Rice Milk Market is predicted to thrive at a CAGR of 17.17% over the period 2018-2024
Rice milk is grain milk made by pressing the rice through a mill using diffusion to stain out the pressed grains. Rice milk is one of the best alternatives to dairy milk and contains most carbohydrates compared to almond and soy milk.
This report provides forecast and analysis of the Rice Milk Market which is estimated to surge US$2,619.954 million by 2024, from US$1,012.838 million in 2018.
Rice milk is grain milk made by pressing the rice through a mill using diffusion to stain out the pressed grains. Rice is recommended for people who are lactose intolerant and vegan and rice milk is mild in taste commonly unsweetened. Rice milk is sweetened by a natural enzymatic process that cleaves the carbohydrates into sugar especially glucose Rice milk is free from cholesterol and lactose. Rice milk is particularly targeted towards the lactose-free population. It is one of the best alternatives for 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. Increasing dairy alternative food demand and rising awareness of the benefits of rice milk are expected to drive the global rice milk market.Almond and coconut milk availability in the market and low market penetration of the product may result in restraint for the rice milk market in the coming years. The rice milk market is segmented by source, form, application, and geography.
Geographically rice milk market is segmented as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. North America accounted for a significant market share in 2018 owing to the higher percentage of lactose intolerant population coupled with the emerging trends preferences for vegan food. Rising population of lactose intolerant consumer and even the growing preference towards vegan food & beverages is increasing the demand for the market. People are getting aware about the benefits of rice milk, as rice milk is rich in vitamin A, vitamin B, and calcium are fueling the sales of rice milk. Rice milk is also being considered as most favorved substitute to milk shakes, smoothies, desserts, and ice creams.
Some of the major players covered as part of the report 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.
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This report segmented the rice milk market on the basis following terms:
- By Source
- By Form
- Power Rice Milk
- Fluid Rice Milk
- By Application
- Bakery & Confectionery
- By Geography
- North America
- United States
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
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