Global kosher food market to reflect CAGR growth of 11.6%
The global market for kosher food will witness an impressive growth of 11.6% CAGR over the forecast period, 2017-2025.
Growing preference for healthy and quality certified food has revved up demand for kosher food products. In addition, consumers prefer visiting a hotel or a restaurant on special occasions for kosher certified food products.
As customers are turning towards vegetarian food attributed to various health related benefits, demand for kosher food is likely to witness an upsurge in the upcoming years. Growing Jewish and Christian population will further impact growth of the global kosher food market positively. Additionally, patients suffering from coeliac disorders, and are intolerant towards consumption of lactose is likely to fuel growth of the global kosher food market. Manufacturers kosher food are mainly focusing on offering certified food products that are gluten-free as many consumers are intolerant towards consumption of gluten and lactose. Such factors are likely to contribute towards growth of the global kosher food market significantly.
Moreover, demand for kosher food mainly propagates from ‘Kosher Fest’, which is tagged as the most prominent trade show offering kosher certified products. Kosher food products offered by manufacturers in this trade show is certified according to kosher laws. Such factors will impact growth of the global market for kosher food positively during the predicted years.
On the other hand, weak infrastructure of supply chain, absence of integrating kosher standards in the products, and disintegrated supply chain of kosher products are likely to inhibit growth of the global kosher food market.
Pareve among other raw materials will represent the most preferred raw material for kosher food products. In terms of sales, this segment will reach a value of US$ 15,000 Mn in 2017. Dairy products used as raw materials for kosher food will register the second highest CAGR, and will represent the second most profitable segment in the global kosher food market by 2025-end. Snack food will reflect the highest CAGR, and will continue to lead the market throughout 2025. Process meat & poultry among other applications will represent the second largest segment in the global market for kosher food during the predicted years. On the other hand, seafood among other applications will reflect a relatively low CAGR growth in the global kosher food market by the end of 2025.
MEA among other regions will register relatively fast growth in the global kosher food market. This region will represent the largest market for kosher food during the predicted years. In terms of sales, kosher food will account for $US 24,805 Mn revenues by 2025-end. North America will register a CAGR growth of 11.3% during the predicted years. On the other hand, Asia Pacific will account for the lowest share of the overall market by the end of 2025.