The global oat-based snacks market is anticipated to reach a CAGR of 4.74% during the forecast period.
Oats are healthy but not very easy to consume as it is. Consumers associate the taste of oats to be bland and they need to be cooked. However, there is considerable consumer awareness about the nutritious properties of oats and hence oat-based snacks can be an easy substitute for porridge owing to the high fiber and antioxidant content. They are a gluten-free whole grain and a great source of important vitamins and minerals too.
Oats are extremely nutritious and have been made consumption-friendly in the form of numerous products that promote weight loss, lower blood sugar levels and reduced risks of heart disease. Thus, the multiple health benefits offered by oats are so far expected to drive the market of oat-based snacks.
Owing to the growing demand, the snack bar product type segment is forecasted to account for the maximum revenue share in the global oat-based snack market in 2018.
Key Market Trends
Demand for Functional Claim Carrying Snacks
With an inclination toward plant-based products and a vegan diet, there has also been a demand for nutritious snacks. Some of the prominent consumer demands focus on organic and multigrain, and wholegrain snacks. Oat-based snacks thus evolved the market due to their low production costs and compliance with the demands. For example, starting as homemade oat bars for the family as a mother-daughter tradition, Simply Delicious, Inc. came up as an oat snack bar manufacturing company in 2003 with the business name Bobo's and has since then been achieving heights with their product offerings.
The Global Oat Based Snack Market is Dominated by North America
There has been a large segment of health-conscious consumers in the North American region, which is, consecutively generating the demand for healthy foods. Snack manufacturers in the region are successfully meeting the rising consumer demand for nutritious dietary snacks by innovating their products from time to time. Due to the high competition among the major players in North America, the manufacturers are launching healthier snacks to outstand in the market. Reprioritizing the products is the primary strategy to serve the diverse demands and strengthen the consumer base. For instance, PepsiCo, Inc. came up with Quaker, a brand that specializes in oat-based snacks including breakfast meals, snack bars, toasties, mini sandwiches and more.
Competitive Landscape
The oat-based snack market is highly competitive in nature, with the prominent global players and various regional players. The market leaders have a wide distribution network and are also emphasizing on enlarging the product portfolio by keeping in mind the various requirements of the segment. General Mills Inc., Kellogg, Nairn's Oatcakes, PepsiCo, Inc., and Abbott Laboratories are some of the giants associated with the global market. The market also has the presence of various regional players but most of them are privately owned.
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Oats are healthy but not very easy to consume as it is. Consumers associate the taste of oats to be bland and they need to be cooked. However, there is considerable consumer awareness about the nutritious properties of oats and hence oat-based snacks can be an easy substitute for porridge owing to the high fiber and antioxidant content. They are a gluten-free whole grain and a great source of important vitamins and minerals too.
Oats are extremely nutritious and have been made consumption-friendly in the form of numerous products that promote weight loss, lower blood sugar levels and reduced risks of heart disease. Thus, the multiple health benefits offered by oats are so far expected to drive the market of oat-based snacks.
Owing to the growing demand, the snack bar product type segment is forecasted to account for the maximum revenue share in the global oat-based snack market in 2018.
Key Market Trends
Demand for Functional Claim Carrying Snacks
With an inclination toward plant-based products and a vegan diet, there has also been a demand for nutritious snacks. Some of the prominent consumer demands focus on organic and multigrain, and wholegrain snacks. Oat-based snacks thus evolved the market due to their low production costs and compliance with the demands. For example, starting as homemade oat bars for the family as a mother-daughter tradition, Simply Delicious, Inc. came up as an oat snack bar manufacturing company in 2003 with the business name Bobo's and has since then been achieving heights with their product offerings.
The Global Oat Based Snack Market is Dominated by North America
There has been a large segment of health-conscious consumers in the North American region, which is, consecutively generating the demand for healthy foods. Snack manufacturers in the region are successfully meeting the rising consumer demand for nutritious dietary snacks by innovating their products from time to time. Due to the high competition among the major players in North America, the manufacturers are launching healthier snacks to outstand in the market. Reprioritizing the products is the primary strategy to serve the diverse demands and strengthen the consumer base. For instance, PepsiCo, Inc. came up with Quaker, a brand that specializes in oat-based snacks including breakfast meals, snack bars, toasties, mini sandwiches and more.
Competitive Landscape
The oat-based snack market is highly competitive in nature, with the prominent global players and various regional players. The market leaders have a wide distribution network and are also emphasizing on enlarging the product portfolio by keeping in mind the various requirements of the segment. General Mills Inc., Kellogg, Nairn's Oatcakes, PepsiCo, Inc., and Abbott Laboratories are some of the giants associated with the global market. The market also has the presence of various regional players but most of them are privately owned.
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Table of Contents
1 INTRODUCTION
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- General Mills Inc.
- Kellogg NA Co.
- Nairn's Oatcakes
- PepsiCo, Inc.
- Abbott Laboratories
- Simply Delicious, Inc.
- Britannia Industries Limited
- Honey Monster
- Pamela Products, Inc.
Methodology
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