International

Global kosher food market to reach $24,148 million in 2017

Kosher

The global kosher food market is expected to grow from 24,148 million dollars in 2017 to almost 60,000 million dollars by 2025, at Compound Annual Growth Rate (CAGR) of 11.6%, according to Persistence Market Research's report.

Posted on Sep 26 ,10:27

Global kosher food market to reach $24,148 million in 2017

 

Analysts at PMR explain that the kosher food market's growth is mainly due to the increasing awareness about the dietary quality and ethical reasons.

Furthermore, according to PMR the fastest growth for the global kosher food market will be located in the Middle East & Africa (MEA), where sales of kosher food will reach 24,805 million dollars by the end of 2025.

"In addition, North America is expected to follow MEA in terms of market share, expanding at 11.3% CAGR through 2025. In contrast, Asia Pacific will hold the lowest share of the market during the forecast period," according to the Persistence Market Research's press release distributed on SBWire.

Although pareve will continue to be the preferred raw material for kosher food, sales on this segment reaching 15,000 million dollars in 2017, according to the PMR forecast, in terms of revenue, process meat & poultry is projected to be the second largest segment of the kosher food market by 2025. Still, seafood application of kosher food will exhibit a comparatively low CAGR in the market.

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