Tempeh Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1865
Tempeh Market size is anticipating gains in the forecast time period. It is a traditional soy product made up of natural culturing and organized fermentation that binds it into a cake form. It contains valuable bacteria that produce vitamins such as B 12, it even prevents gas and indigestion from the body. Component is a dietary fiber as it has good content of protein that makes is popular as cuisine, where it is used as meat analogue.
Higher income and shift due to urbanization has increased demand for meat. Global meat industry provides food and livelihood to billions of people. The product is known for its flawless texture to emulate fish in recipes, it is a great alternative for ground beef in chilies and other dishes. The product is considered meatiest of soy foods and most versatile for cooking. It keeps proper shape and easily achieves flavor of marinades. It is an excellent way of introducing nutrients to people who enjoy meat. High usage of the component in meat has triggered tempeh market.
Growth in food industry drives product demand, food demand is expected to increase in between 50% to 90% by 2050. Component is used widely in various food items such as grilled food, sandwiches, salads, and stir-fry fish. It is low in fat and has no cholesterol, it is fair source of calcium and vitamin B. Increasing food industry will significantly influence tempeh market in the forecast time period.
Growing percentage of aged people has increased the demand for product, thus boosting tempeh market. World’s old age population continues to grow at an unpredictable rate. Over 8% people worldwide are aged 65 and above. With increase in geriatric population, demand for the component is rising simultaneously. It helps in improving mobility and quality of life of elderly people. It improves joint function, promotes lean muscle mass and supports healthy bones.
Challenges faced by tempeh market is its adverse effects on human health that include allergies, headache, nausea and cramps. It can cause adverse effect if consumed more than required quantity. Stringent regulation towards food security is restraining tempeh market to grow. The product is not advertised in various countries due to its side effects on human. Excessive consumption of the product can lead to harmful effects on human health.
Tempeh market is segmented on the basis of product into bacem, bongkrek, semangit and mendoan. Its distribution takes place through superstores, hypermarket, online and retail shops. The market is bifurcated into two forms organic and conventional. Organic accounts for larger share owing to increasing health awareness in consumers. It is extensively used in food industry in various forms such as meat, fish, salads and sandwiches.
Europe, led by Italy and Germany accounts for over 15% old aged population worldwide. The countries are expecting high growth in forecast time period. With the increase in geriatric population, the tempeh market will simultaneously rise. The compound is extensively consumed by elederly age people for preventing joint pain and quality of life.
Japan is among healthiest countries of the world. It is known for longevity and low cardiovascular disease rates. Product is beneficial as it is a major source of protein, calcium and vitamins in the body. It is originated in Indonesia and is highly consumed by Indonesians. Japan one of the fittest country will influence growth in product consumption.
Food industry is one of the Europe’s biggest manufacturing sector in terms of jobs and value addition. The region boosts an important trade surplus in food specialties that are well appreciated overseas. It hosts many big meat/poultry companies such as Beigi, Cranswick and Dawnmeats. European food industry comprises over 300,000 companies engaged in diverse sectors of industry, giving huge opportunities in future and employs over 3 million people. France and Italy are major contributors in European food industry. Growing food demand will positively influence tempeh market in the region.
Noticeable players in tempeh market are Alive & Healing Inc., American Soy Asia, Lalibela Farm, Nutrisoy Pty. Ltd., Impulse Foods and Noble Bean. Lalibela Farm expanded its farms in 2012 to grow their business and they have constantly changed their business model with changing needs of customers.
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