Global Tempeh Market Report 2022 – Market Forecast, Trends And Strategies

The global tempeh market size is expected to grow from $4.53 billion in 2021 to $4.89 billion in 2022 at a compound annual growth rate (CAGR) of 7.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.41 billion in 2026 at a CAGR of 7%.

What is the Global Tempeh Market?

The tempeh market consists of sales of tempeh products by entities (organization, sole-trader, and partnership) that is a high-protein food made from partially cooked, fermented soybean. Tempeh is produced by a controlled fermentation and natural culturing process which combines soybeans into a cake form. The fungus Rhizopus oligosporus, often known as a tempeh starter, is utilized in the fermentation procedure.

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What drives the Global Tempeh Market?

The increasing popularity and demand for the vegan diet is expected to drive the growth of the tempeh market in the coming years. A vegan diet excludes animal products such as fish, dairy, meat and eggs. Vegan and flexitarian diets are becoming more popular as the plant-based business has developed and people becoming more conscious of the difficulties surrounding meat production. People who prefer a vegan diet are increasingly turning to meat substitutes including tempeh, which contain high levels of calcium and protein. For instance, according to the Vegan and Plant-Based Diet Statistics report for 2021, more than 500,000 people signed up for Vegan in 2021, a 25% increase over the previous year. Plant-based retail sales in the United States climbed 11% in 2019, bringing the total industry value to $4.5 billion. Therefore, the increasing popularity and demand for the vegan diet propels the growth of the tempeh market.

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Global Tempeh Market Segments
The global tempeh market is segmented:
By Product Type: Frozen, Fresh And Ready-To-Eat
By Nature: Organic And Conventional
By Flavor: Plain, Herbs And Spice
By Source: Soybean, Multigrain, Others
By Distribution Channel: Hypermarket, Specialty Retail, Convenience Stores, Traditional Groceries And Online Retailers
By Geography: The regions covered in the tempeh market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global tempeh market.

Tempeh Global Market Report 2022provides market size and growth forecasts for the global tempeh market, global tempeh market share, tempeh market segments and geographies, tempeh market competitive landscape including leading competitors’ revenues, profiles and market shares. The tempeh market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Tempeh Industry Playersinclude Nutrisoy Pty Ltd., Mighty Bean Tempeh, Totally Tempeh, Margaret River Tempeh, Turtle Island Foods, Primasoy, Gwen Tempeh, Natural Oriental Fresh Foods BV, Alive and Healing, Henry's Tempeh, Lightlife Foods Inc., Squirrel & Crow Soy-Free Tempeh, Tootie's Tempeh, Tempeh Tantrum, and The Hearty Vegan. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.