Global Rice Milk Market 2017-2021

Overview of the global rice milk market

Technavio’s market research analyst predicts the global rice milk market to grow steadily at a CAGR of above 15% by 2021. One of the key drivers contributing to the rice milk market’s growth is the rise in the number of cases of lactose intolerance. Lactose intolerance is the inability of the body to digest significant amounts of lactose present in milk. Certain ethnic groups such as the Asian population are more affected compared to others. Also, in the US and Europe, the sales of lactose-free products doubled in 2014 due to the increase in self-diagnosed cases of lactose intolerance. Rice milk has proved to be a popular dairy-alternative milk in Asia and Europe as it is not only lactose-free but also fortified with essential vitamins and minerals needed for the growth and development of the body. With an increasing number of people adopting rice milk as an alternative for dairy milk, the global rice milk industry is expected to grow during the forecast period.

In terms of geography, Europe accounted for the maximum market share during 2016 and will continue to dominate the rice milk market for the next few years. The increasing lactose intolerance among the consumers is the main impetus for market growth as rice milk is low in fat and is good for people with a sensitive stomach as it is mild and easier to digest in comparison to dairy milk.  Many consumers are shifting from dairy milk to non-dairy milk, including rice milk, almond milk, and coconut milk. Due to the above-mentioned advantages, the demand for rice milk in Europe is expected to remain high in the coming years.

Competitive landscape and key vendors

The global rice milk market is highly competitive due to the constantly changing consumer demands and preferences in the food and beverage industry. The manufacturers in the global rice milk market may benefit from this overall economic development owing to the rise in the number health-conscious consumers over the globe who prefer non-dairy beverages. With the presence of both established regional and international vendors the competition in the global market is expected to intensify in the coming years.

Leading vendors in the market are –

• DREAM
• Pacific Foods
• Vitasoy
• WhiteWave Foods

Other prominent vendors in the rice milk market include Costco Wholesale Corporation, Ecoideas, FINE JAPAN, Freedom Foods, Pureharvest, SunOpta, The Bridge, and Whole Foods Market.

Segmentation by product type and analysis of the rice milk market

• Plain rice milk
• Flavoured rice milk

During 2016, the plain rice milk dominated the rice milk market and accounted for a major part of the overall market share. The rapid rise in the number of cases of lactose intolerance or maldigestion is the primary contributor to the dominance of this segment in the global market. Also, owing to the rising health-consciousness among the millennials who prefer natural drinks several cafés and restaurants have started selling rice milk to increase their revenues.

Segmentation by distribution channel and analysis of the rice milk market

• Supermarkets and hypermarkets
• Health food stores
• Convenience stores

In this market study, analysts have estimated supermarkets and hypermarkets to dominate the rice milk market during the forecast period. The growing organized retail globally and the availability of self-space for stoking multiple brands are the key factors responsible for the growth of this segment in the global market.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global rice milk market?
• What are the key market trends impacting the growth of the global rice milk market?
• What are the challenges to market growth?
• Who are the key vendors in the global rice milk market?
• What are the market opportunities and threats faced by the vendors in the global rice milk market?
• Trending factors influencing the market shares of the Americas, APAC, Europe, and ROW.
• What are the key outcomes of the five forces analysis of the global rice milk market?

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