The global oat-based snacks market size is expected to reach USD 23.45 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 4.3% during the forecast period. Changing dietary preferences and awareness regarding healthy eating habits are the key factors driving the growth. High nutritional properties of oats including high content of carbs, minerals, vitamins, and antioxidants make them an effective snacking option, which in turn is projected to fuel the demand.
Oats help reduce cholesterol and blood sugar levels and promote healthy weight loss and growth of good bacteria owing to the high antioxidant content. These health benefits encourage snack manufacturers to add healthy oat-based snacks in their product portfolio. In June 2017, Nestlé and General Mills entered into a joint venture in Germany. The company had a wide range of breakfast oat-based snacks with three variants, namely, crispy chocolate, almond, and pumpkin seeds focusing the young adult consumers looking for on-the-go and nutritious snacks. This product launch improved the product visibility.
Authoritative Research with Graphs and Tables: https://www.grandviewresearch.com/industry-analysis/oat-based-snacks-market
Asia Pacific is projected to witness the fastest CAGR of 4.6% from 2019 to 2025. Over the past few years, major foreign investors have adopted business strategies such as new product launches and mergers and acquisitions to cater to the increasing demand for the healthy oat snacks. For instance, in May 2018, Britannia Industries launched NutriChoice Oats Chocolate & Almond cookies in India to cater to the increasing demand for healthy snacks in the region.
Europe is the largest market for the oat snacks and it accounted for 33.5% of the global oat-based snacks market share in 2018. Major manufacturers including Nestlé, General Mills, and Kellogg are adopting various marketing strategies such as new product launches, product innovation, retail chain expansion, and mergers and acquisitions to gain a competitive edge in the market. For instance, in November 2018, Nestlé launched a new Oat Cheerios in U.K. The company offers the product under its breakfast cereal range. This new launch has increased the visibility of oat-based snacks.
Asia Pacific is expected to expand at the fastest CAGR of 4.6% from 2019 to 2025. Manufacturers are introducing innovative products to expand their product portfolio with oat-based products. For instance, in May 2018, Britannia Industries launched NutriChoice Oats Chocolate & Almond to cater to the rising demand for healthy snacks.
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