Tofu Market Size
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 1.66 Billion |
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Market Size (2029) | USD 2.95 Billion |
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Largest Share by Distribution Channel | Off-Trade |
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CAGR (2024 - 2029) | 12.16 % |
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Largest Share by Region | Europe |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Tofu Market Analysis
The Tofu Market size is estimated at 1.66 billion USD in 2024, and is expected to reach 2.95 billion USD by 2029, growing at a CAGR of 12.16% during the forecast period (2024-2029).
1.66 Billion
Market Size in 2024 (USD)
2.95 Billion
Market Size in 2029 (USD)
8.38 %
CAGR (2017-2023)
12.16 %
CAGR (2024-2029)
Largest Segment by Region
36.40 %
value share, Europe, 2023
Due to a large majority of the population being allergic to soy, the introduction of soy-free tofu derived from chickpeas and yellow peas is trending in the European market.
Largest Segment by Distribution Channel
71.39 %
value share, Off-Trade, 2023
Consumers purchasing from supermarkets and hypermarkets is increasing with the wide offerings in the store and the expansion of shelf space for meat substitutes like tofu.
Fastest-growing Segment by Region
13.14 %
Projected CAGR, Asia-Pacific, 2024-2029
Tofu is a common ingredient in ethnic and regional dishes from East and Southeast Asia, with subtle regional variations in methods of production, texture, flavor, and usage.
Fastest-growing Segment by Distribution Channel
12.60 %
Projected CAGR, On-Trade, 2024-2029
The sales growth is due to a hike in the global vegan population leading to the launch of several vegan restaurants or the addition of a vegan menu to traditional restaurants.
Leading Market Player
8.25 %
market share, House Foods Group Inc., 2022
The several variants of tofu being offered by the company and its broad distribution networks are responsible for its market growth, making it a larger market player.
The rising trend of veganism is expected to boost the sales of tofu
- The off-trade distribution channel accounted for the major share of the global tofu market in 2022. Due to the lower price of tofu, people prefer it as a more economically feasible option over meat alternatives, which has been driving its sales. The demand for plant-based protein products has increased over the last five years. With the concerns about health and animal welfare, many people have had to move to soy-based products to meet their protein requirements. There has been an increase in investments in supermarkets and convenience stores. For instance, 7-Eleven, one of the major tofu consumers with more than 16,000 stores across five Southeast Asian markets in 2022, is strengthening sales across the region, while Walmart has also invested a huge amount in Canada to open more stores and smoothen its delivery systems.
- The on-trade segment is anticipated to be the fastest-growing distribution channel during the forecast period, recording a CAGR of 10.32% by value. The sign-ups for the Veganuary campaign in 2022, where people eat vegan for the month of January, were over 629,000. People signed up from 228 countries and territories, and in 2021, there were 582,000 participants. This rise in the vegan trend had implications for food service operators to provide vegan dishes based on tofu. Moreover, vegan restaurants have also emerged across all regions.
- The online channel segment is projected to be the fastest-growing distribution channel for the sales of tofu globally. Consumers started shopping online due to the ease offered by digital payments, contactless delivery, and the availability of a wide range of products on one single platform at huge discounted prices. Moreover, the internet penetration rate was around 64.4% globally in 2022.
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Regional soybean production and consumption demand are the primary drivers of the market
- The region with the highest consumption of tofu in 2022 was Europe. The European tofu market registered a CAGR of 7.20% by value over 2017-22, owing to rising flexitarian and vegan populations and various government initiatives to encourage the consumption of meat substitutes. The European Commission set forth its strategies for assisting the European Union in becoming carbon neutral by 2050. The Commission has committed to investing USD 99.2 billion in the green transition between 2021 and 2027 as part of the European Green Deal. The plan aims for financial investments in plant-based and substitute proteins.
- Asia-Pacific is the fastest-growing region globally and is projected to register a value CAGR of 13.17% during the forecast period. The Asian market for tofu is anticipated to grow swiftly due to rising consumer and investor demand. China is observed to be the dominant country market in the region owing to its huge soybean production capacity, which is a major ingredient for manufacturing tofu. The Chinese government has expressed its aim to increase soybean production by 40%, to 23 million tonnes, over the period of 2022-26, thereby requiring significant reduction of imports and strengthening of food security in the country.
