The rice milk market is projected to witness a compound annual growth rate (CAGR) of 17.17% during the forecast period to reach a total market size of US$2,619.954 million by 2024, increasing from US$1,012.838 million in 2018. Rice milk is grain milk made by processing rice and is recommended for people who are lactose intolerant and vegan. Rice milk market is particularly targeted towards the lactose-free population. It is one of the best alternatives of dairy milk and contains most carbohydrates compared to almond and soy milk which is considered as one of the key drivers for the growth of the market during the forecast period. In addition, increasing dairy alternative food demand and raising awareness of the benefits of rice milk are expected to drive the global rice milk market. However, the availability of competitive products like almond and coconut milk and low market penetration of the product may result in restraint for the rice milk market in the coming years. The North American region holds a significant market share owing to the presence of a high percentage of lactose intolerant population in the region coupled with the emerging trend of the preferences for vegan food.
Drivers
Growing vegan and lactose-free population
Expanding non-dairy milk industry
Restraints
High cost involved
Lack of product awareness
Availability of substitutes
The major players profiled in the Rice milk market are Danone (Alpro), Vitasoy Australia Products Pty Ltd, Fine Japan Co. Ltd, The Bridge bio, Pacific Foods and SunOpta, Campbell, The Hain Celestial Group, Inc, and Pureharvest Pty Ltd among others.
Segmentation
The Rice milk market has been analyzed through the following segments:
By Source
Organic
Conventional
By Form
Powder rice milk
Fluid rice milk
By Application
Beverages
Bakery & Confectionery
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Other
Asia Pacific
China
Japan
South Korea
India
Others
Drivers
Growing vegan and lactose-free population
Expanding non-dairy milk industry
Restraints
High cost involved
Lack of product awareness
Availability of substitutes
The major players profiled in the Rice milk market are Danone (Alpro), Vitasoy Australia Products Pty Ltd, Fine Japan Co. Ltd, The Bridge bio, Pacific Foods and SunOpta, Campbell, The Hain Celestial Group, Inc, and Pureharvest Pty Ltd among others.
Segmentation
The Rice milk market has been analyzed through the following segments:
By Source
Organic
Conventional
By Form
Powder rice milk
Fluid rice milk
By Application
Beverages
Bakery & Confectionery
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Other
Asia Pacific
China
Japan
South Korea
India
Others
Table of Contents
1. Introduction
2. Research Methodology
4. Market Dynamics
5. Rice Milk Market By Source
6. Rice Milk Market By Form
7. Rice Milk Market By Application
8. Rice Milk Market By Geography
9. Competitive Intelligence
10. Company Profiles
Companies Mentioned
- Danone (Alpro)
- Vitasoy Australia Products Pty Ltd
- Fine Japan Co. Ltd
- The Bridge bio
- Pacific Foods
- SunOpta Inc
- Campbell
- The Hain Celestial Group, Inc
- Pureharvest Pty ltd
Methodology
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