The primary component of oat-based snacks is oats, a whole grain known for its nutritious content. These snacks are designed to be a quick and wholesome option for people who are always on the go. They can be anything from granola bars to cookies, crackers, or even savory crisps. Oat fiber, particularly beta-glucan, is thought to improve digestion, support heart health, and stabilize blood sugar levels. Additionally, oats are a great source of vitamins, minerals, and antioxidants.
Global Oat-based Snacks Market Driving Factors and Challenges
Driving Factors- The market's growth is attributed to consumers' increasing demand for healthy snacks as they learn more about the benefits of oats for their health. Oats are a fantastic snack meal that helps people regulate their weight, lower blood sugar, and reduce their risk of heart disease because of their high fiber, protein, and antioxidant content. The shift toward plant-based products and a vegan diet has led to a rise in demand for healthy snacks. Among the most common consumer requests are wholegrain, multigrain, and organic snacks. Because they were affordable to make and satisfied customer tastes, oat-based snacks consequently revolutionized the market.
Challenges- A significant barrier that may result in adjustments to production costs is the price volatility of oats, which is impacted by weather trends and interruptions in the worldwide supply chain. Furthermore, although being naturally gluten-free, oats may not be as tempting to those who have celiac disease or gluten sensitivity because of cross-contamination that occurs during processing in facilities that also handle wheat. The business is also seriously threatened by other nutritious snack options like nuts, seeds, and protein bars, which can offer more noticeable perceived benefits in terms of convenience or protein.
Impact of COVID-19 on Global Oat-based Snacks Market
The COVID-19 pandemic altered supply and demand dynamics, which had a major effect on the global market for oat-based snacks. On the one hand, the pandemic's increased focus on immunity and health raised demand for wholesome, plant-based, and functional meals, which in turn made oat-based snacks more appealing as customers searched for healthier alternatives to traditional processed snacks. However, labor shortages, supply chain disruptions, and logistical challenges during lockdowns affected manufacturing and delivery, sometimes leading to delays and shortages.
Global Oat-based Snacks Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as: Abbott, Bobo's Oat Bars, Britannia Industries, General Mills Inc., Mondelēz International, Nairn's Oatcakes Limited, Pamela's Products, Seamild Food Group, The Quaker Oats Company, and WK Kellogg Co.
Global Oat-based Snacks Market Segmentation:
By Product: Based on the Product, Global Oat-based Snacks Market is segmented as; Oat-based Bakery and Bars, Oat-based Savory.
By Distribution Channel: Based on the Distribution Channel Global Oat-based Snacks Market is as: Offline, Online.
By Region: This research also include data for North America, Europe, Asia-Pacific Middle East & Africa and South America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.