- North America is another promising region for the global tofu market and is observed to be the second-largest tofu consumer globally. In 2020, the Canadian government invested USD 73.2 million in plant-based proteins like tofu. The funding was allocated to Merit Functional Foods, a business specializing in transforming peas and canola from domestic sources into high-quality plant-based proteins like tofu and tempeh.
Global Tofu Market Trends
Inflation in soybean prices due to supply disruptions is having an effect on the market
- From 2017 to 2022, the price of tofu gradually rose by 2.10%, primarily due to increasing inflation and soybean costs, as soybeans are the primary component in manufacturing tofu. In major markets like North America, the rising demand led to an increase in the prices of tofu. More companies are entering the market, and sellers are engaging in the price game to secure buyers. Inflation in the United States had an impact on the cost of soybean products in the region. Soybean farmers in the United States increased the prices of the commodity due to labor shortages and increasing land rental costs, compounded by the weather uncertainty in soybean-producing countries.
- 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 has a higher price markup. Although cheaper options are available, Australian consumers have a higher preference for tofu made from Australian ingredients. The demand for tofu with the "Australian Grown Certified" label is high, while tofu made from organic soybeans is sold for a higher premium.
- Tofu prices increased by 3.41% between 2017 and 2022 across Europe, with an average Y-o-Y growth rate of 0.96%. The constantly surging production of soybeans in the region is a key reason for the nominal increase in the price of tofu. The price of tofu is also impacted by the overall food inflation in most parts of the region, mainly in Ukraine and Spain, accounting for shares of 22.4% and 10.12%, respectively, in terms of the region's soybean production. The destruction of agricultural land in Ukraine had a major impact on the soybean supply in the region.
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Tofu Industry Overview
The Tofu Market is fragmented, with the top five companies occupying 16.92%. The major players in this market are House Foods Group Inc., Kikkoman Corporation, Morinaga Milk Industry Co. Ltd, Pulmuone Corporate and Vitasoy International Holdings Ltd (sorted alphabetically).
Tofu Market Leaders
House Foods Group Inc.
Kikkoman Corporation
Morinaga Milk Industry Co. Ltd
Pulmuone Corporate
Vitasoy International Holdings Ltd
Other important companies include Eden Foods, Inc., Monde Nissin Corporation, PSC Corporation Limited, Taifun-Tofu GmbH, The Hain Celestial Group, Inc., Tofu Restaurant Co., Ltd..
*Disclaimer: Major Players sorted in alphabetical order.
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Tofu Market News
- February 2023: Morinaga Nutritional Foods acquired US plant-based company, Tofurky and its sister brand Moocho. Morinaga has been a tofu supplier for Tofurky products for 17 years. The acquisition of Tofurky and Moocho will help the company to strengthen the integrated supply chain and category growth for the brands.
- September 2022: Keystone Capital has signed a definitive agreement for House Foods Holding USA to acquire 100% of Keystone Natural Holdings LLC, a leading manufacturer of tofu and plant-based foods in North America. Through this acquisition, House Foods will expand its portfolio of value-added tofu and plant-based food products and accelerate its U.S. market expansion plans. The combined company will have eight manufacturing facilities across North America.
- July 2022: Kikkoman Corporation officially entered the Indian market by establishing its subsidiary in Mumbai, Kikkoman India Pvt. Ltd (KID).
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We offer a comprehensive and exhaustive set of data pointers. These cover global, regional, and country-level metrics that illustrate the fundamentals of the meat and meat substitutes industry. Clients can access in-depth market analysis through 45+ free charts. This analysis is based on the production of various meat and seafood types, as well as the prices of meat, meat substitutes, and different seafood types. We provide granular-level segmental information, supported by a repository of market data, trends, and expert analysis. Data and analysis on meat types, seafood types, meat substitute types, forms, distribution channels, and more are available. These are provided in the form of comprehensive reports as well as Excel-based data worksheets.
