Tofu Market by Product and Geography - Forecast and Analysis 2020-2024

Published: Nov 2020 Pages: 120 SKU: IRTNTR45354

The tofu market has the potential to grow by USD 140.37 million during 2020-2024, and the market’s growth momentum will accelerate at a CAGR of 3.17%.

This tofu market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The rising adoption of the vegan lifestyle is notably driving the tofu market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the tofu market industry get your FREE report sample now.

This report provides extensive insights on segmentation by product (processed and unprocessed) and Geography (APAC, North America, Europe, South America, and MEA). The tofu market report also offers information on several market vendors, including Arla Foods amba, Bel Group, Danone SA, Dean Foods Co., House Foods Group Inc., Kikkoman Corp., The Hain Celestial Group Inc., The Tofurky Co. Inc., Valsoia Spa, and Vitasoy International Holdings Ltd. among others.

What will the Tofu Market Size be in 2020?

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Tofu Market: Key Drivers and Trends

  • The rising adoption of the vegan lifestyle is one of the key factors driving the tofu market growth.
  • Vegan diets are gaining popularity due to the growing concern towards animal rights and the environment. Tofu has increasingly gained acceptance over the years particularly as a vegetarian and vegan approved source of protein.
  • Vegan diet is being preferred as according to studies meat-based food poses significant threats by increasing the risk of cancer. Also, excess protein consumption from a meat-based diet can damage kidneys. 
  • The launch of new products is one of the key tofu market trends.
  • There was an increase in the demand for soy-based foods such as tofu due to their functional advantages.
  • To attract health-conscious consumers, tofu manufacturing companies are introducing several tofu products.
  • Nasoya Foods USA, a subsidiary of Pulmuone, recently introduced three tofu products, namely Organic Sprouted Super Firm Vacuum Packed Tofu, Organic Extra Firm Tofu Twin Pack, and Organic Tofu Vegetable Dumplings. Additionally, well-established restaurant chains such as McDonald’s are focusing on including tofu dishes in their offerings.

This tofu market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on market drivers, trends, and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Tofu Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Arla Foods amba
  • Bel Group
  • Danone SA
  • Dean Foods Co.
  • House Foods Group Inc.
  • Kikkoman Corp.
  • The Hain Celestial Group Inc.
  • The Tofurky Co. Inc.
  • Valsoia Spa
  • Vitasoy International Holdings Ltd.

 

The tofu market is fragmented and the vendors are deploying growth strategies such as product differentiation to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

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.

Download a free sample of the tofu market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Tofu Market?

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47% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for tofu in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The rising demand for nutritional diet and increasing disposable income will facilitate the tofu market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Product Segments in the Tofu Market?

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The tofu market share growth by the processed segment will be significant during the forecast period owing to factors such as the higher shelf life and the larger preference for meat substitutes in countries such as the US. Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the tofu market size.

 

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What are the Key Factors Covered in this Tofu Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive tofu market growth during the next five years
  • Precise estimation of the tofu market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the tofu 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 tofu market vendors

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Tofu Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2020-2024

$ 140.37 million

Market structure

Fragmented

YoY growth (%)

1.46

Regional analysis

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

Performing market contribution

APAC at 47%

Key consumer countries

US, China, Japan, Germany, South Korea (Republic of Korea), and Canada

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Arla Foods amba, Bel Group, Danone SA, Dean Foods Co., House Foods Group Inc., Kikkoman Corp., The Hain Celestial Group Inc., The Tofurky Co. Inc., Valsoia Spa, and Vitasoy International Holdings Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact 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.

Executive Summary

    Market Landscape

    • Market ecosystem
    • Market Characteristics
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2019
    • Market outlook: Forecast for 2019 - 2024

    Five Forces Analysis

    • Five Forces Summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Processed - Market size and forecast 2019-2024
    • Unprocessed - Market size and forecast 2019-2024
    • Market opportunity by Product

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2019-2024
      • North America - Market size and forecast 2019-2024
      • Europe - Market size and forecast 2019-2024
      • South America - Market size and forecast 2019-2024
      • MEA - Market size and forecast 2019-2024
      • Key leading countries
      • Market opportunity by geography
      • Market drivers – Demand led growth
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Competitive Scenario
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Arla Foods amba
      • Bel Group
      • Danone SA
      • Dean Foods Co.
      • House Foods Group Inc.
      • Kikkoman Corp.
      • The Hain Celestial Group Inc.
      • The Tofurky Co. Inc.
      • Valsoia Spa
      • Vitasoy International Holdings Ltd.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • 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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      • Parent market analysis
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      • Detailed vendors report with competitive landscape
      • Covid-19 impact and recovery analysis
      • Data on revenue-generating market segments
      • Details on the market shares of various regions
      • Five-force market analysis