Asia-Pacific Tofu Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030

Asia-Pacific Tofu Market Analysis

The Asia-Pacific Tofu Market size is estimated at 411.9 million USD in 2025, and is expected to reach 761.7 million USD by 2030, growing at a CAGR of 13.08% during the forecast period (2025-2030).

The Asia-Pacific tofu market is experiencing significant transformation driven by changing consumer preferences and health consciousness. In China, approximately 40-60% of consumers were classified as conscious consumers actively reducing their meat consumption in 2022, highlighting the shift towards plant-based alternatives. Major retailers, including Walmart China, Sun Art Retail Group, and Carrefour China, have responded by creating dedicated shelf space for plant-based tofu products, demonstrating the mainstream acceptance of these alternatives. This shift is further supported by competitive pricing strategies, with tofu maintaining an average price point of USD 5 per kilogram in China during 2022, making it an accessible protein alternative for consumers across different income segments.

The distribution landscape for tofu is evolving rapidly with the modernization of retail infrastructure across the region. Supermarkets and hypermarkets have emerged as the dominant channel in the off-trade segment, accounting for 68% of market share, reflecting the growing consumer preference for organized retail formats. This trend is being accelerated by significant investments in retail infrastructure, exemplified by Lulu Group's announced investment of USD 1.21 billion in India over the next three years. The retail sector is responding to consumer demands by implementing innovative merchandising strategies, including dedicated plant-based sections and improved cold chain facilities for fresh bean curd products.

Supply chain optimization and domestic production capabilities are becoming crucial focus areas for market development. China has announced ambitious plans to increase its domestic soybean production from 16.4 million tons to 23 million tons by 2025, aiming to reduce import dependency and ensure a stable supply for soybean curd production. This strategic shift towards local sourcing is being complemented by technological advancements in production processes, with manufacturers investing in automated production facilities and quality control systems. The industry is witnessing increased collaboration between agricultural sectors and food processors to establish sustainable supply chains.

The competitive landscape is characterized by a mix of established players and innovative new entrants, with the top companies including Misuzu Corporation, PSC Corporation, and Vitasoy International Holdings collectively holding a 25.6% market share in 2022. These companies are driving innovation through product diversification, improved packaging solutions, and enhanced distribution networks. The tofu industry is seeing increased investment in research and development to create new tofu variants that cater to local taste preferences while maintaining traditional production methods. Manufacturers are also focusing on obtaining various certifications such as HACCP, ISO, and organic certifications to build consumer trust and meet regulatory requirements.

Asia-Pacific Tofu Market Trends

Uncertainty in soybean production is causing a spike in prices

• In 2022, the average price of tofu in Asia-Pacific was USD 6.03/kg. The highest price in 2022 was recorded in Malaysia and Australia at USD 7/kg. In Australia, tofu is sold as a premium product and, therefore, has a higher price markup. Although cheaper options are available, Australian consumers have a higher preference for tofu made from Australian ingredients. Demand is also more for tofu with the "Australian Grown Certified" label, while tofu made from organic soybeans is sold for a higher premium.
• The price of tofu in Japan was USD 6/kg in 2022. Following Russia’s invasion of Ukraine, Japanese retailers are facing higher import costs for soybeans, although demand remains strong. The war in Ukraine, the weaker Yen, and increased imports from China caused soybeans produced overseas to cost around 30% more in 2022 than the previous year and 75% more than in 2015. Despite these rising costs, average tofu prices remained at about USD 0.50-0.60 per 300 grams, which was almost the same as in 2015. Imported soybeans now make up about 12% of a block of tofu, up from around 6-7% in 2020.
• Governments in Asia-Pacific aim to increase domestic soybean production to reduce their excessive reliance on crop imports. In 2022, China imported more than 96 million tons of soybeans, which made up nearly 85% of its domestic consumption. However, China seeks to boost domestic soybean production by 40% over the next four years to change this situation. According to the 14th Five Year Plan on crop farming released by the Ministry of Agriculture and Rural Affairs (MARA) in January 2022, China plans to increase soybean production from 16.4 million tons in 2021 to 23 million tons by 2025 to improve self-sufficiency.

Segment Analysis: Distribution Channel

Off-Trade Segment in Asia-Pacific Tofu Market

The off-trade segment dominates the Asia-Pacific tofu market, accounting for approximately 67% of the total market share in 2024. This channel encompasses various retail formats, including convenience stores, supermarkets and hypermarkets, online channels, and other retail outlets. The segment's dominance is primarily driven by the expanding footprint of supermarkets and convenience stores across the region, particularly in emerging economies. Supermarkets and hypermarkets represent the largest sub-segment within off-trade, offering a wider selection of premium, value-added, and imported tofu products. The growth of e-commerce platforms has also significantly contributed to off-trade sales, with major online retailers expanding their tofu product offerings and improving delivery services. Additionally, the increasing consumer preference for at-home consumption and the convenience of purchasing packaged bean curd products through retail channels have further strengthened the off-trade segment's market position.

