CAGR: 5.10%Current Market Size: USD 18.6 BillionFastest Growing Region: APAC
Largest Market: EuropeProjection Time: 2023-2030Base Year: 2022
The global oat-based snacks market is expected to grow from USD 18.6 billion in 2022 to USD 27.6 billion by 2030, at a CAGR of 5.10% during the Projection period 2023-2030. The growth of the oat-based market is mainly driven owing to the rise in health consciousness.
Oats are good for you, but they're not exactly convenient. Customers believe that oats have a dull flavor and must be cooked. However, there is a lack of consumer knowledge about the health benefits of oats, thus oat-based snacks can easily replace porridge due to the presence of high fiber and antioxidant content. They are a great source of essential vitamins and minerals as well as a gluten-free whole grain. Oats are incredibly nutrient-dense and are now available in a variety of products that support weight loss, lower blood sugar levels, and lessen the risk of heart disease. So far, it is anticipated that the market for snacks made from oats will be driven by the numerous health benefits that oats offer. One of the key factors propelling the market for oat-based snacks is the rise in health consciousness around the world. The market is growing faster due to an increase in oat consumption, which helps to enhance metabolism and healthy weight loss while lowering the risk of diabetes and cardiovascular disease. The market is also influenced by the increased prevalence of chronic conditions like obesity, diabetes, and cardiovascular diseases, as well as the growing knowledge of the ingredients, chemicals, and preservatives used in snacks. The market for snacks made from oats is also benefited from growing food consumption, rising food spending, rising consumer health consciousness, and media influence on consumer awareness.
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Market Dynamics:
Drivers:
Oats are good for you, but they're not exactly convenient. Customers believe that oats have a dull flavor and must be cooked. However, there is a large amount of consumer knowledge about the health benefits of oats, thus oat-based snacks can easily replace porridge due to the high fiber and antioxidant content. They are a fantastic source of essential vitamins and minerals as well as a gluten-free whole grain. Oats are incredibly nutrient-dense and are now available in a variety of products that support weight loss, lower blood sugar levels, and lessen the risk of heart disease. So far, it is anticipated that the market for snacks made from oats will be driven by the numerous health benefits that oats offer.
Restraints:
People have adopted the vegan trend and have begun to seek plant-based and vegan food items. Vegan food is considered to be high in nutrition and has decent fiber and offers additional health benefits to consumers. Oat-based snacks are not vegan but gluten-free, which hinders the market’s growth.
Opportunities:
Consumers have begun consuming food items that offer additional advantages for good health. These are some of the most common chronic health conditions in the world: cholesterol, respiratory conditions, coronary artery disease, colorectal cancer, blood pressure, digestion, and obesity. In comparison to other grains, oats have a good amount of high fiber, including cereal fiber and -glucan, both of which are very helpful in lowering the risk of chronic disease. Because oat-based foods enhance the body's reaction to insulin, they may be a better choice for someone with low blood sugar issues. Products made from oats are beneficial for reducing the risk of cardiovascular illnesses, diabetes, and metabolism.
Challenges:
The market for oat-based snacks will be constrained in its growth by the high cost of food supplements. The availability of alternatives and the possibility of contamination is anticipated to restrain market expansion. The market for oat-based snacks is expected to face challenges from strict food regulations throughout the Projection period.
Segmentation Analysis:
The global Oat-based snacks market has been segmented based on product, distribution channel, and region.
By Product
The product segment is an oat-based bakery and bars and oat-based savory. The oat-based bakery and bars segment led the largest share of the Oat-based snacks market with a market share of around 55% in 2022. To increase their consumer base, major manufacturers are implementing marketing methods like joint ventures and new product releases. For instance, General Mills and Nestlé decided to form Cereal Partners Deutschland, a joint venture, in June 2017. (CPD). Under the Nestlé name, this joint venture will sell a variety of cereal bars. These bars lack artificial coloring or flavoring yet have the nutritious benefits of wholegrain cereals and oat flakes. These snacks come in three flavors: crunchy chocolate, almond seeds, and pumpkin seeds. Over the Projection period, it is anticipated that such new product introductions will boost the product segment.
