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.
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.
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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.
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.
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