Rice Milk Market

Market Overview:

The global rice milk market size reached US$ 710.5 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,438.7 Million by 2032, exhibiting a growth rate (CAGR) of 8.15% during 2024-2032. The increasing number of individuals with lactose intolerance or dairy allergies, rise of veganism and plant-based diets, increasing health consciousness among individuals, and the easy availability and accessibility of the product are some of the major factors propelling the market. 

Rice milk is a plant-based alternative to cow's milk, commonly consumed by individuals with lactose intolerance or those following a vegan diet. It is made by blending milled rice with water and then straining the mixture to remove any solids. The resulting liquid has a slightly sweet and watery consistency. It is naturally free from cholesterol, lactose, and dairy proteins, making it suitable for those with dietary restrictions or allergies. It is often fortified with vitamins and minerals to enhance its nutritional profile, particularly calcium and vitamin D. It is used as a beverage, poured over cereals, or incorporated into various recipes as a dairy substitute.

The increasing number of individuals with lactose intolerance or dairy allergies has escalated the demand for non-dairy alternatives like rice milk. Additionally, the rise of veganism and plant-based diets has significantly impacted the market. As more people adopt a vegan lifestyle or reduce their consumption of animal products, there is a rising preference for plant-based milk alternatives. Rice milk, being a dairy-free and vegan-friendly option, has gained traction among this demographic. Other than this, with the growing health consciousness, individuals are opting for rice milk, which is often perceived as a healthier alternative to cow's milk due to its lower fat content. Additionally, fortified products offer added nutritional benefits, which attract health-conscious consumers. Moreover, rice milk is now more readily available in supermarkets, health food stores, and online retailers, making it easier for consumers to incorporate the product into their diets.

Rice Milk Market Trends/Drivers:

Increasing number of individuals with lactose intolerance

Lactose intolerance is the inability to digest lactose, the sugar present in milk and dairy products. As more people are diagnosed with this condition or become aware of their intolerance, they seek alternative milk options that do not contain lactose. Rice milk serves as an ideal solution for individuals with lactose intolerance as it is naturally lactose-free. It provides a viable substitute for cow's milk, allowing those with lactose intolerance to enjoy a milk-like beverage without experiencing digestive discomfort. Manufacturers have capitalized on this trend by producing and promoting rice milk as a suitable alternative to dairy milk. This has led to increased availability of rice milk in stores, supermarkets, and online platforms, making it more accessible to consumers with lactose intolerance.

Rise of veganism and plant-based diets

Rice milk, being a plant-based and vegan-friendly option, has gained popularity among individuals who are adopting a vegan lifestyle or plant-based diets. It offers a suitable alternative to cow's milk, which is derived from animals and not compatible with vegan principles. Rice milk provides a viable substitute that aligns with the ethics and values of veganism and plant-based diets. The increasing demand for vegan and plant-based products has prompted manufacturers to expand their offerings, including rice milk, to cater to this growing market. As a result, rice milk has become more widely available in supermarkets, health food stores, and online platforms, further driving its market growth.

Rising health consciousness

Rice milk is often perceived as a healthier alternative due to its lower fat content. Health-conscious individuals, seeking to manage their weight or reduce their intake of saturated fats, are turning to rice milk as a lighter option. Furthermore, fortified rice milk, enriched with essential nutrients like calcium and vitamin D, appeals to health-conscious consumers who prioritize a well-rounded diet. These added nutritional benefits make rice milk an attractive choice for those seeking to meet their daily nutrient requirements. Moreover, rice milk is free from common allergens, such as lactose and dairy proteins, making it suitable for individuals with specific dietary restrictions or allergies.

Rice Milk Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global rice milk market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on form, source, and end use.

Breakup by Form:

• Powder Rice Milk
• Fluid Rice Milk 
   

Powder rice milk dominates the market

The report has provided a detailed breakup and analysis of the market based on the form. This includes powder and fluid rice milk. According to the report, powder rice milk represented the largest segment.

Powdered rice milk is widely used due to its convenience, long shelf life, and versatility. The powdered form allows for easy storage and transportation, making it accessible to a larger consumer base. It can be reconstituted with water, offering a quick and convenient alternative to fresh rice milk. Additionally, powdered rice milk has a longer shelf life compared to its liquid counterpart, reducing the risk of spoilage. This makes it a practical choice for individuals who may not consume rice milk regularly or those who prefer to have a non-perishable option on hand. Furthermore, powdered rice milk can be used in various culinary applications, including baking, cooking, and as a dairy milk substitute in beverages. Its versatility appeals to individuals with dietary restrictions or preferences, such as those following a vegan or lactose-free diet.

Breakup by Source:

• Organic
• Conventional
   

Organic rice milk is mostly preferred by individuals

A detailed breakup and analysis of the market based on the source has also been provided in the report. This includes organic and conventional According to the report, organic accounted for the largest market share.