By Distribution Channel
The distribution channel segment is online and offline. The online segment led the largest share of the Oat-based snacks market with a market share of around 56% in 2022. Additionally, online marketplaces like social media and google ads have significantly influenced consumer choice toward e-commerce marketplaces like Walmart, Amazon, Auchan, Grofers, and Rakuten to buy food items like oat-based snacks. The segment is also anticipated to rise as high-speed internet and cell phones become more widely used. In emerging nations like India, the internet grocery industry is flourishing. Global retailers and e-commerce giants like Walmart, Alibaba, and Amazon are making investments in these nations to strengthen their position in the industry.
Global Oat-Based Snacks Market- Sales Analysis.
The sale of the Oat-based snacks market expanded at a CAGR of 4.30% from 2016 to 2022.
Calcium, potassium, sodium, iron, copper, manganese, vitamins, and amino acids are added to oat-based snacks. Natural antioxidants are also a part of them. There is a tonne of snacks with ingredients high in gluten available on the international market. Many people cannot eat these products because they are gluten intolerant. Snacks made of oats are meeting the need on the market for gluten-free goods. Businesses are developing a variety of oat-based snacks, including toasters, bars, packed bars, nibbles, and a wide range of variety packs, which are luring consumers. To increase their client base, businesses are also introducing new types of snacks made from oats. It is projected that future investors in the oat-based snacks market would see larger profits due to the rising demand among the world's population.
The quick shift in eating patterns and the rising desire for healthy snacks are to blame for the oat-based snacks market significant expansion. Snacks made with oats are thought to be a plentiful supply of essential nutrients like antioxidants, carbs, minerals, vitamins, and others. Over the Projection period, rising awareness of the high dietary benefits of oat-based bites is anticipated to increase consumer interest. Oats improve digestion and healthy weight loss while lowering the risk of diabetes and cardiovascular diseases. As a result, producers of processed foods and snacks are focusing more on substantial ingredients like oats. It is anticipated that the market will be fueled by evolving dietary trends and easy access to inventive products.
Thus, owing to the aforementioned factors, the global oat-based snacks market is expected to grow at a CAGR of 5.10% during the Projection period from 2023 to 2030.
Regional Analysis:
The regions analyzed for the oat-based snacks market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Europe region dominated the Oat-based snacks market and held a 38% share of the market revenue in 2022.
Global Oat-Based Snacks Market- Country Analysis:
Germany's oat-based snacks market size was valued at USD 0.36 billion in 2022 and is expected to reach USD 0.53 billion by 2030, at a CAGR of 5.10% from 2023 to 2030. In Germany, it is used as a breakfast snack. A healthy diet is their main priority because obesity is the population's biggest problem. The typical snacks can be replaced with oat-based snacks because they have greater nutritional fiber. Dietary fiber causes the digestive process to take longer, which decreases hunger.
China’s oat-based snacks market size was valued at USD 0.26 billion in 2022 and is expected to reach USD 0.37 billion by 2030, at a CAGR of 4.7% from 2023 to 2030. China is expected to see the highest growth rate over the Projection period due to rising per capita spending on food and beverages. Manufacturers in the area are prepared to increase their manufacturing activity to meet client demand.
India's oat-based snacks market size was valued at USD 0.23 billion in 2022 and is expected to reach USD 0.31 billion by 2030, at a CAGR of 4.2% from 2023 to 2030. Due to the introduction of cutting-edge items to diversify their product line with oat-based goods in the region. Additionally, it is anticipated that greater knowledge of the high health benefits of oat-based snacks will spur consumer demand over the Projection period. Oats improve digestion and effective weight loss while lowering the risk of diabetes and cardiovascular illnesses.
Key Industry Players Analysis:
To increase their market position in the global oat-based snacks market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
5.10% |
Market Size |
18.6 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product, By Distribution Channel, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
omay foods, earnest eats, grami superfoods, the quaker oats company, the Indian co Exim, nourish organics, vegan Dukan, myprotein, mensxp, the snack company, sunfast farmlite, bagrry, highkey, atrium shutrum, bobo's, refrigerated & frozen foods, haldiram’s, cowhead, kind, global food world, hummusapien, snackamor, yumicious, my little moppet, monsoon harvest, General Mills, Kellogg, Mondelez International, Britannia Industries., and Nairn's Oatcakes. |
By Product |
|
By Distribution Channel |
|
Regional scope |
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Scope of the Report
Global Oat-Based Snacks Market By Product:
Global Oat-Based Snacks Market By Distribution Channel:
Global Oat-Based Snacks Market By Region:
Global oat-based snacks market is expected to reach USD 27.6 billion by 2030.
