Rice Milk Market Size, Share, Growth and Trends, Forecast 2024-2031

Global Rice Milk Market reached USD 750.3 million in 2023 and is expected to reach USD 1,223.2 million by 2031, growing with a CAGR of 6.3% during the forecast period 2024-2031.

The rice milk market revolves around the production, distribution, and consumption of rice milk-a plant-based alternative to traditional dairy milk. Made from rice and water, rice milk is a popular choice for people with lactose intolerance, dairy allergies, or those following a vegan lifestyle. It offers a mild, slightly sweet taste and is often enriched with vitamins and minerals to provide nutritional benefits similar to those found in dairy milk.

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Key Developments:

• In February 2021, Nestlé introduced the KitKat V, a new plant-based chocolate bar made with rice milk. This move was in response to the rising demand for vegan products and features responsibly sourced cocoa. By launching KitKat V, Nestlé tapped into the vegan market, attracting those looking for plant-based treats.

• Then, in April 2021, SunOpta made a significant move by acquiring the Dream and WestSoy brands from The Hain Celestial Group for $33 million. This strategic acquisition enhances SunOpta's position in the plant-based beverage market, allowing them to offer these well-known brands as part of their product lineup.

• A month later, in May 2021, Linda McCartney expanded its presence in the dairy alternatives sector with a new range of plant-based milk beverages. Their new lineup includes Barista Style Organic Oat, Barista Style Organic Coconut, Organic Soya, and Organic Rice milk drinks, diversifying their offerings to cater to various preferences in the plant-based milk market.

Market Dynamics:

Growing Awareness About the Health Benefits Associated with Plant-Based Diets Drives Market Growth

Rice milk is indeed becoming a popular choice, especially among health-conscious consumers, due to its lactose-free and low-calorie profile, along with the added benefit of being fortified with vitamins and minerals. The growing interest in plant-based diets, driven by health, environmental, and ethical concerns, is certainly boosting its market appeal. Additionally, flavored options like chocolate, vanilla, and matcha are helping manufacturers attract a wider audience.

Segment Covered in Rice Milk Market:

By Type: Sucrose, Glucose, Fructose.

By Form: Granular Coconut Sugar, Liquid Coconut Sugar, Powdered Coconut Sugar.

By Nature: Organic, Conventional.

By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, E-Commerce, Others.

By Application: Food and Beverages, Cosmetics and Personal Care.

By End-User: Commercial, Household.

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Key players involved in Rice Milk Market:

• Stremicks Heritage FoodsTM, LLC
• Essona Organics, Inc.
• Nutra Organics
• Danone
• The Hain Celestial Group, Inc.
• Campbell Soup Company
• Nature's Choice
• PANOS brands
• VitaRice Australia Products Pty Ltd.
• Pureharvest Pty Ltd.

*Note:

• Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.

Regional Analysis:

The Rice Milk Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Rice Milk Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

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