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The kosher beef market is expected to grow at notable CAGR of 3.7% during 2021-2027 period to reach USD 251.83 billion by 2025. The rising demand for kosher beef in key regions like United States, and Europe are likely to drive growth. The rising population of Jewish people in the United States also remains a positive driver for growth in the United States. For example, in 2020, the Jewish population grew to 1,043,800, rising from 7,153,800, growing at 2.6% from the previous year. Moreover, people of Jewish heritage also make up a notable percentage in states, making up 2.2% of total population, according to the Jewish virtual library. The positive growth of the Jewish population has led to widespread awareness of Jewish traditions, and subsequently, growing availability of products like kosher beef in key countries like the United States.
European Region Remains a Strong Avenue for Growth during the Forecast Period
The demand for kosher beef meat is on the rise in Europe. According to Jewish News Syndicate, the demand for kosher beef has risen by more than 20% in England alone. Apart from upcoming Jewish holidays, Jewish people also increasingly prefer to store meat for long-term. Moreover, the closure of the largest kosher slaughterhouse like Agriprocessors in Postville in United States has left a massive void in the manufacturing of kosher beef. Some legal hurdles at Agriprocessors, and fire at third-largest plant in the US located in Minnesotta has brought kosher beef production to a complete halt. The rising demand for consumers across Europe, and shortage of kosher beef supply remains a promising opportunity for growth for new players in the kosher beef market during the 2021-2027 period.
Rising Certifications of Kosher Beef in Branding Promises New Avenues for Growth
Many brands have expanded product portfolios to include kosher beef variants, thanks to increased ease of obtaining certified angus beef, with increasing support from organizations like Orthodox Union. Recently, new companies like Golden West Food Group, based in California introduced Glatt Kosher Beef. Moreover, in 2016, Migrator, a Russian firm became the first company outside North America to certify angus beef, with legal classification, and certification of beef marbling. This follows a trend globally to introduce kosher beef products, and launch even non-conventional variants like bacon-in-kosher variety with redesigned processing. Furthermore, rising demand for vegan food with healthier alternatives from conventional slaughterhouses also remains a major driver of growth for players in the kosher beef market.
Coronavirus Pandemic Remains a Key Challenge for Supply Chains
According to a statement released by the EMIH-Hungarian Jewish Association, Jewish communities across Europe are facing a difficult crisis, along with large population in England, and France. The rising issues with supply chain, and growing scrutiny of meat during the coronavirus pandemic remains a major restraint for growth of the kosher beef market. The Jewish association also noted that the community is recruiting its complete manpower to instil the highest protective measures to tackle worldwide shortage of kosher beef products.
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