Tofu Market - Growth, Trends, and Forecast (2020 - 2025)

Shifting consumer interest from animal products is majorly because of people’s rising concern about animal welfare, personal health, and most importantly, sustainability.The intake of animal protein is associated with high cholesterol level, fat, and calories, which increase the risk of cardiac disease, high blood sugar level, and obesity; hence, people are showing an inclination toward the vegan source of protein. This has created a good platform for the tofu market growth. Moreover, young consumers are seeking an alternative for red meat, but at the same time they are not ready to give up protein; thus, they are switching to plant protein products, such as tofu, which is boosting the tofu market, globally.

Asia Pacific dominated the global tofu market in terms of revenue while United Kingdom leads the market growth specifically, due to shifting lifestyle patterns towards veganism followed by U.S. The major contributing countries in Asia-Pacific region are China, Japan, South Korea, Vietnam, the Philippines, Thailand, and Indonesia. China is one of the fastest growing market for soybean and is anticipated to be major exporter as well. This will ultimately affect the growth market for tofu and tofu based products. Also, emerging nations of Middle East and Africa has huge opportunities to the global tofu market due to its high nutritional benefits.  For instance, tofu is currently being used in shawarma, a fast food staple in the Middle East, as a substitute of meat, which boosting the tofu market.