Global Oats Market: Brief Account
The global oats market is anticipated to exhibit a strong growth during the forecast period 2018 – 2026, owing to change in lifestyle and rapid urbanization. Oat is considered to be an excellent source of fiber. It is made of oat grains. The major reason that is driving the market is the nutritive value that it has. Increasing population of people who are health concerned is compelling oats manufacturers to tune up their production rate in order to meet the rising demand. Increasing demand for oats have made manufacturers to increase their research and development activities to produce various forms of oats to lure customers. High demand for healthy bakery products is helping oat cookies to gain popularity. Apart from these, promotion of oats on various medium is pushing the market in forward direction.
Global Oats Market: Drivers and Restrains
Rapid urbanization and consumption of unhealthy food products have significantly impacted the health conditions. This has increased the demand for oats all across the world. Gradual shift towards healthy lifestyle is supporting the market growth. Oat consists of high protein, minerals, dietary fiber, vitamins, and carbohydrates. Oats are also enriched in antioxidants that helps to safeguard body against various chronic diseases such as diabetes, cardiovascular diseases, and cancer. Growing awareness regarding various benefits associated with the consumption of oat is accelerating market growth.
Another reason that is increasing the demand for oats is the noteworthy rise in working class. Hectic lifestyle and long work hours has dropped consumption of breakfast at a global scale. Need for a quick breakfast that has nutritive value is attracting consumers. Oats are easy to cook and stay fresh for a longer period. Instant oats have also found its application in making of cookies, breads, and muffins. Oats are available in various flavors, which provides a treat to consumer taste buds, this is expected to drive the global market. Surge in obesity cases throughout the globe is increasing demand for oats as it reduces cholesterol level, preventing obesity and overweight problems.
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Global Oats Market: Regional Outlook
The global oats market is divided into Europe, Latin America, Asia Pacific, Middle East and Africa, and North America. Of these, North America holds the leading position due to large contribution from the U.S. High demand for convenience food is driving the market in the region. Surge in obesity cases in the region due to irregular eating habits has predicted to propel the market demand. Increasing replacement of bagels and cereals as breakfast with oats is fostering market to grow. However, Asia Pacific is anticipated to exhibit a steady growth rate in the upcoming years.
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Global Oats Market: Companies Mentioned
Some of the key players in the market are Abbott Nutrition, ABF Grain Products Limited., Dr. McDougall’s Right Foods., General Mills, Quaker Oats Company, and Keellogg’s.