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Pork Meat Global Market Report 2022

·4 min read

Major players in the tempeh market are Nutrisoy Pty Ltd. , Mighty Bean Tempeh, Totally Tempeh, Margaret River Tempeh, Turtle Island Foods, Primasoy, Gwen Tempeh, Natural Oriental Fresh Foods BV, Alive and Healing, Henry’s Tempeh, Lightlife Foods Inc.

New York, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pork Meat Global Market Report 2022" - https://www.reportlinker.com/p06221932/?utm_source=GNW
, Squirrel & Crow Soy-Free Tempeh, Tootie’s Tempeh, Tempeh Tantrum, and The Hearty Vegan.

The global tempeh market is expected to grow from $4.53 billion in 2021 to $4.89 billion in 2022 at a compound annual growth rate (CAGR) of 7.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.41 billion in 2026 at a CAGR of 7%.

The tempeh market consists of sales of tempeh products by entities (organization, sole-trader, and partnership) that is a high-protein food made from partially cooked, fermented soybean.Tempeh is produced by a controlled fermentation and natural culturing process which combines soybeans into a cake form.

The fungus Rhizopus oligosporus, often known as tempeh starter, is utilised in the fermentation procedure.

The main types of products in tempeh are frozen, fresh and ready-to-eat.Frozen tempeh is manufactured by freezing during the processing period.

Frozen tempeh can be frozen indefinitely in a refrigerator to preserve their freshness.The tempeh is originated from soybean, multigrain, others and has both organic and conventional nature.

The different flavours include plain, herb and spices. The tempeh is distributed through various channels such as hypermarket, convenience stores, specialty stores, traditional groceries and online retailers.

North America was the largest region in the tempeh market in 2021.Asia Pacific is expected to be the fastest growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Collaborations and partnerships has emerged as a key trend in the tempeh market.Major companies operating in the tempeh sector are focused on collaborations and partnerships to enhance their market share and meet the customer demand.

For instance, In September 2020, One Planet Pizza, an India based vegan food company and Better Nature, a US food tech company collaborated to launch their first frozen tempeh pizza.The collaboration enabled Better Nature to develop innovative tempeh products.

Furthermore, In November 2020, Greenleaf Foods, a US based food company strengthens its partnership with Walmart, a US based retail company to expand its Lightlife tempeh products to more than 3500 Walmart locations globally.

The increasing popularity and demand for the vegan diet is expected to drive the growth of the tempeh market in the coming years.A vegan diet excludes animal products such as fish, dairy, meat and eggs.

Vegan and flexitarian diets are becoming more popular as the plant-based business has developed and people becoming more conscious of the difficulties surrounding meat production.People who prefer a vegan diet are increasingly turning to meat substitutes including tempeh, which contain high levels of calcium and protein.

For instance, according to the Vegan and Plant-Based Diet Statistics report for 2021, more than 500,000 people signed up for Vegan in 2021, a 25% increase over the previous year. Plant-based retail sales in the United States climbed 11% in 2019, bringing the total industry value to $4.5 billion. Therefore, the increasing popularity and demand for the vegan diet propels the growth of the tempeh market.

In June 2019, Keystone Natural Holdings, a US-based company that manufactures plant-based protein products acquired Westsoy tofu, seitan, and tempeh businesses from Hain Celestial Group Inc. for an undisclosed amount. The acquisition is expected to provide customers with innovative, high-quality products and strengthen Keystone Natural Holdings’ position. Hain Celestial Group Inc. is a US-based food company that manufactures plant-based products including tofu, tempeh, and seitan.

The countries covered in the Tempeh market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06221932/?utm_source=GNW

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