Global Tempeh Market: Overview
Tempeh is a type of fermented soy cake product which can be consumed with rice or as a snack. It is obtained from fermentation of soybean with Rhizopus oligosporus as a starter culture. It originated in Indonesia and its demand has been increasing in the global tempeh market as a competitor of tofu. It has many health benefits such as reducing cholesterol, increasing bone density, reducing menopausal symptoms, promoting muscle recovery, etc. It is also a rich source of nutrients which makes it popular in health conscious consumers globally.
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Global Tempeh Market: Drivers & Restraints
The demand for meat alternatives is increasing across various regions due to a spate of illnesses related to improper handling and processing of meat. Along with this the reduction in consumption of red meat owing to a growing focus on leading healthy lifestyle is also fueling growth. Being savory, tasteful and healthy, it allows consumers to indulge while also allowing them to follow their health regimes.
The adoption of the product also comes from the rising awareness and sensitivity towards animal cruelty, which is driving the global tempeh market at a robust growth rate. Increasing lactose intolerance in populations worldwide has been a decisive factor for the rise in the popularity of tempeh products.
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However, high prices of tempeh, coupled with steep competition from substitutes like tofu may restrict the development of the tempeh market in the years to come. Excessive consumption of tempeh leads to harmful effects, such as cramps, allergies, nausea, and headaches that could confine the development of the tempeh market. Nevertheless, the introduction of ready-to-eat tempeh products with a range of taste and flavors is expected to create scope for the tempeh market.
Global Tempeh Market: Geographical Outlook
On the basis of regions, the global tempeh market has been led by Asia Pacific followed by North America.. The remarkable rise of vegan population in countries such as India, Italy, Germany, the United States, Australia, and the United Kingdom is expected to drive the development of the tempeh market over the forecast period.
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Global Tempeh Market: Competitive Landscape
Some of the key players in the tempeh market include Alive & Healing Inc., American Soy Asia, Lalibela Farm, Nutrisoy Pty. Ltd., and Impulse Foods are among these. The companies are expected to expand their business by enhancing their product portfolio in global tempeh market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global tempeh market in the forthcoming years.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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