Kosher economy is witnessing expansion with significant acceptance of kosher food in food industry. Kosher food market is setting out to be global targeting Jewish as well as non-Jewish communities globally, owing to increasing awareness about its dietary quality and ethical reasons. The global kosher food market is projected to register an impressive expansion at 11.6% CAGR during the forecast period 2017 to 2025, according to a report by Persistence Market Research (PMR). PMR’s report states that the market will account for revenue worth US$ 24,148 Mn in 2017; by 2025 this number is estimated to reach nearly US$ 60,000 Mn.
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Increasing Adoption of Kosher Food by Vegetarian and Lactose-intolerant Consumers to Drive Market Growth
Growth of the global kosher food market is primarily attributed to concentration of Jewish population in specific regions, coupled with few members of various Christian community. Increasing adoption of kosher foods by vegetarian consumers, health conscious consumers, and patients with lactose intolerance and celiac disorders, is further expected to drive growth of the market. Growing number of kosher food manufacturers are focusing on gluten-free certification owing to high demand from kosher consumers suffering from lactose and gluten intolerance.
In addition, demand for kosher foods is coagulated by “Kosher Fest”- the most prominent and demanded kosher-certified products trade show in the world. Kosher fest promotes food industry manufacturers in certifying their products in accordance with kosher laws. These factors are estimated to fuel adoption of kosher foods across the globe. In contrast, factors such as absence of unified kosher standards, weak supply chain infrastructure as compared to non-kosher foods, and maintaining kosher integrity in supply chain are expected to restrain growth of the global kosher food market.
MEA to be the Largest Market for Kosher Food by 2025-End
Middle East & Africa (MEA) will witness fastest growth in the global kosher food market, and is estimated to be the largest market for kosher food by 2025-end. Sales of kosher food in MEA is expected to reach revenue worth US$ 24,805 Mn by 2025. In addition, North America is expected to follow MEA in terms of market share, expanding at 11.3% CAGR through 2025. In contrast, Asia Pacific will hold lowest share of the market during the forecast period.
Pareve will Remain Preferred Raw Material for Kosher Food Globally
Pareve will continue to be the preferred raw material for kosher food, with sales pegged to reach nearly US$ 15,000 Mn in 2017. In addition, dairy is expected to follow pareve in terms of CAGR to be the second most lucrative raw material for kosher food. Based on application, snack food will remain dominant in the market, expanding at highest CAGR through 2025. In terms of revenue, process meat & poultry is estimated to be the second largest application of kosher food by 2025-end. In contrast, seafood application of kosher food will exhibit a comparatively low CAGR in the market.
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Key players identified in PMR’s report include Empire Kosher Poultry, Inc (Hain Celestial), B. Manischewitz Company, General Mills, Kellogg Company, Cargill, Inc., Nestlé S.A., H.J. Heinz Company, Conagra Brands Inc., Archer Daniels Midland Company (ADM), Dean Foods, Avebe,JACK’S GOURMET LLC, Sally Williams Fine Foods, KJ Poultry Processing, Quality Frozen Foods Inc., Orthodox Union (OU), OK Kosher Certification, Star-K Kosher Certification, “KOF-K” Kosher Supervision (KOF-K), KLBD Kosher Certification.
This post was originally published on Analytics News