Miller Magazine Issue 110 / February 2019

92 MARKET ANALYSIS MILLER / FEBRUARY 2019 up with innovative types of oats and oat-based products accompanied by captivating advertisements, thus evoking a sense of authenticity to buy their products. Leading bran- ds are continuously gaining traction by launching premium range of oat products, creating a long-term growth oppor- tunity all over the globe. Moreover, the growing fast-pa- ced lifestyle of people has led to the increasing demand for portable and conveniently packed food products, thus elevating the demand for ready-to-eat oat products. These factors have led to an increasing penetration of established players by ensuring a highly competitive market scenario for oats and oat products, and fortifying the overall growth of the oats market over the forecast period. By end use, the breakfast cereals segment is estimated to account for a market value share of 51.2% in 2018 for the oats market. The breakfast cereals segment is expe- cted to register a growth rate of 5.2% over the forecast period 2018 to 2028 for the oats market. On the basis of distribution, the hypermarkets/supermarkets segment has been estimated to hold the maximum value share of 67.7% in 2018, with a growth rate of 5.6%. The online retail segment is expected to register a significant growth of 6.4% over the forecast period for the oats market. On the basis of region, Eastern Europe is expected to register a revenue share of 27.1% in 2018. North America is ex- pected to follow Eastern Europe, with a revenue share of 20.6% in 2018 for the global oats market. Macro-economic Factors for the oats market growing demand for food, globally with the increasing rate of world population and healthier economic conditions, there will be more mouths to feed and more plates to fill. The changing trend of food and beverage consumption is likely to impact the transition of oats and oat-based products for the middle class, which, in turn, is expected to increase the demand for oats in the preparation of cereal products. Also, per capita expenditure on food and beverages by the global population has witnessed a sig- nificant increase over the years. The key reason behind this is increasing health consciousness among consumers, as oats are among the most preferred alternatives, not only for breakfast but also for snacks, due to the better appetite fullness promotion behavior of oats. This incre- asing per capita expenditure is also expected to support the growth of the oats market. Increasing urbanization across the globe owing to employment prospects, the migration of working popu- lation to tier-1 cities is expected to witness a significant increase over the forecast period, causing a major rise in the urbanization trend across the globe. Moreover, the contribution of growing economies is also expected to bolster the demand for oats over the forecast pe- riod. This increasing urba- nization supported by the rising economy is expec- ted to contribute signifi- cantly towards driving the oats market. KEY PRODUCERS OF OATS Some of the major com- panies operating in the oats market space are Nestlé S.A., Quaker Oats Company, The Kellogg Company, General Mills, Inc., Pioneer Foods Ltd., The Hain Celestial Group, Inc., Marico Limited, B&G Foods, Inc., Post Holdin- gs, Inc., Grain Millers, Inc., Bob’s Red Mill Na- tural Foods, Inc., Richard- son International Limited, Bagrry’s India Ltd, Natu- re’s Path Foods, NOW Health Group, Inc., Helsinki Mills Ltd., Morning Foods Limited, Avena Foods Limited, Blue Lake Milling Pty Ltd. (CHB Group), and Unigrain Pty Ltd, among other oat manufacturers. About FMI FMI’s research and consulting services help busines- ses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Their customized and syndicated market research reports deli- ver actionable insights that drive sustainable growth. FMI continuously tracks emerging trends and events in a bro- ad range of end industries to ensure their clients prepare for the evolving needs of their consumers.