The lasers in oat milk market size was estimated at USD 3.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of +9% from 2021 to 2027
Rising consumer awareness about the advantages of oat milk, increasing popularity vegan diet, and rising cases of dairy milk allergies are likely to boost the product demand over the forecast period.
Oat milk is a plant-based and lactose-free drink that is majorly used as a dairy milk alternative in tea, smoothies, coffee, and various health drinks as it is rich in iron, potassium, calcium, and vitamin D. Furthermore, oat milk also provides a substantial proportion of calcium and protein.
Intake of calcium in adequate amount reduces the chances of osteoporosis and also helps in muscle and nerve function, maintaining cardiovascular health. Such health benefits offered by oat milk increases its demand. Rising instances of lactose intolerance is also boosting product demand. In addition, owing to the Covid-19 pandemic, the sales are rapidly increasing.
Consumers are buying supplies in bulk due to lockdown in many major cities across the globe. Being shelf-stable, most of the oat milk brands can be stored for a longer duration than the other non-dairy milk products. Furthermore, oat milk has a smaller carbon footprint than other milk products, which is another major factor driving the industry growth.
Some of the key players profiled in the Oat Milk market includes:
- Danone S.A.
- Pacific Food
- Califia Farms LP
- Thrive Market
- Happy Planet Foods
- and Rise Brewing Co.
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Carton segment accounted for the largest share of 49.2% in 2019 owing to the growing demand for high-quality tetra packs and high shelf-life solutions. Moreover, the rising adoption of tetra pak carton packages, manufactured mainly using paperboard and definite layers of aluminum foil and polyethylene, is expected to increase the segment growth. Key players are spending heavily in carton packaging on account of its sustainability and lightweight property.
Additionally, innovations, such as UV protection and refrigeration compatible cartons, are driving the segment growth. Carton solutions are ideal for universities and schools as they are easy to stock, lightweight, and don’t add up to non-biodegradable waste. Thus, manufacturers are spending on several marketing programs to propose a modern packaging solution to target the young population.
To increase sales, manufacturers and suppliers are focusing on innovative and attractive packaging with catchy and bright colors. Though oat milk in carton packaging has a maximum share in the market, the bottles packaging segment is anticipated to experience the fastest growth over the coming years.
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Lasers in Oat Milk Market Segmentation
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