Global Market Study on Tempeh: Extremely High Demand in ASEAN Region Boosting Market Growth


Tempeh  Market
  • Published On : Aug-2020 |
  • Pages : 300 Pages |
  • Format : Tempeh  Market Tempeh  Market Tempeh  Market Tempeh  Market

Various diseases associated with meat have impacted the dietary and culinary preferences of people regarding the consumption of meat products, especially those containing red meat. On the contrary, demand for meat substitutes such as tempeh has been increasing at a steady pace over the past few years. Tempeh is a soy-based fermented product that offers various health benefits and provides essential elements that nourish the human body.

Intake of meat substitutes, including tempeh, tofu, seitan, etc., is largely observed among individuals who prefer a vegan diet, as these products contain high amounts of protein and calcium. To cater to this increasing demand, manufacturers in the global tempeh market are focusing on investing in research & development to expand their product portfolio by launching different types of meat substitutes with various flavors, catering to different taste preferences.

Tempeh Market Trends

Frozen Meat Substitutes Gaining Steam: The concept of frozen food is growing at a steady pace, with awareness regarding various advantages of frozen food triggering their consumption on a large scale. In addition, nutritional value provided by frozen food is relatively higher than fresh food, as the freezing of food items prevents the loss of essential proteins and vitamins during their transport or storage. Frozen tempeh is gaining significant traction in the global tempeh market, although fresh tempeh is still expected to hold a lion’s share of the market.

Rapidly Expanding Food Chain Services & Online Stores Aiding Market Growth: Manufacturers are continuously striving to enhance their presence across the globe and expand their tempeh market share. Foodservice providers have a proven record of higher sales of meat substitutes such as tempeh across various countries, and this is a highly lucrative end-use segment. In addition, with the emergence of e-Commerce, online stores are gaining high traction with respect to food produce. Online stores are another potential selling platform for tempeh, and are projected to gain high traction in the years to follow.

Soy-based Proteins to be Most Preferred Source of Tempeh Production: Meat substitutes are high in proteins, typically soy proteins. Soy protein is a highly preferred protein source, owing to advantages such as fat loss, carb regulation, and healthy diet. The soy segment is poised to expand at a decent pace, owing to established production methods, taste preferences of consumers, and incorporation in a variety of recipes. The global tempeh market is also influenced by increasing demand for mycoproteins, as they are free of cholesterol and help in maintaining normal cholesterol levels. They are a rich lean protein source and highly preferred among the younger generation.

Regional Outlook of Tempeh Market

Considering that tempeh is native to Indonesia, the production and sales of tempeh in Indonesia and other ASEAN countries is expected to remain steady as compared to other regions across the globe. Majority of the population in ASEAN countries have been consuming tempeh for hundreds of years. However, tempeh consumption in North America is expected to account for a significant increase over the assessment period.

The tempeh market in North America is expected to register high growth over the next decade, while APAC is expected to remain the largest market through 2030, followed by Europe. The ASEAN region accounted for more than 95% value market share in 2019.

COVID-19 Impact on Tempeh Market

Trade struggles, prohibited and late planting of crops, and policy modernizations have presented tough decision-making situation to farmers. Judgments for this year are now considerably complicated, given the rapidly changing situation with the spread of COVID-19 and its associated health threats and control measures.

Presently, an overriding concern is ongoing for farming and livestock activities in the face of COVID-19 health threats and control measures. Farmers and input suppliers are coming up on a very busy planting season. To the extent possible, assuring a workplace free of COVID-19 is important. A recession is expected to result because of COVID-19 control measures, the extent of which remains unknown. At this point, the economic implications are uncertain, but some sort of acreage and public policy response seems likely.

It is innocuous to say that this downturn would also negatively impact agriculture. Raw material prices for processing tempeh have fallen since COVID-19 measures have been put in place across the globe. These fraction falloffs are based on a comparison of current future contract levels to projected prices.

As the COVID-19 virus lashes across the world, each phase along the agriculture industry supply chain is stepping up to keep employees and consumers safe, while still providing vital equipment, services, commodities, feed, and food. Food processing companies are facing significantly reduced consumption and supply chain disruption challenges. All major countries around the globe had announced total lockdowns to counter the COVID 19 pandemic. Thus, the production of tempeh was affected due to a shortage of raw material and lack of manpower in the second quarter of 2020. Some sort of resumption of operations have led to stabilization in production.

