching new products and forming strategic alliances to take advantage of this growing trend. Product innovations, for example, that include superfoods and active ingredients, attract health-conscious consumers and further increase the market's growth potential.
Regional Market Size
The Oats-Based Cereals Market is growing in different regions of the world, driven by the growing health consciousness among consumers and the increasing demand for gluten-free and plant-based food. In North America, the market is characterized by a strong presence of established brands and a strong product innovation, while in Europe, organic and sustainably sourced ingredients are gaining popularity. The Asia-Pacific region is experiencing a high growth in oat consumption due to changing dietary preferences and urbanization, while the Middle East and Africa are slowly adopting oat-based cereals as a healthy lifestyle. Latin America is also emerging as a potential market, driven by the growing interest in healthy breakfasts. The market is shaped by the dietary habits, economic factors and preferences of consumers in each region.
“Oats are one of the few grains that contain a unique type of soluble fiber called beta-glucan, which has been shown to lower cholesterol levels and improve heart health.” — American Heart Association
The Oatmeal-based Cereals Market is experiencing a high growth rate due to the growing demand for healthy and nutritious breakfast options. The awareness of the health benefits of oats, such as weight loss and heart health, is increasing. Plant-based diets are also in vogue. Moreover, the regulatory authorities’ policies promoting the consumption of whole grains in the diet are also contributing to the expansion of this market. In terms of product development and distribution, Quaker Oats and Nature Valley are the market leaders. The main applications are in ready-to-eat cereals, granola bars, and instant oatmeal. Moreover, the pandemics such as the COV-19 have accelerated the trend towards homemade food and healthier eating habits. The green economy is pushing brands to adopt eco-friendly packaging and sourcing practices. Oatmeal-based cereals are also evolving in terms of technological developments, such as advanced processing and nutritional fortification, which have enhanced their market appeal.
The oats market is projected to grow at a CAGR of 4.78% from 2023 to 2032, from $3.44 billion to $5.23 billion. Oats are the best-selling grain in the world. The main growth driver is the growing demand for healthy, plant-based diets and the rising awareness of oats' health benefits, such as improved heart health and digestive health. Oat-based cereals are expected to grow in popularity as consumers seek healthy breakfasts. According to industry estimates, they could achieve a penetration rate of over 35% among health-conscious consumers by 2032. This growth is being driven by technological advances that make oat-based products more palatable. In addition, government initiatives to promote the consumption of whole grains and healthy diets will also contribute to market growth. In addition, the emergence of new trends, such as the addition of probiotics and superfoods to oat-based cereals, will attract health-conscious consumers. As the market develops, brands that are more responsive to the changing preferences of consumers will be better positioned to capture a larger share of this growing market.
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