Global rice milk market is expected to rise from its initial estimated value of USD 5.34 million in 2018 to an estimated value of USD 16.33 million by 2026, registering a CAGR of 15% during the forecast period of 2019-2026. This rise in market value can be attributed to rising need of plant protein amid rising amount of health concerns and veganism worldwide.
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Market Definition: Global Rice Milk Market
Rice milk has a mild and naturally sweet taste. It has a watery consistency and makes for a great ingredient in smoothies, with cereals and in desserts. Out of all non-dairy milk products, rice milk has the maximun carbohydrates and,almost three times more than almond milk or soy milk.Such factors are contributing in the growth of rice milk market in the economy.
Key Market Competitors: Global Rice Milk Market
Few of the major competitors currently working in the rice milk market are Blue Diamond Growers Inc., Earth’s own food company inc., Eden foods inc., Grupo Leche Pascual S.A., Freedom Foods, Living Harvest Foods Inc., Nutriops S.L., Oatlyab AB, SunOpta Foods, Organic ValleyFamily of Farms, Pacific Natural Foods, Panos Brands LLC, Pure Harvest, Sanitarium Health & Well being Company, Streamicks Heritage Foods, Bridge SRL, Hain Celestial Grocery, The WhiteWave Foods Company, Turtle Mountain LLC, Vitasoy Dairy Milk, Kikkoman Corporation.
Key Developments in the Market:
- In December, 2018, Heritage Foods launches its first store in Andhra Pradesh. The heritage has taken the lead in making customers life easy.
- In July 2016, Danone, the French dairy giant, acquired White wave Foods in a deal worth USD 10 billion to expand its business in the dairy industry.
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- Increasing number of product launches and investments by major players
- Rapidly growing beverage industry
- High prices of plant-based beverages as compared to dairy milk
- Risk of contamination with arsenic in rice milk
Market Segmentation: Global Rice Milk Market
- By Application
- Bakery & Confectionery
- By Form
- Powder rice milk
- Fluid rice milk
- By Source
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Competitive Analysis: Global Rice Milk Market
Global rice milk market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of rice milk market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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