Analysts’ Viewpoint

The global tempeh market is set for impressive growth over the forecast period of 2020 to 2030, at a CAGR of more than 6%. Though fresh tempeh enjoys bulk of the demand, over the coming years, frozen tempeh will witness increasing demand. Manufacturers in the tempeh market can focus on ASEAN countries for increased sales to boost their market share.

Tempeh Market: Report Scope

The latest market report by Persistence Market Research on the global tempeh market evaluates the opportunities and current market scenario, providing insights and updates about the corresponding segments involved in the global tempeh market for the forecast period of 2020-2030. The report provides detailed assessment of key market dynamics and comprehensive information about the structure of the global tempeh market. This market study contains exclusive insights into how the global tempeh market is anticipated to grow during the forecast period of 2020-2030.

The primary objective of the global tempeh market report is to provide insights regarding opportunities in the market that are supporting the transformation of global businesses associated with tempeh. It is very important to consider that, in an ever-wavering economy, we provide estimated (Y-o-Y) year-on-year growth rate in addition to compound annual growth rate (CAGR) for overall forecasts, to enable readers better understand the analysis and evaluation of the global tempeh market, and to discover lucrative opportunities in the market.

This report also provides an estimate of the global tempeh market size and corresponding revenue forecasts carried out in terms of absolute $ opportunity. It also offers actionable insights based on the future trends in the tempeh market. Furthermore, new and emerging players in the global tempeh market can make use of the information presented in the study for effective business decisions, which will provide momentum to their businesses as well as the global tempeh market.

The study is relevant for manufacturers, suppliers, distributors, and investors in the global tempeh market. All stakeholders in the global tempeh market, as well as industry experts, researchers, journalists, and business researchers can leverage the information and data represented in PMR’s report.

Key Segments of Global Tempeh Market

PMR’s report on the global tempeh market offers information divided into six segments – source, nature, flavor, product type, distribution channel, and region.

Source

Nature

Flavor

Product Type

Distribution Channel

Region

  • Soybean
  • Organic
  • Plain
  • Frozen
  • Direct
  • North America
  • Multigrain
  • Conventional
  • Herbs & Spices
  • Fresh
  • Indirect
    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Food & Drink Specialty Stores
    • Traditional Groceries
    • Online Retailers
  • Latin America
  • Others
  • Ready-to-eat
  • Europe
  • Asia Pacific
  • Middle East and Africa

Key Questions Answered in PMR’s Global Tempeh Market

  • Which region will hold the highest market share in the global tempeh market during the forecast period?
  • Which region is experiencing the highest growth (CAGR)?
  • Which factors are impacting the global tempeh market?
  • What are the global trends impacting the tempeh market?
  • What strategies must emerging players adopt to capture opportunities in various regions in the tempeh market?
  • What is the market structure of the global tempeh market?

Global Tempeh Market: Research Methodology

Persistence Market Research is committed to providing unbiased market research solutions to its clients. PMR follows a robust methodology for the deduction of data included in this report. A unique research methodology is utilized to conduct extensive research on the global tempeh market, and reach conclusions about the future growth factors of the market. PMR’s research methodology comprises primary research methods coupled with secondary research methods, which ensures the accuracy and reliability of the conclusions in this report.

A demand-side approach is followed to estimate the sales of target products, followed by an in-depth supply-side assessment of value generated, key trends, and events over a predefined period. This methodology is based on standard market structures, methods, and definitions that are based on inputs from local sources in five regions - North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa, which PMR considers for segmenting the global market. Statistics, characteristics, and variances are collected at a regional level, aggregated at the same level, and then synthesized at a worldwide level, to create global market measurements. Our main sources of research include:

  • Primary Research
  • Secondary Research
  • Trade Research
  • Social Media Research

Companies covered in Tempeh Market Report

  • Turtle Island Foods, Inc.
  • Nutrisoy Pty Ltd
  • Mighty Bean Tempeh Sunshine Coast
  • Totally Tempeh
  • Byron Bay Tempeh
  • Margaret River Tempeh
  • Organic Village Food
  • Gwen Tempeh
  • Tempeh Temple
  • Primasoy
  • SBC Tempeh Manufacturers
  • Lalibela Farm Tempeh
  • Alive & Healing Inc.
  • Henry’s Tempeh
  • Rhapsody Natural Foods
  • TOFU Manufaktur Nagel GmbH
  • Impulse Tempeh
  • Schouten Europe B.V.
  • Natural Oriental Fresh Foods BV
  • Tempea Natural Foods Ltd.
Back To Top