According to IMARC Group’s latest research report, titled “Rice Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the rice milk market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global rice milk market size reached US$ 651.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,101.56 Million by 2028, exhibiting a growth rate (CAGR) of 9.06% during 2023-2028.
Rice Milk Market Overview:
Rice milk, a non-dairy alternative, is made from milled rice and water. It’s naturally lactose-free and suitable for those with dairy allergies or lactose intolerance. It has a mild taste and a thin consistency, making it suitable for cereal, coffee, and cooking. It’s fortified with nutrients like calcium and vitamin D. Its hypoallergenic nature makes it an option for diverse diets. It’s versatility makes it useful in various culinary applications. It works well in coffee, smoothies, and cereal, offering a subtle, slightly sweet flavor.
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Rice Milk Market Trends:
The global market is majorly driven by the increasing demand for dairy-free alternatives due to lactose intolerance and dietary preferences. In line with this, the rising adoption of plant-based diets and veganism is significantly contributing to the market. Furthermore, consumers seeking lower cholesterol and saturated fat options are turning to rice milk as a heart-healthy choice. Apart from this, the rice milk’s hypoallergenic nature appeals to those with allergies to soy, nuts, or dairy, catalyzing its demand. Moreover, the manufacturers are fortifying rice milk with vitamins, minerals, and protein to enhance its nutritional value, propelling the market.
Besides, its mild flavor makes rice milk suitable for sweet and savory dishes, expanding its usage in cooking and baking. Additionally, the consumers’ escalating awareness of environmental issues and sustainability is driving the demand for plant-based alternatives with a lower carbon footprint. This, in turn, is stimulating the product sales worldwide. The introduction of flavored rice milk varieties, like vanilla or chocolate, is attracting a broader consumer base. Effective marketing, store shelf placement, and online availability contribute to the product’s increasing market visibility and accessibility.
Key Market Segmentation:
Competitive Landscape with Key Players:
- Axiom foods Inc.
- Ebro Foods S.A.
- Essona Organics Inc.
- OKF Corporation
- PureHarvest
- RISO SCOTTI S.p.A.
- Rita Food and Drink Co. Ltd.
- Stremicks Heritage Foods LLC (Dairy Farmers of America Inc.)
- The Bridge s.r.l.
- The Hain Celestial Group Inc.
- Vitasoy Australia Pty Ltd.
Breakup by Form:
- Powder Rice Milk
- Fluid Rice Milk
Breakup by Source:
- Organic
- Conventional
Breakup by End Use:
- Food and Beverages
- Nutraceutical and Baby Food
- Personal Care
- Pharmaceuticals
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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