Organic rice milk is favored by individuals who prioritize consuming organic products, as they are produced without the use of synthetic pesticides, fertilizers, or genetically modified organisms (GMOs). This appeals to health-conscious consumers concerned about potential chemical residues in their food. Additionally, it is often perceived as more environment-friendly. Organic farming practices prioritize sustainability and soil health, reducing the negative impact on ecosystems and wildlife. Moreover, it also offer a more natural and authentic taste, as it is made from organically grown rice without the addition of artificial flavors or additives. This resonates with individuals seeking a clean and pure product.

Breakup by End Use:

• Food and Beverages
• Nutraceutical and Baby Food
• Personal Care
• Pharmaceuticals
• Others
   

Food and beverages represent the largest end use segment

A detailed breakup and analysis of the market based on the end use has also been provided in the report. This includes food and beverages, nutraceutical and baby food, personal care, pharmaceuticals, and others. According to the report, food and beverages represented the largest segment.

Rice milk finds applications in various sectors of the food and beverage industry. It is commonly used as a dairy milk alternative in vegan or lactose-free products, such as plant-based yogurts, ice creams, and cheese. The mild and slightly sweet flavor makes it suitable for blending with other ingredients in smoothies, shakes, and non-dairy beverages. It is also utilized in baking, where it can be incorporated into recipes for cakes, cookies, bread, and other baked goods. Additionally, it is employed in savory dishes like soups, sauces, and curries to add creaminess and enhance flavor profiles. Its versatility allows for wide-ranging usage in both sweet and savory applications.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America exhibits a clear dominance in the market

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market.

In North America, there has been a rising demand for plant-based milk alternatives due to the increasing health consciousness, lactose intolerance, and dietary preferences such as veganism and vegetarianism. Rice milk, being a dairy-free and allergen-friendly option, appeals to these consumer groups. Additionally, the growing awareness of the environmental impact of animal agriculture has led to a shift toward more sustainable and plant-based choices. Furthermore, the availability of a wide range of flavors and fortified varieties of rice milk, along with its versatility in culinary applications, has contributed to its popularity across the region.

Competitive Landscape:

The market exhibits a moderate level of competition among existing players, with a potential threat of new entrants. While with the presence of established brands and manufacturers in the market, it is not heavily concentrated, allowing room for competition and innovation. Currently, several well-known companies dominate the market, offering a variety of brands and product options. These players have established distribution networks, brand recognition, and loyal customer bases, which may present challenges for new entrants. However, the rising demand for dairy-free alternatives and the continuous growth of the plant-based market attract new players to enter the industry. The potential for market expansion and the opportunity to tap into niche consumer segments create an incentive for new entrants. Furthermore, advancements in food technology and manufacturing processes enable easier entry into the market. New players can leverage these developments to introduce innovative products that differentiate themselves from existing offerings.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Axiom foods Inc.
• Ebro Foods S.A.
• Essona Organics Inc.
• OKF Corporation
• PureHarvest
• RISO SCOTTI S.p.A.
• Rita Food and Drink Co. Ltd.
• Stremicks Heritage Foods LLC (Dairy Farmers of America Inc.)
• The Bridge s.r.l.
• The Hain Celestial Group Inc.
• Vitasoy Australia Pty Ltd.

Recent Developments:

• Axiom Foods Inc. offers a unique allergen-friendly, whole grain dairy alternative ingredient, Oryz-O-Lait rice dairy alternative produced from brown rice. Axiom’s proprietary, all-natural production processes make Oryz-O-Lait available in powder form. It contains essentially all the protein, oils, vitamins, fiber, and carbohydrates found in whole, unpolished brown rice..
• Rita Food and Drink Co. Ltd. has launched organic rice milk made from 14% whole brown rice and no added sugars or calcium. This milk substitute is for people with intolerances or allergies as it is 100% soy, nut, dairy & gluten free.
• Ebro Foods SA subsidiary Tilda Rice launched plant-based sweet rice milk made with natural and organic ingredients with 16% rice content. The company claims that it includes more percentage of rice than any other brand and it is free from artificial emulsifiers and added sugar.

Rice Milk Market Report Scope:

Key Questions Answered in This Report:

• How has the global rice milk market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global rice milk market?
• What is the impact of each driver, restraint, and opportunity on the global rice milk market?
• What are the key regional markets?
• Which countries represent the most attractive rice milk market?
• What is the breakup of the market based on the form?
• Which is the most attractive form in the rice milk market?
• What is the breakup of the market based on the source?
• Which is the most attractive source in the rice milk market?
• What is the breakup of the market based on the end use?
• Which is the most attractive end use in the rice milk market?
• What is the competitive structure of the global rice milk market?
• Who are the key players/companies in the global rice milk market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the rice milk market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global rice milk market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the rice milk industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.