The oats market size volume in South Africa has shown significant growth over the past decade, reaching 110.0 thousand metric tons in 2023. A striking variation is noted between 2015 and 2016, with a drastic increase of 112.5% followed by a 25% decline. The year-on-year variation in 2023 stood at 3.77%, with a five-year compound annual growth rate (CAGR) of 4.33% from 2019 to 2023. Over the last decade, the market has experienced continuous growth, displaying an 80.39% rise in 2017 and stabilization around a 4% annual increase from 2019 onwards.
Future trends to watch for include:
- An expected annual growth rate of 2.66% leading to a forecasted volume of 130.0 thousand metric tons by 2028.
- A continued moderate but stable increase in oats consumption and production.
- Potential impact of agricultural innovations and sustainability practices on crop yield and market expansion.
- Influence of consumer health trends on demand for oats.