In the 21st
century, the low cholesterol levels and lactose-free properties of plant-based
milk have made it a popular option amongst health-conscious vegan consumers.
Plant-derived milk such as oat milk is rich in carbohydrates, proteins, fats,
vitamins, and minerals. Demand in the oat milk market is driven by the
millennial and urban middle-class demographic. Research suggests that oat milk
is quite similar to soy protein, attracting the attention of customers seeking
greater health benefits. In addition, a rising prevalence of lactose
intolerance along with veganism in western countries, is anticipated to spur
demand in the oat milk market.
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Coffeehouses Releasing
Oat Milk Variants to Cater to Demand in Oat Milk Market
To capitalize on the
vegan shift, several cafes and processed food manufacturers now offer oat milk
as a primary ingredient. In 2020, Starbucks released oat milk lattes across its
chain of coffeehouses in the US. The response was so encouraging that Starbucks
followed up with the Honey Oatmilk Latte and Iced Brown Sugar Oatmilk Shaken
Espresso this year. Other companies are also eyeing oat milk products. In 2021,
British confectionary giant Cadbury’s launched HiP (Happiness in Plants) – an
oat milk chocolate. HiP has four variants – Cookies No Cream, Salty Pretzel,
Smooth & Creamy, and Salted Caramel. Such vegan, clean label, lactose-free foods
are predicted to benefit the global oat milk market throughout the assessment
period.
Easy Availability of
Conventional Oat Milk Allows it to Race Ahead in Oat Milk Market
The global oat milk
market can be classified into the organic and conventional segment. The easy
availability of conventional foodstuffs explains their lead in the global oat
milk market. Although organic oat milk is still at a nascent stage, an
increased consumer pull for such products should boost its prospects in the
near future.
Widespread Awareness
and Ethical Concerns Fuel Demand in Europe Oat Milk Market
Europe and North
America are expected to adopt oat milk considerably quicker than developing
regions as consumers there have a greater awareness of lactose intolerance and
ways to tackle it. Furthermore, western countries have a much higher disposable
income, wider availability of oat milk flavors, presence of large-scale
manufacturers, and a growing preference for veganism. Traditionally a
meat-eating continent, European consumers have become more mindful about animal
cruelty and the side effects of consuming dairy from animals raised on feed
additives.
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Largest Company in the
Oat Milk Market Goes Public With Others Likely to Follow
In May 2021, Oatly,
the largest company actively involved in the oat milk market, decided to go
public. Once a niche product, oat milk is now commonplace not only in
Starbucks, but also in Target stores and Alibaba in China. Oatly research
states that almost 2/5th of adults in the US, UK, Germany, and Sweden tried
plant-based milk alternatives in Q1 2021. Other companies profiled in the oat
milk market are SunOpta Inc, Danone SA, Sanitarium Health & Wellbeing,
WhiteWave Services, Inc. (Silk), HP HOOD LLC (Planet Oat), Pureharvest, Califia
Farms, LLC, Otis Oat M!lk and Vitasoy International Holdings Limited.
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