Tofu Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. INTRODUCTION
- 2.1 Study Assumptions & Market Definition
- 2.2 Scope of the Study
- 2.3 Research Methodology
3. KEY INDUSTRY TRENDS
-
3.1 Price Trends
- 3.1.1 Tofu
-
3.2 Regulatory Framework
- 3.2.1 Australia
- 3.2.2 Canada
- 3.2.3 China
- 3.2.4 France
- 3.2.5 Germany
- 3.2.6 India
- 3.2.7 Italy
- 3.2.8 Japan
- 3.2.9 Mexico
- 3.2.10 United Kingdom
- 3.2.11 United States
- 3.3 Value Chain & Distribution Channel Analysis
4. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
-
4.1 Distribution Channel
- 4.1.1 Off-Trade
- 4.1.1.1 Convenience Stores
- 4.1.1.2 Online Channel
- 4.1.1.3 Supermarkets and Hypermarkets
- 4.1.1.4 Others
- 4.1.2 On-Trade
-
4.2 Region
- 4.2.1 Africa
- 4.2.1.1 By Distribution Channel
- 4.2.1.2 By Country
- 4.2.1.2.1 Egypt
- 4.2.1.2.2 Nigeria
- 4.2.1.2.3 South Africa
- 4.2.1.2.4 Rest of Africa
- 4.2.2 Asia-Pacific
- 4.2.2.1 By Distribution Channel
- 4.2.2.2 By Country
- 4.2.2.2.1 Australia
- 4.2.2.2.2 China
- 4.2.2.2.3 India
- 4.2.2.2.4 Indonesia
- 4.2.2.2.5 Japan
- 4.2.2.2.6 Malaysia
- 4.2.2.2.7 South Korea
- 4.2.2.2.8 Rest of Asia-Pacific
- 4.2.3 Europe
- 4.2.3.1 By Distribution Channel
- 4.2.3.2 By Country
- 4.2.3.2.1 France
- 4.2.3.2.2 Germany
- 4.2.3.2.3 Italy
- 4.2.3.2.4 Netherlands
- 4.2.3.2.5 Russia
- 4.2.3.2.6 Spain
- 4.2.3.2.7 United Kingdom
- 4.2.3.2.8 Rest of Europe
- 4.2.4 Middle East
- 4.2.4.1 By Distribution Channel
- 4.2.4.2 By Country
- 4.2.4.2.1 Bahrain
- 4.2.4.2.2 Kuwait
- 4.2.4.2.3 Oman
- 4.2.4.2.4 Qatar
- 4.2.4.2.5 Saudi Arabia
- 4.2.4.2.6 United Arab Emirates
- 4.2.4.2.7 Rest of Middle East
- 4.2.5 North America
- 4.2.5.1 By Distribution Channel
- 4.2.5.2 By Country
- 4.2.5.2.1 Canada
- 4.2.5.2.2 Mexico
- 4.2.5.2.3 United States
- 4.2.5.2.4 Rest of North America
- 4.2.6 South America
- 4.2.6.1 By Distribution Channel
- 4.2.6.2 By Country
- 4.2.6.2.1 Argentina
- 4.2.6.2.2 Brazil
- 4.2.6.2.3 Rest of South America
5. COMPETITIVE LANDSCAPE
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
- 5.3 Company Landscape
-
5.4 Company Profiles (includes Global level Overview, Market level overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and analysis of Recent Developments)
- 5.4.1 Eden Foods, Inc.
- 5.4.2 House Foods Group Inc.
- 5.4.3 Kikkoman Corporation
- 5.4.4 Monde Nissin Corporation
- 5.4.5 Morinaga Milk Industry Co. Ltd
- 5.4.6 PSC Corporation Limited
- 5.4.7 Pulmuone Corporate
- 5.4.8 Taifun-Tofu GmbH
- 5.4.9 The Hain Celestial Group, Inc.
- 5.4.10 Tofu Restaurant Co., Ltd.
