The GlobalRice Milk Marketis experiencing a significant growth trajectory, with a projected Compound Annual Growth Rate (CAGR) of 7.8%. Starting from a value of USD 136.8 million in 2019, the market is expected to reach USD 251.3 million by 2027. This growth can be attributed to several factors that have led to an increasing consumption of alternatives to milk and dairy-based products.
One of the key drivers for this trend is the growing awareness of health consciousness among consumers. People are becoming more mindful of their dietary choices and are actively seeking healthier alternatives. Rice milk, being a plant-based product, is perceived as a healthier option due to its lower fat content and absence of lactose, which makes it suitable for individuals with lactose intolerance.
Moreover, the rise in popularity of vegan diets has also contributed to the surge in demand for rice milk. Many individuals are adopting vegan lifestyles for ethical, environmental, or health reasons, and rice milk provides them with a viable dairy alternative. As a result, the market has witnessed a shift towards plant-based or cereal alternatives in comparison to traditional dairy products.
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Top Leading Players in Rice Milk Market:
Panos Brands LLC, Pureharvest Pty Ltd, Gan Teck Kar Foods, Stratum Nutrition, SunOpta Inc., Fine Japan Co. Ltd., The Bridge S.R.L, Vitasoy Australia Products Pty. Ltd., Nature\s ChoiceB.V., and SunOpta Inc., among others
Notable Innovation in Rice Milk Market:
- Flavored Varieties: Manufacturers have introduced flavored rice milk options to cater to different taste preferences. Flavors such as vanilla, chocolate, strawberry, and matcha have gained popularity, providing consumers with a more enjoyable and flavorful drinking experience.
- Fortified with Nutrients: To enhance the nutritional profile of rice milk, manufacturers have started fortifying it with essential vitamins and minerals. Common fortifications include adding calcium, vitamin D, vitamin B12, and iron to ensure that rice milk can provide similar nutritional benefits as traditional dairy milk.
- Organic and Natural Options: With the rising demand for organic and natural products, many companies have developed organic rice milk options. These products are made from organically grown rice and are free from artificial additives and preservatives, appealing to health-conscious consumers.
- Improved Texture and Creaminess: In response to consumer preferences, manufacturers have focused on improving the texture and creaminess of rice milk. Through technological advancements and formulation improvements, companies have developed rice milk products that have a smoother and creamier consistency, resembling traditional dairy milk more closely.
- Ready-to-Drink Packaging: Convenient and on-the-go options have gained popularity in the rice milk market. Ready-to-drink packaging formats, such as single-serve cartons or bottles, have been introduced, allowing consumers to easily consume rice milk as a grab-and-go beverage.
Rice Milk Market Segmentation:
Sales Channel Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
- Supermarket Hypermarket
- Online Retails
- Others
Form Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
- Powder
- Liquid
End-Use Verticals Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
- Food Beverages
- Nutraceuticals Baby Food
- Personal Care
- Pharmaceuticals
- Others
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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