The North America Tempeh Market is expected to witness market growth of 8.1% CAGR during the forecast period (2024-2031).
The US market dominated the North America Tempeh Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.86 billion by 2031. The Canada market is experiencing a CAGR of 10.4% during 2024-2031. Additionally, the Mexico market would exhibit a CAGR of 9.5% during 2024-2031.
Tempeh's adaptability surpasses its conventional applications, providing a variety of applications that accommodate a range of dietary preferences and culinary requirements. In addition, this is increasingly used as a meat substitute for fast food items like burgers and sandwiches. Its texture and ability to absorb flavors make it an ideal candidate for creating plant-based versions of classic fast-food staples. Restaurants and food service establishments are incorporating them into wraps and tacos, offering a protein-rich alternative to traditional fillings.
In addition, they can be processed into chips or crisps, providing a crunchy, protein-packed snack. These soya-based snacks cater to health-conscious consumers seeking alternatives to conventional potato chips. Some companies are developing protein bars with soya as a primary ingredient, offering a plant-based option for athletes and fitness enthusiasts.
The rise in the food and beverage processing sector has led to establishing and expanding the production facilities within Canada. This growth in local production capacity helps meet the increasing demand for them and reduces reliance on imports. Advances in food processing technologies in Canada are enhancing the efficiency and scalability of their production. These improvements contribute to better quality and more consistent products. The growth of e-commerce in Mexico has significantly expanded the reach of products. Consumers in both urban and rural areas can now access various options through online platforms, increasing overall market penetration.
The Mexican e-commerce sector was valued at USD 26.2 billion in 2022, a 23% increase from 2021, as per the International Trade Administration (ITA). In 2022, Mexican e-commerce consumers reached 63 million, a 5.5 million increase from the previous year. Hence, the growing food and beverage processing sector and the expansion of e-commerce in North America are expected to boost the demand for these products in the region.
The US market dominated the North America Tempeh Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.86 billion by 2031. The Canada market is experiencing a CAGR of 10.4% during 2024-2031. Additionally, the Mexico market would exhibit a CAGR of 9.5% during 2024-2031.
Tempeh's adaptability surpasses its conventional applications, providing a variety of applications that accommodate a range of dietary preferences and culinary requirements. In addition, this is increasingly used as a meat substitute for fast food items like burgers and sandwiches. Its texture and ability to absorb flavors make it an ideal candidate for creating plant-based versions of classic fast-food staples. Restaurants and food service establishments are incorporating them into wraps and tacos, offering a protein-rich alternative to traditional fillings.
In addition, they can be processed into chips or crisps, providing a crunchy, protein-packed snack. These soya-based snacks cater to health-conscious consumers seeking alternatives to conventional potato chips. Some companies are developing protein bars with soya as a primary ingredient, offering a plant-based option for athletes and fitness enthusiasts.
The rise in the food and beverage processing sector has led to establishing and expanding the production facilities within Canada. This growth in local production capacity helps meet the increasing demand for them and reduces reliance on imports. Advances in food processing technologies in Canada are enhancing the efficiency and scalability of their production. These improvements contribute to better quality and more consistent products. The growth of e-commerce in Mexico has significantly expanded the reach of products. Consumers in both urban and rural areas can now access various options through online platforms, increasing overall market penetration.
The Mexican e-commerce sector was valued at USD 26.2 billion in 2022, a 23% increase from 2021, as per the International Trade Administration (ITA). In 2022, Mexican e-commerce consumers reached 63 million, a 5.5 million increase from the previous year. Hence, the growing food and beverage processing sector and the expansion of e-commerce in North America are expected to boost the demand for these products in the region.
List of Key Companies Profiled
- Byron Bay Tempeh
- Tootie’s Tempeh
- Nutrisoy Pty Ltd
- Maple leaf foods, Inc.
- Primasoy
- Noble Bean Tempeh
- Tempeh Meades
- Rhapsody Natural Foods
- Vegolution India private limited
Market Report Segmentation
By Distribution Channel
- Foodservice
- Retail
- Hypermarkets and Supermarkets
- Convenience Stores
- Online
- Other Retail Channel Types
By Source
- Soya Beans
- Multi-grain
- Other Sources
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. North America Tempeh Market by Distribution Channel
Chapter 5. North America Tempeh Market by Source
Chapter 6. North America Tempeh Market by Type
Chapter 7. North America Tempeh Market by Country
Chapter 8. Company Profiles
Companies Mentioned
Some of the key companies profiled in this North America Tempeh market report include:- Byron Bay Tempeh
- Tootie’s Tempeh
- Nutrisoy Pty Ltd
- Maple leaf foods, Inc.
- Primasoy
- Noble Bean Tempeh
- Tempeh Meades
- Rhapsody Natural Foods
- Vegolution India private limited
Methodology
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