Market Definition:

Rice milk is lactose-free and so is used in several applications in lactose free diets. It is considered as an important source of nutrients. Moreover, owing to increase trend of veganism among consumers, have led more usage of non-dairy product. Thus, fueling the growth of rice milk market in future. It is a major factor driving the growth of global rice milk market. Rice milk is nutritious and is extensively used as a substitute to traditional dairy-milk.

Market Scenario and Key Restraints:

Based on form, the global rice milk market has been segmented into powder and liquid. The fluid segment accounted for the maximum market share in 2017 and is expected to grow at a higher rate during the forecast period due its increasing usage in desserts, smoothies and with cereals. Rice milk helps body to eliminate waste and helps lowering the cholesterol levels in the body. Which in turn, is expected to boost the market during the forecasted period.

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Key Players:

Some of the key players in the global rice milk market are Vitasoy Australia Products Pty Ltd (Australia), Campbell Soup Company (US), The Hain Celestial Group (US), Pureharvest (Australia), Nature's Choice Pty Ltd (South Africa), Panos brands, LLC (US), WhiteWave Foods (US), SunOpta, Inc. (Canda), The Bridge S.R.L (Italy), Fine Japan Co.,Ltd. (Japan).

Market Segment:

The global Market for Rice Milk has also been classified, by category, into organic and conventional. The conventional segment is expected to dominate the market due to the widespread use of conventionally produced rice milk in various beverages & desserts. However, the organic segment is expected to grow at a higher CAGR during forecast period owing to increasing preference and high inclination of consumers towards organic products. The awareness of the benefits of organic products is increasing among the consumers which is expected to drive the growth of the organic segment in the market.

The global rice milk market has been segregated, by distribution channel, into store-based and non-store based. The store-based segment has been further segregated into supermarkets and hypermarkets, convenience store, and others. The store-based segment is expected to generate higher revenue, with the supermarkets and hypermarkets sub-segment being the largest due to the strong and widespread network of stores. The non-store-based segment is expected to register the higher CAGR during the assessment period owing to technological advancements in the e-commerce industry and growing consumer preference for online retailing.

Regional Analysis:

On the basis of region, the global rice milk market has been segmented by North America, Europe, Asia-Pacific, and RoW. North America is expected to dominate the global rice milk market owing to the increasing prevalence of lactose intolerance and veganism, especially in US and Canada.

The rice milk market in Asia Pacific is expected to grow rapidly due to the increasing adoption of healthy, lactose-free and fat-free diets by the rising health-conscious population. Emerging markets such as China and India are projected to contribute to the growth of the regional rice milk market.

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