The Global Tofu Market to 2023: Unprocessed Tofu Expected to Show the Most Rapid Growth - ResearchAndMarkets.com
Aug. 20, 2018
DUBLIN--(BUSINESS WIRE)--Aug 20, 2018--The "Global Tofu Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global tofu market is expected to register a CAGR of 4.05% during the forecast period 2018-2023.
A major number of people are shifting towards vegan diets and tofu is an excellent substitute for meat products. There is an increasing health awareness among individuals, so consumers will be more attracted to consume tofu as it is gluten free and contains no cholesterol. It is excellent source of protein as well. Besides, the price of soy products is considerably lower than that of milk product and it will affect the preparation price for tofu as well. Ultimately, there will be an increase in market growth for tofu.
Although tofu is rich in calcium content as it has several artificially added coagulants such as calcium sulphate, yet it lacks naturally present calcium. As a result, this causes people reluctant about its consumption. Another major restraint is the high perishability rate of tofu and tofu based products.
The number of lactose intolerant people are increasing in Asia-Pacific and US, which will cause customers to consume these products more. Moreover, the distribution salesforce data reveals an inclined buying of plant based products, organic products & non GMO products. Hence, the companies will have huge potential in meeting the demands of tofu and tofu based products.
Based on type, the global tofu market can be categorized into processed and unprocessed tofu. Processed tofu dominated the market share in 2016, major reason being its longer shelf-life and higher preservation capacity. However, unprocessed tofu is expected to show the most rapid growth rate during the forecast period of 2018-2023. Perhaps, this is due to increasing awareness among individuals for consuming natural products without preservatives.
By application, the tofu market can be segmented into supermarkets/hypermarket, convenience stores, online channels and others. Countries like US are emphasizing on more inflow of plant based products such as tofu instead of meat products in hypermarkets such as Walmart. However, smaller retailers are little skeptical on selling these products, pertaining to its high cost.
Key Topics Covered
2. Market Insights
3. Market Dynamics
4. Market Segmentation
5. Regional Market Analysis
6. Competitive Landscape
7. Company ProfilesEden Foods Hain Celestia House Foods Group Hugli Holding Company Morinaga & Company Nutrition et Soja Pulmuone Co. Ltd. Sojasun The Nisshin Oillio Group Ltd. Valsoia
For more information about this report visit https://www.researchandmarkets.com/research/pgpg9q/the_global_tofu?w=4
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Related Topics:Health Food and Sports Nutrition
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE
SOURCE: Research and Markets
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PUB: 08/20/2018 11:51 AM/DISC: 08/20/2018 11:51 AM