Oat Protein Market - Growth, Trends and Forecasts (2019 - 2024)
Global oat protein market is forecasted to grow at a CAGR of 1.22% during the forecast period (2019-2024).
The oat protein market is driven by various factors, such as increasing awareness about protein-rich diets and an increasing inclination towards a vegan diet, by consumers worldwide. The high nutritional value of oat protein has exacerbated its adoption trend.
The oat protein market is witnessing increasing demand in almost all the applications, such as in food, beverages. Moreover, it is increasingly being used in health supplements, as it contains amino acids which aid in muscle growth and repair. It plays a major part in sports nutrition as it has application in protein bars and shakes. All these factors are expected to drive the growth of the global oat protein market.
Scope of the Report
Global oat protein market offers isolates and concentrates forms of oat protein applicable to food, beverages, personal care/ cosmetics, and other industries. The study also covers the geographic analysis of the most active regions such as the United States, Canada, China, Japan, Germany, Netherlands, Central Europe
Key Market Trends
Beverages Segment Growing with the Fastest Growth Rate
The key segment is expected to garner a significant revenue share over the forecast period, which is in inline with the growth of plant protein-based beverages consumption across developed economies. The rising consumer interest in boosting protein intake along with the desire for clean labeling, ease of digestion, the need or desire to avoid allergens, and compatibility with vegetarian and vegan lifestyles are some of the key factors expected to play a significant role in determining the demand for oat protein across beverages.
The United States Dominates the Global Market
According to the study conducted by FAO, in the United States, oats are the third most important grain crops and seventh, in terms of volume of production, after maize, rice, wheat, barley, sorghum, and millet. It is primarily consumed to reduce the risk of heart diseases, by reducing the cholesterol level in the body. For instance, Fazer Mills, an international family-owned company, offers Fazer Aurora Oat Beta Glucan plant-based protein that contains the highest concentration of oats, along with a neutral color. It reduces cholesterol levels and provides digestive benefits.
Global oat protein market is fragmented and largely reckoned by small scale players. Significant major players are embarking on strategies, such as product innovation, expansion, and acquisition since there is a small room for growth over the near future. The demand for oat protein is nullified by the surging growth of pea and soy as base plant protein, wherein, major players have invested a notable amount of investment to push the market forward.
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