The oat-based snacks market is projected to have a CAGR of 5.10%.
Oat-based snacks are the ideal product to meet the enormous demand for healthy items among consumers who are concerned with their overall health. Oat-based snacks are becoming more and more popular all over the world because of their higher nutritional value and numerous health advantages.
Leading market players active in the global oat-based snacks market are Kellogg NA Co., Mondelez International, Britannia Industries., NAIRN'S OATCAKES LIMITED, The Quaker Oats Company, BOBO'S, Uncle Tobys, Libre Naturals Inc, STOATS, SERIOUS FOODS BELGIUM sprl, Seven Sundays, Del Monte Food, Inc, Chicago Bar Company LLC., Hearthside Food Solutions LLC, PATERSON ARRAN, nature delivered ltd, General Mills among other
Based on the product, the global oat-based snacks market has been segmented into oat-based bakery and bars and oat-based savory.
Political Factors- The manufacturers of oat based snacks such as Quaker Oats operates in several nations. Governments regulations depending upon the country they are operating in. Therefore, it's critical for the business to retain political ties and keep an eye on political stability. Additionally, it keeps strong ties with the local administration, which are essential for formulating and carrying out policies. Additionally, it must be aware of the parent nation's international agreements and adapt its strategies accordingly. The company's trading strategy and budgetary allocations may change as a result of the epidemic. In other nations, like India, local brands are supported and given subsidiaries. The company must keep an eye on the political policies of the nations where it conducts business as the world moves toward deglobalization.
Economic Factors- The pandemic has caused the global economy to collapse. Several manufacturing units of oat snacks were damaged because immunisation is still in its early stages and the economy is growing slowly. The foreign exchange risk should also be handled with caution by market players such as Quaker oats. Since it operates in numerous nations, it ought to exercise greater caution when deciding whether to launch a business there. In order to develop new plans, the corporation should concentrate on the numerous economic indicators, as many nations anticipate negative growth in the upcoming fiscal year. This pandemic also decreased the household's average spending. The majority of families have cut back on their usage.
Social Factors- Students, fitness freaks, and singles are primarily the target market for oat based market. Numerous people's lifestyles were also impacted by this pandemic. People began converting to healthier eating practises. The general populace now has a higher degree of education. They are totally informed on the healthier knowledge. The business should concentrate on developing new product lines that appeal to consumers. They ought to concentrate on those who experiment with cooking and prepare novel foods. If the business offers fresh dishes to try, it will draw in more clients. People's habits and tastes vary constantly because the company is in the food industry. Therefore, it is crucial to constantly monitor people's lifestyles and behaviours.
Technology Factors- Mass production is used in the food based industry, particularly by some of the prominent market players such as Quaker Oats, and there is little variability in the method. The business added automation processes as a result. The business might use the newest technologies to enhance the procedure. To enhance the process along the entire value chain, the organisation should increase its research and development spending. New technology can also be incorporated into their supply chain network. Additionally, it enables their suppliers and distributors to adopt new technologies that promote growth and prosperity for all.
Environmental Factors- The company uses a lot of energy because it produces a lot of things. The majority of the energy produced by fossil fuels is used by the oat based snacks manufacturers such as Quaker Oats, increasing the carbon footprint. Therefore, businesses should adopt green energy practises and contribute to environmental protection. The corporation must adhere to safe environmental procedures because different countries have varied environmental legislation. Additionally, it needs to strengthen its worldwide supply network so that natural disasters won't disrupt it. Due to the favourable perception that consumers have of eco-friendly items, it should also utilise sustainable packaging.
Legal Factors- There are many standards and regulations to adhere to because oat based snacks works in the food industry. The laws governing food safety vary from one country to the next. The business should confirm that these are incorporating accepted quality control procedures. The business operates in various countries, so it makes sure to abide by all regulatory requirements when establishing the plant and conducting business. Customers should be guaranteed by market players that they are receiving the right products, together with the correct information and ingredients. There will be serious repercussions if any ingredient or product doesn't live up to the company's advertising. Each country has its own labour regulations, therefore the business must incorporate its legal requirements in accordance with those of the specific country.
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