The kosher foods market size is projected to be valued at US$ 42.64 Bn in 2023 and is expected to rise to US$ 78.55 Bn by 2033. The sales of kosher foods are expected to grow at a significant CAGR of 6.3% during the forecast period.
One of the main factors fueling the market’s expansion is the growing prevalence of lactose intolerance among the general population. Gluten, dairy, and other food intolerance patients can greatly benefit from kosher cuisine.
A significant driver of market expansion is the rise in non-Jewish consumers’ demand for kosher food products. Kosher ingredients are being used more frequently by food makers to create bakery and confectionery goods, as well as savory snacks.
To give their clientele a special and genuine experience, quick service restaurants (QSRs), motels, and cafes are also experimenting with premium kosher-certified products.
The market is expected to develop as a result of a number of other reasons, such as increasing health consciousness among the general population and rising demand for vegan food items.
Request Sample Report and Drive Impactful Decisions: https://www.futuremarketinsights.com/reports/sample/rep-gb-16147
Key Takeaways from the Kosher Foods
- Asia Pacific will emerge as the most lucrative region and would be contributing a share of USD 7.4Bn by 2027 due to the rising demand for various types of kosher food and food products manufactured in accordance with kashrut legislation.
- The pareve market is predominantly driven by concentrations of Jews in particular regions of the world along with growing demand for vegan food. All these factors would lead to a revenue share of USD 35.3Bn by 2033.
- The kosher community is growing favorably in Germany, with a growth rate of over 4.0%. Due to the historical presence of the Jewish population and the emerging gastronomic preferences
- U.S. kosher food market would generate around USD 9.6 Bn in 2020 due to a rise in per-capita income and the high penetration rate of the internet across the region.
- China Witnessed the highest growth rate of 9.7% among all regions due to rising demand for various types of kosher food and food products manufactured in accordance with kashrut legislation.
- Online would concurrently experience the fastest CAGR of 6.1% over the course of the predicted period. This is due to a growth in Internet usage around the world.
Competitive Landscape
The kosher food business is fragmented due to the existence of numerous little players on a global scale. To meet consumer demand, businesses are expanding their product lines and product mix. To entice more customers, Nestle SA has introduced a variety of flavors for its breakfast cereals, including chocolate and honey. For food service operators, Cargill has introduced Diamond Crystal Fine Kosher Salt to enhance the flavor of fried dishes and seasonings. Year after year, elite players have been profitably utilising the popularity of kosher food. They are promoting the significance of religious perspectives on food packaging as a crucial trend. Companies in the food industry who want to keep on top of developments are concentrating on nanotechnology.
For instance, the acquisition of Global Trust Certification Limited, a seafood certification business with its headquarters in Ireland, was announced by NSF Certification Ireland Limited in January 2021, an NSF subsidiary. Global Trust offers certification, auditing, and inspection services to clients all around the world.
Some of the Key Players Operating in Kosher Foods Market Include
- Archer Daniels Midland Company
- BASF SE
- Blommer Chocolate Company
- Brooklyn Cookie Company LLC
- Eden Foods, Inc.
- Ice Chips Candy, LLC
- Nestle SA
Comments
0 comment