Tempeh Market Report 2025

The tempeh market size has grown strongly in recent years. It will grow from $5.71 billion in 2024 to $6.15 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to rising plant-based diets, growing health consciousness, vegetarian and vegan trends, culinary diversity, sustainable and ethical consumption.

The tempeh market size is expected to see strong growth in the next few years. It will grow to $8.71 billion in 2029 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to continued plant-based movement, global cuisine integration, health and wellness trends, innovative product offerings, retail expansion. Major trends in the forecast period include marketing of tempeh as a nutrient-dense superfood, collaborations and partnerships for tempeh product innovation, introduction of convenient and ready-to-eat tempeh products, focus on sustainable and non-GMO tempeh production, incorporation of tempeh in vegan and plant-based diets.

The increasing popularity and demand for vegan diets are expected to drive the growth of the tempeh market in the coming years. A vegan diet excludes all animal products, including fish, dairy, meat, and eggs. As plant-based diets, including vegan and flexitarian options, gain traction, more individuals are becoming aware of the ethical and environmental issues associated with meat production. This shift has led many consumers to seek meat substitutes, such as tempeh, which is rich in calcium and protein. For instance, a report published by the Plant-Based Foods Association in January 2023 revealed that plant-based food sales achieved a 6.6% growth in 2022, up from 5.9% in 2021, accompanied by a 10% increase in average retail prices. Therefore, the rising interest in vegan diets is significantly propelling the growth of the tempeh market.

The expansion of meat alternatives is expected to drive the growth of the tempeh market in the coming years. Meat alternatives are products designed to replicate the flavor, appearance, and nutritional profile of traditional meat, using plant-based or alternative sources of protein. As consumers seek alternatives that mimic the taste and texture of meat but are plant-based, the growth of meat alternatives presents an opportunity for tempeh. In 2023, the Good Food Institute Inc. reported that 93% of families in the United States purchased plant-based meat in 2022, indicating a strong consumer interest in meat alternatives. The plant-based food industry in the United States is projected to be valued at $8 billion in 2022, with a 7% increase in dollar sales from the previous year. Hence, the growth of meat alternatives emerges as a significant driver for the tempeh market.

Collaborations and partnerships have emerged as a significant trend in the tempeh market, with major companies actively engaging in such initiatives to enhance their market share and meet growing customer demand. For example, in September 2023, Tempeh Today, a Netherlands-based tempeh manufacturing company, announced a strategic partnership with Marel India Pvt. Ltd., an India-based food processing company. The collaboration aims to increase tempeh production and provide a sustainable protein option in India. Under this partnership, Tempeh Today and Marel India will work together to construct 20 units with standardized manufacturing processes, quality monitoring, and support for local and national distribution. Marel India will provide equipment, maintenance, and operator training programs for these units. Additionally, the collaboration includes the introduction of micro fermentation units (MFU) to empower economically vulnerable families. CFSS (Community Food and Sustainable Solutions) will contribute essential training, equipment, and raw materials for this initiative.

Major companies in the tempeh market are also focusing on product innovation, introducing items such as tempeh cubes to better cater to the preferences of their existing consumers. Tempeh cubes are bite-sized portions of tempeh, a classic fermented soy delicacy from Indonesia. In March 2022, Lightlife Foods, a US-based tempeh manufacturing company, launched Lightlife Tempeh Cubes. These pre-cut, pre-seasoned cubes come in three varieties - Teriyaki, Southwest, and Tikka Masala - and offer a quick, flavorful, and protein-rich option for consumers. The introduction of tempeh cubes is part of Lightlife Foods' strategy to expand its product offerings in response to consumer demand for convenient and innovative tempeh products.

In August 2024, Comitis Capital, a US-based investment and advisory firm, acquired The Tofoo Co., a UK-based company known for its production of plant-based tofu products, including tempeh. The financial details of the acquisition were not disclosed. This strategic move aims to enhance Comitis Capital's portfolio in the rapidly expanding plant-based food sector, specifically addressing the increasing demand for meat alternatives. This acquisition reflects a growing trend towards plant-based diets and the search for sustainable food options in the market.

Major companies operating in the tempeh market include The Nisshin OilliO Group Ltd., Maple Leaf Foods Inc., Vegolution India Private Limited, MGP Ingredients Inc., Plant Power Foods Ltd., Lightlife Foods Inc., Noble Bean Inc., Hello Tempayy, Totally Tempeh Inc., Nutrisoy Pty. Ltd., Mighty Bean Tempeh LLC, Margaret River Tempeh Company, PRIMASOY Organic Tempeh, Gwen Tempeh, Natural Oriental Fresh Foods BV, Alive & Healing Inc., Henry's Tempeh, Squirrel & Crow Soy-Free Tempeh, Tootie's Tempeh, Tempeh Tantrum, The Hearty Vegan, SBC Tempeh Manufacturers, Future Food Group (FFG B.V.), Tempeh Meades Ltd., Byron Bay Tempeh Company.

North America was the largest region in the tempeh market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the tempeh market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the tempeh market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Tempeh is a protein-rich food derived from partially cooked, fermented soybeans. The production process involves controlled fermentation and natural culturing, resulting in soybeans being formed into a cake. The fermentation process utilizes the fungus Rhizopus oligosporus, commonly known as tempeh starter.

In the tempeh market, the main product types include frozen, fresh, and ready-to-eat tempeh. Frozen tempeh is produced through the freezing process during manufacturing and can be stored in a refrigerator indefinitely to maintain freshness. Tempeh is derived from various sources such as soybean, multigrain, and others, available in both organic and conventional varieties. Different flavor options include plain, herb, and spices. The distribution channels for tempeh include hypermarkets, convenience stores, specialty stores, traditional groceries, and online retailers.

The tempeh market research report is one of a series of new reports that provides tempeh market statistics, including tempeh industry global market size, regional shares, competitors with a tempeh market share, detailed tempeh market segments, market trends and opportunities, and any further data you may need to thrive in the tempeh industry. This tempeh market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The tempeh market consists of sales of fresh tempeh, frozen tempeh, and ready-to-eat tempeh. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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