“Soy Product Market Size, Trends and Industry Analysis by 2027” recent intelligence study by MarketResearchReports.Biz.
The global “Soy Product Market” has witnessed changing patterns of consumer demand in the recent times. This research study is an attempt to understand the changes and the impact of this changes on the “Soy Product Market” across the world. The study delivers a comprehensive analysis of the market, acting as a source of valuable information for active market participants across the value chain and assisting them in capitalizing the opportunities as well as developing crucial business strategies. It also helps the companies operating in the market to understand the prevalent market trends and shaping their businesses accordingly.
Tempeh is a type of fermented soy cake product which can be consumed with rice or as a snack.
Tempeh is obtained from fermentation of soybean with Rhizopus oligosporus as a starter culture. Tempeh was originated in Indonesia and has been increasing its demand in global market as a competitor of tofu. Tempeh has many health benefits such as reducing cholesterol, increasing bone density, reducing menopausal symptoms, promoting muscle recovery, etc. Tempeh is a rich source of manganese, copper, fiber, protein, phosphorus, vitamins, magnesium, etc. which makes it popular in health conscious consumers globally. Tempeh is a better meat alternative of all fermented soy products. Tempeh contains high nutritional value and hence is used in various vegetarian cuisine worldwide, where it is used as meat analogue. Tempeh contains high levels of vitamins B6, B5, B3, and B2. Tempeh has the ability to have many textures and flavors which makes it a better substitute for meat and meat-based products.
The global tempeh market is segmented on the basis of type, distribution channels, form, and region. The global tempeh market is segmented on the basis of type such as tempeh bacem, tempe bongkrek, tempe mendoan, and tempe semangit. The global tempeh market is segmented on the basis of distribution channel as supermarket/ hypermarket, retail shops, online shops etc. The global tempeh market can also be segmented on the basis of form such as organic tempeh and conventional tempeh. On the basis of form the demand for organic tempeh is growing worldwide as a result of increasing health awareness among consumers. Hence, the global tempeh market is expected to significantly increase the revenue contribution over the forecast period.
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Market Regional Outlook:
On the basis of regions, the tempeh market has been segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific Excluding Japan, Japan, Middle East and Africa. Globally, among all regions, Asia Pacific has developed as the dominant region in global tempeh market followed by North America. Tempeh is originated in Indonesia which produces and consumes maximum amount of tempeh domestically. China is growing in producing tempeh to cater to consumer needs in global market. Japan, Korea and India are some countries which are gaining interest in producing fermented food products from soybean in turn growing tempeh market globally.
Market Drivers and Trends:
Tempeh is a healthy food containing probiotic which helps increasing antibodies, build stronger immune system, regulate appetite and reduces sugar. Tempeh is popular in health conscious consumers as it helps in reducing cholesterol levels naturally. Availability of tempeh in supermarket/ hypermarkets is also driving market for tempeh in urban countries. Increasing awareness of consumption of healthy food is driving market for tempeh globally. As a result of growing population of working professionals demand for ready-to-eat tempeh is increasing in urban areas driving market for tempeh globally. Manufacturers are focusing on providing healthier product offerings. Tempeh also has many health benefits such as its helps in muscle building, reduces risk of diabetes and treats inflammatory diseases which helps in growing global market for tempeh. Hence, the global tempeh market is expected to observe robust growth over the forecast period.
Tempeh Market Key Players:
Some of the key players in the tempeh market include Lalibela Farm, The Cultered Bean Company, Nutrisoy Pty Ltd., Impulse Foods, ALIVE & HEALING INC., and American Soy Asia 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 till 2027.
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MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
- Tailwinds and headwinds molding the market’s trajectory
- Market segments based on products, technology, and applications
- Prospects of each segment
- Overall current and possible future size of the market
- Growth pace of the market
- Competitive landscape and key players’ strategies
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- Understand the opportunities and pitfalls awaiting them
- Assess the overall growth scope in the near term
- Strategize effectively with respect to production and distribution
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