The worldwide tempeh market was esteemed at US$ 3,842.8 Mn in 2019. The market has shown an extensive ascent from 2013 – to 2018 and the pattern is probably going to go on as the market displays a CAGR of 6.1% somewhere in the range of 2019 and 2026. The rising interest for meat analogs that are comparable in the surface and taste of meat is supporting the development of the market.
Almost 16% of the total populace takes soybean, while a few are focusing on getting familiar with the admission of plant-put-together items concerning most events. Over a couple of years, tempeh makers have enhanced creation across their assembling offices. Other than this, soy-based food materials, for example, tempeh and tofu are building up momentum on the lookout. Soy-based food varieties like tofu and tempeh additionally give a monetary benefit, beginning from cultivation to the notices.
The tempeh market is seeing rising interest as customers are searching for regular food items that will work for their wellbeing. Besides, clients are showing interest in GMO-Free and natural items in the food and drink industry which furnishes particular mouthfeel alongside medical advantages.
“The rising fame of vegetarian and flexitarian diet is expected to support the market for tempeh in the gauge period. Central members are embracing different systems to keep major areas of strength for an in the tempeh market.” says an FMI expert.
Key Takeaways from Tempeh Market Study
- As FMI concentrate’s on the tempeh market, a huge shopper base is searching for items that are normally obtained. Tempeh is a matured food item and falls under the class of useful food varieties, which gets the quickly rising purchaser interest for a solid way of life and quality food. Hence, the interest in tempeh is flooding.
- The worldwide tempeh market has been portioned in light of the source, where the soybean-based tempeh holds a significant offer. In any case, in the forthcoming time frame, the multi-grain-based portion is projected to show hopeful development because of its rising application in various food items.
- In light of nature, the worldwide tempeh market is fragmented into natural and ordinary sorts. Because of developing well-being concerns, buyers are searching for items that are developed normally and are liberated from synthetic compounds, and are not hereditarily adjusted.
- As far as item type, the new sort fragment represented 85% of the absolute tempeh piece of the pie.
- Europe and APAC are supposed to lead the worldwide tempeh market concerning esteem. The interest in tempeh is significantly high in North America, which is expected to show a high development rate in the impending years. Because of the rising number of flexitarian/veggie lover populace, the interest is supposed to increment in North America. The Latin American market, overwhelmed by Brazil, is likewise displaying popularity for tempeh.
