Oatmeal Market to Account to USD 14.08 Bn in 2027 Growing at 4.2% During 2019-2027
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Oatmeal Market Competitive Landscape: A Look at Oatmeal Brands and Their Strategies
NEW YORK, NEW YORK, UNITED STATES, March 14, 2023 /EINPresswire.com/ -- The global oatmeal market1 at US$ 9.86 Bn in 2018 and is expected to grow at a CAGR of 4.2% during the forecast period 2019 – 2027, to account to US$ 14.08 in 2027. In Europe, since 2016, almost 70% of the cereals launched are oat-based. Although porridge launches are more active in the region as compared to other regions. With the approval of the EU for oat products, health claim in 2013 increased the demand for oatmeal across Central Europe. Most of the oats consumed in Europe are produced within the region and imported across neighboring countries.
The oatmeal market in Asia Pacific region is accelerating with a fastest growth rate. The region comprises of several developing countries particularly, South-East Asian countries, witnessing a rise in middle class population. Also, China and India is noticing high growth in the demand for oatmeal. Further, the emerging middle class is anticipated to account for 3 Bn by 2020. A trend towards health consciousness is noticed among some of the middle class population thus, creating an opportunity for the oatmeal market. As per the director of grains research and innovation at Department of Agriculture and Food Western Australia, the interest in consumption of oats as human food is majorly noticed for traditional oat products such as rolled and flaked oats. Also, a trend towards ready-to-make oatmeal in also noticed in the region.
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Australia is one of the major oat producer in the region. Around half of the oats are produced in the Western Australia. A significant portion of oats produced in Australia is exported to south-east Asian countries. Owing to the increasing demand for oats, the industry is focusing on increasing its capability to serve the international as well as regional demand. For instance, Co-operative Bulk Handling (CBH) Group entered the market by acquiring Blue Lake Milling, a key oat products manufacturer in Australia in 2015. The acquisition was aimed at tapping the south-east Asian oat market as well as to develop significant presence in the Asia Pacific. Further, the company opened a new facility in Forrestfield to focus on China market. Also, UniGrain has invested a significant amount in the past few years for expanding its operating capacity to fulfil the rising demand. In 2017, Freedom Foods and Seamild Group, an oat-based cereal producer partnered to improve its Seamild branded oat products.
Key findings of the study:
The global oatmeal market is profoundly captured by several established companies as well as regional players across the globe. These companies are facilitating to meet the constantly increasing demand from customers. Attributing to the fact, the oatmeal companies are highly focused on offering unique oatmeal with different flavors and taste at a competitive price. Some of the recent developments in the oatmeal market include:
In 2016, McCann’s Irish Oatmeal announced the expansion of its product portfolio by launching three new product lines namely McCann’s Traditional Steel Cut Irish Oatmeal Gluten-Free; McCann’s Quick & Easy Steel Cut Irish Oats Single Serve Microwavable Cups, and Non-GMO Certified McCann’s Steel Cut Irish Oatmeal.
In 2019, Nestlé Toll House launched two cookie dough range for the consumer as a snacking option. The ingredients of the dough include peanut butter, oats, and the dough contain no artificial flavors.
In 2018, The Quaker Oats Company announced the launching of oat-based beverages in the US. The beverage would come in three flavors and is expected to be sold at a price of US$4.29.
Oats are essential part of the country’s diet and thus, the oatmeal consumption is high in the UK country. In May 2018, Arla Foods entered the U.K. breakfast food-to-go market with a launch of new milk & oats range as well as ready-to-drink beverages. Also, in October 2018, Quaker launched a new campaign, ‘I owe it to Oats’, to refresh the brand name by communicating the power of the oat. The campaign featured a series of stories focused on the Quaker’s key health pillars. Further, in July 2017, the company launched its ‘on-the-go’ breakfast range, which included ‘Porridge To Go’- made of wholegrain oats.
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Some of the prominant market players operating in the market are B&G Foods, Inc., Bagrrys India Limited, Hamlyns of Scotland, Kellogg Company, Nature's Path Foods Inc., Nestlé S.A., The Quaker Oats Company, Weetabix Limited, World Finer Foods Inc., McCann’s Irish Oatmeal, Grain Millers Inc., Trader Joe's, Marico Limited among other prominent market players.
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