Tempeh Market Surges at over 6% CAGR between 2019 and 2026
The global tempeh market has expanded considerably since 2013-2018, as a result of increasing demand for healthy food and a better substitute for meat. The tempeh market size was valued at US$ 3,842.8 Mn in 2019. Future Market Insights, a leading market research company projects that the tempeh market will show a steady growth at 6.1% CAGR in terms of value in the forecast period of 2019-2026.
Frequently asked questions about the global tempeh market
What are the prospects for tempeh products based on the source?
In the present scenario, the soybean-based tempeh segment holds the major share in the market. Though it is estimated that in the upcoming years, multi-grain based tempeh will show a higher growth as compared to the former due to its high protein content.
Which product type segment offers the most profitable growth opportunities for the market players?
Tempeh is protein enriched food material and is one of the best meat substitutes. In the product type segment, the fresh tempeh has very high demand as compared to other segments such as frozen, and ready-to-eat products.
What is the degree of competition in the tempeh market?
The global tempeh market is identified as highly organized in developed and developing economies. Key manufacturers operating in the global tempeh market are concentrating on product launches and expanding their footprints by collaborating with regional distributors/suppliers to increase their customer base.
Which region will lead the global sales of tempeh-products?
APAC remains the major shareholder in the tempeh market. However, North America is projected to show higher growth.
Which factors are driving the tempeh market?
Tempeh market is driven by factors such as the increasing demand for meat substitutes and rising vegan/flexitarian population. Apart from these factors, the increasing demand for functional food is fueling the demand for tempeh.
Which trend will drive the tempeh market in the upcoming period?
Flexitarian diet implies hybrid of flexible vegetarianism and include people whose protein consumption is reliant on sustainable sources such as plant-derived food products and considerably reducing the intake of flesh/meat in their food. This inclination is aided by many food giants who mutually support the growth of the all-meat alternatives market, even tempeh.
Soybean-based Tempeh Holds Dominant Share
In terms of source the tempeh market is segmented into soybean, multigrain, and others. Of these, the demand for soybean-based tempeh is significantly increasing, catapulting the segment to the fore. While soybean-based tempeh holds dominance, the multigrain-based segment is likely to show optimistic growth in the coming years. Increasing vegan & vegetarian population is a key factor enabling growth in the soy-based tempeh segment. Apart from this, demand for soybean based tempeh is on the rise due to their high protein content.
Developed Countries Present Remarkable Growth Opportunities
APAC is expected to hold the leading share that is 77.5% in the global tempeh market in terms of value. Besides this, the market will witness considerably high demand in North America. The demand for tempeh is considerably high in North America, which is unlikely to subside in the forthcoming years. As a result of the expanding flexitarian/ vegan population, the demand for tempeh is poised to surge in North America. The market in Latin America, leg by Brazil, also exhibits high demand for tempeh.
* This data is only a representation. Actual data may vary and will be available in report.
Adoption of Innovative Strategies - a Key Trend among Market Players
The global tempeh market is primarily characterized by the presence of a large number of local companies. A large volume of tempeh is manufactured in Indonesia wherein mostly small & medium enterprises are operating. Other companies operating in this business are based in North America, Europe, and Australia. Many of these companies are startups and constitute a minority share in the global market. An increasing number of start-up companies are emerging globally, especially in Canada and Australia, where soybean farmers are adopting innovative strategies to promote the consumption of tempeh.
Soybean-based tempeh holds leading share
Multi-grain based segment to show optimistic CAGR
Organic is expected to show a higher CAGR
Conventional to remain at the top in nature segment
Demand for Plain is on the rise
Herbs & Spices to see a high demand
How Growth will Unfold
Plant-based foods are one of the best sources of protein and other vital nutrients that are required to maintain a healthy lifestyle. Rising concerns about animals are fuelling the demand for meat alternatives such as tempeh and tofu. These meat substitutes are mostly derived from the plants. Apart from this, high meat consumption leads to various diseases, which in turn is increasing the demand for plant-based alternatives.
Plant-based food has positive effects on metabolism. The increase in awareness about the risks of meat and consumers’ inclination for a better living are drivers of the tempeh market. Plant-based food, especially meat-free substitutes are preferred by athletes and the younger generation, mainly due to their high protein and calcium content. These plant-based products improve diabetes and have been related to minimizing the risk of diabetes mellitus type 2.
