Portland, OR, Feb. 04, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global oat milk market garnered $360.5 million in 2019, and is projected to generate $995.3 million by 2027, witnessing a CAGR of 13.4% from 2021 to 2027.The report offers anextensive analysis of changing market dynamics, top winning strategies, major investment pockets, key segments, value chain, and competitive scenario.
Increase in adoption of vegan diet, availability of diverse plant-based beverages, and rise in prevalence of lactose intolerance and milk allergiesfuel the growth of the global oat milk market. However, lack of permission to plant-based milk in many countries hindersthe market growth. On the other hand, popularity of novel functional beverages and huge potential in the developing countries create new opportunities in the next few years.
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Covid-19 Scenario:
- The demand rose during the Covid-19 pandemic as consumers were inclined to opting foods that would strengthen their immune system. The however, manufacturing activities of oat milk have been hindered as factories were closed down with implementation of the lockdown.
- There has been a supply-demand gap as transportation activities were affected during the lockdown in many countries. Furthermore, online channels banned delivery of goods and supermarkets were shut down.
- As governments relaxed lockdown restrictions, the production resumed, the supply chain got back on track, and supermarket stores opened. The supply-demand gap is expected to narrow down.
The report provides detailed segmentation of the global oat milk market based on source, flavor, distribution channel, and region.
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By source, the conventional segment accounted for the highest market share in 2019, contributing to more than four-fifths of the total market share, and is projected to maintain its dominance in terms of revenue during the forecast period. However, the organic segment is estimated to grow at the highest CAGR of 14.7% from 2021 to 2027.
By distribution channel, the supermarket & hypermarket segment held the largest market share in 2019, contributing to nearly two-fifths of the global oat milk market, and is expected to maintain its lead position by 2027. However, the online retail segment is projected to maintain the highest CAGR of 14.1% during the forecast period.
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Based on region, Asia-Pacific is expected to witness the largest CAGR of 16.7% from 2021 to 2027.However, Europe accounted for the highest share of the total market, contributing to around two-fifths of the total share in 2019, and will maintain its leadership status throughout the forecast period.
Major players of the global oat milk market analyzed in the research includeCalifia Farms, LLC, Pacific Foods of Oregon, LLC. (Pacific foods), Hain Celestial (Dream), HP HOOD LLC. (Plant Oat), Danone (Silk), Elmhurst Milked Direct LLC, Cereal Base Ceba AB (Oatly), Happy Planet Foods Inc., RISE Brewing Co., and Earths Own Food Company.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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