The global market for oat drinks is estimated to grow by leaps and bounds, in line with the unquenchable demand for plant-based beverages. Gains are underpinned by rising consumer quest for healthy alternatives to carbonated drinks, with high levels of taste and wholesomeness. These insights are garnered from the latest report published by XploreMR that offers a panoramic view of the oat drinks landscape and brings key insights to the fore.
On analyzing the micro and macro growth parameters of oat drinks market, the XploreMR research study has found that the significant rise in disposable income has led to better choices among consumers, including food and beverages. The on-going trend of food fortification also has a blurred yet significant influence on the sales of oat drinks, creating ample scope for market players to innovate with their existing and new offerings, opines the study.
“As per the report, sales of oat drinks have hit new records during the past few years and are set for massive growth ahead, for the fact that plant-based beverages are gaining massive popularity than ever. Rising trend of dietary assessments by consumers is paving lucrative avenues for the leading brands offering oat drinks.” says the report
Leading brands, with an objective of capitalizing on the increasing popularity of plant-based beverages, are foraying into this category via launch of exclusive assortments. For instance, in 2019, Califia Farms launched its exclusive line of oat milks in line with the ever-growing consumer bias towards plant-based nutrition.
Consumer Familiarity with Oats as a Healthy Food Underpins Demand
While there is significant demand for many other products in the plant-based beverages category, oat drinks demonstrate the potential to carve out a significant pie of the overall market share. This can be attributed to the fact that oat drinks not only have great texture and taste, but also offer higher nutritional value. As consumers are already familiar with oats and see it as a popular category of healthy foods, it’s no surprise that the demand for oat drinks will grow at a healthy rate.
Manufacturers in the oat drinks category are not only focusing on high-quality offerings, but are also emphasizing on product transparency as a key sales driver. Key brands in the oat drinks market space realize that labelling products with the whole life cycle impacts a clearer system for the consumers, making it easy for them to make purchase decisions. Manufacturers are also focusing on strategic alliances, mostly mergers and acquisitions, to foster growth via combined expertise. With an objective of grabbing attention of a larger consumer base, brands are devising strategies that include innovative and creative packaging formats, launch of new flavors, and offering drinks with natural and organic ingredients.
The XploreMR research study offers a comprehensive view of multiple opportunities brimming in the oat drinks market from 2018 to 2027. According to the report, the oat drinks market is estimated to grow at an impressive CAGR during the assessment period.