Tofu Market -Overview:
The efforts being made toward a healthy diet by individuals are estimated to benefit the progress of the tofu market. The market's report is efficiently analyzed as per MRFR, which provides outlooks for the global markets.
Tofu Market Size is projected to reach USD 2.7 billion, growing at a CAGR of 9.01% from 2023 to 2030.
The adaptability of tofu in a wide range of dishes is estimated to spur the expansion of the tofu market share in the upcoming period. The development of a taste for tofu in the new geographical region's consumer base is predicted to bolster the tofu market companies.
Regional Overview:
The regional assessment of the tofu market consists of Asia Pacific, North America, Europe and other notable regions. The North American region is projected to observe substantial growth throughout the forecast period. In the region, the US is likely to earn the highest income share and CAGR growth throughout the review period. Tofu in the US has in history been believed to be more of a niche product due to the strong demand for meat products in the region. Though, the rising tendency of veganism and vegan diets combined with increasing awareness of tofu as a decent source of protein has caused an increase in its development prospects. The Asia Pacific regional tofu market has strong control over the global demand as tofu was created in China and has been eaten for ages in South Korea, China, Japan, and many other southeast Asian countries. The development of the tofu market in the Asia Pacific region by the occurrence of a few important global companies in countries such as Japan, China, and South Korea. Moreover, half of the call for tofu across the globe is credited to the contribution of these Southeast Asian countries.
Competitive Analysis:
The measures being undertaken to ensure seamless functioning of the market is estimated to lay off in the long run. The market is projected to witness a period of turbulence with the impact of the pandemic on the workforce and the economy as a whole. The collaborative efforts of the market contenders are expected to broaden the horizons for development in the foreseeable future. The contenders in the market are likely to see aggressive competition in the coming years. The reimagined market structure is predicted to rely on a combination of robust online selling capabilities and a capable supply chain. The investment towards cutting-edge technology is anticipated to take a sharp surge with amplified funding accessibility. The formation of strong trade relations among several regions is forecasted to have a beneficial effect on growth. The focus on the client's needs is estimated to be more important than before as changes in living standards can have a notable bearing on the popularity of certain market trends.
The eminent companies in the tofu market are Moringa Co. (France), Kikkoman Corporation (Japan), Vitasoy International Holdings (US), Pulmuone Co., Ltd. (South Korea), Bell Food Group (Switzerland), Eden Foods, Inc. (US), Hain Celestial Group (US), House Foods Group Inc. (Japan), The Nisshin Oillio Group, Ltd. (Japan), and Dean Foods (US).
Segmental Analysis:
The segmental study of the Tofu Market Overview is carried out on the basis of type, distribution channel, and region. The distribution channel segment of the tofu market consists of foodservice and food retail such as supermarkets hypermarkets, convenience stores, and online. The region segment of the tofu market consists of Asia Pacific, North America, Europe and other notable regions. The type segment of the tofu market consists of conventional and organic.
Industry Updates:
Apr 2021 Pulmuone, a South Korean food company best documented for top tofu and soybean-based unpreserved food products, has recognized the presence of a novel plant-based meat line, demonstrating its first access into the category. The business intends to offer more than 20 types of plant-based products, from vegan meal kits and coconut-based yogurt to soy-based meat mince and chicken tenders.
Feb 2021 The Tofoo Co, a British company, has inaugurated the UK's first frozen tofu product. The product known as Tofoo Chunkies has been designed to make tofu more accessible. The Chunkies can be served out in a sandwich or with chips and peas as per the company. The company's unsalted Naked block is the most well-liked product in the entire chilled meat-free category.
Dec 2020 Starbucks UK has marked the start of 2021 with some radical plant-based options being introduced for Veganuary. The novel Beyond Meat Breakfast Sandwich highlight a Beyond Meat sausage patty, a portion of vegan cheese, tofu egg substitute, and Starbucks' signature tomato relish. This unveiling indicates the introduction of the Beyond Meat Breakfast Sausage in the UK, which has been madly popular in the US.
Related Reports:
Packaged Food Market Research Report: Information by Product Type (Grains Cereals, Ready Meals, Baked Products, Confectionary, Sweet Savory Snacks, Dried Fruits, Instant Noodles Pasta, Baby Food Infant Nutrition, Dairy Frozen Desserts, Soups, Sauces, Dressings CondimentsBeverages, Others), Category (Conventional, Organic), Distribution Channel (Store-Based {Supermarkets Hypermarkets, Convenience Stores, and Others} and Non-Store-Based), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2028
Global Plant-Based Burgers and Patties Market Research Report: Information by Type (Burgers and Patties), By Category (Organic and Conventional), By Distribution Channel (Food Retail and Food Service), by Region – Forecast till 2028
Global Packaged Salami, Sausage Bacon Market Research Report: Information By Product Type (Salami, Sausage and Bacon), Meat Type (Pork, Chicken, Beef, Others), Category (Standard and Ready-to-Eat), Distribution Channel (Store-Based {Supermarkets Hypermarkets, Convenience Stores and Others} and Non-Store Based) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027
About Market Research Future:
Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.
Our fast-emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.
Contact Us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 628 258 0071
Email: [email protected]
