Rice milk market is expected to register a CAGR of above 15%, during the forecast period, 2018-2023.
Rice Milk is a great alternative for consumers who are lactose intolerant and cannot consume any dairy product. It is primarily produced with from the rice whole grains of brown rice. It is an alternative to conventional milk with benefits such as free-from cholesterol and lactose.
The rice milk market is targeted towards the vegan and lactose-free diet consuming population.
Rice Milk Market Dynamics
Rice milk is mild in taste and is naturally sweet in flavor. It has a slightly watery consistency and is great to drink on its own as well as in smoothies, in desserts and with cereals. Of all the non-dairy milk alternatives, rice milk contains the most carbohydrates — around three times as many as almond milk or soy milk. These factors are fuelling the growth of rice milk market in the economy.
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Organic version of rice milk is gaining momentum over the conventional product even though they are priced at a premium level. The premium price is due to the comparatively high production and distribution costs as well as consumers willingness to pay extra for organic products as they perceive it to free of preservatives. This is also one of the major drivers for rice milk market.
Rice Milk Market Segmentation
The rice milk market is segmented on the basis of application, source, form, and geography. By application, the rice milk market is further sub-segmented into Snacks, Bakery & Confectionery, beverages and others. Beverage consists of the largest market share due to high consumption of fluid milk.
By source, rice milk is segmented into organic and conventional. The organic rice milk segment is anticipated to dominate the rice milk market.
Rice Milk Regional Market Analysis
North America is anticipated to maintain its dominance in the global rice milk market as high percentage of lactose intolerant population is present with an emerging trend for vegan food preferences. Europe is an attractive market as the shift in consumer preference has been observed in the last few years. Asia-Pacific is anticipated to grow in the forecasted future as high lactose intolerant population is present. The Middle East and African region are also following the trend but still is an untapped market.
Key Developments in Rice Milk Market
July 2016 – Danone, the French dairy giant, acquired Whitewave Foods in a deal worth USD 10 billion to expand its business in thedairy industry.
Competitive Landscape of Rice Milk Market
Campbell Soup Company, Fine Japan Co. Ltd., Natures Choice Pty Ltd., Panos Brands Llc, Pureharvest Pty ltd, SunOpta Inc, The Bridge s.r.l, The Hain Celestial Group, Inc, Vitasoy Australia Products Pty Ltd, WhiteWave Foods
Players operating in the industry have adopted many attractive promotional and cross-selling strategies in order to boost their online sales and capture the maximum market share.
Reasons to Purchase Rice Milk Market Research Report
Analyzing outlook of the market with the recent trends and Porters five forces analysis.
Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come.
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects.
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years.
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players.
3 months analyst support along with the Market Estimates sheet in excel.
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