Rice milk drinkers are increasing


Global sales of rice milk are rising, said Future Market Insights (FMI). The firm's latest study shows that total sales in the rice milk market will reach a valuation of US$614.3 million in 2022, surging at a 6.2% compound annual growth rate (CAGR) over the assessment period.
Rice milk has a flavour, taste, and texture similar to cow's milk and is emerging as one of the most preferred plant-based milk substitutes. Increasing demand for dairy alternatives among lactose-intolerant and nut-intolerant consumers will drive the market in the forthcoming years.
The study also shows that demand in the US rice milk market is poised to surge at a 4.2% CAGR over the forecast period. Meanwhile, Malaysia will emerge as a lucrative pocket in the South Asia rice milk market, with sales growing at a 9.8% CAGR through 2032.
Based on form, demand for rice milk powder will continue gaining momentum. The F&B segment will account for a dominant share in the global market of end-use. By distribution channel, sales of rice milk through online channels will remain high.
The research firm notes that crucial players operating in the global rice milk market invest in partnerships and collaborations to improve their global presence. They are also launching clean-label and non-GMO products to gain a competitive edge.
An analyst for FMI said more awareness of the functional benefits of rice milk, along with increasing incorporation of rice milk powder in infant food and nutraceuticals, will continue augmenting the growth in the market.

(Image from WikiCommons)


Post a Comment

0 Comments