The Global Tempeh Market size was estimated at USD 4.9 billion in 2021 and is expected to hit around USD 7.9 billion by 2031, poised to grow at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2031.
Global Tempeh Market: Breakup by Region, 2022 & 2031
Source: Primary Research and Secondary Research Analysis
The manufacturing, marketing, and consumption of tempeh, a fermented soybean product, are all part of the global sector known as the global tempeh market. Traditional Indonesian meal known as tempeh is produced from fermented soybeans that have been compressed into a cake-like shape. It is consumed not only in Indonesia but also in many other countries throughout the world as a popular source of plant-based protein.
First, sustainability has emerged as a major issue for all sectors of society. More customers are looking for products that were made ethically and with the environment in mind. This results in a rise in demand for environmentally friendly raw material sourcing, waste-reducing packaging technologies, and production methods with smaller carbon footprints on the worldwide market. Businesses having a competitive advantage are likely to align with these sustainability aims.
Second, the development of e-commerce and the digital revolution is still reshaping the world market. Online purchasing has become more popular as a result of the COVID-19 epidemic, and this tendency is here to stay. In order to appeal to the digitally sophisticated customer base, firms are actively investing in their online presence, user-friendly interfaces, and logistics.
Thirdly, wellness and health continue to be important. Consumers are looking for healthier food options and workout products as well-being awareness rises. The development of the health food and fitness sectors has been fueled by this trend, which has resulted in advances in product formulas and marketing techniques.
Last but not least, increased cross-cultural interchange has influenced consumer tastes and inclinations. In order to connect with a more diverse and international audience, businesses are increasingly incorporating diversity and multiculturalism into their marketing strategy.
First, the demand for tempeh has grown as people have become more aware of its health advantages. Tempeh is a desirable alternative for health-conscious consumers due to its high protein, probiotic, and nutritional content. Food firms have innovated and released new tempeh-based items, such as tempeh burgers, tempeh bacon, and tempeh snacks, in response to the increased customer interest in healthy eating.
Second, the market for tempeh has grown dramatically as a result of the rise in vegetarianism and plant-based diets. Due to its high protein content and adaptability in many recipes, tempeh is a great meat substitute for consumers who are limiting their meat intake for environmental and health reasons. As a result, the selection of tempeh products in both conventional supermarkets and traditional markets has increased.
Furthermore, worries about sustainability are significantly influencing the tempeh industry. Soybean and other components used to make tempeh are increasingly being sourced sustainably and ethically by both growers and consumers. To meet the rising demand for sustainable food options, businesses are placing an increased emphasis on open supply chains and environmentally friendly packaging.
Market Breakup: By Product Type
Market Breakup: By Distribution Channel
Market Breakup: By End-User
Market Breakup: By Packaging Type
The size and scope of the global Tempeh industry vary by region and are important and expanding. Below is a quick summary of the industry's regional analysis:
North America: The tempeh market there has expanded significantly in recent years. Demand for plant-based protein sources has increased significantly, especially in the United States, thanks to health-conscious consumers and the growing acceptance of vegetarian and vegan diets. As a result, there is now more tempeh being produced and distributed around the area. The market for tempeh is also being boosted by the growth of inventive food entrepreneurs and investments in sustainable agriculture, both of which are in line with the values of many North American customers.
Europe: The market for tempeh is still influenced by Europe's long-standing acceptance of plant-based diets. The demand for tempeh as a meat alternative has increased in nations including the United Kingdom, Germany, and the Netherlands. Companies are responding to European consumers' priorities for sustainability and ethical sourcing by providing organic and locally sourced tempeh products. Culinary innovation is especially prevalent in the European market, where tempeh is used in a variety of conventional and fusion recipes.
Asia-Pacific: Southeast Asia continues to be a bastion for tempeh, the fermented soybean food that was invented there. Particularly now, Indonesia is still a significant producer and consumer of tempeh. However, the expanding middle class and health-conscious customers who are looking for low-cost, high-protein food options are also driving up interest in tempeh in the Asia-Pacific area. Due to tempeh's high nutritional content and adaptability, consumption has increased particularly in China and India.
South America: The continent is starting to show promise as a market for tempeh expansion. Concerns about the effects of meat production on the environment and concerns about deforestation have increased demand for plant-based protein sources in nations like Brazil. By creating tempeh using locally sourced materials, local businesses are bucking the trend and catering to both health-conscious consumers and those looking for sustainable protein substitutes.
Middle East & Africa: Due mostly to cultural preferences for meat-based diets, the Middle East and Africa areas are still relatively emerging markets for tempeh. However, there is a tiny but growing interest in vegetarian and vegan diets and a growing understanding of the health advantages of plant-based cuisine. It's feasible that the tempeh market in these areas will experience modest expansion as health and sustainability concerns gain support, but it might take some time to build a large presence.
Market Breakup By Region
The Tempeh Industry competitive landscape provides details by competitor. Details included are company outline, company financials, revenue generated, market potential, investment in research and development, new market initiatives, worldwide occurrence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The overhead data points providing are only related to the businesses’ focus related to Tempeh marketplace.
Major players operating in the Global Tempeh Industry are:
Global Tempeh Market Research Report, 2020-2031.
Our reports with in-depth insights will equip you to succeed in your business plans.
Get instant access to the information you need to make the right decision.
Explore where opportunities lie for you and mitigate the risks.
We are one of the most trusted brands setting benchmarks of excellence.