The concept of functional foods focuses on using the nutritional knowledge about food to improve the health of consumers. Increase in the demand for functional foods can be attributed to their high phytochemical content. Cereals are a significant part of the daily diet and an important source of soluble as well as insoluble dietary fibers. Dietary fibers are known for their health benefits, which include lowering the risk of blood cholesterol, intestinal regulation, etc. The habitual consumption of cereals is known to reduce the risk of heart disease, type 2 diabetes, and mortality due to cancer. Oats are considered an important cereal these days, especially in developed & developing countries. Oat bran is the outer covering of oats and is known to have a high concentration of soluble fibers that reduce bad cholesterol. Nowadays, oat bran is gaining popularity, which is attracting consumers and manufacturers to the oat bran market. The global oat bran market is expected to increase due to its growing popularity.
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Global Oat Bran Market: Key Players
Some of the key players operating in the global oat bran market are Kellogg's, Mornflake Mighty Oats, NOW Foods, Flahavans and Sons Ltd., Ceres Organics, Bulk Barn Foods, Richardson Milling, PepsiCo Canada ULC, Hodgson Mill, Richardson International Limited, and Ceres Organics. An increasing number of companies are interested in investing in the oat bran market.
Global Oat Bran Market: A Regional Outlook
North America currently dominates the global oat bran market. Canada is a leading exporter and the U.S. is a top importer of oat bran. The demand for oat bran is expected to increase in developing countries like India, Spain, Nigeria, Russia, and Chile with an increase in health concerns, per-capita income, and urban influence. Thus, the oat bran market in the North America, Europe, and APAC regions is expected to witness growth during the forecast period.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Growing Demand for Oat Bran Due to its Versatile Properties & Multiple Applications
The global market demand for functional foods, such as oat bran, is increasing in developed as well as developing countries. Oat bran has a high concentration of dietary fibers, proteins, minerals, and other nutrients that help fight against life-threatening health conditions. People who consume oat bran on a regular basis are at a lower risk of developing stomach cancer and diabetes. Oat bran is used as a food additive in breads, muffins, cupcakes, etc. to enhance their nutritional value. It is also used in various dairy products such as oat milk, yogurt, etc. Increase in awareness among consumers about the nutritional benefits of oat bran and an inclination toward a balanced diet to boost immunity are among major drivers of the global oat bran market. Moreover, with changes in the lifestyle and unhealthy eating habits, there is an increase in the number of people suffering from gluten intolerance. Oat bran is a good alternative for gluten in various foods and bakery products. Oat bran is also as an alternative to wheat flour in some recipes. Increase in the disposable income and demand for fortified food products is boosting the uptake of functional foods such as oat bran, which is propelling the oat bran market. Oat bran is also used to fortify animal feed to increase its fiber and nutritional value. The above-mentioned factors are expected to contribute to the growth of the global oat bran market.
Opportunities for Market Participants
Oat bran is widely exploited by the food & beverages and pharmaceutical sectors, which is boosting the oat bran market in terms of volume and value. Oat bran is used as an additive in horse and dog feed for its nutraceutical benefits, which has created good opportunities. Increase in gluten intolerance among consumers has created lucrative opportunities for oat bran as a food additive. Oat bran has more fiber and protein content than oatmeal, due to which it is preferred by consumers. Creative advertisements and awareness among people in untapped regions, along with government policies, are likely to create growth opportunities for the oat bran market. Rising awareness and a large number of benefits are among factors expected to boost the global oat bran market during the forecast period.
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