Oat-Based Snacks Market Size By Product (Oat-Based Bakery and Bars and Oat-Based Savory), By Distribution Channel (Online and Offline), Regions, Segmentation, and forecast till 2030.
Pune India, Jan. 03, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the oat-based snacks market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the oat-based snacks market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, distribution channel and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating 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. To achieve a substantial market share in the worldwide oat-based snacks market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Oats are a rich source of antioxidants, fiber, vitamins, and minerals that make food products made from them nutritious. Oat-based snacks are extremely well-liked because of their many health advantages and great nutritional value. There is a huge selection of nutritious snacks on the market worldwide. Typically, these snacks are eaten with breakfast. Over the forecast period, it is expected that demand for oat-based snacks would increase as consumers become more aware of their high nutritional content. Oats lower the risk of diabetes and cardiovascular disease while also promoting healthy weight loss and metabolism. As a result, producers of processed foods and snacks are putting more of emphasis on using healthful components like oats. Growing consumer concern over the chemicals, additives, and preservatives used in snacks is predicted to have a beneficial impact on product demand. Oat-based snacks now have more shelf space in a variety of supermarkets, department stores, hypermarkets, and even online merchants. One of the biggest grocery chains in India and a subsidiary of Shoppers Stop, HyperCITY, started its e-commerce portal in January 2018. These programs should encourage the consumption of nutritious snacks.
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Scope of Oat-Based Snacks Market Report
|
Report Metric |
Information |
|
Study Period |
2022-2030 |
|
Base Year |
2022 |
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Forecast Period |
2023-2030 |
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Market Share Unit |
USD Billion |
|
Segments Covered |
Product, Distribution Channel and Regions |
|
Regions Covered |
North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
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Major Players |
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 |
Segmentation Analysis
The out-based bakery and bars segment is expected to be the fastest-growing segment in 2022.
The product segment is an oat-based bakery and bars and oat-based savory. The out-based bakery and bars segment is expected to witness the highest growth rate during the forecast period. Major manufacturers are using marketing strategies like joint ventures and new product launches to broaden their consumer base. For instance, in June 2017, General Mills and Nestlé made the decision to establish the joint venture Cereal Partners Deutschland. (CPD). This joint venture will market a range of cereal bars under the Nestlé brand. The nutritive advantages of wholegrain cereals and oat flakes are present in these bars despite the absence of artificial coloring or flavoring. Crunchy chocolate, almond, and pumpkin seeds are the three tastes available for these treats. Such new product launches are likely to boost the product segment over the forecast period.
The online segment is expected to be the fastest-growing segment in 2022.
The distribution channel segment is online and offline. The online segment is expected to witness the highest growth rate during the forecast period. The choice of consumers to purchase food items like oat-based snacks on e-commerce marketplaces like Walmart, Amazon, Auchan, Grofers, and Rakuten has also been heavily influenced by online marketplaces like social media and google ads. The category is also expected to grow as more people utilize cell phones and high-speed internet. The online grocery market is booming in developing countries like India. Global merchants and e-commerce behemoths like Amazon, Alibaba, and Walmart are investing in these countries to improve their competitiveness.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the oat-based snacks include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
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The Europe region witnessed a major share. Major producers like Nestlé, General Mills, and Kellogg are using a range of marketing strategies, including new product launches, product innovation, retail chain growth, and mergers and acquisitions, to gain a competitive edge in the market. For instance, in November 2018, Nestlé released a new flavor of Oat Cheerios in the UK. The product is offered as part of the company’s assortment of breakfast cereals. Thanks to this new product, the demand for oat-based snacks has increased.
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. It is customary to eat it as a breakfast snack in Germany. Their top focus is maintaining a healthy diet because obesity is the nation’s biggest issue. Oat-based snacks, which have more dietary fiber, can take the place of common snacks. Dietary fiber slows down the digestive process, which reduces appetite.
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. Due to increased per capita spending on food and beverages, China is anticipated to experience the fastest growth rate during the forecast period. To satisfy customer demand, local manufacturers are prepared to ramp up production.
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. The arrival of novel products will allow the region’s manufacturers to broaden their product offerings with oat-based goods. Additionally, it is projected that over the forecast period, consumer demand would increase as more people become aware of the significant health benefits of snacks made with oats. Oats reduce the incidence of diabetes and cardiovascular diseases while also enhancing digestion and successful weight loss.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of oat-based market is mainly driven owing to the rising in health consciousness.
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