• US: +1-408-610-2300
  • Toll Free: +1-866-831-4085
  • Login / Register
  • Home
  • » Food
  • » Tofu Market Size, Share, 2019-2025 | Global Industry Trends Report
Tofu Market Size, Share, 2019-2025 | Global Industry Trends Report

Tofu Market Analysis Report By Distribution Channel, By RegionAnd Segment Forecasts From 2019 To 2025

Report ID: MN17619817  |  Published: June 2020  |  No of Pages: 110
Format: Electronic (PDF)  |  Industry: Food  |  Publisher: Grand View Research

Industry Insights

The global tofu market size was accounted for USD 2.31 billion, in 2018 and is projected to grow at the CAGR of 5.2% between the forecast period, 2019 to 2025. The growing consumer inclination towards a vegan diet owing to the health benefits especially from developed countries such as Germany, and the U.S. along with rising awareness about the product is a key factor propelling the market growth. Tofu comes with gluten-free content and one ounce of the product contains an ample amount of the carbohydrates and proteins in it. The U.S. food & drug administration (USFDA) suggests consuming soy protein of 25 grams regularly to maintain cholesterol levels.

The product is also a high protein carrying source and option for dairy and meat products. Tofu is also useful in making sauces, hot dogs, shakes, burgers, desserts, and ice cream products. The increasing demand for these food products is expected to boost market growth. Popular tofu products include firm, silken, cubed & sprouted super firms, extra firm, and others.

U.S. tofu market

Tofu is produced with gluten-free content and made from soy curd. According to studies, one in every 133 individuals in America has celiac disease. Celiac disease prevalence is 4% in South America, 0.8% in Europe, 0.6% in Asia and 0.5% in North America. This factor is anticipated to increase the demand for gluten-free tofu products in the coming few years. Popular tofu brands include Nasoya Tofu, Azumaya Tofu, Trader Joe’s, and House Food Tofu. Around 65% of the population in the world is intolerant to lactose. The lactose-free option such as tofu is expected to foster market growth.

Distribution Channel Insights

The tofu market is segmented into hypermarkets & supermarkets, online, specialty stores, and grocery stores, depending on distribution channel. In 2018, hypermarkets & supermarkets accounted for the revenue of USD 1.3 billion in the overall market. These channels allow consumers to choose from a large variety of products under one roof. The products are also offered at affordable prices. Supermarkets also provides quality assurance to its products.

Online channel is projected to exceed at the highest CAGR of 7.7% over the forecasted period. The availability of all global brands is increasing the trend of online shopping. The growing e-commerce industry and the increasing number of mobile users is expected to propel the market growth. Furthermore, cashback offers, doorstep & faster delivery options are gaining traction among consumers and influencing them to purchase product from online platforms.

Regional Insights

In 2018, Asia Pacific led the market with largest share of over 56.0% in the overall market. The increasing consumer awareness owing to the health advantages associated with it are expected to propel the demand for the product. Japan is the market leader owing to the presence of large number of manufacturers in the region.

Major manufacturers in the Chinese market are Jiaxing Jiajiale Foods Co. Ltd., hanghaiXuyang Green Food Co. Ltd., and Hangzhou Huayuan Bean Food Co. Ltd.

Global tofu market

North America region is projected to grow at the highest CAGR of 6.1% during the forecasted period. The consumers highly prefer soy-based food products owing to its health benefits and the high content of nutrients in it. Moreover, the increasing vegan population in Canada and the U.S. is projected to contribute to the market growth.

Tofu Market Share Insights

Leading players in the market include House Foods Group Inc.; Invigorate Foods; Hugli Holding Company; Hain Celestial; Pulmuone Co., Ltd; San Jose Tofu; The Nisshin Oillio Group, Ltd.; Tofurky; Morinaga & Company; and Eden Foods. Top players in the market invest high on increasing its product portfolio and distribution network across the globe.

For instance, in 2019, Inviogorate Foods has spent around USD 8 million in the Indian market. The company also launched product called GenkiYa Tofu. Companies also focus on merger & acquisitions strategies. For instance, in 2018, Keystone natural holdings LLC acquired Superior Tofu Ltd.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America &Middle East & Africa

Country scope

U.S., Canada, U.K, Germany, China, Japan, and Brazil.

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global tofu market report on the basis of distribution channel, and region:

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Supermarkets & Hypermarkets
    • Grocery Stores
    • Online
    • Specialty Stores

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • Asia Pacific
        • China
        • Japan
    • Central & South America
        • Brazil
    • Middle East &Africa (MEA)

What questions do you have? Get quick response from our industry experts. Request More information
Key questions answered in the report include
key questions
We also offers customization on reports based on specific client requirement.
Request for Customization

Choose License Type

Research Assistance

Ryan Manuel
Ryan Manuel

Research Support Specialist, USA

  1. Phone: +1-408-610-2300
  2. Toll Free: +1-866-831-4085
  3. Email: [email protected]
  • World's largest premium report database
  • Transparent pre & post sale customer engagement model
  • Unparalleled flexibility in terms of rendering services
  • Safe & secure web experience
  • 24*5 Research support service
  • 100% Secure Payments
  • Our Promise
  • 100% Service Assurance
  • Market Monitoring
  • Service Flexibility
  • 24X5 Care available