According to a new report, published by KBV research, The Global Oat Milk Market size is expected to reach $6.8 billion by 2031, rising at a market growth of 13.7% CAGR during the forecast period. In the year 2023, the market attained a volume of 536.34 kilo tonnes, experiencing a growth of 12.4% (2020-2023).
The Conventional segment is leading the Global Oat Milk Market by Source in 2023; thereby, achieving a market value of $4.7 billion by 2031. This dominance can be attributed to the established consumer base and widespread availability of conventional oat milk products. Many consumers still prefer familiar, traditional formulations that have been on the market longer, as they often associate them with quality and reliability.
The Plain segment registers a CAGR of 13.2 % during the forecast period. This can be attributed to several factors that appeal to a broad consumer demographic. Plain oat milk is often favored for its versatility, as it can be used in various applications, including coffee, smoothies, cooking, and baking, making it a staple in many households. Its neutral flavor profile allows it to seamlessly blend into both sweet and savory dishes without overpowering other ingredients.
The Supermarket & Hypermarket segment is generating maximum revenue in the Global Oat Milk Market by Distribution Channel in 2023; thereby, achieving a market value of $2.8 billion by 2031. Supermarkets and hypermarkets offer a wide range of oat milk brands and varieties, allowing consumers to explore different options and make informed choices. The convenience of shopping in these large retail spaces, combined with the ability to compare products side-by-side, enhances consumer confidence in purchasing oat milk. Additionally, the presence of knowledgeable staff can assist shoppers in making decisions, further driving sales in this segment.
The Bottle segment exhibits a CAGR of 13.9% during (2024 - 2031). This performance can be attributed to several factors that make bottles an attractive packaging choice for consumers and manufacturers alike. Bottles offer convenience and portability, making them ideal for on-the-go consumption. The design of bottles often includes resealable caps, which help maintain the freshness of the product after opening and allow consumers to use the product on multiple occasions without compromising quality.
Full Report: https://www.kbvresearch.com/oat-milk-market/
The Europe region dominated the Global Oat Milk Market by Region in 2023; thereby, achieving a market value of $2.5 billion by 2031. The North America region is expected to witness a CAGR of 13.3% during (2024 - 2031). Additionally, The Asia Pacific region would capture a CAGR of 14.6% during (2024 - 2031).
By Source (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Product (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Packaging (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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