New research from Absolute Reports has revealed that the global kosher food market will be maintaining an annual average growth rate of 13.09% by 2017-2021.
So what’s driving the ever-expanding kosher market? Urbanization, the population shift from rural areas to cities and towns where more kosher goods are sold (and it’s easier to satisfy that 2 a.m. bagel craving) is definitely a factor. The growing trendiness of kosher food might be another explanation. Lifestyle changes were cited in the study as another reason.
Some of the market’s biggest challenges are intense competition from halal foods. There’s a distinct overlap between kosher and halal foods, and kosher food companies are feeling the heat.
Some key kosher vendors driving the market include ADM, Kedem Food Products, Manischewitz, Nestlé and Eden Foods, and they’re using a mixture of corporate wheeling-and-dealing, mergers and acquisitions, and research and development to cement their places at the top of the food pantheon.
So all hail the future, which is looking more kosher all the time.