Global Tofu Market 2017-2021: Geographical Segmentation and Key Insights by Technavio

Technavio has published a new report on the global tofu market from 2017-2021. (Graphic: Business Wire)

???pagination.previous??? ???pagination.next???

LONDON--()--The global tofu market is expected to grow at a CAGR of around 4% during the forecast period, according to Technavio’s latest market research.

In this market research report, Technavio covers the market outlook and growth prospects of the global tofu market for 2017-2021. Broadly, tofu products can be segmented into two categories: fresh or unprocessed tofu (produced directly from soy milk) and processed tofu (produced from fresh tofu). The processed segment accounted for close to 85% of the market share in 2016.

“Growing vegan population base and an increasing number of people with lactose intolerance, are driving the growth of the market. These people prefer tofu as an alternative non-meat and non-milk source of protein in their diets,” says Manjunath Reddy, a lead food research expert from Technavio.

Technavio’s research analysts segment the global tofu market into the following regions:

  • APAC
  • Americas
  • EMEA

Tofu market in APAC

APAC is the fastest-growing segment of the global tofu market. The major contributing countries in this region are China, Japan, South Korea, Vietnam, the Philippines, Thailand, and Indonesia. The rising demand for nutritional diet and increasing disposable income have significantly helped in the growth of the tofu market in APAC.

Plant-based proteins such as tofu extracted from soy have high demand in APAC. The production of soy in the region is led by China, followed by Japan. Consumers are more inclined toward soy-based foods such as tofu as it is easily digestible, has a high amount of protein, and has high nutritional values.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Tofu market in the Americas

The region is expected to witness a moderate growth during the forecast period. The demand is driven by the US, which is a leader in the global tofu market. Factors like an expanding vegan population base and shifting lifestyles of people who prefer healthy food items with high protein contents are driving the growth of the market in the Americas. Also, the increasing number of people with lactose intolerance is driving the demand for dairy alternatives such as tofu.

“In recent years, there has been an increasing demand for GMO-free soy across various nations and the exports from the region has significantly increased,” says Manjunath.

Tofu market in EMEA

France and Germany are the leading consumers of plant-based protein. With the increasing obesity rates and other health concerns across Europe, consumers have become more conscious about their choice of food products. Also, the excess consumption of animal protein across the region is damaging the health of consumers.

MEA contributes the least to the market. However, there is a growing demand for soy-based food like tofu in the Middle Eastern countries. For instance, tofu is now being used in shawarma, a fast food staple in the Middle East, instead of meat.

The top vendors in the global tofu market as highlighted in this market research analysis are:

  • Hain Celestial
  • House Foods Group
  • Hügli Holding
  • MORINAGA
  • Pulmuone
  • VITASOY

Browse Related Reports:

Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like food service, alcoholic beverages, and non-alcoholic beverages. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global tofu market is expected to grow at a CAGR of around 4% during the forecast period, according to Technavio's latest market research.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com