Global Tempeh Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2024-2032)

Global Tempeh Market Growth

According to data published in 2021, the global population of vegans is estimated to be around 79 million. A study conducted by Veganz, a company based in Berlin, evaluated five European nations based on their vegan populations, with the United Kingdom leading the ranking at 3.2% of its population identifying as vegan. Additionally, approximately 2% of individuals in the United States adhere to a vegan diet, although a significantly larger number are actively decreasing their meat consumption. The increasing popularity of tempeh is closely associated with the worldwide rise in veganism and plant-based diets. As consumers increasingly seek sustainable, ethical, and nutritious food choices, tempeh has emerged as a high-protein, probiotic-rich alternative to meat. Its adaptability in various recipes and health advantages, including aiding digestion and reducing cholesterol levels, contribute to its popularity among vegans. Additionally, the heightened awareness of environmental and ethical issues surrounding meat consumption further enhances tempeh's attractiveness, reinforcing its status in the plant-based food sector.

The increasing popularity of tempeh can be attributed to its numerous health advantages, substantial protein levels, and the expanding trend of plant-based diets. As individuals increasingly seek sustainable and ethical food choices, tempeh emerges as a valuable meat substitute, attracting both vegans and flexitarians. Its adaptability in various culinary applications, along with its probiotic benefits and contributions to heart and gut health, further enhance its appeal, particularly in areas that are adopting vegetarianism and clean eating practices.

Key Trends and Developments

Global Tempeh Market Trends

The tempeh market is experiencing significant growth, propelled by the rising interest in plant-based protein sources and an increasing awareness of health among consumers. Tempeh, which is abundant in protein, probiotics, and vital nutrients, is becoming increasingly favoured as a versatile alternative to meat in vegetarian and vegan diets. The heightened recognition of its health advantages, including enhanced digestion and lower cholesterol levels, further elevates its attractiveness. Additionally, the product's versatility in various culinary applications contributes to its worldwide demand. Major factors driving the market include the rise of flexitarian diets, concerns regarding sustainability, and innovations such as ready-to-eat and flavoured tempeh products.

Global Tempeh Industry Segmentation

Global Tempeh Market Share

Based on the distribution channels, the market is segmented into supermarkets and hypermarkets, convenience stores, and online, among others. The online segment is projected to grow at a CAGR of 9.3% during the forecast period of 2024-2032. The increasing popularity of tempeh is driven by online distribution channels that provide convenient access to plant-based products, enhance consumer knowledge, and address the escalating interest in healthy and sustainable options.

Leading Companies in the Global Tempeh Market

Market players are focusing on sustainable production methods to gain a competitive edge in the market.

Byron Bay Tempeh

Located in Byron Bay, Australia, Byron Bay Tempeh is dedicated to producing handcrafted, organic tempeh products. The company prioritises sustainable, plant-based protein options, offering a variety of flavours influenced by international cuisines.

Tootie’s Tempeh

Founded in 2019 and based in Maine, United States, Tootie’s Tempeh is an innovative enterprise that creates ...

Nutrisoy Pty Ltd.

Nutrisoy Pty Ltd., established in 1984 and headquartered in Melbourne, Australia, provides a diverse selection...

Maple Leaf Foods Inc.

Established in 1927 and located in Mississauga, Ontario, Canada, Maple Leaf Foods is a prominent consumer prot...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other major players in the tempeh market are The Tofurky Company, Inc., Rhapsody Natural Foods, Vegolution India private limited, Tempeh Meades, and Impulse Foods, among others.