Rice Milk Market Size 2024 to 2031.

Market Overview and Report Coverage

Rice milk is a dairy-free alternative made from milled rice and water. It is a popular choice for individuals with lactose intolerance, dairy allergies, or those following a vegan diet. The demand for rice milk is growing due to the increasing awareness about the health benefits associated with plant-based milk alternatives.
The rice milk market is expected to continue its growth trajectory in the coming years. The market is projected to expand at a CAGR of 10.00% during the forecasted period, driven by the rising preference for plant-based products, growing vegan population, and increasing awareness about the health risks associated with dairy consumption.
Factors such as the rise in disposable income, changing dietary preferences, and the expansion of distribution channels are also expected to contribute to the growth of the rice milk market. Manufacturers are continually innovating and introducing new flavors and varieties to cater to the evolving consumer preferences.
Overall, the future outlook for the rice milk market looks promising, with a healthy growth rate forecasted for the coming years. As consumers become more health-conscious and environmentally aware, the demand for plant-based milk alternatives like rice milk is expected to continue to rise.

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Market Segmentation
The Rice Milk Market Analysis by types is segmented into:
• Powder Rice Milk
• Fluid Rice Milk

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Rice milk comes in two main market types: powder rice milk and fluid rice milk. Powder rice milk is a convenient option that can be easily stored and has a longer shelf life. It is often used in cooking and baking. On the other hand, fluid rice milk is ready-to-drink and usually comes in cartons or bottles. It is popular as a dairy-free alternative to cow's milk and is consumed for its light, slightly sweet taste.

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The Rice Milk Market Industry Research by Application is segmented into:
• Snacks
• Bakery & Confectionery
• Beverages and Others

Rice milk is commonly used in various food and beverage applications. In the snacks segment, it is used to make rice milk-based snacks like rice milk pudding or rice milk-based granola bars. In the bakery and confectionery segment, rice milk is used as a dairy alternative in baking cakes, cookies, and other confectionery items. In the beverages segment, rice milk is used to make dairy-free drinks like rice milk lattes or smoothies. Other applications of rice milk include soups, sauces, and dressings.

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In terms of Region, the Rice Milk Market Players available by Region are:

North America:
• United States
• Canada

Europe:
• Germany
• France
• U.K.
• Italy
• Russia

Asia-Pacific:
• China
• Japan
• South Korea
• India
• Australia
• China Taiwan
• Indonesia
• Thailand
• Malaysia

Latin America:
• Mexico
• Brazil
• Argentina Korea
• Colombia

Middle East & Africa:
• Turkey
• Saudi
• Arabia
• UAE
• Korea


What are the Emerging Trends in the Global Rice Milk market?
Some emerging trends in the global rice milk market include the increasing popularity of plant-based diets, growing awareness about lactose intolerance and dairy allergies, and rising demand for alternative dairy products. Consumers are also becoming more health-conscious and looking for low-calorie, nutrient-rich options, driving the demand for rice milk. Manufacturers are innovating with new flavors and formulations to cater to changing consumer preferences. Sustainability is also a key trend, with consumers looking for eco-friendly packaging and production methods. Additionally, the rise of e-commerce and online grocery platforms is making rice milk more accessible to a wider audience.

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Major Market Players
One of the key players in the rice milk market is SunOpta, a Canadian company that specializes in organic, non-GMO, and specialty foods. SunOpta has a long history in the food industry, starting with a focus on natural and organic ingredients. In recent years, the company has expanded its product offerings to include a variety of plant-based beverages, including rice milk. SunOpta has experienced significant market growth as consumer demand for plant-based alternatives to dairy has increased. The company's market size has also expanded as it has increased its distribution and availability across various retail channels.
Another major player in the rice milk market is Pacific Foods, a subsidiary of Campbell Soup Company. Pacific Foods has a strong reputation for producing high-quality organic and plant-based products, including rice milk. The company has seen steady market growth due to its commitment to sustainability and clean label ingredients. Pacific Foods has a significant market share in the rice milk industry, with a strong presence in both traditional and natural grocery stores.
As for sales revenue, WhiteWave Foods (now owned by Danone) reported annual sales revenue of over $4 billion in 2016, making it one of the largest plant-based food companies in the world. Vitasoy, a leading Asian company specializing in plant-based beverages, reported sales revenue of over $353 million USD in 2020. Costco Wholesale, a major retailer of plant-based products including rice milk, reported sales revenue of over $163 billion USD in 2020.
Overall, the rice milk market is highly competitive with a variety of players catering to the growing consumer demand for plant-based alternatives to dairy. Companies like SunOpta, Pacific Foods, WhiteWave Foods, and Costco Wholesale are driving market growth through innovation, sustainability, and increased availability of rice milk products.

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