Report : North America Oats Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Process (Rolled and Steel-Cut), Category (Organic and Conventional), Nature (Gluten-Free and Conventional), Form (Flakes, Flour, and Others), and Application (Food and Beverages, Animal feed, Personal Care, and Others)
Wide Scope of Application Drives North America Oats Market
According to our latest study on "North America Oats Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Process, Category, Nature, Form, and Application," the market is expected to grow from US$ 1,448.56 million in 2022 to US$ 1,780.22 million by 2028; it is estimated to register a CAGR of 3.5% from 2022 to 2028. The report highlights key factors driving the North America oats market growth and prominent players along with their developments in the market.
Oats contain protein, minerals, vitamins, dietary fiber, and carbohydrates. They are also high in antioxidants, which assist in protecting the body from chronic diseases such as diabetes, cardiovascular diseases, and cancer. The increasing awareness of the numerous benefits of consuming oats is prompting manufacturers to incorporate oats into various applications, including food & beverages, animal feed, and cosmetics. Moreover, oats have become a North Americans’ beauty staple. In 2020, oat-derived ingredients featured more than 20% of global beauty and personal care launches, as stated by Mintel GNPD, 2021. According to Google Trends 2021, at the beginning of 2021, searches for “oat beauty” were at their highest in over a decade. Apparently, not only does the oat’s reputation as a highly effective cosmetic ingredient show no signs of abating, but it also appears to be strengthening with time. These factors will eventually favor the North America oats market growth in the coming years.
Avena Foods, Ltd.; Glanbia plc; Grain Millers, Inc.; Lantmännen; Richardson International Limited; American International Foods, Inc.; Small Valley Milling; Emerson Milling Ltd.; Buffalo Creek Mills; and Highland Milling, LLC. are among the major players operating in the North America oats market. North America oats market players are highly focused on developing innovative product offerings to fulfill the customers’ requirements.
Impact of COVID-19 Pandemic on North America Oats Market Growth
North America was one of the worst affected economies due to the COVID-19 pandemic. In 2020, the pandemic severely impacted raw material supply chain and food manufacturing industries, reducing the demand for oats in the region. Moreover, consumers changed their food consumption habits and started to prefer essential healthy and nutritional food products with less preparation time and effort. In 2021, the marketplace started recovering from losses due to the relaxation of government restrictions and the rise in vaccination rates. However, with the opening of several growth markets in the region, vaccination development, and initiatives taken by various governments to support economic and industrial growth, the demand for oats is anticipated to grow steadily in the coming years. Hence simultaneously, fueling the North America oats market growth.
In the current market scenario, businesses gained ground due to a slowdown in the COVID-19 spread, vaccination completion in various countries in North America, and government restrictions removal. The agricultural raw material supply chain sector restarted operating at full capacity, which increased the demand for oat products in the market. Also, the operation of oats manufacturers resumed at full capacity, which helped them overcome the demand and supply gap. Hence, the demand for oats in various industry such as animal nutrition, cosmetics, mainly food and beverages has been increasing. This factor favoring the North America oats market growth.
The "North America Oats Market Forecast to 2028" is a specialized and in-depth study of the food & beverages industry, focusing on the North America oats market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The market is segmented based on process, category, nature, form, and application. Based on process, the market is segmented into rolled and steel-cut. In terms of category, the market is bifurcated into organic and conventional. Based on nature, the market is segmented into gluten-free and conventional. Based on form, the market is divided into flakes, flour, and others. Based on application, the market is segmented into food and beverages, animal feed, personal care, and others.
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