According to a recent report by Future Market Insights,
total sales of rice milk
market are estimated to reach a valuation of US$ 614.3 Mn in
2022, surging at a 6.2% CAGR over the assessment
period.
Rice milk has a flavor, taste, and texture that is very
similar to cow’s milk, emerging as one of the most preferred plant-based milk
substitutes. Increasing demand for dairy alternatives among lactose-intolerant
and nut-intolerant consumer’s individuals will drive the market in the
forthcoming years.
In addition to this, increasing adoption of functional diets
such as keto, vegan and gluten-free will continue boosting sales of rice milk
over the forecast period.
Rice milk is an excellent substitute for those who are
allergic to dairy, are vegan, or lactose intolerant. It is also a fat-free
option for health-conscious consumers. Rice milk powder is also being
incorporated in baked goods, snacks, confectioneries, and beverages. Backed by
the aforementioned factors, sales of rice milk will remain high over the
assessment period.
“Rising awareness regarding the functional benefits of
rice milk, along with increasing incorporation of rice milk powder in infant
food and nutraceuticals will continue augmenting the growth in the market,”
says an FMI analyst.
Key Takeaways:
- Demand
in the U.S. rice milk market is poised to surge at a 4.2% CAGR over the forecast
period.
- Malaysia will
emerge as a lucrative pocket in the South Asia rice milk market,
with sales growing at a 9,8% CAGR through 2032.
- Based
on form, demand for rice milk powder will continue gaining momentum.
- In
terms of end use, the food & beverage segment will account for a
dominant share in the global market.
- By
distribution channel, sales of rice milk through online channels will
remain high.
Competition Landscape
Key players operating in the global rice milk market are
investing in partnerships and collaborations to improve their global presence.
They are also launching clean-label and non-GMO products to gain a competitive
edge in the market. For instance:
Ø Vinamilk, a popular dairy company based
in Vietnam, launched a plant-based drink with rice as the main ingredient
in August 2019.
Key Companies Profiled
- Stremicks
Heritage FoodsTM, LLC
- Essona
Organics, Inc
- Nutra
Organics
- Danone
- The
Hain Celestial Group, Inc
- Campbell
Soup Company
- Nature’s
Choice
- PANOS
brands
- VitaRice
Australia Products Pty Ltd
- Pureharvest
Pty ltd
- freedom
foods group Ltd
- OKF
Corporation
- The
Italian Way
- RITA
FOOD and DRINK CO.,LTD
- Fine
Japan Co. Ltd.
- Nutriops
S.L
- BSCM
Foods Co., Ltd.
- RISO
SCOTTI S.p.A.
- Dinavedic
- Axiom
foods inc
Get More Valuable Insights
Future Market Insights, in its new offering, provides an
unbiased analysis of rice milk presenting historical demand data (2017-2021)
and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the rice milk is
based on form (powder and liquid), source (organic and conventional), end use
(food & beverages, nutraceuticals and baby food, personal care, and
pharmaceuticals), and distribution channel (supermarket/hypermarket,
convenience stores, food specialty stores, online retailers, and Others) across
seven major regions of the world (North America, Latin
America, Europe, East Asia, South Asia, Oceania, and MEA).
Access Full Report: https://www.futuremarketinsights.com/reports/rice-milk-market