The global Oat-based Snacks Market size is expected to register revenue of USD 23.45 billion from 2019 to 2025, according to a new report by Million Insights. Increasing awareness regarding the consumption of healthy food and rapidly changing dietary preference has majorly driven market growth. Oats have high nutritional values including vitamins, antioxidants, and minerals, thereby expected to propel the demand for this product.
Oats helps to balance the sugar level in the blood, reduce the bad cholesterol level, and promote weight loss due to its antioxidant property. Several health benefits of oats have encouraged the manufacturers to add oats-based snacks in their product line. For example, in 2017, General Mills and Nestle entered the joint venture and provides a wide range of cereal bars with three different ingredients such as pumpkin seeds, almond and crispy chocolate to gain traction among the young population looking for nutrition rich breakfast.
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Asia Pacific is anticipated to grow with the highest CAGR of more than 4.0% during the forecast period. In recent years, major international investors implemented some marketing strategies including merger & acquisition, product launches, and innovation to cater to rising demand for healthy oats snacks. For example, in 2018, Britannia Industries inaugurated NutriChoice Oats Almond & Chocolate cookies due to increasing demand for healthy and nutritious snacks in India.
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Further key findings from the report suggest:
• Asia Pacific is estimated to grow with the fastest CAGR of more than 5.0% during the forecast period.
• Oat-based savory product is anticipated to register highest CAGR of 4.4% from 2019 to 2025.
• Europe held the largest market share of around 33.5%, in 2018 in terms of revenue.
• Major players operating in the market are Quaker Oats Company, Britannia Industries, Seamild, Bobo’s Oat, Nairn’s Oatcakes, General Mills, and Pamela’s Products.
Million Insights has segmented the global oat-based snacks market on the basis of product, distribution channel, and region:
Oat-Based Snacks Product Outlook (Revenue, USD Million, 2015 – 2025)
• Oat-based Bakery and Bars
• Oat-based Savory
Oat-Based Snacks Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
Oat-Based Snacks Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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