The global oatmeal market is expected to be worth US$5.3 Bn in 2022, and to increase at a CAGR of 6.8% over the forecast period, reaching US$10.8 Bn in 2032. Oatmeal is the end product of processed, crushed, or rolled oat grains consumed mostly during breakfast. Oatmeal is enjoyed with fruits, nuts, milk, and many other nutritious beverages.
Oatmeal has a distinctive nutritional value, which makes it the most consumed cereal globally. Nutritional benefits reaped by consumers include; fiber, protein, minerals, and vitamins.
Oats offer many health benefits, such as the prevention of cardiovascular diseases, diabetes, and obesity. The unsaturated fatty acid content contained in oatmeal makes it efficient for the lowering of cholesterol.
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It’s also imperative in the fight against cancer because of the antioxidant property. The absence of gluten in oat is also a plus for the market as consumers are willing to spend more on gluten-free products. The global oatmeal market is estimated to witness significant growth due to the growing demand for convenience food items globally. The food and beverage industry has increased oatmeal production to meet the consumers’ demand. The oatmeal sales will increase exponentially during the forecast period as the population size of vegans is rising.
Also, the spontaneous rise in consumers’ disposable income in developing nations like China, India, and Japan is expected to create a surge in demand for oatmeal as most of these consumers are involved in busy lifestyles.
Oatmeal Market Growth Driven by Consumers’ Changing Lifestyles
As the world is evolving, so is the consumers’ lifestyle. Presently, most individuals are involved in strenuous activities that make them lazy and unable to cook. The food and beverage industry has focused on this consumers’ sentiment by innovating time-saving food products like oatmeal to globally foster the growth of its market. Consumers spend the majority of their earnings on healthy time-saving food items with high nutritional value. The global oatmeal market, a segment under the convenience food category, is expected to grow tremendously during the forecast period as the food and beverage industry grows.
In addition, the growing popularity among consumers regarding the health benefits offered by plant-based products is suspected to foster the growth of the industry. Veganism is on the rise in the Asia Pacific and North America and is expected to drive the global oatmeal market’s growth since it’s a cereal product. Furthermore, manufacturers are adopting new business strategies such as merging acquisition, consolidation, and product innovation to fuel the industry’s growth and expand its products to regions where they have no foothold.
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Oatmeal Market Restraint
Oatmeal can be substituted by products like buckwheat, quiona, brown rice, cornflakes and other convenience food products.
And this has a negative impact on the growth of the market as the competition from these substitute products might decline oatmeal sales globally.
Oatmeal Market: Region-wise Analysis
Based on geography, the global oatmeal market is dominated by Europe since the revenue generated annually from this region is higher than that of any other.
With prominent players present in this region, Europe is expected to remain in dominance during the forecast period and aftermath.
North America and the Asia Pacific are expected to be the fastest-growing market over the foreseeable period due to the rising demand for oatmeal from various end-user sectors like the cosmetic and food and beverage industries.
Latin America, Africa, and the Middle East are estimated to register significant growth as the market is fresh in these regions.
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Oatmeal Market: Competitive Landscape
The global oatmeal market is highly fragmented with few major players operating in it. Leading players in the industry are;
- Quaker Oats Company
- Bagrry’s India Ltd.
- General Mills
- Dr. McDougall’s Right Foods.
- Abbott Nutrition
- Conagra Foods
- ABF Grain Products Limited
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
Global Oatmeal Market Segment Analysis
The global oatmeal market can be segmented on the following basis:
- Whole Oat Grains
- Instant Roll Oats
- Steel Cut Oats
- Regular Rolled Oats
By Distribution Channel
- Convenience Stores
- Specialty Stores