Market Research Report
Global Kosher Food Market - 2021-2028
|Global Kosher Food Market - 2021-2028|
Published: November 16, 2021
Content info: 180 Pages
Delivery time: 2 business days
Kosher or kashrut is a set of dietary laws governing Jewish life. Foods that are in accordance with these laws are known as kosher food. Numerous foods, dishes, and beverages still possess an extreme significance in various religions. The demand for kosher-certified products has increased vigorously and is one of the newest food trends. Additionally, in order to meet the growing demand for kosher foods, various supermarkets and food companies all over the world are providing a wide variety of kosher-based products such as juices, pastas, cereals, breads, and others. The global Kosher Food market valued USD XX million in 2020 and is forecasted to reach USD XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028). However, the threat from other alcoholic beverages, like wine, is one of the major hindering factors to the Kosher Food market.
In today's world, people are becoming health conscious. As such, there is a rising demand for healthy and allergen-free food products, which is considered to be the major factor that is driving the growth for certified kosher food products. Moreover, rising demand for high-quality natural food products that are also provides gluten-free diet is further anticipated to drive the demand for kosher foods, and in turn the growth of the market.
The growing proclivity of ethically sourced and locally sourced ingredients is a key trend propelling the demand for kosher food. New consumer segments continue to repose trust in the authenticity of kosher food, as they look for personalization in food production. They also consider kosher certification as a symbol of quality. Rise in popularity of kosher food and ingredients among vegan consumers can be attributed to the fact that they are assured of the absence of any meat ingredients.
However, Kosher food is not easily available everywhere. Lack of professional chefs, who can cook kosher food, making its availability limited to urban areas is expected to hamper the market growth. Additionally, the preparation of kosher food products is also complex and tricky, which makes people disinterested in the food, citing difficulty in preparation. Moreover, in October 2020, European countries like Sweden, Belgium, Norway, Iceland, Denmark, Greece and Slovenia have banned ritual slaughter like Halal and Kosher.
Based on food source, pareve is expected to grow at a lucrative rate of XX% over the forecast period. Pareve type are neither meat nor dairy. They are vegetables, grains, eggs, fish, pasta, unprocessed juices, soft drinks, tea and coffee. These have larger share as these are consumed with both meat & dairy and can be easily cooked as compared to meat.
Based on distribution channel, the supermarkets & hypermarket segment held the major share in 2020, garnering nearly three-fifths of the global kosher food market. Increase in retail sales channel penetration in developing markets and availability of various brands of kosher certified products are the factors that drive the growth of the segment. The supermarket has major share in this segment as urban and semi urban population prefer them owing to ease in availability and better comparison between products. Simultaneously, the online segment would register the fastest CAGR of XX% throughout the forecast period. This is owing to rise in Internet penetration across the globe. Sales through online retailers has seen a rise due to available discounts and easy delivery
Europe region has a dominating market share in terms of revenue due to increasing demand for kosher foods and health consciousness among the population. In Italy the kosher world is experiencing a favorable rise. A thriving market is developing especially in Milan, due to the historical presence of the Jewish community and due to the new trends in the gastronomic field. The growing demand for Italian Food throughout the world, combined with the increase in kosher certified foods, constitutes a great opportunity for Italian agri-food companies to outbreak and establish themselves in foreign markets. France has the highest percentage of professing Jews and the presence of 1/3 of kosher restaurants in all of Europe.
The North American market is forecasted to witness considerable growth rate over the period owing to the rise in health issues and lactose intolerance among patients. The center of the world's kosher food sector is the US. For while only 2% of Americans are Jewish, some 7.5 million people, a study by the Quartz business news website found that 41% of all packaged food in the US is certified kosher. Asia-Pacific market is also anticipated to grow at a significant rate as the awareness about kosher foods is increasing in the region. Kosher Foods market in Asia Pacific is expected to grow with a CARG of XX%, owing to rise in demand for different types of kosher food and food items made by kashrut law.
The kosher foods market is fragmented with the presence of many small players in the industry globally. Companies are increasing their product line and product mix for catering to consumer's demand. Nestle has launched its breakfast cereals with various flavors including chocolate and honey to attract more customers. Cargill has launched Diamond Crystal Fine Kosher Salt for foodservice operators to improve the taste of fried foods and seasonings. Top players have been successfully leveraging the popularity of kosher food year after year. A key trend being leveraged by them is fueling the significance religious views of food packaging. Those food companies who want to stay ahead of the curve are putting focusing on nanotechnology. The OU, based in the United States with supervision operations around the globe, certifies about 610 factories in China as kosher, with their exports going worldwide - primarily to the US.
As consumers became more health conscious during the pandemic, the demand for kosher foods has increased. However, the kosher food industry has become victim of the economic impact of the COVID-19 outbreak after massive production lines in China were put on hold due to its position at the epicenter of the global pandemic. Kosher factories are located across China, and they make a variety of food products. Although the pandemic does not seem to have greatly affected Passover shipments, it has decreased business in general.
The global kosher food market report would provide an access to approximately 45 market data tables, 45 figures and 180 pages.