Global Tofu Market: Healthy sources of meat alternatives are expected to augment the market at a healthy CAGR of ~ 5.3% during the forecast period of 2022 to 2030.

Tofu Market Research Future Insights:

According to MRFR analysis, the global Tofu Market is expected to register a CAGR of ~ 5.3% from 2022 to 2030 and hold a value of over USD 2.34 Billion by 2030.

Tofu, also recognized as bean curd, is creamy and protein-rich soy that is complete from soybean. It is completed by curdling and pressing it into the solid blocks. There are two types of tofu obtainable in the market, namely, processed tofu and unprocessed tofu. Unprocessed tofu is obtainable in the market in a variety of textures. This product is cast-off in various types of cuisines as it can absorb the flavors of different types of spices. In India, soya tofu is cast-off in Indian dishes to make them tastier. This has higher the Tofu Market demand for tofu in India. Tofu is also measured as a rich source of various nutrients like magnesium, calcium, zinc, iron, etc. 

During the eruption of the COVID-19 pandemic, several foods, and beverages industries have been affected immensely. The demand for frozen food products, flour, eggs, whole grains, fruits, and vegetables witnessed massive growth during the early stages of the lockdown. But now, many companies have been affected owing to the low supply of raw materials. The tofu market has also been affected owing to inadequate supply which resulted in a disruption of demand and supply chain. It is now concentrating on shifting its supply chains which can help to strengthen its online presence. The vendors of the tofu industry are also altering their delivery measures to adapt to the current business situation of the world.

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Regional Analysis

North America’s dominance is owing to the strong existence of the healthcare industry in that region and rising investment in that sector. The Europe region is the second largest region in terms of market share as it also has its fair share of hospitals and clinics, and the efforts are taken by the government to offer better healthcare facilities to the people of this region.

The Asia Pacific is anticipated to grow in the estimated period owing to the infrastructural development in the healthcare industry. A rising geriatric population and expenditure on healthcare services are some other factors anticipated to support the market growth in this region.

Market Segmentation

The Global Tofu Market has been segmented into Product and Distribution channel

Based on the product, The Global Tofu Market has been segmented into Processed tofu and Unprocessed tofu. Processed tofu is dominating the segment with a maximum number of shares during the forecast period. Processed Tofu is complete for longer shelf life with certain preservatives and to decrease spoilage. Normally, the food and beverage industry favors processed tofu owing to its easy availability and longer food life, and decrease uncertain spoilage.

Based on Distribution Channels, The Global Tofu Market has been segmented into Direct sales, supermarkets, online stores, and others. The Supermarkets segment is dominating segment in Tofu Market. A healthy supply chain, a variability of options under one roof, and a constant supply of stock made the supermarkets a favorable choice for the consumer to source soy-based products like tofu

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Key Players

Some of the key market players are Dean Foods (US), Kikkoman Corporation (Japan), Eden Foods Inc (US), Vitasoy International Holdings (US), House Foods Group Inc (Japan), Bell Food Group (Switzerland), The Nisshin Oillio Group Ltd. (Japan), Pulmuone Co. Ltd (South Korea), Hain Celestial Group (US), and Moringa & Co (France)

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