About Rice Milk
Rice milk is produced from grain rice. It is typically unsweetened and made from brown rice. By a natural enzymatic process that cuts the carbohydrates into sugars, particularly glucose, generates the sweetness in most rice milk varieties. Some rice milks may however be sweetened with sugarcane syrup or other sugars. Rice milk is a great substitute to conventional milk with its benefits including free-from cholesterol & lactose. Rice milk is mostly produced with added fortified elements to overcome the absence of nutrients in it. The rice milk market is targeted towards the vegan & lactose-free population. Increasing awareness regarding health benefits about rice milk consumption is impelling the global rice milk market growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 13.4% |
Major players in the rice milk market are Vitasoy International Holdings Limited, Alpro, Hain Celestial Group, Fine Japan Co., Ltd., and Pacific Foods of Oregon, LLC, among others. Key players are focusing on adopting developmental strategy like new product launch, expansions & investments for business development & growth. The focus is mainly on organic rice milk product offering. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Rice Milk market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Vitasoy International Holdings Limited (China), Alpro (Belgium), Hain Celestial Group (United States), Fine Japan Co., Ltd. (Japan), Pacific Foods of Oregon, LLC. (United States), The Campbell Soup Company (United States), Pureharvest (Australia), Nature's Choice Pty Ltd (South Africa), Ecoideas (Canada) and Freedom Nutritional Products (Australia) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are SunOpta (Canada), Panos brands, LLC (United States) and The Bridge S.R.L (Italy).
Segmentation Overview
AMA Research has segmented the market of Global Rice Milk market by Type (Organic Rice Milk and Conventional Rice Milk), Application (Snacks, Bakery & Confectionery, Beverages and Others) and Region.
On the basis of geography, the market of Rice Milk has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Distribution Channel, the sub-segment i.e. Supermarkets and Hypermarkets will boost the Rice Milk market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Powder will boost the Rice Milk market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Consumers’ Inclination toward Organic Variants of Rice Milk
Market Growth Drivers:
Increasing Cases of Lactose Intolerance, Rise in Dairy Alternative Food Demand and Rapidly Rising Beverage Industry
Challenges:
High Competition
Restraints:
Low Market Penetration of the Product and Availability of Competitive Products like Almond and Coconut Milk
Opportunities:
Increasing Awareness of the Benefits of Rice Milk Consumption, Advancements in Rice Milk Processing and Untapped Opportunities from Emerging Markets
Market Leaders and their expansionary development strategies
In August 2023, Kerry has signed a partnership to support the creation of more sustainable dairy alternative products and enhance market growth for the plant-based category. The collaboration between Kerry and Unigrain, an Australian producer of plant-based food and beverage ingredients, is designed to provide food and beverage brands and manufacturers access to a unique combination of ingredients
In November 2023, Nestlé today announced that it has developed N3 milk. Made from cow's milk, it has all the essential nutrients found in milk such as proteins, vitamins, and minerals. In addition, it contains prebiotic fibers, has a low lactose content and has over 15% fewer calories.
Key Target Audience
Rice Milk Producers, Food & Beverage Manufacturers, Raw Material Suppliers, Rice Milk Traders, Exporters, and Importers, Government and Research Organizations, Industry Associations, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.