Tempeh Market by Product and Geography - Forecast and Analysis 2021-2025

Published: Jan 2022 Pages: 120 SKU: IRTNTR72039

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 hampered the businesses of vendors, as various governments across the world imposed nationwide lockdowns and travel restrictions to prevent the spread of the disease.  However, in 2021, with rapid vaccination drives 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.

 

Tempeh Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.11%

Market growth 2021-2025

$ 896.90 million

Market structure

Fragmented

YoY growth (%)

4.43

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 86%

Key consumer countries

Indonesia, US, The Netherlands, China, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

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.

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

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.

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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

We can help! Our analysts can customize this report to meet your requirements. Get in touch

***1. Executive Summary                           

                **1.1 Market Overview

                                *Exhibit 01:  Key Finding 1

                                *Exhibit 02:  Key Finding 2

                                *Exhibit 03:  Key Finding 3

                                *Exhibit 04:  Key Finding 5

                                *Exhibit 05:  Key Finding 6

                                *Exhibit 06:  Key Finding 7

                                *Exhibit 07:  Key Finding 8

***2. Market Landscape                             

                **2.1 Market ecosystem             

                                *Exhibit 08:  Parent market

                                *Exhibit 09:  Market characteristics

                **2.2 Value chain analysis           

                                *Exhibit 10:  Value chain analysis

                                *2.2.1 Input

                                *2.2.2 Inbound logistics

                                *2.2.3 Primary processing

                                *2.2.4 Secondary and tertiary processing

                                *2.2.5 Outbound logistics

                                *2.2.6 End-customers

                                *2.2.7 Marketing and sales

                                *2.2.8 Services

                                *2.2.9 Innovations

***3. Market Sizing                       

                **3.1 Market definition

                                *Exhibit 11:  Offerings of vendors included in the market definition

                **3.2 Market segment analysis 

                                *Exhibit 12:  Market segments

                **3.3 Market size 2020 

                **3.4 Market outlook: Forecast for 2020 - 2025 

                                *Exhibit 13:  Global - Market size and forecast 2020 - 2025 ($ million)

                                *Exhibit 14:  Global market: Year-over-year growth 2020 - 2025 (%)

***4. Five Forces Analysis                          

                **4.1 Five Forces Summary        

                                *Exhibit 15:  Five forces analysis 2020 & 2025

                **4.2 Bargaining power of buyers           

                                *Exhibit 16:  Bargaining power of buyers

                **4.3 Bargaining power of suppliers       

                                *Exhibit 17: Bargaining power of suppliers

                **4.4 Threat of new entrants    

                                *Exhibit 18:  Threat of new entrants

                **4.5 Threat of substitutes         

                                *Exhibit 19: Threat of substitutes

                **4.6 Threat of rivalry   

                                *Exhibit 20: Threat of rivalry

                **4.7 Market condition

                                *Exhibit 21:  Market condition - Five forces 2020

***5. Market Segmentation by Product               

                **5.1 Market segments

                                *The segments covered in this chapter are:

  • Fresh tempeh
  • Frozen tempeh

                                *Exhibit 22:  Product - Market share 2020-2025 (%)

                **5.2 Comparison by Product    

                                *Exhibit 23:  Comparison by Product

                **5.3 Fresh tempeh - Market size and forecast 2020-2025             

                                *Exhibit 24:  Fresh tempeh - Market size and forecast 2020-2025 ($ million)

                                *Exhibit 25:  Fresh tempeh - Year-over-year growth 2020-2025 (%)

                **5.4 Frozen tempeh - Market size and forecast 2020-2025          

                                *Exhibit 26:  Frozen tempeh - Market size and forecast 2020-2025 ($ million)

                                *Exhibit 27:  Frozen tempeh - Year-over-year growth 2020-2025 (%)

                **5.5 Market opportunity by Product    

                                *Exhibit 28:  Market opportunity by Product

***6. Customer landscape                         

                                *Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                **6.1 Overview

                                *Exhibit 29:  Customer landscape

***7. Geographic Landscape                     

                **7.1 Geographic segmentation

                                *The regions covered in the report are:

  • APAC
  • North America
  • Europe
  • South America
  • MEA

                                *Exhibit 30:  Market share by geography 2020-2025 (%)

                **7.2 Geographic comparison   

                                *Exhibit 31:  Geographic comparison

                **7.3 APAC - Market size and forecast 2020-2025              

                                *Exhibit 32:  APAC - Market size and forecast 2020-2025 ($ million)

                                *Exhibit 33:  APAC - Year-over-year growth 2020-2025 (%)

                **7.4 North America - Market size and forecast 2020-2025           

                                *Exhibit 34:  North America - Market size and forecast 2020-2025 ($ million)

                                *Exhibit 35:  North America - Year-over-year growth 2020-2025 (%)

                **7.5 Europe - Market size and forecast 2020-2025          

                                *Exhibit 36:  Europe - Market size and forecast 2020-2025 ($ million)

                                *Exhibit 37:  Europe - Year-over-year growth 2020-2025 (%)

