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Global Shift toward Plant-based Diets and Veganism Igniting Adoption of Oat Flour: Fact Report
ROCKVILLE PIKE, MARYLAND, UNITED STATES, June 3, 2024 /EINPresswire / -- According to a new report published by Fact, the global oat flour
market is forecasted to be worth US$ 4.41 billion by the end of 2034, up from US$ 2.7 billion in 2024, expanding at a CAGR of 5%. Rising popularity of plant-based diets and veganism across several parts of the world is positively influencing oat flour consumption.
High in nutrients and derived from plants, oat flour is suitable for both vegetarian and vegan diets. Its comparatively high protein level also draws consumers who wish to consume more plant-based protein, which adds to its expanding fan base. The health benefits and nutritional makeup of oat flour play a significant role in product adoption worldwide.
Oat flour is widely recognized for its ability to lower cholesterol, promote feelings of fullness, and enhance digestive health. Oat flour's high fiber, protein, and vitamin content improves digestion, provides sustained energy, helps with weight control, and promotes heart health.
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Key Takeaways from Market Study
The global oat flour market is estimated to reach a valuation of US$ 2.7 billion in 2024. The North American market is estimated at a value of 646.3 million in 2024. East Asia is projected to account for 23.1% of the global market share by 2034. Demand for oat flour in Japan is projected to reach a market value of US$ 299.2 million by the end of 2034.
The market in the United States is poised to reach US$ 287.6 million in 2024. The South Korean market is evaluated to expand at 5.7% CAGR through 2034. Based on distribution channel, supermarkets are expected to hold 24.2% market share in 2024. By product, the conventional oat flour segment is projected to reach US$ 2.43 billion by the end of 2034.
“Demand for oat flour is growing steadily, driven by its versatile applications in various food items such as thickening sauces, gravies, soups, and baking goods like bread, cookies, muffins, and pancakes,” says a Fact analyst
Convenience Factor in Supermarkets Promoting Repeat Business and Impulsive Purchases of Oat Flour
Supermarkets distribute an extensive quantity of oat flour for several reasons, including giving consumers a simple one-stop shopping experience by letting them purchase oat flour and other groceries from one easy location. This convenience factor encourages repeat business and impulsive purchases. To satisfy a broad range of consumer tastes and dietary requirements, supermarkets typically stock a huge variety of oat flour brands and product alternatives.
Oat flour's increased sales volume is also linked to its strategic placement on store shelves and innovative marketing initiatives carried out by supermarkets. To draw in budget-conscious customers and increase sales, supermarkets generally provide oat flour goods at competitive prices with special discounts.
Regional Analysis
Oat flour is a popular option for those maintaining a gluten-free diet, as it is naturally gluten-free. Its inherent gluten-free properties make it suitable for baking, cooking, and other culinary uses. This versatility, along with its affordability, is contributing to its growing popularity in the United States.
Cultural interest in plant-based cuisine in Japan is driving the demand for oat flour. This flour provides protein, fiber, and other essential nutrients without the need for animal products, making it a versatile and healthy alternative to conventional flour. Its application in various recipes and food products offers Japanese consumers, who are increasingly favoring plant-based options, a practical and appealing choice that meets their nutritional goals and supports a more sustainable food system. These factors are contributing to the rising adoption of oat flour in Japan.
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Top Key Players are Richardson International Ltd.; Co-operative Bulk Handling Ltd.; Morning Food; Shipton Mill; The Hain Celestial Group, Inc.; Bay State Milling Company; Avena Foods; Glebe Farm Foods; Sunrise Flour Mills; Bagrry's India, Ltd.; Bob's Red Mill Natural Foods; Ausee Oats Milling.
Competitive Landscape
Key players in the oat flour industry are competing on product quality, distribution channels, and innovation. The increasing consumer demand for healthy and gluten-free alternatives is expected to create new market growth opportunities in the coming years.
In September 2023, Federal Oat Mills (FOM) Sdn Bhd inaugurated a US$28 million state-of-the-art facility in Penang Science Park, Simpang Ampat, Malaysia, with the capacity to process 60,000 metric tons of oats annually.
Additionally, in September 2023, Hershey Canada, a subsidiary of The Hershey Company, launched its first plant-based chocolate bar, Hershey's Oat Made.
More Valuable Insights on Offer
Fact, in its new offering, presents an unbiased analysis of the oat flour market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on nature (organic, conventional), distribution channel (direct, supermarkets, convenience stores, specialty stores, online retail), and end use (breakfast cereals, bakery products, confectioneries, dairy products, feed industry, personal care & cosmetics, households/ retailers), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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