Market Overview:
The market for kosher food is poised to grow at a value-based CAGR of 10.0%, with revenue expected to increase from US$ 47,240.2 MN to around US$ 123,073.9 MN by 2033. Kosher Food Market adheres to the dietary laws of kashrut, rooted in the Hebrew Bible. These laws dictate what foods are permissible, their preparation, and combinations. While primarily consumed by Jewish people, it is gaining popularity among non-Jewish consumers seeking healthy and ethical food choices.
Market Details:
- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2032
- Categories: Product Type, Application, End-user, Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Drivers:
- Increasing demand for healthy and ethical food options
- Growing awareness of the benefits of kosher food
- Rising disposable incomes
- Increasing urbanization
- Growing popularity of ethnic cuisines
- Expanding distribution channels
Kosher Food Market Insights:
The Kosher food market is projected to grow at a 3.7% CAGR from 2021 to 2028, reaching an estimated value of USD 25.54 billion by 2028. This growth is driven by the rising demand for ethically and locally sourced ingredients in kosher food products. Kosher certification, adhering to Jewish dietary laws (kashrut), covers a wide range of products like pasta, bread, cereals, and juices, appealing to both Jewish and non-Jewish consumers globally.
Factors Driving Market Growth:
- Rising Demand for Healthy and Ethical Food
- Increasing Awareness of Benefits
- Growing Disposable Incomes
- Urbanizations Impact
- Growing Popularity of Ethnic Cuisines
- Expanded Distribution
Major Challenge:
Intense competition from halal foods poses a significant challenge. While both halal and kosher foods follow religious guidelines for animal slaughter and consumption, halal enjoys wider global popularity due to the larger Muslim population. This poses a challenge for the kosher food market, particularly in regions like APAC and MEA.
The kosher food market is adapting to evolving trends, including plant-based kosher food, functional products, kosher snacks, meal kits, and food delivery services. These trends are expected to drive innovation and further market growth.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2032 – By Product Type, Application, End-user, and Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa): https://www.persistencemarketresearch.com/market-research/kosher-food-market.asp
The kosher food market is segmented by product type, application, and region.
By product type:
- Meat and poultry
- Dairy products
- Fish and seafood
- Fruits and vegetables
- Grains and legumes
- Processed foods
- Packaged goods
By application:
- Retail
- Foodservice
- Institutional
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North America is the largest market for kosher food, followed by Europe. Asia Pacific is the fastest-growing market for kosher food. This is due to the growing affluence and urbanization in the region, as well as the increasing awareness of the benefits of kosher food.
Mergers & Acquisitions in the Kosher Food Market:
The kosher food market has seen a surge in mergers and acquisitions (M&A) activities driven by several key factors:
- Consolidation: The market is highly fragmented, with numerous small and medium-sized companies. M&A deals enable larger companies to consolidate market share and achieve economies of scale.
- Innovation: M&A transactions provide access to new technologies and products, fostering innovation and the development of novel kosher food items.
- Expansion: Companies use M&A as a means to enter new markets and reach a broader customer base.
- Vertical Integration: M&A deals allow companies to vertically integrate their operations, enhancing efficiency and cost reduction.
Recent M&A Deals in the Kosher Food Market:
- In 2022, Hain Celestial Group acquired Rudis Organic Bakery for US$820 million, a leading producer of organic bread, bagels, and tortillas popular among kosher consumers.
- In 2021, Kraft Heinz acquired Primal Kitchen for US$200 million, a prominent producer of organic and paleo-friendly condiments, favored by kosher consumers.
- In 2020, General Mills acquired Annies Inc. for US$820 million, a leading producer of organic and natural food products with kosher appeal.
- In 2019, Kellogg Company acquired RXBAR for US$600 million, a leading producer of protein bars well-received by kosher consumers.
- In 2018, PepsiCo acquired Bare Foods for US$900 million, a leading producer of fruit snacks also embraced by kosher consumers.
These M&A deals reflect the increasing demand for kosher food and the ongoing consolidation of the market. M&A is expected to remain a significant force in the kosher food market in the coming years.
Companies Likely to Be Involved in Future M&A Deals in the Kosher Food Market:
- Nestle
- Unilever
- Kraft Heinz
- General Mills
- PepsiCo
- Coca-Cola
- Danone
- Mondelez International
- Kellogg Company
- Mars, Incorporated
These companies possess the financial resources and market influence to engage in substantial acquisitions within the kosher food market. They are also likely to be interested in acquiring firms that can help them expand their product portfolios, develop innovative kosher products, and access new customer segments.
Key Highlights:
- Market Size Estimates: Evaluation of market size in terms of value and sales volume from 2018-2028.
- Market Trends and Dynamics: Insight into the drivers, opportunities, challenges, and risks in the Kosher Food market.
- Impact of Macro-economy and Regional Conflict: Examination of global inflation and the Russia-Ukraine conflict on the Kosher Food market.
- Segment Market Analysis: Assessment of market value and sales volume by type and application from 2018-2028.
- Regional Market Analysis: Overview of market situations and prospects in North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa.
- Country-level Studies: Examination of revenue and sales volume in major countries within each region.
- Competitive Landscape: Analysis of 10-15 leading market players, including sales, pricing, revenue, gross margin, product profile, and applications.
- Trade Flow: Examination of import and export volumes of the Kosher Food market in major regions.
- Value Chain: Insights into the raw materials, suppliers, manufacturing process, distributors, and downstream customers in the Kosher Food industry.
- Industry News, Policies & Regulations: Updates on relevant news, policies, and regulations in the Kosher Food industry.
Latest Developments:
- June 2020 saw Fuji Oil Holdings and its subsidiary Bloomer Chocolate Company introduce initiatives to enhance cocoa sustainability.
- In April 2021, Bobs Red Mill extended its product range into snacking with the launch of Oat Crackers.
- July 2023 marked a collaboration between Cargill Incorporated and John Deere, aiming to streamline the digital and in-field experiences for farmers using John Deere technology and participating in the Cargill Regen Connect program.
Why Purchase a Kosher Food Market Research Report?
- Comprehensive Market Understanding: A Kosher Food Market research report offers a thorough overview of the market, encompassing size, growth rate, key trends, and major players. This information empowers informed business decisions.
- Identify New Opportunities: Such a report helps you spot emerging market opportunities, from new product categories to untapped markets, facilitating business expansion and customer outreach.
- Competitor Analysis: Understand your competitors, their strengths, weaknesses, and market share. This insight aids in developing competitive strategies and setting your business apart.
- Informed Investments: Make well-informed investment choices, whether its in new products, technologies, or markets. Reduce risks and optimize return on investment.
- Stay Current with Trends: The kosher food market evolves continuously. Stay up-to-date on the latest trends by accessing the most current data and insights through a Kosher Food Market research report.
Additional Benefits of Purchasing a Kosher Food Market Research Report:
- Time and Resource Savings: Conducting independent market research can be time-consuming and costly. A research report offers ready-to-use information, saving time and resources.
- Expert Insights: Experts with in-depth market knowledge, ensuring the accuracy and reliability of the information, author Research reports.
- Data-Driven Decisions: These reports are founded on data and evidence, enabling data-driven decision-making for business success.
Conclusion:
The global kosher food market is expected to continue to grow in the coming years, driven by a number of factors, including increasing demand for healthy and ethical food options, growing awareness of the benefits of kosher food, rising disposable incomes, increasing urbanization, growing popularity of ethnic cuisines, and expanding distribution channels.
About Persistence Market Research:
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