According to a new report published by Prudent Markets titled, “Kosher Food Market by Product Type,and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019–2026," the global kosher food market size was valued at $19.1 billion in 2018, and is projected to reach $25.6billion by 2026, growing at a CAGR of 3.7% from 2019 to 2026. In 2018, North America accounted for nearly 40% share of the kosher food market.

The growth in value sales for vegan food and clean label products is attributed to surge in demand for different kosher food, which facilitate better alternative for synthetic products. Thus, increase in willingness of customers for different types of natural ingredients in food & beverages and also the production of food with kashrut law is expected to fuel the demand for kosher food.

The foodindustry has been evolving in terms of innovations and demand. Manufacturers are focusing on key innovations that cater to the requirements of their target consumers who are demanding kosher certification for food items. Increase in awareness toward health and wellness has been witnessed among people residing in the developed as well as the developing countries.This has resulted in increased demand for various types of special kosher food made using organic products.Thus, kosher foodare gainingincreased traction among food &beverage manufacturers, which significantly drives the growth of the global market.

Kosher foodhave witnessed higher rate of penetration in North America and Europe. However, low availability has been observed for this product in some major parts of Asia-Pacific and LAMEA, which is attributed to low performing macro-economic factors such as internet penetration and aggressive marketing strategies by the manufacturers. Thus, lower penetration of such products limits the growth of the kosher food market in some of the underdeveloped regions.

There has been an increase in number of users in various social media sites with rise in internet penetration. Considering this, most of the key players in the kosher food market strategize on promoting their products on these social media platforms. Thus, through social media marketing strategy, the kosher food market sights critical opportunity in gaining traction.

According to Aniket Kadam, Senior Research Analyst, Food and Beverages at Prudent Markets, “Over the years, general awareness among consumers about the availability of kosher certified products has increased exponentially. They are now aware of the side effects of synthetic ingredients used in food, andusing kosher ingredients as an alternative for artificial ingredients.Consumers today are shifting toward newer food styles, and kosher is merging as a new trend in the food industry, which is not only limited to Jewish community but is been accepted by the consumers of all religions.”.

Key Findings of the Study

• Depending on product type, the meat products segmentgarnered 33.1% of kosher foodmarket share in 2018, and is expected to growat a CAGR of 2.4% from 2019 to 2026. 

• The snacks and savory segment was valued at $3.1billion and is expected to reach $4.6billion by 2026, registering a highest CAGR of 5.1%. 

• In 2018, bydistribution channel, the supermarkets and hypermarketsegment accounted for 59.5% share of the kosher foodmarket, and is expected to grow at the CAGR of 3.3%. 

• The online stores segment accounted was valued at $1.9billion and is expected to reach $3.0billion by 2026, registering a highest CAGR of 6.1%.

• Region wise, North America accounted for a prominent market share in 2018, and is anticipated to grow at a CAGR of 3.4% throughout the forecast period.

The key players operating in the global kosher food market include Empire Kosher Poultry, Inc., Unilever, General Mills (Yoplait), Cargill, Nestle, Conagra Brands, Dean Foods, PepsiCo Beverage & Foods (Tropicana), The Hain Celestial Group, and Bob's Red Mill.

Market Research link: https://www.prudentmarkets.com/report/kosher-food-market/503/