According to the report titled ‘Global Oat-based Snacks Market Size study, by Product (Oat-based Bakery and Bars and Oat-based Savory), by Distribution Channel (Offline and Online) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global oat-based snacks market was valued at USD 19 billion in the year 2020 and is projected to grow at a healthy rate of 4.3%, thereby reaching a valuation of USD 25.51 billion by the end of forecast period 2021-2027.

 

Soaring number of product launches, and growing demand for health & wellness food items are propelling growth of global oat-based snacks market. In this context, Statista cited that the global health and wellness foods market is anticipated to grow from USD 768.2 billion in 2019 to USD 811.82 billion in 2021.
 

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For the unversed, fiber-rich oat-based snacks are high in vitamins, antioxidants, minerals, and other vital nutrients. Rising vegan population preferring oat-based snacks, growing adoption of healthy lifestyle, improved e-commerce penetration, and greater awareness of the nutritional advantages of oat consumption are all projected to drive the industry forward.

 

However, throughout the period of 2021-2027, the availability of affordable substitute goods may stifle the market development.

 

Based on product type, worldwide oat-based snacks market is divided into oat-based savory, and oat-based bakery & bars. While the different distribution channels deployed are online, and offline.

 

As per regional analysis, the overall marketplace is divided into North America, Latin America, Asia Pacific, and Europe. Because of the presence of renowned players, high oat production, and wider awareness of healthy food consumption, Europe held majority market share in the recent past.

 

On the other hand, Asia-Pacific market is slated to record a strong CAGR over the forecast period 2021-2027, due to rising oat consumption, entry of new firms into the arena, and the region's vast customer base.

 

The competitive landscape of global oat-based snacks market includes companies such as Hearthside Food Solutions LLC, The Kellogg Company, Uncle Tobys, Mondelez International Inc., BOBO'S, Britannia Industries Limited, Del Monte Food Inc., The Quaker Oats Company, Libre Naturals Inc., Chicago Bar Company LLC, and Seven Sundays among others.