Growing trend of veganism around the globe to expand oats drink market size

 

Oat Drink Market

This term refers to a type of drink that contains oat bran or component, which is comprised primarily of the edible part of the oats. Oat foods have been consumed for generations. Oat drinks are made from various components, including what is known as oat bran, which is a part of the root of the oats. Oat grain is also what is used to process the bran. Milk is added to what is called "oomere" which is the product that is derived after the processing. Sugar is not included in what is oat drinks but is often used as a sweetener.

The growing trend of veganism around the globe due to the increasing demand for healthy and natural food products is driving the growth of the oat drink market. Moreover, the rising demand for plant-based foods and drinks is also fostering the growth of the market. SPINS retail sales data released March 3, 2020, shows that grocery sales of plant-based foods that directly replace animal products grew 29% since 2017, reaching $5 billion in 2019. Shifting consumer focus towards introducing innovative and variety in products is again augmenting the growth of the oat drink market. For instance, in December 2020, Chobani launched Yogurt, Oat Milk Innovations in response to the growing trend of plant-based diets around the globe. 

North America is projected to gain significant growth over the forecast period and this is attributed to the high presence of the obesity rate which is shifting consumer focus towards adopting healthy and food and drinks. The prevalence of obesity was 42.4% in 2017~2018. During 2017–2018, the prevalence of obesity increased from 30.5% to 42.4%, and the prevalence of severe obesity increased from 4.7% to 9.2%.

Key Developments:

1.      In September 2020, Oatly has launched a chilled Organic plant-based oat drink in Tesco stores across the U.K. The drink contains just four ingredients; organic oats, water, organic rapeseed oil, and a hint of sea salt. The drink is best in cereal, smoothies, and for drinking straight

2.      In March 2020, Arla has entered the market for plant-based products with the launch of three oat-drinks introduced under the new brand. This includes JÖRĐ Oat is a pure oat drink with a fresh and pure taste, JÖRĐ Barley has a delicate sweetness from barley, and JÖRĐ Hemp has an oat base balanced with the subtle nuttiness of organic hemp

3.      In October 2020, Califia Farms has expanded its range of plant-based drinks with the launch of a new long-life Oat Drink, now available in Sainsbury’s.

4.      In May 2017, PepsiCo has launched its third product under the nutrition category: Quaker Oats + Milk. It has been co-created by Sachin Tendulkar who worked closely with the R&D team at PepsiCo India


Location: India

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