Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 145 million | USD 500 million | 16.2% | 2022 |
FrequentlyAsked Questions
Tempeh is a traditional food in Indonesia made up of fermented soybeans. Reportedly, the product is made with the help of a controlled fermentation process binding soybeans into a cake form.
The global tempeh market growth over forecast period can be owing to escalating preference towards a ready-to-eat diet.
According to a study, the global tempeh industry size was $145 million in 2022 and is projected to reach $500 million by the end of 2030.
The global tempeh market is anticipated to record a CAGR of nearly 16.2% from 2023 to 2030.
The North American tempeh industry is set to register the fastest CAGR over the forecasting timeline can be owing to a rise in the intake of vegan diets witnessed among Americans. Additionally, an increase in the consumption of meat alternatives seen in countries such as the U.S. will prompt the growth of the industry in the region.
The global tempeh market is led by players such The Cultured Bean Company, Lalibela Farm, Rhapsody Natural Foods, Future Food, American Soy Asia, Nutrisoy Pty Limited, Lightlife Foods, Soy Bean Company, ALIVE & HEALING INC., and Impulse Foods.
The global tempeh market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, and value chain analysis.
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