Tempeh is a traditional Indonesian soy-based food product made from fermented soybeans. It has gained popularity in recent years as a nutritious and versatile plant-based protein source, especially among vegetarians and vegans. The Tempeh market has been witnessing steady growth due to the rising demand for plant-based protein alternatives and increased awareness about its health benefits.
As per the tempeh market survey report released by FMI, The overall value of the total sales of tempeh in 2022 was found to be US$ 4.7 Billion. The global tempeh market is expected to reach a market valuation of US$ 8.7 Billion by the end of this forecast period in 2032, accelerating with a CAGR of 6.4% by 2022 to 2032.
The fermented and functional food market is a primary driver of the tempeh market’s growth. The increased health consciousness among customers is reflected in a large number of product introductions in the functional food business. Probiotics are one of the key goods that are propelling the business forward.
Empower your business strategy with our comprehensive PDF report on the Tempeh Market. Gain a strategic advantage and drive success in this lucrative industry! https://www.futuremarketinsights.com/reports/sample/rep-gb-3283
Furthermore, consumers are always on the lookout for newer and better products on the market that will help them balance their healthy lifestyles while still satisfying their decadent desires. Tempeh straddles a number of intersecting trends, including the quest for ethically sourced food, traditional foods, probiotics, and savoury foods.
In terms of probiotic product introductions, Asia Pacific is the most active region, with China, South Korea, and Australia leading the way. Due to the explosive growth of its sister area, fermented vegan drinks, the tempeh industry is likely to rise in lockstep.
Key Takeaways from Market Study
- The market is segmented based on source, wherein the soybean is anticipated to account for a significant share in the global market in 2022 and is expected to witness a lucrative growth rate of 6.3% during the forecast period
- The Asia Pacific tempeh market is anticipated to dominate the global market with a market share of around 77.2% in 2022, but South Asia is expected to witness a lucrative growth rate during the forecast period
- On the basis of distribution channel, the direct channel is expected to hold a dominating share in 2022, but the online retail store is expected to witness a lucrative growth rate over the forecast period
- Based on product type, fresh tempeh is dominating the global market in 2022
“Increasing number of consumers are opting for meat substitutes and vegan products, and this trend is paving way for newer varieties of soy food products in the market. Consumer awareness regarding meat substitutes especially soy food products is said to increase at an exponential rate over the forecast period.” said a lead analyst at FMI.
Calling all Fortified Yeast enthusiasts! Take your knowledge to the next level. Purchase now and gain exclusive access to in-depth segment information! https://www.futuremarketinsights.com/checkout/3283
Consumption of Plant-based Foods is Becoming Increasingly Mainstream
Since many people find it difficult to completely eliminate meat from their diets, flexitarianism is considered a more feasible dietary transition than becoming vegan or vegetarian. Flexitarians are vegetarians who derive their protein from sustainable sources like plant-based meals rather than meat.
This trend is backed by a slew of food behemoths, who are all rooting for the all-meat alternative products industry to develop, including tempeh. With the use of new food technology, manufacturers are also attempting to create plant-based food products with meat-like texture and taste. This shows how strong the desire for plant-based meat alternatives is among consumers.
Who is winning?
Some of the leading companies offering tempeh are Turtle Island Foods, Inc., Nutrisoy Pty Ltd, Mighty Bean Tempeh Sunshine Coast, Totally Tempeh, Byron Bay Tempeh, Margaret River Tempeh, Organic Village Food, Gwen Tempeh, Tempeh Temple, Primasoy, SBC Tempeh Manufacturers, Lalibela Farm Tempeh, Alive & Healing Inc., Henry’s Tempeh, Rhapsody Natural Foods, TOFU Manufaktur Nagel GmbH, Impulse Tempeh, Schouten Europe B.V., Natural Oriental Fresh Foods BV, Tempea Natural Foods Ltd., and Others.
Join the conversation on the Tempeh Market! Our analyst is ready to share their expertise and answer your burning questions. Don’t miss this opportunity to expand your industry insights! https://www.futuremarketinsights.com/ask-question/rep-gb-3283
Tempeh Market by Category
By Source:
- Soybean
- Multi-grain
- Others
By Nature:
- Organic
- Conventional
By Flavor, Tempeh Market is Segmented as:
- Plain
- Herbs & Spices
By Product Type:
- Frozen
- Fresh
- Ready-to-eat
By Distribution Channel:
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Convenience Stores
- Food & Drink Specialty Stores
- Traditional Groceries
- Online Retailers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle east and Africa
About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse Other Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs