The global tofu market grew at a CAGR of around 5% during 2014-2019. Tofu, or bean curd, refers to a creamy and protein-rich soy product that is made from curdling fresh soy milk and pressing it into a solid block. Unprocessed tofu is commonly available in a variety of textures, including extra-soft, soft, silken, firm and extra-firm. It is widely used in multiple cuisines as it can effectively absorb flavors from spices, seasoning, sauces and marinades. It is a rich source of various nutrients and health-promoting compounds, such as iron, calcium, magnesium, copper, zinc, amino acids and vitamin B1, which aid in improving heart and bone health and weight management.
The significant growth in the food and beverage industry, along with increasing consumer preferences for vegan food products, is among the key factors driving the growth of the market. In line with this, growing health consciousness and increasing instances of various lifestyle disorders have led to the widespread adoption of low-fat and low-cholesterol vegan and soy-based food products. Furthermore, the continual launch of innovative product variants, such as tofu-based sauces, burgers, hot dogs, ice creams, shakes and desserts, is acting as another growth-inducing factor. Restaurants, cafes and other eateries are experimenting with multiple flavors and combinations of tofu to offer innovative and unique dishes to their customers. Additionally, the premiumization of gluten-free and low carb diets across the globe has also catalyzed the inclusion of organic tofu in the diets. Other factors, including aggressive promotional activities by manufacturers on social media platforms, the easy product availability through various e-commerce retail chains, rising consumer expenditure and rapid urbanization, are projected to drive the market further. Looking forward, IMARC Group expects the market to continue to exhibit moderate growth during the forecast period (2020-2025).
IMARC Group provides an analysis of the key trends in each sub-segment of the global tofu market report, along with forecasts for growth at the global, regional and country-level from 2020-2025. Our report has categorized the market based on region, product, type, application, and distribution channel.
Breakup by Product:
Breakup by Type:
Breakup by Application:
Breakup by Distribution Channel:
Breakup by Region:
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.
Key Questions Answered in This Report:
Due to the outbreak of the coronavirus disease (COVID-19), there has been a rise in the demand for plant-based, protein-rich food products, such as tofu. This is further supported by the shortage of meat products, which, in turn, is positively influencing the market growth.
The global tofu market is expected to reach a value of US$ 3.2 Billion by 2025.
The global tofu market was worth US$ 2.4 Billion in 2019.
The significant growth in the food and beverage industry, along with the increasing preference for vegan food products, is bolstering the market growth.
One of the leading market trends is the growing preference for gluten-free and low-carb diets globally, which has led to the inclusion of tofu in the diets of consumers across the globe.
Based on the product, the market is dominated by processed tofu, followed by unprocessed tofu.
The market is categorized into organic and conventional variants, wherein conventional tofu exhibits a clear dominance in the market.
On the basis of the application, the market has been classified into hotels, restaurants and catering, food processing, and household.
The market is segmented into direct sales, supermarkets and hypermarkets, convenience stores, specialist stores, and online stores. The majority of the tofu is distributed through supermarkets and hypermarkets.
Region-wise, the market is dominated by Asia Pacific. Other major regions are North America, Europe, Latin America, and Middle East and Africa.
The leading industry players are Amy's Kitchen, Inc., Eden Foods Inc., Hain Celestial Group, Inc., House Foods Group Inc., Kikkoman Corporation, Morinaga & Company, Ltd, Pulmuone Co, Ltd., Tofurky Company, and Vitasoy International Holdings Ltd.
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