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Global Tempeh Market Projected to Surpass $8.71 Billion by 2029 with 9.1% Annual Growth

03-12-2025 07:13 AM CET | Food & Beverage

Press release from: The Business Research Company

Tempeh Market Share

Tempeh Market Share

What combination of drivers is leading to accelerated growth in the tempeh market?
The tempeh market growth is anticipated to be propelled by the escalating interest and necessity for a vegan diet, which avoids products sourced from animals such as dairy, meat, fish, and eggs. There's a notable rise in the popularity of vegan and flexitarian diets, brought about by the evolution of the plant-based sector and heightened awareness of the complications linked to meat production. More and more individuals preferring a vegan lifestyle are opting for meat alternatives such as tempeh that are packed with significant amounts of protein and calcium. Case in point, per a report released by the Plant Based Foods Association, a US food and drink firm, in January 2023, 2022 saw plant-based food sales grow by 6.6%, an increase from 5.9% in 2021, and an average rise in retail prices by 10%. Consequently, the spur in the tempeh market is largely due to the intensifying demand and preference for vegan diets.

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What is the projected compound annual growth rate (CAGR) of the tempeh market from 2025 to 2034, and what factors influence it?
In recent times, there has been robust growth in the size of the tempeh market. This market is projected to expand from its 2024 value of $5.71 billion to $6.15 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.8%. The factors contributing to the growth during the historic period include the surge in plant-based diets, an increasing focus on health, popularity of vegetarian and vegan lifestyles, the variety in culinary options, and a shift towards sustainable and ethical consumer habits.

It is predicted that the tempeh market will experience robust expansion in the coming years, growing to $8.71 billion by 2029 with a compound annual growth rate (CAGR) of 9.1%. The expected growth during this forecast period is due to the ongoing prevalence of plant-based movements, the incorporation of international cuisine, evolving health and wellness trends, cutting-edge product releases, and retail growth. Key tendencies predicted for this period encompass the promotion of tempeh as a nutrient-rich superfood, alliances and partnerships intended for the innovation of tempeh products, the debut of convenient, ready-to-consume tempeh items, an emphasis on environmentally friendly and non-genetically modified tempeh production, and the integration of tempeh into vegan and plant-based meal plans.

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What are the emerging trends shaping the future of the tempeh market?
Collaborations and alliances are a growing trend in the tempeh market. Major industry players are using such strategies to broaden their market presence and cater to consumer needs. For example, in September 2023, Tempeh Today, a tempeh producer from the Netherlands reported their alliance with Marel India Pvt. Ltd., an Indian food processing firm. The aim behind this partnership is to boost tempeh manufacturing and to offer a viable, environmentally friendly protein source to the Indian market. The collaboration with Marel marks a significant stride toward realizing this goal. Tempeh Today is eagerly looking forward to support from Marel and the upcoming joint efforts. They have signed a memorandum of understanding to set up 20 facilities using Tempeh Today's standardized manufacturing, guidance and quality control, intending to supply these products locally and nationally. Marel India will provide machinery, maintenance, and training for operating the units. Coinciding with the standard units, CFSS has presented the idea of tiny fermentation units (MFU) to enable financially disadvantaged families to have a source of income. CFSS will supply vital training, tools, and raw materials for this venture.

What are the major segments of the tempeh market and their role in driving growth?
The tempeh market covered in this report is segmented -

1) By Product Type: Frozen, Fresh And Ready-To-Eat
2) By Nature: Organic And Conventional
3) By Flavor: Plain, Herbs And Spice
4) By Source: Soybean, Multigrain, Other Sources
5) By Distribution Channel: Hyper market, Specialty Retail, Convenience Stores, Traditional Groceries And Online Retailers

Subsegments:
1) By Frozen: Block Tempeh, Sliced Tempeh, Cubed Tempeh
2) By Fresh And Ready-To-Eat: Traditional Tempeh, Flavored Tempeh, Marinated Tempeh, Tempeh Burgers, Tempeh Sausages

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Which regions are key players in the growth of the tempeh market?
North America was the largest region in the tempeh market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the tempeh market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the tempeh market?
Major companies operating in the tempeh market include The Nisshin OilliO Group Ltd., Maple Leaf Foods Inc., Vegolution India Private Limited, MGP Ingredients Inc., Plant Power Foods Ltd., Lightlife Foods Inc., Noble Bean Inc., Hello Tempayy, Totally Tempeh Inc., Nutrisoy Pty. Ltd., Mighty Bean Tempeh LLC, Margaret River Tempeh Company, PRIMASOY Organic Tempeh, Gwen Tempeh, Natural Oriental Fresh Foods BV, Alive & Healing Inc., Henry's Tempeh, Squirrel & Crow Soy-Free Tempeh, Tootie's Tempeh, Tempeh Tantrum, The Hearty Vegan, SBC Tempeh Manufacturers, Future Food Group (FFG B.V.), Tempeh Meades Ltd., Byron Bay Tempeh Company

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What Is Covered In The Tempeh Global Market Report?

•Market Size Forecast: Examine the tempeh market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the tempeh market for a structured understanding.
•Key Players Overview: Analyze major players in the tempeh market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the tempeh market.
•Segment Contributions: Evaluate how different segments drive overall growth in the tempeh market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the tempeh market.
•Industry Challenges: Identify potential risks and obstacles affecting the tempeh market.
•Competitive Landscape: Review strategic developments in the tempeh market, including expansions, agreements, and new product launches.

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With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

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