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Rice Milk Market Introduction

Rice Milk is sourced from rice whole grains produce through an enzymatic process. The rice milk is produced from whole grains of brown rice. Rice milk is a great alternative to conventional milk with its benefits such as free-from cholesterol and lactose. Rice milk is primarily produced with added fortified elements to overcome the lack of nutrients in it. The rice milk market is targeted towards the vegan and lactose-free population. North America and Asia-Pacific are considered to be the key regions for rice milk market globally. 

Rice Milk Market Segmentation

 The rice milk market can be segmented by form, source, application, and distribution channel.

By form, the rice milk market can be segmented into powder rice milk and fluid rice milk. The volume share of the fluid milk is anticipated to dominate over the powder milk segment. The powder rice milk is primarily consumed by food process industry for varied application.

By source, the rice milk market can be segmented into organic and conventional. The organic rice milk segment is anticipated to dominate over the conventional over the forecast period.

By application, the rice milk market can be segmented into snacks, bakery, confectionery, beverages, and others. Beverage to consist a large share in the rice milk market due to high consumptions as fluid milk.

The Rice Milk market can be segmented by distribution channels direct and indirect. The indirect can be sub-segmented into modern trade format, departmental stores, convenience store, e-commerce and other retail formats. The modern trade format and e-commerce are expected to have a larger share regarding volume as targeted consumers are easy to achieve under such formats.

Rice Milk Market: Region-wise Outlook

 North America is anticipated to stay strong market for the rice milk as ethnically high percentage of lactose intolerant population is present with emerging trend for flexitarian or vegan food preferences. Europe is going to be an attractive market for the rice milk as a large shift in food preference for vegan food can be observed over last few years. Asia Pacific carries similar characteristics of the high lactose intolerant population and similar traditional drink in Japanese culture can be found which is anticipated to form a strong market for rice milk manufacturers. The Middle East and Africa and the Latin American region are also following the dairy alternative trend and hence will prove to rewarding market for the rice milk manufacturers.

Rice Milk Market: Drivers and Restraints

Rise in dairy alternative food demand and awareness of the benefits of rice milk consumption is expected to drive the global rice milk market. Recent trends in food market such as lactose-free dairy products and vegan food habit are anticipated to further boost the global rice milk market over the forecast period.

Low market penetration of the product and lack of awareness may result in restraint for the global rice milk market. The presence of competitive products like almond and coconut milk can result in further restraint over the rice milk market.

Rice Milk Market: Key Players

The key players in the rice milk market are Good Karma Foods, Inc., The Trader Joe's Company, Vitasoy Australia Products Pty Ltd, Pacific Foods of Oregon, Inc., (Dream) The Hain Celestial Group, Inc., Pureharvest Pty ltd., Nature's Choice Pty Ltd, and Panos Brands Llc. Key players are focusing on adopting developmental strategy such as expansions & investments for business development and growth.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Rice Milk Market

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