Tofu Market Expected to Reach $3.6 Billion by 2028, Fueled by the Rise of Veganism and Innovative Product Variants

Dublin, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The "Tofu Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to's offering.

The global tofu market, valued at US$ 2.7 Billion in 2022, is poised for further growth, with projections indicating that it will reach US$ 3.6 Billion by 2028. This growth is expected to be driven by a Compound Annual Growth Rate (CAGR) of 4.9% during the period from 2023 to 2028.

Tofu, also known as bean curd, is a versatile soy-based product known for its creaminess and protein content. It is produced by curdling fresh soy milk and pressing it into a solid block. Tofu comes in various textures, including extra-soft, soft, silken, firm, and extra-firm, making it suitable for a wide range of culinary applications. Rich in essential nutrients and health-promoting compounds such as iron, calcium, magnesium, copper, zinc, amino acids, and vitamin B1, tofu offers benefits for heart health, bone health, and weight management.

Global Tofu Market Trends:

Several trends are contributing to the growth of the tofu market:

  1. Rise of Veganism: The growing preference for vegan food products and increasing health consciousness are driving the demand for tofu. Tofu serves as a low-fat and low-cholesterol vegan and soy-based food product.
  2. Innovative Product Variants: Manufacturers are continually introducing innovative tofu-based products, including sauces, burgers, hot dogs, ice creams, shakes, and desserts, appealing to a wider consumer base.
  3. Restaurant Experimentation: Restaurants and eateries are experimenting with tofu to create unique and innovative dishes, catering to consumers seeking diverse culinary experiences.
  4. Premiumization of Diets: The premiumization of gluten-free and low-carb diets has led to the inclusion of organic tofu in diets, further boosting the market.
  5. Digital Promotion: Aggressive promotional efforts by manufacturers on social media platforms, coupled with easy availability through e-commerce retail chains, are driving market growth.
  6. Urbanization and Rising Consumer Expenditure: Rapid urbanization and increasing consumer expenditure are anticipated to drive the market further.

Key Market Segmentation:

The report provides a detailed analysis of key market segments, including product, type, application, and distribution channel.

Breakdown by Product:

  • Processed Tofu
  • Unprocessed Tofu

Breakdown by Type:

  • Organic
  • Conventional

Breakdown by Application:

  • Hotels, Restaurants, and Catering
  • Food Processing
  • Household
  • Others

Breakdown by Distribution Channel:

  • Direct Sales
  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Specialist Stores
  • Online Stores
  • Others

Breakdown by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Competitive Landscape:

The report offers an in-depth examination of the competitive landscape, featuring profiles of key players including Amy's Kitchen, Eden Foods Inc., Hain Celestial, House Foods Group, Kikkoman, Morinaga & Company, Pulmuone, Tofurky, and Vitasoy.

Key Questions Answered in This Report:

  1. What was the size of the global tofu market in 2022?
  2. What is the expected growth rate of the global tofu market during 2023-2028?
  3. What are the key factors driving the global tofu market?
  4. What has been the impact of COVID-19 on the global tofu market?
  5. What is the breakdown of the global tofu market based on the product?
  6. What is the breakdown of the global tofu market based on the type?
  7. What is the breakdown of the global tofu market based on the application?
  8. What is the breakdown of the global tofu market based on the distribution channel?
  9. What are the key regions in the global tofu market?
  10. Who are the key players/companies in the global tofu market?

Key Attributes:

Report AttributeDetails
No. of Pages142
Forecast Period2022 - 2028
Estimated Market Value (USD) in 2022$2.7 Billion
Forecasted Market Value (USD) by 2028$3.6 Billion
Compound Annual Growth Rate4.9%
Regions CoveredGlobal

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Global Tofu Market

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