The global oat milk industry was valued at USD 3.01 billion in 2023 and is expected to grow from USD 3.46 billion in 2024 to USD 10.83 billion by 2032, reflecting a CAGR of 15.32% during the forecast period. In 2023, Asia Pacific led the global market with a 50.5% share.

In the U.S., the oat milk industry is projected to reach USD 2.01 billion by 2032, supported by rising demand for plant-based dairy alternatives.

Leading companies in the sector are focusing on innovation, sustainability initiatives, and strategic partnerships to strengthen their positions. Brands are customizing products to meet evolving consumer preferences while addressing the competitive nature of the industry.

Oat milk is a plant-based beverage produced primarily from oats and water, often fortified with essential vitamins and minerals. It offers a dairy-free, lactose-free, and nut-free alternative, making it suitable for consumers with dietary restrictions and those shifting toward plant-based eating habits. Growing health awareness, increasing cases of lactose intolerance, and a broader movement toward vegan and flexitarian diets are driving market expansion. The category is expected to grow substantially in the coming years, supported by ongoing product innovations and greater visibility across retail channels.

Information Source: https://www.fortunebusinessinsights.com/oat-milk-market-110935 

Segmentation Insights

  • Type: Conventional oat milk remains the dominant segment due to its cost-effectiveness and wide availability.
  • Packaging: Cartons are the preferred packaging choice, valued for their long shelf life and ease of storage.
  • Flavor: Unflavored oat milk holds the largest share, driven by its versatility in coffee, smoothies, recipes, and baking.
  • Distribution: Supermarkets and hypermarkets lead distribution, offering consumers a broad range of options and convenient access.

Report Scope

This analysis provides a detailed overview of the oat milk market, covering product types, packaging trends, flavor preferences, distribution channels, and broader market dynamics. It also examines growth drivers, emerging opportunities, and key strategies employed by major market players.

Market Drivers & Challenges

As reported by Boston Children's Hospital, an estimated 30–50 million people in the United States are lactose intolerant, significantly increasing the adoption of oat milk as a dairy-free substitute. While the market continues expanding rapidly, oat milk remains less mainstream in certain regions, which limits its full penetration globally.

Regional Overview

Asia Pacific accounted for 50.61% of the global market in 2023, supported by heightened interest in plant-based diets and growing health consciousness in countries such as China and India. North America is projected to maintain consistent growth, driven by strong brand presence from companies like Oatly Group AB, Danone S.A., Califia Farms, Ripple Foods, and Planet Oat, all of which benefit from high customer loyalty.

Competitive Landscape

The oat milk market shows moderate competition, with companies investing in research, innovation, acquisitions, and strategic partnerships to broaden their global footprint. These initiatives are aimed at adapting to shifting consumer preferences and maximizing opportunities in the fast-growing plant-based beverage category.

Key Players

  • HP Hood LLC (U.S.)
  • Danone S.A. (France)
  • Chobani, LLC (U.S.)
  • Campbell Soup Company (U.S.)
  • Oatly Group AB (Sweden)
  • Califia Farms (U.S.)
  • Hain Celestial Group, Inc. (U.S.)
  • Smile Foods (U.S.)
  • Boring (New Zealand)
  • Earth's Own Food Company (Canada)

Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/oat-milk-market-110935 

Recent Updates

  • September 2024: Forbidden Foods, an Australian company, acquired Oat Milk Goodness (OMG), expanding its portfolio of oat-based and flavored beverages and bolstering its presence in the growing plant-based drinks segment.