Rice Milk market will see an impressive year on year growth from 2018 to 2024
The recent study titled, “Rice Milk Market - Forecasts from 2019 to 2024” covers an in-depth analysis of the market on the basis of the source, form, application, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2019-2024. The report has segmented the Rice milk market by source (organic, conventional), form (powder rice milk, fluid rice milk), application (beverages, bakery & confectionery, others) and geography (North America, South America, Europe, Middle East, and Africa, Asia Pacific). Rice milk market is particularly targeted towards the lactose-free population. It is one of the best alternatives to dairy milk and contains most carbohydrates compared to almond and soy milk. Rising health awareness associated with the consumption of rice milk and growing dairy alternative food demand is expected to be one of the key drivers for the market during the forecast period. In addition, a rising number of product launches and increasing penetration in the developing countries around the globe is further expected to people the market growth opportunities in the coming years. However, the presence of competitive products like almond and coconut milk is expected to hinder the market growth opportunities in the coming years.
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By application, the beverages segment is showing an impressive year-on-year increase, and this trend is expected to continue over our forecast period.
By application, beverages segment of rice milk is estimated to account significant market share and is expected to grow rapidly during the forecast period on account of expanding food and beverage industry and raising awareness of the benefits of rice milk. In addition, increasing demand for dairy alternative milk around the globe is further expected to propel the market growth opportunities in the coming years.
North America is expected to account for a significant share in the market.
North America rice milk market is estimated to have a significant share in terms of both value and volume in the global market, and the region is further anticipated to grow during the forecast period on account of increasing population suffering from obesity and lactose intolerance. In addition, growing beverage industry and growing product launches in the region also drive the growth of the market during the forecast period. Moreover, North America accounts for a steady demand for rice milk due to the increasing awareness of health benefits from its consumption.
Some of the major industry players profiled as part of the report are Danone (Alpro), Vitasoy Australia Products Pty Ltd, Fine Japan Co. Ltd, The Bridge bio, Pacific Foods, SunOpta Inc., and Campbell, among others.
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