According to a new report published by Allied Market Research, titled, Oatmeal Market by Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2017-2027, the global oatmeal market was valued at $10,475 million in 2017, and is projected to reach $11,907 million by 2027, growing at a CAGR of 1.3% from 2018 to 2027. The instant oats type accounted for more than 40% of the global market in 2017.
Oatmeal are cereal grains obtained from oat plant, commonly harvested for food, animal feed, and production of skin care products. Consumed as a breakfast cereal, oatmeal is enjoyed with fruits and nuts. Rich in vitamin & minerals, oatmeal comes with high in dietary fiber and low sodium content, to improve the nutritional intake of the body. Oatmeal contains starchy carbohydrates, which provide nutrition to the muscle and organs. The protein content of oatmeal is higher as compared to other cereals, which plays an important role in growth and tissue repair of the human body. Other health advantages of oatmeal include lower blood cholesterol and blood sugar, which help reduce the risk of heart diseases. Oatmeal is also used in production of variety of products, such as cakes, cookies, energy bars, and desserts.
The factors that drive the growth of the global oatmeal market include increase in preference for healthy meals and changes in food habits. In addition, increase in demand for convenience food and high nutrition content of oatmeal, which includes high fiber & protein content increases the demand for oatmeal in the market. However, availability of substitute products such as quinoa, buckwheat, brown rice, and cornflakes are expected to hamper the growth of this market in the near future. Development of different flavored oatmeal and the use of oatmeal in the cosmetics industry bring different growth opportunities for the oatmeal market.
By type, the market is bifurcated into whole oat groats, steel cut oats, scottish oats, regular rolled oats, quick rolled oats, instant oats and others. Instant oats have the highest CAGR throughout the analysis period due to the increase consumption of oats as a breakfast cereal in Asia-Pacific.
By distribution channel, the market is divided into hypermarket, supermarket, specialty retailers, convenience stores, independent retailers and others. Supermarket `has the highest CAGR throughout the analysis period due to the rapid urbanization across the globe.
Key Findings of the Oatmeal Market:
- The quick rolled oats market is expected to grow at the high CAGR of 1.8%, in terms of volume, during the forecast period.
- The supermarket and food specialty stores segments are anticipated to be the fastest developing distribution channels, in terms of value, growing at a CAGR of 1.8% & 1.6% respectively, from 2018 to 2027.
- Asia-Pacific is expected to grow at the highest CAGR of 1.8% in terms of value.
- The steel cut oats segment occupied one-eighth share in the global market in 2017 in terms of volume and is anticipated to witness CAGR of 1.3% during the forecast period.
- The hypermarket segment occupied more than one-fifth share in the global market in 2017 in terms of volume and is anticipated to witness CAGR of 1.2% during the forecast period.
In 2017, North America and Europe collectively accounted for more than 60% of the global oatmeal market in terms of value. This is due to high per capita consumption of oatmeal in different countries of these regions. Asia-Pacific is projected to grow at the highest rate in terms of volume followed by Latin America, owing to increase in urbanization coupled with rise in breakfast cereal market.
The major companies profiled in this report are Quaker Oats Company, Nature's Path Foods, Inc., Nestl S.A, Kellogg NA Co., General Mills, Inc., Hamlyn's Of Scotland, World Finer Foods, Weetabix Ltd., Cargill, Incorporated, and Bagrry's India Ltd.