Oats Market Forecast (2024-2031), Size, Share
The oats market size is projected to reach US$ 11.05 billion by 2031 from US$ 8.35 billion in 2023. The market is expected to register a CAGR of 3.6% in 2023–2031. A surge in demand for convenience food and an increased preference for healthy meals and breakfast, coupled with the fast-paced lifestyle of the working populace, is likely to remain a key oats market trends.
Oats Market Analysis
Oats are rich in complex carbohydrates, providing a steady release of energy and helping to keep blood sugar levels stable. They are also high in dietary fiber, including soluble and insoluble fibers. The growing awareness of health and wellness among consumers has driven the demand for nutritious and wholesome food products. The popularity of oats has extended beyond traditional breakfast cereals. Oat-based products such as oat milk, flour, bars, and snacks have increased. The plant-based and dairy-free trends have contributed to the surge in oat milk consumption as a popular milk substitute. As consumers become more health conscious, they incorporate oats into their diets, increasing demand for oat-based products. Additionally, food manufacturers have been incorporating oats into various products to cater to the growing demand for healthier and sustainable food options. All these factors are anticipated to drive the oats market growth.
Oats Market Overview
Oats are made of protein, minerals, vitamins, dietary fiber, and carbohydrates. They are also high in antioxidants, which assist in protecting the body from chronic diseases, such as diabetes, cardiovascular disease, and cancer. The increasing awareness of the numerous benefits of consuming oats is prompting manufacturers to incorporate oats into various uses, including food & beverages, animal feed, cosmetics, and others. Moreover, compared to other cereals, oats have a balanced amino acid composition and a higher concentration of crucial amino acids, such as lysine, making them livestock farmers' most preferred feed ingredient. Oats can be fed to ruminants and monogastric animals, both. Pets, such as cats and dogs, also digest oats easily. Hence, it can also be used as cereal ingredients in animal diets. The fat level of oats improves the energy content, which is essential in horse feed.
Oats in pet food help in reducing allergies and gut discomfort. Oatmeal improves fur shine, reduces diarrhea, and is an ideal solution for gluten absorption issues. It aids in milk production because of its high fat content and nutritional value. Due to all these factors, the demand for oats in the cattle feed business is increasing. Reduced methane emissions are another advantage of feeding naked oats and naked/low lignin husked oat mix to animals.
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Oats Market: Strategic Insights
Market Size Value in US$ 7,764.49 million in 2021 Market Size Value by US$ 9,939.82 million by 2028 Growth rate CAGR of 3.6% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Oats Market: Strategic Insights
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Market Size Value in | US$ 7,764.49 million in 2021 |
Market Size Value by | US$ 9,939.82 million by 2028 |
Growth rate | CAGR of 3.6% from 2021 to 2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
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Oats Market Drivers and Opportunities
Surging Demand for Cosmetics and Personal Care Products Globally Bolsters Oats Market Growth
Oats (Avena sativa) are high in several dietary fiber components, such as mixed-linkage (1→3), (1→4)-β-D-glucan arabinoxylans, and cellulose. The polysaccharide-glucan neutral cell wall has exceptional functional and nutritional qualities. It achieves high viscosities at relatively low concentrations and is especially important in human nutrition. Soluble oat fiber lower high blood cholesterol, triglyceride, and glucose levels. In addition, oats contain a lot of fat, are high in oleic and linoleic acids, and contain vitamins B1, B2, and B6 and A, K, and E. They also include beneficial minerals, vitamins, sterols, and antioxidants. The fatty acid content of oats is more beneficial than other cereals. Oats have 1%–3% higher crude protein than barley or maize. Furthermore, oats provide one of the richest dietary soluble fiber beta-glucan sources, providing 5.0 g (oatmeal) to 7.2 g (oat bran) per 100 g serving. Both are high in dietary fiber, ranging from 9.9 to 14.9 g per 100 g serving. Oats also have a higher lipid content (5-9%) than other cereal crops and are high in unsaturated fats, particularly the essential fatty acid linoleic acid. They have avenanthramides, which are unique antioxidants. They also contain tocotrienols and tocopherols, vitamin E-like substances.
Growing Demand for Oats in Personal Care Industry
Food-derived components in personal care products also give the skin a sense of health and nutrition. Oats have always been thought of as nutritious food, but their popularity has surged in recent years due to the inclusion of novel products and growing recognition as an element with low allergenic potential but high, proven therapeutic benefit. Moreover, since Roman times, oats have been used to soothe and restore the skin and reduce inflammation and redness. Natural oat extracts are a novel source of oat-based cosmetic raw materials with known active components, such as avenanthramides, proteins, and beta-glucans. At low concentrations, avenanthramides have been proven to reduce histamine release. At the same time, oat beta-glucans increase pro-collagen synthesis, plumping the skin, reducing wrinkles, and restoring the skin's natural moisture barrier. In addition, other oat components, such as oat oil and hydrolyzed oat protein, have specific cosmeceutical benefits, making oats useful in cosmetics in various ways.
Oats Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Oats Market analysis are process and application.
- Based on the process, the oats market is bifurcated into rolled and steel-cut. The rolled segment held a larger market share in 2023.
- In terms of category, the oats market is segmented into organic and conventional. The organic segment held the largest share of the market in 2023.
- In terms of nature, the oats market is divided into gluten-free and conventional. The conventional segment held the largest share of the market in 2023.
- On the basis of form, the oats market is divided into flakes, flour, and others. The flakes segment held the largest share of the market in 2023.
- In terms of applications, the oats market is bifurcated into food & beverages, animal feed, personal care, and others. The food & beverages segment held the largest share of the market in 2023.
Oats Market Share Analysis by Geography
The geographic scope of the Oats Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Oats are an excellent plant-based alternative to dairy milk and are used in various dairy alternatives, including oat milk, oat yogurt, and oat-based desserts. This trend has further driven the demand for oats in the region. In addition, the long history of cultivation and consumption, especially in Northern and Western Europe, has established cultural preferences for oats and contributed to the region's oats market growth.
Oats Market Report Scope
Oats Market News and Recent Developments
The oats market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for oats and strategies:
- Tirlán, the country's largest dairy company and the biggest buyer of Irish grains has expanded their oat portfolio to include Organic Oat-Standing™ Functional Oat Flour, which helps manufacturers meet demand for organic, natural and other oat product. Organic Oat-Standing™ Functional Oat Flour is milled through a proprietary process and provides consistent viscosity throughout heating and cooling cycles. This unique ingredient offers valuable functional properties, clean labelling, and whole grain benefits and flavour. (Source: Tirlán Limited, Press Release, 2023)
Oats Market Report Coverage and Deliverables
The "Oats Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter's Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Process, Category, Nature, Form, and Application
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
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- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.