The global oat fiber market size is expected to reach USD 3.54 billion by 2028, registering a CAGR of 5.5% from 2021 to 2028, according to a new report by Million Insights. The key growth factor driving the market includes the growing inclination of consumers towards dietary fiber-based food products. In addition, the growing product usage in the animal feed sector for healthy nutrition and diets further provides ample growth opportunities to the market. Moreover, the rising consumption of oat grain coupled with trade of oat across the globe is projected to enhance the market growth during the forecast period.
During the COVID-19 pandemic, several healthcare experts recommended maintaining a healthy diet for improved immunity, which further increased the demand for dietary fibers across the globe. Therefore, the pandemic had a positive impact on the global market. However, market players experienced a slight short fall in sales due to restricted production and disturbed supply chains. Despite this short slack in market revenue, it is expected that the sector will witness healthy growth in the coming years.
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The food segment accounted for the largest revenue share of more than 54.5% in 2020. The oat fibers are mainly used in bakery products, such as bread and cookies, which, in turn, is supporting the segment growth. In 2018, the U.S. FDA approved the use of oat fiber as dietary fiber in baked goods. Thus, significant demand for oat fiber-based bakery products further propels the market growth over the forecast period. However, the others segment is estimated to register the fastest CAGR of 5.8% from 2021 to 2028.
The organic product type segment is projected to grow at the fastest CAGR from 2021 to 2028. Organic oat fibers help improve digestion and reduce cholesterol levels. Therefore, the growing inclination of consumers towards organic oat fibers is projected to propel the segment growth. Moreover, the introduction of different organic oat fiber-based food products is further projected to drive the segment over the forecast period.
Asia Pacific is expected to register the fastest CAGR of 6.2% from 2021 to 2028. China, Japan, and India are positively contributing to the growth of the regional market. With the largest growing population and increasing consumption of healthy and dietary fiber-based products, the region is witnessing huge demand for oat fiber. Asia Pacific has become the focus of future growth for various oat fiber companies due to the rising food processing sector coupled with the availability of low-cost labor and inexpensive raw materials. The projected growth is primarily driven by the increasing product demand in India, China, and Australia.
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Oat Fiber Market Report Highlights
• Among applications, the others segment is estimated to register the fastest CAGR from 2021 to 2028
• This segment includes animal feed and cosmetics. The growing product usage in animal feed as a source of insoluble fiber is one of the major factors driving the segment growth
• Moreover, the growing adoption of companion animals in developed countries further boosts the animal feed industry, which contributes to the product demand
• The rising product demand in the cosmetics industry is projected to drive market growth during the forecast period
• Led by China, Japan, and India, Asia Pacific is estimated to be the fastest-growing regional market from 2021 to 2028
• APAC has become the focus of future growth for various oat fiber companies due to the rising food processing sector coupled with the availability of low-cost labor and inexpensive raw materials
• The projected growth is primarily driven by the increasing product demand in India, China, and Australia
Oat Fiber Market Segmentation
Million Insights has segmented the global oat fiber market on the basis of type, application, and region:
Oat Fiber Type Outlook (Revenue, USD Million, 2017 – 2028)
Oat Fiber Application Outlook (Revenue, USD Million, 2017 – 2028)
Oat Fiber Regional Outlook (Revenue, USD Million, 2017 – 2028)
Central & South America
Middle East & Africa
List of Key Players of Oat Fiber Market
Dalby Molle A/S
Grain Millers, Inc.
Garuda International, Inc.
Swedish Oat Fiber AB
Bob’s Red Mill Natural Foods, Inc.
SunOpta Ingredients, Inc.
Quaker Oats Company
Read the Related Market Snapshots Available With Million Insights:
• Other Oils And Fats Market: The global other oils and fats market size was valued at USD 31.96 billion in 2020 and is expected to expand at a CAGR of 4.8% from 2021 to 2028.
• Fish And Seafood Market: The global fish and seafood market size was valued at USD 446.6 billion in 2020 and is expected to expand at a CAGR of 3.3% from 2021 to 2028.
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