According to Inkwood Research, the Global Kosher Food
Market is projected to register a CAGR of 4.16% in terms of revenue during the
forecast period, 2019-2028.
“Browse 35
Market Data Tables and 52 Figures spread over 155 Pages, along with an in-depth
TOC on the Global
Kosher Food Market Forecast 2019-2028.”
Kosher foods are
those food products that fulfill the Jewish community’s dietary regulations of
kashrut (dietary law) for the food. They are said to be derived from Leviticus
and Deuteronomy. Kashrut entails a set of laws (dietary) that are fixed for
food consumption and preparation. The law is impartial and encompasses both
non-vegetarian and vegetarian food types. The categories of birds, animals, and
fish that meet the regulatory standards of the law are called kosher, and
others that do not meet are forbidden.
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Growing Health-Conscious Consumers Propel Market Growth
There has been a
steady rise in the number of consumers who are increasingly adopting a healthy lifestyle.
The consumers are opting for healthy and natural food products that have less
amount of fat or sugar, along with reduced carb content. This shifting trend
has resulted in increased demands for dairy-free products, vegan products,
Halal, Kosher, meat alternatives, and gluten-free products. Hence, the rising
fitness-conscious population spread across the globe are potential consumers
for kosher food. The suppliers target such consumers, leading to a rise in
demands and sales of the product. As of now, the awareness and penetration are
evaluated to be low, but targeted marketing strategies are projected to acquire
a vast consumer base.
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Meat fared Major Revenue Share to the Global Market in 2019
The meat
production, aided by slaughterhouses, is on the rise. Moreover, the
availability of kosher meat products in several distribution channels is one of
the major factors propelling the growth of the kosher food product. This is
because there is increasing consumption of kosher food by the non-Jewish
population. Further, various private label suppliers are targeting leading
market players for the growth of their business.
North America is set to dominate the Global Market by 2028
The Jewish
population in the US constitutes around 2.5% of the total population. At the
same time, the consumption of kosher food by the non-Jewish population is on
the rise, thereby impacting the market growth of the region. The increased
consumption is attributed to the awareness of the health benefits of kosher
food. Also, many market players are making innovations and inventions in terms
of food and tastes, providing consumers with new food products to satisfy their
taste buds.
The competitive
rivalry in the market is estimated to be high. The competition between offline
and online companies is projected to be high. The bargaining power of buyers is
evaluated to be moderate with low-product differentiation and high switching
costs. Some of the eminent players present in the market are Conagra Brands, Nestle, Empire Kosher Poultry
Inc, Bob's Red Mill, Dean Foods, etc.
About
Inkwood Research
Inkwood Research specializes in syndicated
& customized research reports and consulting services. Market intelligence
studies with relevant fact-based research are customized across industry
verticals such as technology, automotive, chemicals, materials, healthcare, and
energy, with an objective comprehension that acknowledges the business
environments. Our geographical analysis comprises of North & South America,
CEE, CIS, Middle East, Europe, Asia, and Africa.
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