Global Oat-Based Snacks Market 2017-2021
About Oat-based Snacks
Oat-based snacks are becoming increasingly popular across the globe. Companies are strategizing on launching innovative flavors of oat-based snacks, like cookies, bars, cakes, or savory snacks, to extend their consumer base, which will in return help them augment their respective market shares. As per Technavio's analysis, the market will be predominantly dominated by the prominent vendors, who will take part in most of the innovations in terms of new product launches and formulate comprehensive marketing strategies. Yet the relatively smaller and regional companies are also anticipated to increase their market share by offering culture-specific oat-based snacks.
Technavio’s analysts forecast the global oat-based snacks market to grow at a CAGR of 3.66% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the oat-based snacks market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of oat-based snacks.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Oat-based Snacks Market 2017-2021
Technavio recognizes the following companies as the key players in the global oat-based snacks market: General Mills, Kellogg, Mondelēz International, Nairn’s Oatcakes, and Quaker Oats Company
Other Prominent Vendors in the market are: Bobo’s Oat Bars, Britannia Industries, Curate Snacks, and Pamela’s Products
Commenting on the report, an analyst from Technavio’s team said: “The term premiumization was coined in the early 1990s to open up new avenues within the alcohol and beverage market. Over the years, this strategy has penetrated into different industries within the fast-moving consumer good segment across the world. This strategy focuses on offering specific consumer goods at a much higher price than the conventional products within a product category. For instance, in January 2016, an Indian muesli provider, Bagrry's, launched a new product called Masala Oats at almost double the price than the existing oat-based products. The company added relatively expensive ingredients like olive oils and other premium spices to ensure its premiumization strategy goes well in the market. Bagrry's was successful to target the premium consumer segment with Masala Oats and eventually sold over 40,000 packets within the first three months of launch in India.”
According to the report, in this era of online shopping, baked savory snacks marketers are also offering their products on the online platform through e-tailers. They provide various product offerings in various price segments not only through third-party portals but also through their own online shopping portal. General Mills and Kellogg have their own online portals to sell their products. In 2015, Kellogg started a subscription for snacks on its online portal Kellogg's Store.
Further, the report states that a large number of vendors purchase or source ingredients, commodities, and other raw materials from third-party suppliers. Improper handling of these raw materials or supplies can affect the safety and quality of the food in which they are used. The only ingredient in oatmeal is oat grain. The thinner-skinned grains are preferred as they have a high protein content. The thin-skinned oats are used in 60% of the oat-based food products, while thick-skinned oats are used in 50% of the oat-based food products. These grains should be milled quickly to prevent spoilage and boll weevil infestation. Rancidity is another concern in the milling of oats. The lipase enzyme can create a soapy taste because of the high fat content, which can be controlled by steaming the oats.
General Mills, Kellogg, Mondelēz International, Nairn’s Oatcakes, Quaker Oats Company, Bobo’s Oat Bars, Britannia Industries, Curate Snacks, Pamela’s Products.