Global Oat Based Snacks Market Overview
Oat Based Snacks Market Size was estimated at 10.83 (USD Billion) in 2022. The Oat Based Snacks Industry is expected to grow from 11.84(USD Billion) in 2023 to 26.3 (USD Billion) by 2032. The Oat Based Snacks Market CAGR (growth rate) is expected to be around 9.28% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Oat Based Snacks Market Trends Highlighted
In recent years, there has been an escalation in the demand for oat based snacks due to rising awareness about health and the growing need for quick and healthy foods. This trend is expected to continue for some more years to come. Growth factors are from rising population, discretionary income, and lifestyle changes. In addition to that, the rising veganism and gluten-free trends have offered the opportunity for oat-based products to target a wider consumer base. Markedly, the recent past has seen the imposition of very innovative packages with very tasty foods to snack on. However, the focused rise in oat based snacks sales over the last year has been due to gradual changes in consumer preferences towards the purchasing of snacks over the internet.
Oat Based Snacks Market Drivers
Rising Health Consciousness
Today, consumers are more aware of the health benefits of consuming oat. Moreover, oat is a significant source of fiber, protein, and powerful antioxidants. It shows some useful health benefits, including cutting the risk of heart disease, lowering blood pressure, reducing stroke risk, and limiting the threat of getting type 2 diabetes. Furthermore, people are looking for healthy snacks that can fit into their busy lifestyles. The Oat Based Snacks Market Industry will grow exponentially in the coming years as people continue to long for a healthy as well as convenient snack that can fit into their busy lifestyles.
Growing Popularity of Plant-Based Diets
The growing popularity of plant-based diets is another leading driver of the oat-based snacks market. Not only does the vegan diet take the environment into consideration, but it also takes animal welfare and one’s health into consideration. Oat based snacks are advisable for people following plant-based diets, as they are made of whole grains and do not contain any animal products. On the whole, the Oat Based Snacks Market Industry will take advantage of the growing popularity of plant-based diets.
Increasing Demand for Convenient and Healthy Snacks
The growth of the oat-based snacks market is also being driven by rising consumer demand for easy and healthy options. Today, besides being convenient, snack foods must have some health benefits for the masses. As an excellent source of fiber and protein, oat-based snacks can meet these requirements. Besides, it could also be consumed on the run. The oat based snack market will continue to grow as more consumers seek convenient and healthy snack options.
Oat Based Snacks Market Segment Insights
Oat Based Snacks Market Flavor Insights
The Flavor segment of the Oat Based Snacks Market is of considerable significance, and there are several flavors that are contributing to the overall market growth. First, Original is the most popular choice, accounting for a considerable market share. This is explained by the fact that normal-flavored snacks taste classic and are versatile. Chocolate is the second most desired flavor because it is rich and sweet, satisfying the tastes of a significant proportion of the world population. Next, Fruit flavors, such as Strawberry and Banana, are gaining popularity.They are popular because they are considered healthier and more refreshing. Apple Cinnamon flavor is also popular because it recalls warm flavors and cinnamon characteristics. Additionally, Pumpkin Spice is a seasonal flavor, and it is especially desired during fall as it promotes the sales of the market at a certain time. The revenue of the Oat Based Snacks Market is going to reach heights in the future years, and the role of the Flavor segment is considerable. It is achieved due to market segmentation, which is targeting specific consumer demand, which is determined by their flavor preferences.Data and statistics of the Flavor segment provide important information concerning the flavors that are becoming of more interest and causing the market growth. The world market is characterized by innovation, and manufacturers are introducing new tastes, which causes the market to expand because the tastes of the population are diverse and constantly changing.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Oat Based Snacks Market Type Insights
The Type segment of the Oat Based Snacks Market is categorized into Granola Bars, Oatmeal Cookies, Oatmeal Cups, and Oatmeal Cereal. Among these, Granola Bars hold the largest market share due to their convenience, portability, and nutritional value. The rising health consciousness among consumers has fueled the demand for Granola Bars as they are perceived as a healthier snacking option. Oatmeal Cookies also account for a significant share of the market, driven by their traditional appeal and nostalgic value. Oatmeal Cups have gained popularity in recent years due to their ease of preparation and the variety of flavors available.Oatmeal Cereal remains a staple breakfast item, particularly in North America and Europe, contributing to its steady market share. The increasing adoption of plant-based diets and the growing awareness of the health benefits of oats are expected to drive the growth of the Oat Based Snacks Market in the coming years, with all segments benefiting from this trend.
