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.
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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.
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.
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.
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