                **7.6 South America - Market size and forecast 2020-2025           

                                *Exhibit 38:  South America - Market size and forecast 2020-2025 ($ million)

                                *Exhibit 39:  South America - Year-over-year growth 2020-2025 (%)

                **7.7 MEA - Market size and forecast 2020-2025               

                                *Exhibit 40:  MEA - Market size and forecast 2020-2025 ($ million)

                                *Exhibit 41:  MEA - Year-over-year growth 2020-2025 (%)

                **7.8 Key leading countries        

                                *Exhibit 42:  Key leading countries

                **7.9 Market opportunity by geography

                                *Exhibit 43:  Market opportunity by geography ($ million)

***8. Drivers, Challenges, and Trends                   

                **8.1 Market drivers     

                                *8.1.1 Growing awareness about the health benefits of tempeh

                                *8.1.2 Increasing number of organized retailing outlets offering tempeh products

                                *8.1.3 Rising consumption of plant-based meat alternatives and frozen meat substitutes

                **8.2 Market challenges              

                                *8.2.1 Rising popularity of other substitute and protein-based products

                                *8.2.2 Unsustainable practices in production process

                                *8.2.3    Side effects of excessive tempeh consumption

                                *Exhibit 44:  Impact of drivers and challenges

                **8.3 Market trends      

                                *8.3.1 Rising urbanization and demand for convenience products

                                *8.3.2 Growing number of food service chains and online stores

                                *8.3.3 Increasing lactose intolerance in world population

***9. Vendor Landscape                             

                **9.1 Competitive Scenario        

                **9.2 Overview

                                *Exhibit 45:  Vendor landscape

                **9.3 Landscape disruption        

                                *Exhibit 46:  Landscape disruption

                                *Exhibit 47:  Industry risks

***10. Vendor Analysis               

                **10.1 Vendors covered              

                                *Exhibit 48:  Vendors covered

                **10.2 Market positioning of vendors    

                                *Exhibit 49: Market positioning of vendors

                **10.3 Club Cultured     

                                *Exhibit 50:  Club Cultured - Overview

                                *Exhibit 51:  Club Cultured - Product and service

                                *Exhibit 52:  Club Cultured - Key offerings

                **10.4 FZ Organic Food

                                *Exhibit 53:  FZ Organic Food - Overview

                                *Exhibit 54:  FZ Organic Food - Product and service

                                *Exhibit 55:  FZ Organic Food - Key offerings

                **10.5 Lalibela Farm      

                                *Exhibit 56:  Lalibela Farm - Overview

                                *Exhibit 57:  Lalibela Farm - Product and service

                                *Exhibit 58:  Lalibela Farm - Key offerings

                **10.6 Maple Leaf Foods Inc.     

                                *Exhibit 59:  Maple Leaf Foods Inc. - Overview

                                *Exhibit 60:  Maple Leaf Foods Inc. - Business segments

                                *Exhibit 61:  Maple Leaf Foods Inc. - Key offerings

                                *Exhibit 62:  Maple Leaf Foods Inc. - Segment focus

                **10.7 Mighty Bean Tempeh     

                                *Exhibit 63:  Mighty Bean Tempeh - Overview

                                *Exhibit 64:  Mighty Bean Tempeh - Product and service

                                *Exhibit 65:  Mighty Bean Tempeh - Key offerings

                **10.8 Noffoods             

                                *Exhibit 66:  Noffoods  - Overview

                                *Exhibit 67:  Noffoods  - Product and service

                                *Exhibit 68:  Noffoods  - Key offerings

                **10.9 Nutrisoy Pty Ltd

                                *Exhibit 69:  Nutrisoy Pty Ltd - Overview

                                *Exhibit 70:  Nutrisoy Pty Ltd - Product and service

                                *Exhibit 71:  Nutrisoy Pty Ltd - Key offerings

                **10.10 Primasoy           

                                *Exhibit 72:  Primasoy  - Overview

                                *Exhibit 73:  Primasoy  - Product and service

                                *Exhibit 74:  Primasoy  - Key offerings

                **10.11 The Future Food Team 

                                *Exhibit 75:  The Future Food Team - Overview

                                *Exhibit 76:  The Future Food Team - Product and service

                                *Exhibit 77:  The Future Food Team - Key offerings

                **10.12 The Tofurky Co. Inc.      

                                *Exhibit 78:  The Tofurky Co. Inc. - Overview

                                *Exhibit 79:  The Tofurky Co. Inc. - Product and service

                                *Exhibit 80:  The Tofurky Co. Inc. - Key offerings

***11. Appendix                            

                **11.1 Scope of the report         

                                *11.1.1 Market definition

                                *11.1.2 Objectives

                                *11.1.3 Notes and caveats

                **11.2 Currency conversion rates for US$            

                                *Exhibit 81:  Currency conversion rates for US$

                **11.3 Research Methodology 

                                *Exhibit 82:  Research Methodology

                                *Exhibit 83:  Validation techniques employed for market sizing

                                *Exhibit 84:  Information sources

                **11.4 List of abbreviations        

                                *Exhibit 85:  List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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