The tempeh market share is expected to increase by USD 896.90 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.11%.
This tempeh market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers tempeh market segmentation by product (fresh tempeh and frozen tempeh) and geography (APAC, North America, Europe, South America, and MEA). The tempeh market report also offers information on several market vendors, including Club Cultured, FZ Organic Food, Lalibela Farm, Maple Leaf Foods Inc., Mighty Bean Tempeh, Noffoods, Nutrisoy Pty Ltd, Primasoy, The Future Food Team, and The Tofurky Co. Inc. among others.
What will the Tempeh Market Size be During the Forecast Period?
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Tempeh Market: Key Drivers, Trends, and Challenges
The growing awareness about the health benefits of tempeh is notably driving the tempeh market growth, although factors such as the rising popularity of other substitute and protein-based products may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the tempeh industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Tempeh Market Driver
The growing awareness about the health benefits of tempeh is one of the key drivers supporting the tempeh market growth. Soy-based products such as tempeh and tofu have been gaining traction in various countries across the world because of their health benefits. It is recognized as excellent plant-based protein food, which contains nearly 0.56 ounces of protein per 3-ounce serving. These proteins help in gaining muscle mass supports neurological functions, balances hormones, and maintain an upbeat mood. Meanwhile, soy isoflavones in tempeh help prevent cancer by reducing estrogen synthesis and shifting metabolism from gene-damaging metabolites to inactive metabolites. Thus, the rapidly rising demand for functional foods among health-conscious consumers in the world has been instrumental in driving the growth of the global tempeh market.
Key Tempeh Market Trend
The rising urbanization and demand for convenience products is another factor supporting the tempeh market growth. The growing urbanization indicates that there is a rise in the disposable income of consumers, and their living standards have improved. Hectic lifestyles have resulted in deteriorating health conditions and lifestyle disorders, owing to unhealthy eating habits. The working population seeks high protein and nutrition-based fast foods made from organic and gluten-free ingredients that are convenient and can be consumed on the go or as per convenience. Tempeh, being both gluten-free and rich in protein, makes an ideal choice for this. Thus, such factors have led to the increase in the sales of tempeh worldwide.
Key Tempeh Market Challenge
The rising popularity of other substitute and protein-based products is hampering the tempeh market growth. Over the last decade, the growing popularity of substitute products such as miso, mushrooms, and others has posed a significant challenge to the growth of the global tempeh market. Also, the growing demand for organic plant-based proteins and meat alternatives such as textured vegetable protein (TVP), jackfruit, eggplants, beets, and legumes has impacted the consumption volumes of tempeh in many countries across the world. The rising demand for products made from buckwheat, quinoa, flax, chia, and other superfoods is expected to hinder the growth of the global tempeh market during the forecast period.
This tempeh market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the tempeh market growth as a part of the global packaged food market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the tempeh market during the forecast period.
Who are the Major Tempeh Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Club Cultured
- FZ Organic Food
- Lalibela Farm
- Maple Leaf Foods Inc.
- Mighty Bean Tempeh
- Noffoods
- Nutrisoy Pty Ltd
- Primasoy
- The Future Food Team
- The Tofurky Co. Inc.
This statistical study of the tempeh market encompasses successful business strategies deployed by the key vendors. The tempeh market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Club Cultured - The company offers Organic Soy Tempeh which has been cultured using traditional tempeh making techniques that produce a naturally meaty, mild mushroom and nutty flavored fresh white block of Tempeh.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The tempeh market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Tempeh Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the tempeh market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the packaged food market includes the following core components:
- Inputs
- Inbound logistics
- Primary processing
- Outbound logistics
- Secondary and tertiary processing
- Outbound logistics
- End-customers
- Marketing and sales
- Services
- Innovations
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Tempeh Market?
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86% of the market’s growth will originate from APAC during the forecast period. Indonesia and China are the key markets for the tempeh market in APAC. Market growth in this region will be slower than the growth of the market in other regions.
The increasing volume of imports of soybeans by Asian countries and the growing awareness about the health benefits of tempeh among consumers will facilitate the tempeh market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 hamperedâ¯theâ¯businessesâ¯ofâ¯vendors,â¯as various governmentsâ¯across the world imposed nationwide lockdowns and travel restrictions to prevent the spread of the disease.⯠However, in 2021, with rapid vaccination drivesâ¯and partial lockdown norms, the supply of raw materials resumed, which helped the regional market to regain sufficient growth. This trend is expected to continue during the forecast period.
What are the Revenue-generating Product Segments in the Tempeh Market?
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The tempeh market share growth by the fresh tempeh segment will be significant during the forecast period. Fresh tempeh products have a shorter shelf life in comparison with frozen tempeh products. These products are generally available in the unpasteurized form. Also, it has a superior taste and texture as compared with the frozen variety. The growing awareness among consumers about the health benefits of fresh tempeh and the increasing number of restaurants, food distributors, and retail outlets in the world that offer fresh tempeh products. These are the major drivers that are estimated to impact the growth of the global tempeh market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the tempeh market size and actionable market insights on post COVID-19 impact on each segment.
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Tempeh Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.11% |
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Market growth 2021-2025 |
$ 896.90 million |
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Market structure |
Fragmented |
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YoY growth (%) |
4.43 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 86% |
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Key consumer countries |
Indonesia, US, The Netherlands, China, and Canada |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Club Cultured, FZ Organic Food, Lalibela Farm, Maple Leaf Foods Inc., Mighty Bean Tempeh, Noffoods, Nutrisoy Pty Ltd, Primasoy, The Future Food Team, and The Tofurky Co. Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Tempeh Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive tempeh market growth during the next five years
- Precise estimation of the tempeh market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the tempeh industry across APAC, North America, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of tempeh market vendors
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