On-Trade Segment in Asia-Pacific Tofu Market

The on-trade segment is projected to be the fastest-growing distribution channel in the Asia-Pacific tofu market, with an expected CAGR of approximately 13% during 2024-2029. This robust growth is primarily driven by the increasing adoption of tofu-based dishes in restaurants, hotels, and other foodservice establishments across the region. The segment's expansion is further supported by the growing trend of plant-based dining and the rising number of vegetarian and vegan restaurants. Foodservice operators are continuously innovating their menus with new tofu-based offerings to cater to health-conscious consumers and those seeking meat alternatives. The segment is also benefiting from technological advancements in the foodservice industry, with many establishments partnering with technology players to improve inventory management, quality assurance, and core operations. This digital transformation is expected to enhance operational efficiency and drive further growth in the on-trade segment.

Asia-Pacific Tofu Market Geography Segment Analysis

Tofu Market in China

China dominates the Asia-Pacific tofu market, accounting for approximately 37% of the regional market value in 2024. The country's tofu market is characterized by its deep cultural integration and evolving consumer preferences, particularly among the 40-60% of consumers classified as conscious consumers who actively reduce their meat consumption. The market's strength lies in its robust domestic production capabilities, with many restaurants producing tofu using in-house equipment, enabling cost-effective production with commercial tabletop tofu makers available for as low as USD 180. The Chinese government's strategic focus on expanding domestic soybean production demonstrates its commitment to reducing import dependence and strengthening the local tofu industry. The market is further bolstered by the rapid digitalization of retail channels and the growing presence of international plant-based food companies. The combination of traditional consumption patterns and modern retail infrastructure has created a dynamic market environment that continues to drive growth in the Chinese tofu sector.

Tofu Market in Indonesia

Indonesia emerges as the most dynamic market in the region, projected to grow at approximately 14% CAGR from 2024 to 2029. The country's tofu industry operates predominantly at small and medium-scale levels, creating a diverse and competitive market landscape. The growing trend of veganism in Indonesia is supported by multiple factors, including increasing health consciousness and environmental awareness among urban consumers. Tofu's affordability compared to animal proteins has made it a staple in Indonesian cuisine, with various types including white, yellow, pong, silk, leather, and round tofu catering to different consumer preferences. The market's growth is further supported by the country's position as Southeast Asia's largest food-use soybean importer, importing 2.5-2.6 MMT annually, primarily from the United States. This robust supply chain infrastructure, combined with increasing consumer demand and expanding retail networks, positions Indonesia as a key growth market in the region.

Tofu Market in Japan

Japan's tofu market demonstrates sophisticated consumer preferences and innovative product development. The market is characterized by diverse offerings, with brands like Handsome Tofu, Johnny the Tofu Maker, and Blowing in the Wind introducing creative variations to attract modern consumers. Japanese consumers increasingly view tofu as a premium protein alternative, with products ranging from traditional blocks to innovative formats like tofu hamburgers. The market's evolution is supported by the agriculture ministry's initiatives to diversify protein sources in the Japanese diet. The retail landscape is well-developed, with supermarkets playing a crucial role in product distribution and innovation. The foodservice sector has also embraced tofu, incorporating it into various dishes from traditional preparations to modern fusion cuisine, reflecting the versatility and widespread acceptance of tofu in Japanese food culture.

Tofu Market in India

India's tofu market represents a unique blend of traditional vegetarian culture and modern health consciousness. Known locally as soy paneer, tofu has found acceptance among India's substantial vegetarian population, with over 34 million vegetarians as of recent years. The tofu market size in India is experiencing significant transformation with more than 50 start-ups currently operating in the plant-based foods sector. The development of new and cost-effective technology, particularly through initiatives by the Indian Council of Agricultural Research, has democratized tofu production for smaller players. The market's growth is further supported by expanding retail infrastructure and increasing consumer awareness about plant-based proteins. The combination of traditional vegetarian dietary preferences and modern health trends has created a favorable environment for tofu demand in India.

Tofu Market in Other Countries

The tofu market in other Asia-Pacific countries, including Australia, Malaysia, and South Korea, exhibits diverse growth patterns influenced by unique cultural and economic factors. Australia's market is characterized by premium positioning and a strong preference for locally sourced ingredients, particularly products bearing the "Australian Grown Certified" label. Malaysia's market benefits from its multicultural food landscape and growing health consciousness among urban consumers. South Korea's market is driven by traditional dietary preferences and innovative product developments in the convenience food sector. These markets share common growth drivers, including increasing health awareness, expanding vegetarian and vegan populations, and growing environmental consciousness among consumers. The development of modern retail infrastructure and online distribution channels continues to support market expansion across these countries.