Global Tempeh Market Size To Worth USD 8.85 Billion By 2033 | CAGR Of 5.44%
Category: Food & BeveragesGlobal Tempeh Market Size To Worth USD 8.85 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Tempeh Market Size is to Grow from USD 5.21 Billion in 2023 to USD 8.85 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.44% during the projected period.
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Browse key industry insights spread across 231 pages with 110 Market data tables and figures & charts from the report on the "Global Tempeh Market Size, Share, and COVID-19 Impact Analysis, By Type (Frozen, Fresh, and Ready-to-Eat), By Source (Soya Beans, Multi-Grain, and Others), By Distribution Channel (Foodservice and Retail) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." https://www.sphericalinsights.com/reports/tempeh-market
Tempeh is made by soybean fermentation by using the fungus Rhizopus oligosporus. It is a product of fermented soy cake that can be consumed with regular meals or as a snack. It is widely utilized in vegetarian cuisines worldwide and has a high nutritional content. In addition, tempeh is high in iron, calcium, phosphorus, magnesium, fiber, protein, and other minerals. It also has high levels of vitamins B2, B6, B3, and B5. The most well-liked and accessible product on the market is tempeh, which also works as the greatest alternative to meat and products made from meat. The global vegan population is growing, which supports the growth of the tempeh industry. Because of its natural flavor and firm texture, tempeh is regarded as a better option than soy blocks. It has long been known that tempeh makes an ideal substitute for meat and other foods originating from animals. Furthermore, the high costs of tempeh, as well as the availability of tempeh alternatives such as tofu, are projected to impede the target market's growth.
The fresh segment is expected to hold the largest market share of the tempeh market during the projected timeframe.
Based on the type, the tempeh market is divided into frozen, fresh, and ready-to-eat. Among these, the fresh segment is expected to hold the largest market share of the tempeh market during the projected timeframe. This dominance is driven by consumers' frequent belief that fresh tempeh is healthier due to its minimal processing and lack of preservatives. This viewpoint aligns with the broader movement towards natural foods and clean eating. Fresh tempeh retains more of its natural nutrients than processed or preserved tempeh.
The soya beans segment holds the highest market share of the tempeh market during the projected timeframe.
Based on the source, the tempeh market is divided into soya beans, multi-grain, and others. Among these, the soya beans segment holds the highest market share of the tempeh market during the projected timeframe. Soya beans tempeh is a superb vegan source of minerals, B-12 vitamins, dietary fiber, and protein. As a result, tempeh is a great option for getting essential nutrients from plant sources. Furthermore, the fermentation process used to make tempeh produces beneficial microbes that balance gut health and improve nutrient absorption, hence promoting gut health and digestion.
The foodservice segment is anticipated to grow at the highest CAGR of the tempeh market during the projected timeframe.
Based on the distribution channel, the tempeh market is divided into foodservice and retail. Among these, the foodservice segment is anticipated to grow at the highest CAGR of the tempeh market during the projected timeframe. Food service channels usually offer additional services such as customized orders, flexible delivery times, and logistical support. This customized solution can assist food service firms in fulfilling specific needs and streamlining operations. Dealers and wholesalers are among the food service outlets that handle bulk purchases.
Asia Pacific is expected to hold the largest share of the tempeh market over the forecast period.
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Asia Pacific is expected to hold the largest share of the tempeh market over the forecast period. The United States, Canada, Japan, India, and China are the countries that produce and eat the most tempeh, which accounts for their supremacy. Strong personal preferences for soy-based products and widespread health concerns are expected to drive growth in the Asia-Pacific area. With the growing popularity of plant-based diets and sustainable eating, tempeh is a vital source of protein for people looking to replace meat in their diets. This trend is particularly prevalent among the younger generations and the metropolitan inhabitants of the region.
North America is predicted to grow at the fastest pace in the tempeh market during the projected timeframe. The popularity of plant-based diets and vegetarianism has led to a rise in interest in tempeh as a flexible and healthful meat substitute. As the diversity of North America's food industry grows, so does curiosity about international cuisines. Tempeh, a meal that originated in Indonesia, is an instance of this broader interest in foreign cuisine.
Major vendors in the Tempeh Market are Tootie’s Tempeh, Byron Bay Tempeh, Margaret River Tempeh, Mighty Bean Sunshine Coast, Nutrisoy Pty Ltd, Turtle Island Foods, Inc., Plant Power, Maple Leaf Foods Inc., Primasoy, Lalibela Farm Tempeh, Organic Village Food, Gwen Tempeh, Tempeh Temple, Henry’s Tempeh, SBC Tempeh Manufacturers and others.
Recent Developments
- In January 2024, Better Nature responded to the growing demand for flexible and healthful meatless options with the launch of a Smoky Tempeh for Veganuary. This unique tempeh variety is seasoned with smoked salt and is created from whole soybeans that have spontaneously been fermented. It works well for baking or pan-frying. Better Nature already offers Organic Tempeh and Tempeh Pieces in Mediterranean, BBQ, and Curry flavors. The Smoky Tempeh adds even more variety to its offerings.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the tempeh market based on the below-mentioned segments:
Global Tempeh Market, By Type
- Frozen
- Fresh
- Ready-to-Eat
Global Tempeh Market, By Source
- Soya Beans
- Multi-grain
- Others
Global Tempeh Market, By Distribution Channel
- Foodservice
- Retail
- Others
Global Tempeh Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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