Global Tempeh Market: Overview
Tempeh is a type of fermented soy cake product which can be consumed with rice or as a snack. It is obtained from fermentation of soybean with Rhizopus oligosporus as a starter culture. It originated in Indonesia and its demand has been increasing in the global tempeh market as a competitor of tofu. It has many health benefits such as reducing cholesterol, increasing bone density, reducing menopausal symptoms, promoting muscle recovery, etc. It is also a rich source of nutrients which makes it popular in health conscious consumers globally.
The report is a compilation of first-hand information on qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and regions.
Global Tempeh Market: Drivers & Restraints
The demand for meat alternatives is increasing across various regions due to a spate of illnesses related to improper handling and processing of meat. Along with this the reduction in consumption of red meat owing to a growing focus on leading healthy lifestyle is also fueling growth. Being savory, tasteful and healthy, it allows consumers to indulge while also allowing them to follow their health regimes.
The adoption of the product also comes from the rising awareness and sensitivity towards animal cruelty, which is driving the global tempeh market at a robust growth rate. Increasing lactose intolerance in populations worldwide has been a decisive factor for the rise in the popularity of tempeh products.
However, high prices of tempeh, coupled with steep competition from substitutes like tofu may restrict the development of the tempeh market in the years to come. Excessive consumption of tempeh leads to harmful effects, such as cramps, allergies, nausea, and headaches that could confine the development of the tempeh market. Nevertheless, the introduction of ready-to-eat tempeh products with a range of taste and flavors is expected to create scope for the tempeh market.
Global Tempeh Market: Geographical Outlook
On the basis of regions, the global tempeh market has been led by Asia Pacific followed by North America.. The remarkable rise of vegan population in countries such as India, Italy, Germany, the United States, Australia, and the United Kingdom is expected to drive the development of the tempeh market over the forecast period.
Global Tempeh Market: Competitive Landscape
Some of the key players in the tempeh market include Alive & Healing Inc., American Soy Asia, Lalibela Farm, Nutrisoy Pty. Ltd., and Impulse Foods are among these. The companies are expected to expand their business by enhancing their product portfolio in global tempeh market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global tempeh market in the forthcoming years.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.