The global oat-based snacks market is expected to grow at a CAGR of close to 4% during the forecast period, according to Technavio’s latest report.
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Technavio has published a new report on the global oat-based snacks market from 2017-2021. (Photo: Business Wire)
In this report, Technavio covers the market outlook and growth prospects of the global oat-based snacks market for 2017-2021. By product type, this market is divided into bakery and bars, and savory snacks segments.
With increasing shift towards healthy eating habits, there is an increasing preference for oat-bases snacks among the consumers. These products have multiple nutritional values, and vendors are constantly introducing new product categories for consumers, thereby ensuring a constant demand. Gluten-free and low-calorie oat-based snacks are especially famous and are majorly driving market growth.
Technavio’s research study segments the global oat-based snacks market into the following regions:
- Europe
- Americas
- APAC
- MEA
Europe: largest oat-based snacks market
“The oat-based snacks market in Europe occupies the largest share in the market and is expected to be valued at USD 6.07 billion by 2021. With the growing awareness of the benefits provided by following a healthy lifestyle, European consumers are increasingly opting for oat-based products as a snacking option,” says Moutushi Saha, one of the lead analysts at Technavio for food research.
To augment the high demand from a health-conscious crowd, major global vendors are also promoting oat consumption through various strategic initiatives through campaigns or setting up temporary restaurants. Such initiatives will increase the demand for packaged oat-based snacks during the forecast period.
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Americas: oat-based on-the-go breakfast ensures steady demand from market segment
The Americas will display a stable growth in the forecast period, with oat-based on-the-go breakfasts such as breakfast bars, creating a steady demand in the market. Additionally, oat-based energy bars such as granola bars are widely consumed in North American countries like the US and Canada, which will account for a significant portion of the market revenue. South American countries are expected to grow at a slower rate, where the market is slowly developing, augmented by increasing disposable incomes of the consumers.
APAC: fastest growing oat-based snacks market segment
“The oat-based snacks market in APAC is expected to experience the highest growth rate, with a CAGR of almost 4% through 2021. This high growth will be propelled by the improving lifestyles, increase in the number of middle-class households, and changing consumer preferences,” says Moutushi.
The youth in developing countries like China and India are showing increasing preference towards high-fiber products like oat-based snacks that are light and healthy. The large population in these countries have encouraged vendors like Kellogg, PepsiCo, and United Biscuits to introduce products that are targeted towards this demographic, thus driving market growth.
MEA: vendors venture into market segment with high untapped potential
The majority of the people in the Middle East are rich, well-travelled and health-conscious. These consumers demand high-quality oat-based products of international standards, which has led to several product suppliers like Cereal Partners Worldwide to venture into the Middle Eastern markets. Likewise, the concern over health and wellness is gradually leading to the adoption of oat-based snacks in African countries. Consumers in the region demand for gluten-free grains, which has encouraged several vendors to set up factories in Africa. The new manufacturing units set-up in MEA is expected to generate significant demand in the region during the forecast period.
The top vendors in the global oat-based snacks market highlighted in the report are:
- General Mills
- Kellogg
- Mondelez International
- Narin’s Oatcakes
- Quaker Oats Company
Browse Related Reports:
- Global Oatmeal Market 2016-2020
- Global Cereal Bars Market 2016-2020
- Global Naturally Healthy Foods Market 2016-2020
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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