NEWARK, DE / ACCESSWIRE / June 6, 2023 / The rice milk market is registering a valuation of US$ 0.639 billion in 2023 and is projected to reach US$ 1.3 billion by 2033. The market is capturing a CAGR of 6% during the forecast period.
How is the Popularity of Rice Milk Growing Among Consumers?
The popularity of rice milk is rapidly growing among consumers due to several factors, including:
- Plant-based Trend: The increasing demand for plant-based and vegan trends is advancing the global market. The demand for rice milk is growing due to lactose intolerance and rising allergies to milk.
- Digestive Benefits: Adopting rice milk among consumers improves the digestion system with its natural ingredients. It is one of the suitable alternatives for the stomach as compared to milk.
- Allergen-free: Rice milk is made up of natural and organic flavor ingredients. It is sustainable without allergens such as soy, lactose, and nuts.
- Mild Flavor: The demand for rice milk is rising due to its sweet, mild, natural flavor. Rice milk is a standalone beverage with versatile ingredients.
- Nutritional Profile: Rice milk is lower in fat than other milk. It provides better nutrition, vitamins and minerals, and essential nutrients such as vitamins B and D.
- Sustainable Option: The demand for rice milk is increasing due to its sustainability and lower greenhouse gas emissions than dairy milk, such as cow's milk.
- Variety: Rice milk is popular plant-based and is available in oat, soy, and almond milk varieties.
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Key Takeaways:
- The rice milk market is predicted to register a CAGR of 6% with a valuation of US$ 1.3 billion in 2033.
- In the historical period, the market secured a CAGR of 2.4% between 2018 and 2022.
- India is estimated to lead the global market by securing a CAGR of 7.8% by 2033.
- Based on end use, the food & beverages sector is estimated to register a share of 21.5% during the forecast period.
- The market is anticipated to capture a valuation of US$ 0.639 billion in 2023.
How Key Players Are helping surge the Global Market?
Key players focus on developing sustainable, lactose-free rice milk to expand the global market. These key players are adopting marketing tactics, including collaborations, mergers, acquisitions, product launches, and agreements.
Key players are launching new products in the global market with exotic flavors and organic ingredients additions. A few of the prominent players in the market are as follows:
- Dream Plant-based: The company offers dairy-free alternatives to their customers with a clean label and eco-friendly sourcing.
- Vitasoy: The company provides soy-based products to their customers with the high-quality and wide availability of beverages.
- Earth's Own: This company provides plant-based and vegan beverages to its consumers. They are promoting their brand with distribution channels.
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Recent Developments in the Global Market:
- In 2022, Ebro Foods announced its newly launched rice milk product with 100% organic ingredients. They offer non-toxic, artificial sugar-free rice milk containing 16% of rice content.
- In 2021, Linda McCartney launched its plant-based rice milk with different types of varieties, including organic rice and organic soya.
Market Categorization:
By Distribution Channel:
- Supermarket & Hypermarket
- Online Retails
- Others
By Form:
- Powder
- Liquid
By Source:
- Organic
- Conventional
By End Use:
- Food & Beverages
- Nutraceuticals & Baby Food
- Personal Care
- Pharmaceuticals
- Others
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Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and Their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyers
Complete TOC of this Report @ https://www.futuremarketinsights.com/toc/rep-gb-14551
Explore FMI's Extensive Ongoing Coverage in Food and Beverage Domain:
Plant-based Milk Market Demand: Plant-based milk sales are set to account for a significant part of demand in the global food market. By 2033, the market for plant-based milk is estimated to reach US$ 47.2 billion.
Flavored Milk Market Outlook: The flavored milk market is predicted to register a valuation of US$ 3,511.20 million in 2023, and is estimated to rise to US$ 6,529.38 million by 2033. The market is anticipated at a CAGR of 6.4% during the forecast period.
UHT Milk Market Overview: The UHT milk market is anticipated to develop at a CAGR of 6% and reach a value of US$ 69.09 billion in 2023. UHT milk sales are expected to reach US$ 119.792 billion by 2033 as people place more importance on health and fitness.
Milk Ingredients Market Growth: The global market for Milk Ingredients is expected to grow at a CAGR of 4.4% over the anticipated time period, according to data from Future Market Insights. The market's value is predicted to increase from US$ 69.9 Billion in 2022 to US$ 97.6 Billion in 2032.
Milk Powder Market Value: The global milk powder market is expected to surpass the market valuation of US$ 34.5 Billion in 2022 and it is expected to grow at a CAGR of 4.5% by 2022 to 2032,
Milk Protein Hydrolysate Market Size: The milk protein hydrolysate is growing at a CAGR of 6.9% in 2022 and is expected to reach a market value of US$ 1.6 Billion in 2032. The North American milk protein hydrolysate market is expected to register a 6.8% CAGR between 2022 and 2032.
Milk Protein Market Volume: The milk protein market is valued at US$ 11.4 Billion in 2022 and is projected to grow at a CAGR of 5.6% during the forecast period, to reach a value of US$ 19.7 Billion by 2032.
A2 Milk Market Analysis: The A2 milk market is expected to grow from US$ 1,984.20 Million in 2022 to US$ 4,947.70 Million by 2032, at a 9.6% CAGR during the forecast period.
Hempseed Milk Market Share: The global hempseed milk market size is expected to grow at a CAGR of 7.7% in the forecast period from 2022 to 2032. The market is projected to reach a valuation of US$ 236.4 Million by 2032 from US$ 112.8 Million in 2022.
Milk Fat Fractions Market Sales: Milk fat fractions have gained immense popularity in recent years due to their nutritional value as it supports human health and development. Milk fat fraction is one of the highly used ingredients for the preparation of various bakery products.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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