The Europe Oat Milk Market would witness market growth of 13% CAGR during the forecast period (2020-2026). Among consumers, there has been a rise in the popularity of the vegan diet in the past few years which has driven the demand for dairy substitute beverages. Consumers are also shifting their attention toward plant-based milk owing to health, ecological, as well as ethical factors, thereby accelerating the market growth. This variation in preferences and tastes toward plant-based beverages is specifically observed among consumers in Europe. Therefore, the surge in inclination toward veganism is considered as a vital factor for boosting the demand for plant milk, and hence, the oat milk.
Additionally, rising cases of lactose intolerance among consumers has resulted in increasing demand for dairy substitutes over the forecast years. In some countries, plant-based milk is not permitted to considered as milk and hence, imposed with higher tax in comparison with dairy milk, this factor can restrict the oat market growth. Due to the outbreak of the COVID-19, the demand for functional beverages has increased. This is owing to rising consumer spending, more health consciousness, and increasing awareness about strengthening immune system to prevent infection among users.
Consumers are ordering bulk supplies because of lockdown in various major cities across the globe owing to the shelf stability of oat milk as oat milk products can be kept for a longer duration as compared to other non-dairy milk products. Moreover, oat milk has a lesser carbon footprint compared to other milk products, which additionally boosting the industry growth.
Based on Source, the market is segmented into Conventional and Organic. Based on Packaging, the market is segmented into Carton, Bottle and Other Packaging. Based on Product, the market is segmented into Flavored and Plain. Based on Application, the market is segmented into Food and Beverages. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Oat Milk Market in Europe is expected to register a CAGR of 13% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Hain Celestial Group, Inc., PepsiCo, Inc., Danone S.A., Campbell Soup Company (Pacific Food), Elmhurst 1925 (Elmhurst Milked, LLC), Califia Farms LP, Happy Planet Foods, Inc., Rise Brewing Co., Thrive Market, Inc. and Oatly AB (Cereal Base Ceba AB).
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