Rice Milk Market Research Report - Forecast till 2030

Rice Milk Market Research Report Information by Form (Powder and Liquid), Category (Organic and Conventional), Distribution Channel (Store-Based and Non-Store-Based) Region (North America, Europe, Asia-Pacific and RoW) - Forecast till 2030

ID: MRFR/F-B & N/5437-HCR | October 2022 | Region: Global | 90 Pages         

Rice Milk Market

Rice Milk Market is grow 5,685.44 Million at a 13.31% CAGR During Forecast 2020-2030.

Segmentation

By Form Powder Liquid
By Category Organic Conventional
By Distribution Channel Store Based Non Store Based
By Region North America Europe Asia Pacific Ro W

Key Players

  • Vitasoy Australia Products Pty Ltd (Australia)
  • Campbell Soup Company (US)
  • The Hain Celestial Group (US)
  • Pureharvest (Australia)
  • Nature's Choice Pty Ltd (South Africa)
  • Panos Brands LLC (US)
  • WhiteWave Foods (US)
  • SunOpta Inc. (Canda)
  • The Bridge S.R.L (Italy)
  • Fine Japan Co. Ltd. (Japan)

Drivers

  • Increasing Awareness about Benefits
  • Increasing Application Areas
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Rice Milk Market Overview


The global Rice Milk Market is expected to grow 5,685.44 Million at a 13.31% CAGR During Forecast 2020-2030. Rice milk is a fantastic alternative for people who are lactose intolerant and cannot consume dairy products. It is a healthier alternative to regular milk because it is low in cholesterol and lactose which has changed the Market Outlook. Rice milk is created largely by pressing rice between two filter belts that are passed through multiple rolls. Rice milk has a high carbohydrate content, which gives the milk a pleasant taste. Rice Milk Market Growth is in popularity in recent years due to its low fat and lactose content. Because of the growing popularity of nondairy milk products and the growing popularity of vegan diets, producers are substituting rice milk for substances high in lactose content during the Market Analysis.


Rice milk is made from rice grains that are created through an enzymatic process. It is fundamentally made with additional sustaining components to compensate for the lack of nutrients in it. The rising popularity of non-dairy milk products, combined with an increase in vegan diet consumption, is causing producers to replace lactose content with rice milk, fueling the Market Growth.


COVID Analysis


Markets during the COVID-19 stretch benefit the plant-based food business. The coronavirus is thought to have originated from an animal. The meat business, in particular, is experiencing a considerable decline in demand and sales growth. Because of the spread of COVID-19, people are looking for a safer substitute product in every market, including the food and beverage segment. Cow-based milk is being replaced by plant-based milk, which has similar nutritional and flavor properties. People are increasingly keeping these products in bulk in their homes because they have a longer shelf life, thus increasing the Rice Milk Market Value and Rice Milk Market Trends. The COVID-19 epidemic has flipped the economic growth switch in every sector. Countries all across the world have been forced to institute a lockdown as a result of the pandemic. The global COVID-19 outbreak has increased demand for vegan supplements and increased the market share. People are becoming more aware of the health benefits of it, which are becoming more popular. In addition, as a result of the COVID-19 issue, many rice milk producers increased their output to fulfill client demand. COVID-19 has thus had a positive impact on the rice milk market share and market size, as corporate production and sales are expected to increase as a result of the global COVID-19 pandemic.


Market Dynamics


Drivers


The increased number of lactose-intolerant and soy-allergic consumers is driving up demand for rice milk. Rice milk's health benefits, such as its ability to prevent chronic disease and lower cholesterol levels in the body, have piqued the interest of health-conscious consumers. Because of the growing popularity of non-dairy milk products and the growing popularity of vegan diets, producers are substituting rice milk for ingredients high in lactose content, which is propelling the Rice Milk Market Value. Globally, there is an increase in the number of lactose intolerance patients and those with dairy allergies, which is assisting the Rice Milk Market Outlook. The rise in demand for alternative dairy food products, as well as increased knowledge of the benefits of rice milk intake, are expected to boost the global Rice Milk Market Trends. The worldwide market is predicted to be driven by an increase in dairy alternative food demand and increased awareness of the advantages of rice milk intake. Recent food market trends such as lactose-free dairy products and vegan dietary habits are expected to drive the global rice milk market over the Market Forecast period.


Restraints


The worldwide rice milk market is being held back by a lack of awareness in some regions of the world, as well as the benefits connected with milk consumption even during the Rice Milk Market Analysis. There are alternatives to rice milk accessible, such as almond milk, coconut milk, and oat milk, which might put this industry under a lot of pressure. The product's low market penetration also limits the worldwide market's growth. The growing awareness of the negative side effects of rice milk has impeded the market value of rice milk. Furthermore, due to tight government regulations, the rice milk market is expected to decline. Plant-based protein supplements are more expensive to produce than animal-based protein supplements, which is a significant obstacle to acceptance.


