U.S. Oat-based Snacks & Beverages Market - Focused Insights 2024-2029

U.S. OAT-BASED SNACKS & BEVERAGES MARKET OVERVIEW

The U.S. oat-based snacks & beverages market was valued at USD 3.59 billion in 2023 and is projected to reach USD 5.23 billion by 2029, growing at a CAGR of 6.44% during the forecast period. The market is growing significantly due to increasing consumer demand for healthier foods like oats, a paradigm shift toward plant-based foods, the availability of a wide range of oat-based products, and new product launches by key players combining various nutrients to provide high nutritional value to consumers.

The study considers a detailed scenario of the present oat-based snacks & beverages market and its market dynamics for 2024−2029 in the U.S. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent players operating in the market.

MARKET DEFINITION

Oat-based snacks and beverages refer to food and drink products primarily made from oats or oat-derived ingredients. These items include snacks such as granola bars, cookies, crackers, and beverages like oat milk and oat-based coffee beverages. As oats contain vitamins and minerals, the demand for oat-based snacks and drinks is increasing, especially among health-conscious males and females. After the onset of the COVID-19 pandemic, the adoption rate of plant-based food among Americans is increasing faster. Also, the proportion of the vegetarian and vegan population is increasing in the U.S., fueling a high adoption of oat-based snacks & beverages.

MARKET DRIVERS

Growing Consumer Demand for Healthier Foods and Increased Popularity of Oats: The growing demand for healthier foods has increased the popularity of oats across various dietary preferences, including vegetarian, non-vegetarian, and vegan populations. Oats gained recognition for their nutritional benefits and versatility, making them popular for individuals seeking healthier and more balanced diets. Oats are plant-based ingredients with high nutritional value, providing vitamin E, folates, zinc, iron, copper, and manganese. They are more beneficial than other plant-based products, as oat meals provide high nutritional value, reducing the risk of cardiac disorders and diabetes. Another major factor behind the rising popularity of oat-based food is social influence. Social media platforms have become channels for sharing recipes, and oats are often featured in healthy recipes shared by influencers and food bloggers, which attracts people towards healthier food alternatives.

Paradigm Shift Toward Plant-based Foods: The paradigm shift toward plant-based foods represents a significant change in dietary patterns and consumption habits across the globe. This shift is driven by various factors, including health and wellness concerns, environmental sustainability, animal welfare considerations, and the desire for more ethical and responsible food choices. The rising prevalence of chronic and long-term illnesses has led to increased awareness of a healthy and disease-free lifestyle. People prefer food products with high nutritional value and healthy products. Plant-based food products are high in antioxidants, minerals, and fibers. Thus, people are shifting their preferences toward plant-based foods.

U.S. OAT-BASED SNACKS & BEVERAGES MARKET INSIGHTS

• Oat-based snacks in the product segment have the largest market share of over 80% in the U.S. oat-based snacks & beverages market. These snacks leverage the nutritional benefits of oats, which are rich in fiber, vitamins, and minerals. In recent years, oat-based snacks have gained significant popularity in the U.S., driven by a growing interest in healthy and sustainable food choices.
• Oat-based bakeries and snacks under the oat-based snacks segment are growing significantly, with the fastest CAGR of 4.92% during the forecast period. Oat-based bakery and snack bars have gained popularity in recent years for several reasons, reflecting shifting consumer preferences and trends toward bakery and snack products.
• The flavored oat-based beverages segment is growing rapidly, with the highest CAGR of 13.42% during the forecast period in the U.S. market. Consumer preferences and marketing strategies drive the segment. Flavored beverages offer various tastes and flavors, catering to diverse consumer preferences. This variety appeals to individuals seeking unique and enjoyable taste experiences. Flavored oat beverages appeal to a younger demographic that values variety and experimentation in food and beverage choices.
• The female segment is seeing prominent growth and has the largest market share in the U.S. oat-based snacks & beverages market. The segment growth is primarily due to the perception of women on oat-based products as a healthier alternative. Oats are naturally gluten-free, which makes them suitable for females with gluten sensitivities or following a gluten-free diet. This characteristic can contribute to the popularity of oat-based snacks and beverages among females with specific dietary preferences.
• Online stores in the distribution segment are growing significantly, with the fastest CAGR of 8.75% during the forecast period. Online platforms provide enhanced consumer choices due to intensified competition and elevated price levels, thereby facilitating individuals' acquisition of goods at affordable rates. It drives the demand for oat-based snacks and beverages in the U.S. market.

VENDOR LANDSCAPE

The U.S. oat-based snacks & beverages market report contains exclusive data on 38 vendors. The U.S. oat-based snacks and beverages market is highly competitive, with many players. In this market, small and niche players are growing significantly. Niche players focus on providing various products, enhancing their competitive edge and market penetration. Abbott, Bobo's, Danone, Britannia Industries Ltd, General Mills, Elmhurst, Milked Direct LLC, Kellogg's, Mondelez International, The Quaker Oats Company, Nairn's Oatcakes Limited, Nestle, Oatly Inc, Pacific Foods, and Rude Health are leading players with strong market penetration.