According to the latest report by IMARC Group, titled “Tofu Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global tofu market exhibited moderate growth during 2015-2020. Tofu, or bean curd, is a plant-based food product that is prepared by coagulating and pressing soy milk into solid white blocks. It is commercially produced in silken, soft, firm, and extra-firm textures. Tofu is a rich source of protein, iron, calcium, copper, zinc, amino acids, and vitamin B1. These elements aid in enhancing the skin texture, promoting hair growth, boosting energy, and maintaining a healthy weight. It also contains isoflavones that help protect against the risks of cancer, heart diseases, and osteoporosis. In addition to this, tofu is versatile, naturally gluten-free, and absorbs flavors through spices, marinades, and seasoning, due to which it is widely used in multiple cuisines.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Tofu Market Trends:
The increasing inclination toward vegan diets is mainly driving the global tofu market growth. This is further supported by several initiatives undertaken by non-government organizations (NGOs) across the globe to spread awareness regarding animal cruelty in the food industry. Moreover, the rising prevalence of various lifestyle disorders have led to the widespread adoption of low-cholesterol, gluten-free, and plant-based food products. In confluence with this, inflating disposable incomes and the increasing preference for premium products are catalyzing the demand for organic tofu, which is contributing to the market growth. The rapid establishment of quick serving restaurants (QSRs) and cafes, along with the introduction of innovative product variants for preparing unique dishes, such as tofu-based hot dogs, sauces, and desserts, is further fueling the market growth. Apart from this, manufacturers are employing antimicrobial packaging solutions to prevent microbial growth on the food surface while increasing the product shelf life, which is creating a positive outlook for the market. Looking forward, the market is expected to grow at a CAGR of around 5.2% during 2021-2026.
- Based on the product, the market has been bifurcated into processed and unprocessed tofu.
- On the basis of the type, the market has been divided into organic and conventional segments.
- Based on the application, the market has been classified into hotels, restaurants and catering, food processing, households, and others.
- On the basis of the distribution channel, the market has been segmented into direct sales, supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others.
- Region-wise, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Amy's Kitchen, Eden Foods Inc., Hain Celestia, House Foods Group, Kikkoman, Morinaga & Company, Pulmuone, Tofurky, Vitasoy, etc.
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