Israel: Food Processing Ingredients
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With over 1,800 facilities, the Israeli food processing sector is an important player in the domestic economy. In 2020, Israeli food processors' annual revenue stood at $19.26 billion while the beverage and tobacco industry's annual revenue was $2.42 billion. The sector currently represents over 19.1 percent of the total manufacturing industry's revenue and employs over 61,000 workers. With limited land and resources and a growing population, demand for ingredients by the Israeli food processing sector represent an excellent opportunity for U.S. exporters of food ingredients. In 2021, Israel imported $3.54 billion in raw food products for the food processing industry. For the first time since the start of the COVID-19 crisis, Israel’s GDP level crossed the pre-crisis trend. According to Israel’s Central Bank, real GDP grew by 8.1 percent in 2021, beyond the forecast growth, and per capita GDP grew by 6.3 percent.
