According to a new report, published by KBV research, The Global Tempeh Market size is expected to reach $9.5 billion by 2031, rising at a market growth of 8.9% CAGR during the forecast period.
Meal kit companies include tempeh in their product offerings, allowing consumers to prepare plant-based meals at home conveniently. Tempeh’s inclusion in meal kits reflects its growing popularity as a versatile ingredient. Subscription-based meal delivery services increasingly offer tempeh-based meals, which meet a growing need for plant-based and health-conscious culinary options delivered to consumers' doorsteps.
The Foodservice segment is registering a CAGR of 8.2 % during the forecast period. Tempeh’s versatility allows it to be used in various dishes, from salads and stir-fries to sandwiches and bowls. This versatility appeals to foodservice establishments looking to offer diverse and innovative menu options.
The Soya Beans segment led the Global Tempeh Market by Source in 2023; thereby, achieving a market value of $4.3 Billion by 2031. Soybeans are a high-quality protein source, containing all essential amino acids. Tempeh made from soybeans provides a complete protein profile, making it a valuable option for vegetarians and vegans.
The Fresh segment is growing at a CAGR of 8.4 % during the forecast period. Fresh tempeh typically retains more of its natural nutrients. It contains higher levels of protein, vitamins, and minerals, which appeal to health-conscious consumers looking for the most nutritious options. Fresh tempeh offers a superior flavor and texture compared to its processed counterparts.
Full Report: https://www.kbvresearch.com/tempeh-market/
The North America region dominated the Global Tempeh Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2.6 Billion by 2031. The Asia Pacific region is anticipated to grow at a CAGR of 9.3% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 8.4% during (2024 - 2031).
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