Oat-Based Snacks Market - Forecasts from 2023 to 2028

The oat-based snacks market is expected to grow at a CAGR of 5.29% from a market size of US$19.176 billion in 2021 to reach US$27.508 billion in 2028.

Oats are a rich source of vitamins, antioxidants, minerals, and fibers that make food products made from them healthy. Over the projected period, as consumers have become more health aware, there is a huge upsurge in demand for oat-based snacks because of their high nutritional value. Oats lower the risk of diabetes and cardiovascular disease while promoting healthy weight reduction and metabolism. The industry is projected to be fueled by evolving eating patterns and the availability of novel goods.

A need for wholesome snacks has also arisen due to a trend toward plant-based foods and a vegan diet. Organic, multigrain, and wholegrain snacks are popular customer needs. As a result of their affordable manufacturing costs and ability to satisfy consumer demand, oat-based snacks have seen global growth.

There has been a growing need for oats in daily meals due to the high incidence of diabetes, cardiovascular disease, obesity, and chronic conditions. Beta-glucan found in oats is considered a necessary soluble fiber. This increases the healthy bacteria necessary to enhance the body's digestive system while lowering harmful cholesterol and blood sugar levels. The Centres for Disease Control and Prevention and Control (CDC) estimate that 95 million Americans over 30 have more than 200 mg/dL of total cholesterol levels. The demand for healthy meals and snacks is anticipated to increase as worries over such high cholesterol levels grow.

Growing consumer consciousness for claims in the product label

The market is now flooded with goods that emphasize various label claims, reasserting their ownership of the niche, owing to the significant change in snacking from the past few years. Manufacturers are delving deeply into these trends to the fullest extent possible since clean label certification is crucial to delivering products. Additionally, non-profit groups like Clean Label Projects use strict procedures to guarantee that consumer items are free from harmful substances having detrimental health effects.

Oat-based cookies are gaining huge demand.

Cookies have become hugely popular worldwide due to their nutritional benefits and ability to satisfy hunger for extended periods. In addition, regardless of the ingredients used in baking, cookies have been cited as some of the healthy snacks. The oat-based cookies' label claims have expanded to include things like being FSSAI-approved, wheat-free, low in sugar, without additional additives, and without any trans-fat, as trans-fat is known to lower HDL levels while raising LDL levels, according to scientific research. According to the CDC, more than 94 million persons in the United States have cholesterol levels above 200 mg/dl. These cookies make up a significant portion of the packaged oat snacks offered on the market.

North America is projected to be the prominent oat-based snacks market and is anticipated to maintain momentum throughout the forecast period.

In the North American area, there is a sizable population of customers concerned about their health, therefore driving up demand for healthy meals. By sometimes improving their goods, snack makers in the area can effectively address the growing customer demand for dietary snacks that are healthful. Manufacturers are introducing healthier snacks to stand out in the market due to the intense rivalry among the big businesses in North America. The main tactic to meet the various needs and expand the customer base is reprioritizing the items. For instance, Quaker, a brand created by PepsiCo, Inc., focuses on oat-based snacks such as breakfast foods, snack bars, toasties, small sandwiches, and more.

However, Asia-Pacific is anticipated to witness profitable growth prospects throughout the projected period. In nations like India, urbanization has increased, which has led to an increase in the prevalence of various illnesses. According to a survey from the International Diabetes Foundation, diabetes affects about one in every six persons in India. The market might expand due to improvements in food processing, increased per capita consumption, and a population of educated millennials.

Market Developments:

• In February 2022, by acquiring Sonic Milling Systems, Above Food was able to develop new oat capabilities. While the latter business uses cutting-edge extraction technologies, the former is a vertically integrated plant-based food enterprise.
• In January 2022, Snack bars with the Dave Killer Bread name were released by Flower Foods Inc. The bars would come in three flavors: Oat-Rageous Honey Almond, Trail Mix Crumble, and Cocoa Brownie Blitz. According to the business spokeswoman, bars would be sold at Giant Food Stores in Maryland and Washington and H-E-B Markets in Houston.

Market Segmentation:

By Product Type

• Snack Bars
• Puffs
• Cookies
• Crackers and Toasties

By Distribution Channel

• Hypermarkets and Supermarkets
• Convenience stores
• Specialist stores
• Online stores
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others