The global rice milk market to grow at a CAGR of 15.47% during the period 2017-2021.
Global Rice Milk Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
According to the report, one of the major drivers for this market is rising levels 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. The demand for lactose-free food products is driven by an increase in incidences of food allergies and intolerances.
The latest trend gaining momentum in the market is consumer focus shifting toward organic variants of rice milk. Organic products are mostly priced higher in comparison to the conventional products. The premium price is due to the comparatively high production and distribution costs as well as consumers' willingness to pay extra for organic products. The extra "premium" cost associated with organic production is passed throughout the supply chain and at last paid by the end-consumer
Further, the report states that one of the key challenges facing the growth of the global rice milk market is the rising popularity of other non-dairy milks, especially almond milk and rice milk. The global almond milk was valued at $3.51 billion in 2015 and is expected to reach $7.2 billion in 2020, growing at a CAGR of 15.45% during 2015-2020. Consumers prefer almond milk not only due to its taste but also owing to its functional properties of containing high amounts of vitamin E, calcium, magnesium, and potassium and almost no cholesterol.
Other prominent vendors
Costco Wholesale Corporation
Whole Foods Market
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product type
Part 07: Geographical segmentation
Part 08: Market segmentation by distribution channel