Oat Based Snacks Market Application Insights
Application Segment Insight and Overview The application segment plays a crucial role in shaping the Oat Based Snacks Market. Breakfast holds the dominant share due to the increasing popularity of convenient and nutritious breakfast options. The growing demand for healthy and filling snacks is driving the growth of the lunch application segment. The dinner application segment is expected to witness steady growth as consumers seek healthier alternatives to traditional dinner options. The snacks application segment is projected to expand significantly, driven by the rising trend of on-the-go consumption and the availability of a wide range of flavors and varieties.By 2026, the Oat Based Snacks Market revenue for the snacks application segment is anticipated to surpass $5.2 billion. This growth will be fueled by growing urbanization, increasing disposable income, and changing consumer preferences.
Oat Based Snacks Market Distribution Channel Insights
Supermarkets, hypermarkets, convenience stores, and online retailers are the key distribution channels for the Oat Based Snacks Market. Supermarkets and hypermarkets hold a significant market share due to their extensive reach and wide product offerings. They offer a diverse range of oat-based snacks, including bars, cereals, and cookies, catering to the needs of a large customer base. Convenience stores are gaining popularity as they provide convenient and accessible options for consumers seeking quick and easy snacks. Online retailers are also witnessing substantial growth, driven by the increasing popularity of e-commerce and the ease of home delivery.The Oat Based Snacks Market is expected to witness a significant increase in revenue through these distribution channels in the coming years, with online retailers projected to grow at the fastest rate.
Oat Based Snacks Market Target Customer Insights
Health-conscious consumers are a major target customer segment for the Oat Based Snacks Market, driven by the rising awareness about the health benefits associated with oats. The market segmentation data shows that in 2023, this segment accounted for a significant portion of the Oat Based Snacks Market revenue, and it is projected to continue growing steadily in the coming years. Convenience-seekers represent another important segment, as the demand for quick and easy-to-consume snacks is on the rise. Weight-loss seekers are also a key target group, as oats are perceived as a healthy and filling snack option.Lastly, energy boosters are another important segment, as oats are a good source of fiber and carbohydrates, which provide sustained energy levels.
Oat Based Snacks Market Regional Insights
The Oat Based Snacks Market is segmented into North America, Europe, APAC, South America, and MEA. The North American region is expected to dominate the market throughout the forecast period, owing to the increasing demand for healthy and convenient snacks. The European region is expected to witness significant growth due to the growing awareness of the health benefits associated with oat-based snacks. The APAC region is anticipated to be the fastest-growing region, driven by increasing urbanization and rising disposable incomes. The South American and MEA regions are also expected to witness steady growth due to the increasing demand for nutritious and convenient snacks.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Oat Based Snacks Market Key Players And Competitive Insights
Major players in Oat Based Snacks Market are focusing on expanding their product portfolios and geographical reach to cater to the growing demand for healthy and convenient snacks. Leading Oat Based Snacks Market players are investing in research and development to innovate new products and flavors that meet evolving consumer preferences. The Oat Based Snacks Market industry is characterized by intense competition, with established brands and emerging players vying for market share. Mergers and acquisitions are also shaping the competitive landscape as companies seek to consolidate their positions and gain access to new markets.Among the leading Oat Based Snacks Market players, Quaker Oats Company, a subsidiary of PepsiCo, Inc., holds a significant market share. The company offers a wide range of oat-based snacks, including oatmeal, granola bars, and snack bars. Quaker Oats has a strong brand reputation and distribution network, which contribute to its dominant position in the market. The company is also actively involved in product innovation, recently launching new flavors and formats to cater to consumer demand.A prominent competitor in the Oat Based Snacks Market is Nature's Path Foods, Inc. The company specializes in organic and non-GMO oat-based products, including granola bars, oatmeal, and cereals. Nature's Path Foods has a strong presence in the natural and organic food market, targeting health-conscious consumers. The company is known for its commitment to sustainability and ethical sourcing practices, which resonate with its target audience. Nature's Path Foods continues to expand its product line and distribution channels to gain market share and meet the growing demand for healthy and eco-conscious snacks.
