The global oat-based snacks market is expected to grow at a CAGR of close to 4% during the forecast period, 2017-2021, according to a report by Technavio.
By product type, this market is divided into bakery and bars, and savory snacks segments.
With increasing shift towards healthy eating habits, there is an increasing preference for oat-bases snacks among the consumers. These products have multiple nutritional values, and vendors are constantly introducing new product categories for consumers, thereby ensuring a constant demand. Gluten-free and low-calorie oat-based snacks are especially famous and are majorly driving market growth.
Technavio’s research study segments the global oat-based snacks market into the following regions:
In the Americas, oat-based on-the-go breakfast ensures steady demand from market segment.
The Americas will display a stable growth in the forecast period, with oat-based on-the-go breakfasts such as breakfast bars, creating a steady demand in the market.
Additionally, oat-based energy bars such as granola bars are widely consumed in North American countries like the U.S. and Canada, which will account for a significant portion of the market revenue. South American countries are expected to grow at a slower rate, where the market is slowly developing, augmented by increasing disposable incomes of the consumers.