Global Tempeh Market Insights Forecasts to 2033

• The Global Tempeh Market  Size was Valued at USD 5.21 Billion in 2023
• The Market Size is Growing at a CAGR of 5.44% from 2023 to 2033
• The Worldwide Tempeh Market  Size is Expected to Reach USD 8.85 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Tempeh Market Size is Anticipated to Exceed USD 8.85 Billion by 2033, Growing at a CAGR of 5.44% from 2023 to 2033.

Market Overview

Tempeh is a fermented soybean-based cuisine originating in Indonesia thousands of years ago. A high-protein dish called tempeh is created from fermented, partially cooked soybeans. Tempeh is made from soybeans through a natural culturing process combined with controlled fermentation, resulting in a cake-like texture. The fermentation process uses a fungus called Rhizopus oligosporus, often referred to as tempeh starter. Tempeh's fermentation process makes it simpler to digest. Its anti-inflammatory qualities, which support gut health and the digestive system, come from its high prebiotic content. In addition, tempeh is a rich source of iron, calcium, phosphorus, magnesium, fiber, protein, and other minerals. It also has high concentrations of vitamins B2, B6, B3, and B5. The most well-liked and accessible food on the market, tempeh is also an excellent alternative to meat and products made from meat. The growing plant-based industry and growing public awareness of the difficulties associated with meat production have led to an increase in the popularity of vegan and flexitarian diets. A rising number of people who follow a vegan diet are using tempeh, which is strong in protein and calcium, as a meat alternative.

For Instance, according to the Vegan and Plant-Based Diet Statistics report for 2021, over 500,000 people registered for Vegan in 2021, a 25% rise from the previous year. As a result, the growing popularity and demand for the vegans drive the tempeh market.

The global market for tempeh is anticipated to develop in the upcoming years due to the leading tempeh businesses' strong focus on offering healthier food products worldwide and rising tempeh sales via e-commerce platforms.

Report Coverage

This research report categorizes the market for the tempeh market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the tempeh market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the tempeh market.

Driving Factors

The world's expanding vegan population contributes to the tempeh market's expansion. Tempeh is considered to be a superior alternative to soy blocks because of its natural flavor and non-soft texture. Tempeh has long been recognized as an effective replacement for meat and other animal-derived products. The health benefits of tempeh include boosting immunity, increasing antibodies, lowering blood sugar, regulating hunger, lowering cholesterol, and improving muscular growth. Therefore, it is gaining popularity in both developed and developing nations.

Restraining Factors

The availability of tempeh substitutes, including tofu, and the high cost of tempeh are two important factors that are anticipated to restrict the desired tempeh market's growth.

Market Segmentation

The tempeh market share is classified into type, source, and distribution channel.

• The fresh segment is expected to hold the largest market share through the forecast period.

Based on the type, the tempeh market is categorized into frozen, fresh, and ready-to-eat. Among these, the fresh segment is expected to hold the largest market share through the forecast period. Fresh tempeh is minimally processed and due to a lack of preservatives consumers frequently believe that it is healthier. This perspective is consistent with the larger trend towards natural foods and clean eating. When tempeh is fresh, it has more of its natural nutrients than when it is processed or retained.

• The soya beans segment holds the highest market share through the forecast period.

Based on the source, the tempeh market is categorized into soya beans, multi-grain, and others. Among these, the soya beans segment holds the highest market share through the forecast period. Soybeans Tempeh is a great VEGAN source of minerals, B-12 vitamins, dietary fiber, and protein. Due to this, tempeh is a perfect choice for obtaining necessary nutrients from plant-based sources. Furthermore, the fermentation process used to make tempeh produces advantageous microorganisms that balance gut health and enhance nutrient absorption, supporting gut health and improving digestion.

• The foodservice segment is anticipated to grow at the highest CAGR during the forecast period.

Based on the distribution channel, the tempeh market is categorized into foodservice and retail. Among these, the foodservice segment is anticipated to grow at the highest CAGR during the forecast period. Foodservice channels frequently include extra offerings such as customized orders, flexible delivery schedules, and logistical support. Food service companies may meet specific needs and streamline operations with the help of this customized solution. Foodservice outlets that handle bulk purchases include dealers and wholesalers.

Regional Segment Analysis of the Tempeh Market   

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the tempeh market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the tempeh market over the predicted timeframe. This dominance is due to the fact that these nations Japan, India, China, the United States, and Canada produce and consume a lot of tempeh. High health concerns and strong individual preferences for soy-based products are also anticipated to fuel expansion in the Asia-Pacific region. Tempeh is a valuable source of protein to individuals seeking meat substitutes, as interest in plant-based diets and sustainable eating grows. Younger generations and the region's urban populations are especially prone to this trend.

North America is expected to grow at the fastest CAGR growth in the tempeh market during the forecast period. There is an increase in interest in tempeh as a healthy and adaptable meat alternative due to the popularity of plant-based diets and vegetarianism. Curiosity regarding world cuisines is expanding as North America's food market becomes more diverse.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the tempeh market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Tootie’s Tempeh
• Byron Bay Tempeh
• Margaret River Tempeh
• Mighty Bean Sunshine Coast
• Nutrisoy Pty Ltd.
• Turtle Island Foods, Inc.
• Maple Leaf Foods Inc.
• Primasoy
• Lalibela Farm Tempeh
• Organic Village Food
• Gwen Tempeh
• Tempeh Temple
• Henry’s Tempeh
• SBC Tempeh Manufacturers
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In March 2024, Greenleaf Foods, the SPC owner of prominent plant-based brands Lightlife and Field Roast and a wholly-owned subsidiary of Maple Leaf Foods Inc., revealed that Lightlife Tempeh, the one tempeh brand in the United States and Canada, would be offered in a new format Tempeh Protein Crumbles. As customer demand for healthy, clean protein solutions rises, the plant-based protein pioneers. Lightlife Tempeh Protein Crumbles are offered in two flavours: original and smoked chipotle. The original variety is gently seasoned with salt, pepper, and garlic. The Smoked Chipotle version is seasoned with a robust blend of roasted peppers, providing just the proper amount of heat.

• In February 2024, The Dutch enterprises Schouten Europe and Agrifirm declared their partnership to explore the potential of utilising Dutch soybeans and fava beans for the production of tempeh.

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