The IMARC Group's latest research report, titled "Rice Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," offers a comprehensive analysis of the rice milk market share. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global rice milk market size reached USD 710.5 Million in 2023. Looking forward, IMARC Group expects the market to reach USD 1,438.7 Million by 2032, exhibiting a growth rate (CAGR) of 8.15% during 2024-2032.
Rice Milk Market Trends:
The global market is primarily driven by the increasing prevalence of lactose intolerance and dairy allergies. In accordance with this, the higher consumption of rice milk due to its perception as a low-fat, cholesterol-free alternative to cow's milk is impelling the market. Furthermore, the ongoing trend of clean-label products, which emphasize natural and minimally processed ingredients, is encouraging the higher uptake of the product. Additionally, the growing interest in functional foods and beverages, as rice milk can be fortified with vitamins and minerals to enhance its nutritional profile, is supporting the market demand. The increasing availability of the product in various flavors and formulations is appealing to diverse consumer preferences and providing an impetus to the market. Besides this, the rapid expansion of retail distribution channels, including supermarkets, health food stores, and online platforms, is expanding the market reach.
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Rice Milk Market Scope & Growth Analysis:
The scope of the market is expanding as demand for plant-based milk alternatives continues to rise globally. The market scope is poised for significant growth due to increasing consumer awareness of dietary restrictions and the health benefits associated with non-dairy milk options. As per market analysis, ongoing innovations in product development, such as organic and fortified rice milk options, are broadening the market's scope by catering to health-conscious consumers seeking nutrient-rich alternatives. The rapid expansion of e-commerce and digital retail channels is also contributing to market growth, allowing consumers greater access to a variety of products. Additionally, the growing trend towards sustainability and environmental consciousness is augmenting demand for plant-based rice milk, which have a lower environmental impact compared to dairy milk. Supported by ongoing product innovation, increasing consumer awareness, and expanding distribution networks, the market is well-positioned for robust growth in the coming years.
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.
Key Market Segmentation:
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
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