LONDON--(BUSINESS WIRE)--The global tofu market size is poised to grow by USD 140.37 million during 2020-2024, progressing at a CAGR of over 3% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The tofu market is driven by the health benefits of tofu. Tofu is one of the world's most concentrated sources of high-quality vegetable protein. The frozen, dried tofu has twice the protein of beef, fish, and chicken, and negligible cholesterol levels. It also contains a wide range of essential amino acids and is a rich source of calcium, iron, and phosphorus. Genistein, a predominant isoflavone present in soy, has antioxidant properties that hinder the growth of cancer cells. Soy isoflavones present in tofu are also known to decrease bone loss and increase bone mineral density during menopause.
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Report Highlights:
- The major tofu market growth came from the processed segment and is expected to witness the fastest growth during the next five years.
- APAC was the largest tofu market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the rising demand for nutritional diet and increasing disposable income.
- The global tofu market is fragmented. Arla Foods amba, Bel Group, Danone SA, Dean Foods Co., House Foods Group Inc., Kikkoman Corp., The Hain Celestial Group Inc., The Tofurky Co. Inc., Valsoia Spa, and Vitasoy International Holdings Ltd. are some of the major market participants. To help clients improve their market position, this tofu market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global tofu market 2020-2024 is expected to have positive growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Growing Adoption of the Vegan Lifestyle will be a Key Market Trend
Veganism has become a style of living and philosophy. The vegan diet strongly favors animal rights, and vegan consumers do not consume meat. This can positively affect the global tofu market, as vegan consumers will look out for more plant-based alternatives such as soy-based foods. Tofu has gained popularity over the years, especially as a vegetarian and vegan-approved source of protein. Vegan diet followers and healthy diet adopters are the major targeted consumers for soy milk and cream.
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Tofu Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist tofu market growth during the next five years
- Estimation of the tofu market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the tofu market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of tofu market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Market Characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Processed - Market size and forecast 2019-2024
- Unprocessed - Market size and forecast 2019-2024
- Market opportunity by Product
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers – Demand led growth
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Competitive Scenario
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Arla Foods amba
- Bel Group
- Danone SA
- Dean Foods Co.
- House Foods Group Inc.
- Kikkoman Corp.
- The Hain Celestial Group Inc.
- The Tofurky Co. Inc.
- Valsoia Spa
- Vitasoy International Holdings Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
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