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 ResearchAndMarkets.com'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:
- 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.
- 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.
- Restaurant Experimentation: Restaurants and eateries are experimenting with tofu to create unique and innovative dishes, catering to consumers seeking diverse culinary experiences.
- 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.
- Digital Promotion: Aggressive promotional efforts by manufacturers on social media platforms, coupled with easy availability through e-commerce retail chains, are driving market growth.
- 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:
- What was the size of the global tofu market in 2022?
- What is the expected growth rate of the global tofu market during 2023-2028?
- What are the key factors driving the global tofu market?
- What has been the impact of COVID-19 on the global tofu market?
- What is the breakdown of the global tofu market based on the product?
- What is the breakdown of the global tofu market based on the type?
- What is the breakdown of the global tofu market based on the application?
- What is the breakdown of the global tofu market based on the distribution channel?
- What are the key regions in the global tofu market?
- Who are the key players/companies in the global tofu market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $2.7 Billion |
| Forecasted Market Value (USD) by 2028 | $3.6 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/i84tyc
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