Technology Analysis


Rice milk is an excellent substitute for those who are allergic to dairy, vegan, or lactose intolerant. Dairy-free rice milk provides a fat-free choice for health-conscious individuals. Rice milk powder milk is mostly used in the food processing industry for a variety of applications. As a result of dietary, environmental, and ethical considerations, consumers are becoming more amenable to vegetarian and vegan diets. This is expected to be a major element driving demand for rice milk alternatives shortly. The technology used to produce rice milk has greatly increased the rice milk forecast and will also aid in future rice milk market analysis.


Segment Overview


The Global Market is further bifurcated into various segments depending on various factors to help the market to grow as per the predicted CAGR growth by the end of the forecast period in 2027. The Global Rice Milk Market is segmented based on the following:


Based on the form, the global market has been segmented as follows:



  • Powder

  • Liquid


Based on the type, the global market has been segmented as follows:



  • Long Grain

  • Medium Grain

  • Short Grain


Based on the category, the global market has been segmented as follows:



  • Organic

  • Conventional


Based on the distribution channel, the global market has been segmented as follows:


- Store-Based



  • Hypermarket & Supermarket

  • Convenience Store

  • Others


- Non-Store Based


- E-Commerce


- Others


Based on the region, the global market has been segmented as follows:


North America



  • US

  • Canada


Europe



  • Germany

  • France

  • Italy

  • Spain

  • UK

  • Rest of Europe


Asia-Pacific



  • China

  • India

  • Australia

  • Singapore

  • Rest of Asia Pacific


Rest of the world



  • Brazil

  • Argentina

  • Saudi Arabia

  • South Africa

  • Others


Regional Classification


North America is likely to maintain its dominance in the market over the forecast period, owing to an increasing number of lactose-intolerant customers and a growing inclination for vegan food and beverages. Increasing knowledge of the benefits of rice milk, such as its high calcium, vitamin A, and vitamin B content, is fueling sales of rice milk products across the Asia Pacific. Europe is also likely to hold a substantial portion of the global rice milk business as vegan diets become more popular. Germany and the United Kingdom are the two most important contributors to Europe's market growth. The Asia Pacific market is expected to grow at the fastest rate throughout the forecast period, with China and India being the region's largest country-level markets for rice milk. Rice milk is used as a substitute for typical dairy milk in the manufacture of beverages such as smoothies, milkshakes, desserts, and ice cream. As a result, the rest of the world's markets are growing.


Competitive Landscape


Players in the sector have implemented a variety of appealing promotional and cross-selling methods to increase online sales and gain the greatest possible market share. North America's market is highly competitive, with a large number of domestic and worldwide companies fighting for market domination. Mergers, expansions, acquisitions, and collaborations, as well as new product development, are highlighted as strategic strategies utilized by major firms to boost customer brand awareness. The following are the major players:



  • Vitasoy Australia Products Pty Ltd (Australia)

  • Campbell Soup Company (US)

  • The Hain Celestial Group (US)

  • Pureharvest (Australia)

  • Nature's Choice Pty Ltd (South Africa)

  • Panos Brands, LLC (US)

  • WhiteWave Foods (US)

  • SunOpta, Inc. (Canda)

  • The Bridge S.R.L (Italy)

  • Fine Japan Co., Ltd. (Japan)


Recent Developments



  • Rice Dream is a firm that sells rice milk that can be refrigerated and has a long shelf life. It comes in a variety of flavors, including organic and unsweetened rice milk.

  • The Vitasoy Rice Milk Company has created rice milk that claims to have the fewest ingredients and is the most similar to the ones that people prepare at home.


Report Overview


The study identifies the present market prospects, as well as a quantitative analysis of market segmentation, current trends, estimations, and dynamics of the market for the forecast period. The article includes information on important drivers, constraints, and technological analyses. The study also highlights the significance of buyers and suppliers in aiding stakeholders in making lucrative business decisions and improving their supplier-buyer network. In-depth research of the rice milk market segmentation assists in identifying existing market potential. Market player positioning facilitates benchmarking and provides a clear picture of the market's current situation. The research looks at regional and global trends in rice milk, as well as key competitors, market segmentation, and application areas.



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Frequently Asked Questions (FAQ) :

The global Rice Milk Market CAGR Growth is expected to grow at a CAGR of 13.31% during the Rice Milk Market Forecast 2030.

The North American region is expected to dominate the rice milk market by the end of the global forecast period in 2030.

The major key players in the global rice milk market are Vitasoy Australia Products Pty Ltd (Australia), Campbell Soup Company (US), The Hain Celestial Group (US), Pureharvest (Australia), Nature's Choice Pty Ltd (South Africa), Panos brands, LLC (US), WhiteWave Foods (US), SunOpta, Inc. (Canda), The Bridge S.R.L (Italy), Fine Japan Co., Ltd. (Japan).