“Global Tempeh Market to reach a market value of USD 9.5 Billion by 2031 growing at a CAGR of 8.9%”
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.
North American consumers are increasingly adopting plant-based diets due to health, nutrition, and weight management concerns. Tempeh, a high-protein, plant-based food, aligns with these dietary trends and meets the demand for healthier alternatives. Consequently, the North American region would acquire nearly, 30% of the total market share by 2031.
Consumers are becoming more health-conscious, seeking foods that offer nutritional benefits without the negative health impacts associated with some animal-based proteins, such as high cholesterol and saturated fats. The environmental footprint of animal agriculture, including greenhouse gas emissions, deforestation, and water usage, has driven consumers to seek more sustainable dietary options. Thus, the rising demand for plant-based protein drives the market's growth.
Additionally, the rise of Asian fusion restaurants and the popularity of traditional Asian dining experiences have highlighted this snack as a key ingredient in various dishes. Television shows, online cooking channels, and celebrity chefs often feature Asian recipes and ingredients, including this snack. Therefore, growing global appreciation of diverse Asian cuisines drives the market's growth.
However, many consumers are unaware of what this snack is, its nutritional benefits, and how to prepare it. This lack of knowledge can lead to hesitation in trying or purchasing this snack. Many = brands do not have the marketing budgets of larger, more established food companies, resulting in lower visibility in the market. In conclusion, limited consumer awareness and familiarity with this snack impede the market's growth.
By distribution channel, the market is divided into foodservice and retail. The retail segment held 30% revenue share in the market in 2023. The availability of this snack in supermarkets, health food stores, and online retail platforms provides consumers with easy access to this product.
Based on source, the market is divided into soya beans, multi-grain, and others. The multi-grain segment attained 39% revenue share in the market in 2023. Multi-grain tempeh combines various grains and seeds, such as barley, millet, and quinoa, with soybeans or other legumes. This blend improves the nutritional profile by offering a broader selection of antioxidants, minerals, and vitamins.
On the basis of type, the market is segmented into fresh, frozen, and ready-to-eat. In 2023, the frozen segment attained 35% revenue share in the market. Frozen tempeh has a significantly longer shelf life compared to fresh tempeh. This extended shelf life reduces waste and allows consumers to keep this snack on hand for longer, adding convenience to meal planning.
Free Valuable Insights: Global Tempeh Market size to reach USD 9.5 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region witnessed 39%revenue share in the market in 2023. This snack has deep roots in Indonesian cuisine, where it originated. It is a traditional food item in Indonesia and other Southeast Asian countries, contributing to its widespread acceptance and demand in the region. The familiarity and traditional use of this snack in various Asian cuisines make it a staple food.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 4.9 Billion |
| Market size forecast in 2031 | USD 9.5 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 8.9% from 2024 to 2031 |
| Number of Pages | 221 |
| Number of Tables | 439 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Source, Type, Distribution Channel, Region |
| Country scope |
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| Companies Included | Byron Bay Tempeh, Tootie’s Tempeh, Nutrisoy Pty Ltd, Maple leaf foods, Inc., Primasoy, Noble Bean Tempeh, Tempeh Meades, Rhapsody Natural Foods and Vegolution India private limited |
By Distribution Channel
By Source
By Geography
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