Market Size of Rice Milk Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 277.08 Million |
| Market Size (2029) | USD 358.37 Million |
| CAGR (2024 - 2029) | 5.28 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Rice Milk Market Analysis
The Rice Milk Market size is estimated at USD 277.08 million in 2024, and is expected to reach USD 358.37 million by 2029, growing at a CAGR of 5.28% during the forecast period (2024-2029).
Rice Milk is an excellent alternative for consumers who are lactose intolerant and cannot consume any dairy product. It is primarily produced from the whole rice grains of brown rice. It is an alternative to conventional milk with benefits such as free-from cholesterol and lactose. The increasing prevalence of non-dairy milk products and the rising vegan diets adoption are resulting in manufacturers substituting ingredients high in lactose content with rice milk which is driving the rice milk market. Rice milk includes a flavor, texture, and taste similar to regular cow milk.
Furthermore, with a rising number of lactose-intolerant, soy-intolerant, and nut-intolerant consumers worldwide, consumers are shifting toward rice milk consumption. Rice milk powder can also be used in baby food because it provides more carbohydrates than any other milk. Rice milk is also used in the bakery sector as a gluten-free alternative as it includes digestive enzymes that help quicker digestion and absorption in the body. The factors like growing e-commerce retailing, demand for rice milk in functional beverages, preference for rice milk over regular cow milk, an increasing vegan population, and demand for organic and non-GMO foods are expected to drive the market over the medium term.