Spurred by aforementioned scenario, the tempeh market is likely to witness high demand for all key product types. These include frozen tempeh, fresh tempeh, and ready-to-eat tempeh.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Tempeh Market: Global Industry Analysis 2013-2018 & Opportunity Assessment 2019-2026
A recent market study published by Future Market Insights on the tempeh market offers global industry analysis for 2013-2018 & opportunity assessment for 2019-2026. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters of the tempeh market, the growth prospects of the market are obtained with maximum precision.
Tempeh Market Taxonomy
The global tempeh market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Herbs & Spice
- Convenience Stores
- Food & Drink Specialty Stores
- Traditional Groceries
- Online Retailers
- North America
- Latin America
The executive summary of the tempeh market includes the market proprietary wheel of fortune, demand-side and supply-side trends, opportunity assessment, and recommendations on the global tempeh market.
Readers can find the detailed segmentation and definition of the tempeh market in this chapter, which will help them understand basic information about the tempeh market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the tempeh market report.
The associated industry assessment of the tempeh market is carried out in this section. The macroeconomic factors affecting growth of the tempeh market are provided in this section and the impact of these macroeconomic indicators on the tempeh market is analyzed. The processing overview and technological advancements in the tempeh market is also provided.
Profit margins at each level of the tempeh market are analyzed and readers can find detailed information on top importers and exporters as well as the value chain of the tempeh market.
The drivers and restraints impacting the growth of the tempeh market are explained in this chapter. Opportunities and ongoing trends in the tempeh market are also comprehensively discussed.
This chapter includes detailed analysis of the historical tempeh market (2013-2018), along with an opportunity analysis for the forecast period (2019-2026). Readers can also find the absolute $ opportunity for the current year (2019-2020) and incremental opportunity for the forecast period (2019-2026).
Based on source, the tempeh market is segmented into soybean, multigrain, and others. In this chapter, readers can find information about key trends and developments in the tempeh market and market attractiveness analysis based on raw material.
Based on Nature, the tempeh market is classified into organic and conventional. This part also offers market attractiveness analysis based on Nature.
Tempeh market is also analysed on the availability of different flavours and is categorized into plain, herbs & spices. This chapter provides the market analysis on the basis of tempeh flavors.
This chapter provides details about the tempeh market on the basis of flavors, and has been classified into plain, herbs & spices. In this chapter, readers can understand market attractive analysis based on Product Type.
Based on Distribution Channel, the tempeh market is studied on the basis of Direct and Indirect Distribution Channel. In this part, readers can understand market analysis based on the various Distribution Channel.
This chapter explains how the tempeh market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, East Asia, APAC and the Middle East and Africa.
This chapter includes a detailed analysis of the growth of the tempeh market in North America, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on end users and countries in the North America region.
Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the tempeh market in Latin America. This chapter also includes growth prospects of the tempeh market in leading LATAM countries such as Brazil, Mexico, and the Rest of Latin America.
Important growth prospects of the tempeh market based on its end users in several countries such as Germany, U.K., France, Italy, Spain, BENELUX, Nordic, and the Rest of Western Europe are included in this chapter.
This chapter includes a detailed analysis of the growth of the tempeh market in the APAC region, along with a country-wise assessment that includes, India, China, Japan, ASEAN, Australia, New Zealand and Rest of APAC. Readers can also find regional trends, regulations, and market growth based on end users and countries in the APAC region.
This chapter offers insights into how the tempeh market is expected to grow in major countries in the MEA region such as GCC Countries, South Africa, and the Rest of MEA, during the forecast period 2019-2026.
In this chapter, readers can find detailed information about tier analysis and market concentration of the key players in the tempeh market along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of leading manufacturers in the tempeh market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Turtle Island Foods, Inc., Nutrisoy Pty Ltd, Mighty Bean Tempeh Sunshine Coast, Totally Tempeh, Byron Bay Tempeh, Margaret River Tempeh, Organic Village Food, Gwen Tempeh, Tempeh Temple, Primasoy, SBC Tempeh Manufacturers, Lalibela Farm Tempeh, Alive & Healing Inc., Henry’s Tempeh, Rhapsody Natural Foods, TOFU Manufaktur Nagel GmbH, Impulse Tempeh, Schouten Europe B.V., Natural Oriental Fresh Foods BV, and others.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the tempeh report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the tempeh market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
- Distributors Heads
- Sales Executives
- Product Manufacturers
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity Of Assumptions
- Industry Publications
- Industrial Week
- Industrial Product Review
- Industrial Magazine
- Industry Associations
- Dieticians Association
- Food and Agriculture Organization
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits