Tempeh Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

The tempeh market is expected to register a CAGR of 9% during 2023–2031. Rising consumer interest in cross-cultural and plant-based cuisines is likely to remain a key market trend.  

Tempeh Market Analysis:

• One of the major contributors to the growth of the tempeh market is the increasing number of consumers preferring a plant-based diet. Consumers looking to substitute animal protein in their diet with vegan or vegetarian food which has significantly impacted the demand for tempeh. It is regarded as a nutritional meal option and a clean source of protein for people with plant-based dietary concerns.
• There is an increasing consciousness of animal cruelty in the production of meat. This has greatly influenced consumers' opinions, making them opt for plant-based products such as tempeh as an alternative to meat. People are witnessing the ill-treatment given to the animals in slaughterhouses. The growth is gradually gaining momentum as people increasingly begin to have an aversion to the inhumane acts towards animals and the saddening experience that goes with it.
• The culinary versatility and features of tempeh allow it to blend into different culinary delicacies and cultures. It is also favorable, and mostly accepted because of its adaptability to absorb different flavors.

Tempeh Market Overview

• Changing consumer preferences for plant-based diets and the rise in veganism are the driving forces behind surging demand for plant-based substitutes, including tempeh.
• An increasing number of people looking for clean-label and vegan-friendly products is potentially boosting the tempeh market.
• Rising demand for low-calorie, clean, and plant-based snacks with increasing consumer interest in cross-cultural cuisines are among the key factors driving the tempeh market growth.

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Tempeh Market: Strategic Insights

Tempeh Market

• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Market Dynamics

GROWTH DRIVERS

• Rising Demand for Plant-Based Products Made from Soy

FUTURE TRENDS

• Rising Consumer Interest in Cross-Cultural, Plant-Based, and Vegan-Friendly Cuisines

OPPORTUNITIES

• Surging Popularity of Certified Organic, Clean-Label, Vegan-Friendly and Ethical Products

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Source

• Soy
• Multigrain

Category

• Organic
• Conventional

Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail

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Tempeh Market Drivers and Opportunities

Rising Demand for Plant-Based Products Made from Soy

• Soybeans can be used to make plant-based products that are versatile, have good culinary qualities, and are healthy, convenient, and cheap. For those on a vegan or vegetarian (flexitarian) diet, soy-based products such as tempeh, tofu, soy milk, and soy-based meat alternatives are good for their health, and they provide a considerable amount of protein.
• In the past few years, more people are recognising the environmental and health benefits of consuming less meat and turning to alternative protein sources. Notably, soy has become a mainstream source of protein because it is a complete protein.
• Tempeh is made by fermenting soybeans and is a rich source of protein. This factor is significantly driving the market growth.

Opportunities

Surging Popularity of Certified Organic, Clean-Label, Vegan-Friendly and Ethical Products

• Consumers are becoming more inclined towards plant-based meat substitutes because of growing concerns over the environmental implications of meat production and the ethical issues associated with the meat-production industry. Tempeh is a purely plant-based high-protein meat substitute with a comparable meat-like texture and taste. It is in a perfect position to take advantage of increasing consumer interest in plant-based food.
• The high demand for organic food worldwide, including tempeh, is considered a great opportunity for both developing and developed countries to encourage organic farming and develop certified organic products. The increasing demand of consumers for organic and natural foods is likely to boost the tempeh market.
• Additionally, the tempeh market will also be boosted by the increasing trend towards vegetarian & vegan diets. Inculcation of this kind of diet will increase and will result in growing demand for protein substitutes. Tempeh being a strongly nutritive and protein-rich plant-based food will experience massive demand in the coming years.

Tempeh Market Segmentation

The scope of the global tempeh market has been segmented on the based-on source, category, and distribution channel.

• Based on source, the tempeh market is divided into soy, multigrain, and others.
• based on category, the market is divided into organic and conventional.
• Based on distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others

Tempeh Market Share Analysis by Geography

• Tempeh Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering tempeh market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers Porter’s Five Forces analysis, which involves the study of major factors that influence the tempeh market in these regions.

Tempeh Market Market Report Scope

Tempeh Market News and Recent Developments:

The tempeh market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:

• Greenleaf Foods, SPC owner of leading plant-based brands Lightlife and Field Roast, and a wholly-owned subsidiary of Maple Leaf Foods Inc., announced today that Lightlife Tempeh, the #1 tempeh brand in the United States and Canada, will now be available in a new format – Tempeh Protein Crumbles. As consumer demand for healthy, clean protein solutions grows, the plant-based protein leader recognizes the need for more convenient and delicious options. Lightlife Tempeh Protein Crumbles will be available in two flavors: Original and Smoked Chipotle. The Original variety is lightly seasoned with a blend of salt, pepper, and garlic. The Smoked Chipotle variety is seasoned with a bold blend of roasted peppers, for a heat level that's just right. Containing 16 grams of protein and 6 grams of fiber per serving, Lightlife Tempeh Protein Crumbles are an ideal way to power up meals such as salads, stir-fries, tacos, grain bowls, pasta, and so much more. (Source – Maple Leaf Foods Inc, Newsletters, Sept 2023)
• US halva and tempeh company, Seed + Mill, has announced the launch of a new organic spicy tempeh product available in a squeeze bottle format. Seed + Mill's organic spicy tempeh features hulled and roasted sesame seeds, red hot chili, sweet paprika, and paprika extract. The offering is non-GMO, gluten-free and vegan and kosher-friendly. The spicy tempeh offers a versatile option to replace consumers' preferred hot sauce. They can drizzle it over a variety of dishes such as eggs, tacos, burgers, dips, and grain bowls. In addition, the company's classic organic tempeh is also available in a squeeze bottle format. (Source – Seed + Mill, Newsletter, August 2023)

Tempeh Market Report Coverage and Deliverables

The “Tempeh Market Size and Forecast (2021 – 2031)” provides a detailed analysis of the market covering below areas:

• Tempeh market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
• Tempeh market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Tempeh market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the tempeh market.
• Detailed company profiles