Israel: Food Processing Ingredients
Link to report:
With over 1,800 facilities, the Israeli food processing sector is an important player in the domestic economy. In 2019, Israeli food processors' annual revenue stood at $18.6 billion while the beverage and tobacco industry's annual revenue was $2.47 billion. The sector currently represents over 17.5 percent of the total manufacturing industry's revenue and employs over 63,000 workers. With limited land and resources, as well as a growing population, the ingredients demanded by the Israeli food processing sector represent an excellent opportunity for U.S. exporters of food ingredients. In 2020, Israel imported $2.91 billion in raw food products for the food processing industry. The COVID-19 pandemic has shaken the Israeli economy and it is unclear how quickly it will recover. According to Israel’s Central Bank, Israel’s real GDP contracted by 2.4 percent in 2020, less severe than had been previously forecasted.
