Rice Milk Market

Increasing demand for dairy alternative food is driving the market growth

Increasing dairy alternative food demand and raising awareness of the rice milk benefits are expected to drive the rice milk market. Due to changes in lifestyle patterns and environmental effects, consumers are shifting towards low calories and healthy food. Dairy alternatives like rice milk help in easy digestion. Additionally, rice milk is mild in taste and naturally sweet. It has a slightly watery consistency and is great for smoothies, desserts, and cereals. Rice milk contains the most carbohydrates of all the non-dairy milk alternatives, around three times as many as almond milk or soy milk.

The Global Rice Milk Industry experiences a notable surge in demand driven by increasing health consciousness among consumers. As individuals become more aware of dietary choices, the preference for plant-based alternatives, such as rice milk, grows. This shift is particularly evident in regions where lactose intolerance is prevalent, leading to a broader acceptance of rice milk as a viable substitute for dairy. The market is projected to reach 2.69 USD Billion in 2024, reflecting this trend. Furthermore, the anticipated growth in health-focused consumer segments suggests that rice milk will continue to gain traction, potentially expanding its market share in the coming years.

The Global Rice Milk Industry benefits from innovative marketing strategies that effectively target health-conscious consumers. Brands are increasingly leveraging social media and influencer partnerships to promote rice milk as a trendy, healthful alternative to dairy. These marketing efforts often highlight the nutritional benefits of rice milk, such as being lactose-free and low in allergens, which resonate with a broad audience. As companies continue to refine their marketing approaches, the visibility of rice milk is likely to increase, potentially leading to higher sales and market penetration. This dynamic marketing landscape may play a crucial role in shaping the future of the rice milk market.

The versatility of rice milk in various food applications significantly contributes to the expansion of the Global Rice Milk Industry. It is increasingly utilized in products ranging from dairy-free ice creams to baked goods and smoothies, appealing to a diverse consumer base. This adaptability not only enhances the market's growth potential but also encourages manufacturers to innovate and create new rice milk-based products. As the industry evolves, the incorporation of rice milk into mainstream food products is likely to drive sales, with projections indicating a market value of 8.97 USD Billion by 2035, underscoring the importance of product diversification.

Growing awareness of environmental issues influences consumer preferences, thereby impacting the Global Rice Milk Industry. Rice milk is often perceived as a more sustainable alternative to traditional dairy, as its production generally requires less water and land. This aligns with the increasing demand for eco-friendly products among consumers who prioritize sustainability in their purchasing decisions. As a result, rice milk is gaining popularity not only for its health benefits but also for its lower environmental footprint. This trend may contribute to a compound annual growth rate of 11.57% from 2025 to 2035, reflecting the market's potential for sustainable growth.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American rice milk market area will dominate this market due to the expansion at a rapid pace during the forecast period due to the increasing population of lactose intolerant in the Region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: RICE MILK MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Europe's Rice Milk market accounts for the second-largest market share due to the increasing trend of veganism and the rapidly rising vegan population in the Region. Further, the German Rice Milk market held the largest market share, and the UK Rice Milk market was the fastest-growing market in the European Region.

The Asia-Pacific Rice Milk Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due tothe rising awareness among consumers concerning the unmatched benefits offered by rice milk, such as Vitamin B and Vitamin A, and rich sources of calcium fueling the market growth in the Region. Moreover, China’s Rice Milk market held the largest market share, and the Indian Rice Milk market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the rice milk market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The rice milk industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Rice Milk industry to benefit clients and increase the market sector. The Rice Milk industry has offered some of the most significant advantages in recent years.Major players in the Rice Milk market, including 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), and others, are attempting to increase market demand by investing in research and development operations.

Nestlé S.A. is a Swiss multinational food and drink processing conglomerate corporation headquartered in Vevey, Vaud, Switzerland. It has been the world's largest publicly held food company, measured by revenue and other metrics, since 2014.Nestlé introduced a plant-based KitKat V made with rice milk in February 2021. KitKat V is vegan and made with responsibly sourced cocoa. This innovation aided the company in targeting the vegan sector, and as of 2022, they are looking to launch the product in additional countries.

Vinamilk, formally the Vietnam Dairy Products Joint Stock Company, is the largest dairy company in Vietnam. Based on the UNDP 2007 Top 200 largest firms in Vietnam report, it was also the 15th largest company in Vietnam and formerly the most valuable public company listed in Vietnam.Vinamilk, a popular dairy company based in Vietnam, launched a plant-based drink with rice as the main ingredient. The new Vinamilk Zori is roasted rice milk with less sugar that contains 49% rice extract, water, sugar, and other ingredients. Vinamilk Zori contains less sugar and less fat.

The drink is said to be beneficial to the body and skin.