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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 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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