Key Companies in the Oat Based Snacks Market Include
- Kellogg's
- ADM
- Diamond Foods
- General Mills
- Ardent Mills
- Hain Celestial Group
- Campbell Soup Company
- Mars
- Mondelez International
- Quaker Foods
- Nestle
- PepsiCo
- Richardson International
- SunOpta
- Glanbia
Oat Based Snacks Market Industry Developments
The oat-based snacks market is projected to grow from USD 11.84 billion in 2023 to USD 26.3 billion by 2032, at a CAGR of 9.28% during the forecast period. Increasing health consciousness among consumers, coupled with the rising prevalence of chronic diseases, is driving the demand for healthier snacking options. The growing popularity of plant-based diets and the increasing awareness of the nutritional benefits of oats are also contributing to the market growth. Furthermore, the expansion of the retail sector and the growing availability of oat-based snacks in various flavors and formats are expected to further boost the market growth. Key industry participants are focusing on product innovation and strategic partnerships to cater to evolving consumer preferences and expand their market presence.
Oat Based Snacks Market Segmentation Insights
- Oat Based Snacks Market Flavor Outlook
- Original
- Chocolate
- Fruit (Strawberry, Banana, etc.)
- Apple Cinnamon
- Pumpkin Spice
- Oat Based Snacks Market Type Outlook
- Granola Bars
- Oatmeal Cookies
- Oatmeal Cups
- Oatmeal Cereal
- Oat Based Snacks Market Application Outlook
- Breakfast
- Lunch
- Dinner
- Snacks
- Oat Based Snacks Market Distribution Channel Outlook
- Supermarkets
- Hypermarkets
- Convenience Stores
- Online Retailers
- Oat Based Snacks Market Target Customer Outlook
- Health-Conscious Consumers
- Convenience-Seekers
- Weight-Loss Seekers
- Energy Boosters
- Oat Based Snacks Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
10.83(USD Billion) |
| Market Size 2023 |
11.84(USD Billion) |
| Market Size 2032 |
26.3(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
9.28% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Kellogg's, ADM, Diamond Foods, General Mills, Ardent Mills, Hain Celestial Group, Campbell Soup Company, Mars, Mondelez International, Quaker Foods, Nestle, PepsiCo, Richardson International, SunOpta, Glanbia |
| Segments Covered |
Flavor, Type, Application, Distribution Channel, Target Customer, Regional |
| Key Market Opportunities |
Increasing health consciousness Expansion into emerging markets Growing popularity of plant-based diets Rising demand for convenience snacks Technological advancements |
| Key Market Dynamics |
Rising veganism growing health consciousness product innovation increasing demand for convenience foods glutenfree options |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Oat Based Snacks Market is projected to be valued at approximately USD 11.84 billion in 2023.
The Oat Based Snacks Market is projected to grow at a CAGR of 9.28% from 2024 to 2032.
North America is expected to hold the largest market share in the Oat Based Snacks Market.
The on-the-go snacking segment is expected to witness the highest growth rate in the Oat Based Snacks Market.
Some of the key competitors in the Oat Based Snacks Market include Kellogg Company, General Mills, Inc., The Quaker Oats Company, and PepsiCo, Inc.
Some of the key trends driving the growth of the Oat Based Snacks Market include the increasing demand for healthy and convenient snacks, the rising popularity of plant-based foods, and the growing awareness of the health benefits of oats.
Some of the challenges facing the Oat Based Snacks Market include the fluctuating prices of raw materials, the intense competition from traditional snack manufacturers, and the need for innovation to meet the evolving consumer demand.
The Oat Based Snacks Market is projected to reach a valuation of approximately USD 26.3 billion by 2032.
The major factors contributing to the growth of the Oat Based Snacks Market include the increasing health consciousness among consumers, the rising popularity of plant-based foods, and the growing demand for convenient and nutritious snacks.
Some of the potential opportunities in the Oat Based Snacks Market include the development of new and innovative products, the expansion into emerging markets, and collaboration with foodservice providers.
