Global Tempeh Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028

The Tempeh Market report has been segmented as per product type, form, source, sales channel, and region.

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Tempeh Market: Overview

“The Tempeh Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Tempeh is produced from the fermentation of soybean and using the special fungus Rhizopus oligosporus. It is a type of fermented soy cake product and can be consumed as a snack or with rice in everyday meals. It contains a high nutritional value and is mainly used in several vegetarian cuisines across the globe. In addition, the tempeh contains high levels of various vitamins such as B2, B6, B3, and B5 and it is a high source of phosphorus, magnesium, fiber, calcium, iron, protein, and others. Tempeh is most popular across the globe and easily available in the market and also it is the best alternative for meat-based products and meat.

Tempeh Market: Dynamics

Increasing demand for tempeh in developed and developing countries due to several benefits associated with it such as building a stronger immune system, increasing antibodies, reducing sugar, regulating appetite, decreasing cholesterol levels, improving muscle growth, and others.

This is a key factor projected to drive the growth of the global market during the forecast period.

In addition, increasing consumption of tempeh among health-conscious individuals and rising availability of tempeh in various distribution channels including hypermarkets or supermarkets, e-commerce, convenience stores, and others across the globe.

These are major factors forecasted to support the growth of the target market over the forecast period.

Growing demand for ready-to-eat tempeh among individuals due to busy lifestyles and the rising number working for population across the globe resulting in increasing demand for tempeh across the globe are other factors expected to proliferate the growth of the global market.

In addition, rising lactose intolerance among individuals and an increasing vegan population across the globe resulting in the growing demand for tempeh are among other factors projected to boost the growth of the target market.

Furthermore, high focus to provide healthier food products across the globe by major tempeh manufacturers and increasing tempeh selling through e-commerce platforms across the globe are other factors expected to propel the growth of the global tempeh market in the upcoming years.

However, the high cost associated with tempeh and the availability of tempeh alternative like tofu is major factors projected to restrain growth of the target market.

Tempeh Market: Segment Analysis

Rapid consumption of organic tempeh across the globe due to rising health awareness among individuals is the primary factor driving revenue growth of the organic tempeh segment among the form segments.

Among the sales channel, the supermarkets or hypermarkets segment is forecasted to register a significant share in the global tempeh market, owing to various facilities provided by supermarkets or hypermarkets such as competitive pricing, easy shopping, product discounts, and product comparison and visibility under one roof, and others.

Tempeh Market: Region Analysis

The Asia Pacific tempeh market is projected to dominate in terms of revenue in the global market followed by the market in North America, owing to high tempeh production and consumption in the countries such as Japan, India, China, US, and Canada in these regions.

In addition, high preference for Soy-based products among individuals and high concern about health is projected to drive the growth of the Asia Pacific and North American markets.

The market in the Middle East & Africa, Europe, and Latin America is expected to witness moderate growth in terms of revenue, owing to raising awareness about various health benefits associated with tempeh among consumers in many countries in these regions.

Tempeh Market Segmentation:

Segmentation by Product Type:

• Fresh
• Frozen
• Ready-to-eat

Segmentation by Form:

• Conventional Tempeh
• Organic Tempeh

Segmentation by Source:

• Multi-grain
• Soybean

Segmentation by Sales Channel:

• Supermarkets or Hypermarkets
• Food and Drink Specialty Stores
• Convenience Stores
• E-commerce

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa