PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1561794
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1561794
Global Oat-Based Breakfast and Snacks Market is valued at approximately USD 2.98 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 5.6% over the forecast period 2024-2032. Oats, known for their high fiber, protein, antioxidant, and vitamin content, offer numerous health benefits, including cholesterol reduction and digestive support. These attributes have made oat-based products particularly attractive to health-conscious consumers. The growing trend of organic food consumption further accelerates the demand for organic oat-based products such as breakfast cereals and oat flour, as consumers increasingly seek out products that align with a natural and minimally processed diet. Additionally, the rising popularity of plant-based dairy alternatives among vegan and lactose-intolerant populations is boosting the demand for oat milk, which is steadily replacing traditional dairy milk in several developed markets.
The market's growth is further fueled by the rising demand for healthy breakfasts that are both quick to prepare and nutritionally rich. Oat-based products, such as instant oatmeal, are perfectly positioned to meet this demand, offering convenience without sacrificing health benefits. Key players in the industry are innovating to develop new oat-based products that cater to this trend. For instance, the Quaker Oats Company's launch of instant oats porridge pouches under the Quaker-to-go breakfast range is a testament to the growing popularity of these products. However, the market faces challenges from the availability of substitute products such as quinoa, buckwheat, and brown rice, which offer similar nutritional benefits. These alternatives, particularly in the ready-to-eat food segment, may slow the growth of oat-based products. Additionally, the longer cooking time of oats compared to some substitutes could act as a restraint on market expansion.
The key regions considered for the Global Oat-Based Breakfast and Snacks Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Oat-Based Breakfast and Snacks Market in terms of revenue. The market growth in the region is being attributed to factors including the increasing popularity of instant healthy breakfast cereals. The region's consumers are increasingly favoring oat-based products as functional foods that offer both convenience and health benefits. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by increasing consumer awareness of the health benefits of oats. Consumers in this region are increasingly turning to healthy snacks, with oatmeal products meeting the demand for nutritious daily diet options.