- 5.4.11 Vitasoy International Holdings Ltd
6. KEY STRATEGIC QUESTIONS FOR MEAT SUBSTITUTES INDUSTRY CEOS
7. APPENDIX
-
7.1 Global Overview
- 7.1.1 Overview
- 7.1.2 Porter’s Five Forces Framework
- 7.1.3 Global Value Chain Analysis
- 7.1.4 Market Dynamics (DROs)
- 7.2 Sources & References
- 7.3 List of Tables & Figures
- 7.4 Primary Insights
- 7.5 Data Pack
- 7.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- TOFU PRICE PER METRIC TON, USD, GLOBAL, 2017 - 2023
- Figure 2:
- VOLUME OF TOFU MARKET, METRIC TONS, GLOBAL, 2017 - 2029
- Figure 3:
- VALUE OF TOFU MARKET, USD, GLOBAL, 2017 - 2029
- Figure 4:
- VOLUME OF TOFU MARKET BY DISTRIBUTION CHANNEL, METRIC TONS, GLOBAL, 2017 - 2029
- Figure 5:
- VALUE OF TOFU MARKET BY DISTRIBUTION CHANNEL, USD, GLOBAL, 2017 - 2029
- Figure 6:
- VOLUME SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 7:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 8:
- VOLUME OF TOFU MARKET SOLD VIA OFF-TRADE, METRIC TONS, GLOBAL, 2017 - 2029
- Figure 9:
- VALUE OF TOFU MARKET SOLD VIA OFF-TRADE, USD, GLOBAL, 2017 - 2029
- Figure 10:
- VOLUME OF TOFU MARKET SOLD VIA OFF-TRADE CHANNELS, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 11:
- VALUE OF TOFU MARKET SOLD VIA OFF-TRADE CHANNELS, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 12:
- VOLUME OF TOFU MARKET SOLD VIA CONVENIENCE STORES, METRIC TONS, GLOBAL, 2017 - 2029
- Figure 13:
- VALUE OF TOFU MARKET SOLD VIA CONVENIENCE STORES, USD, GLOBAL, 2017 - 2029
- Figure 14:
- VALUE SHARE OF TOFU MARKET SOLD VIA CONVENIENCE STORES SPLIT BY REGION, %, GLOBAL, 2022 VS 2029
- Figure 15:
- VOLUME OF TOFU MARKET SOLD VIA ONLINE CHANNEL, METRIC TONS, GLOBAL, 2017 - 2029
- Figure 16:
- VALUE OF TOFU MARKET SOLD VIA ONLINE CHANNEL, USD, GLOBAL, 2017 - 2029
- Figure 17:
- VALUE SHARE OF TOFU MARKET SOLD VIA ONLINE CHANNEL SPLIT BY REGION, %, GLOBAL, 2022 VS 2029
- Figure 18:
- VOLUME OF TOFU MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS, METRIC TONS, GLOBAL, 2017 - 2029
- Figure 19:
- VALUE OF TOFU MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS, USD, GLOBAL, 2017 - 2029
- Figure 20:
- VALUE SHARE OF TOFU MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS SPLIT BY REGION, %, GLOBAL, 2022 VS 2029
- Figure 21:
- VOLUME OF TOFU MARKET SOLD VIA OTHERS, METRIC TONS, GLOBAL, 2017 - 2029
- Figure 22:
- VALUE OF TOFU MARKET SOLD VIA OTHERS, USD, GLOBAL, 2017 - 2029
- Figure 23:
- VALUE SHARE OF TOFU MARKET SOLD VIA OTHERS SPLIT BY REGION, %, GLOBAL, 2022 VS 2029
- Figure 24:
- VOLUME OF TOFU MARKET SOLD VIA ON-TRADE, METRIC TONS, GLOBAL, 2017 - 2029
- Figure 25:
- VALUE OF TOFU MARKET SOLD VIA ON-TRADE, USD, GLOBAL, 2017 - 2029
- Figure 26:
- VOLUME OF TOFU MARKET BY REGION, METRIC TONS, GLOBAL, 2017 - 2029
- Figure 27:
- VALUE OF TOFU MARKET BY REGION, USD, GLOBAL, 2017 - 2029
- Figure 28:
- VOLUME SHARE OF TOFU MARKET SPLIT BY REGION, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 29:
- VALUE SHARE OF TOFU MARKET SPLIT BY REGION, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 30:
- VOLUME OF TOFU MARKET BY DISTRIBUTION CHANNEL, METRIC TONS, AFRICA, 2017 - 2029
- Figure 31:
- VALUE OF TOFU MARKET BY DISTRIBUTION CHANNEL, USD, AFRICA, 2017 - 2029
- Figure 32:
- VOLUME SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, AFRICA, 2017 VS 2023 VS 2029
- Figure 33:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, AFRICA, 2017 VS 2023 VS 2029
- Figure 34:
- VOLUME OF TOFU MARKET BY COUNTRY, METRIC TONS, AFRICA, 2017 - 2029
- Figure 35:
- VALUE OF TOFU MARKET BY COUNTRY, USD, AFRICA, 2017 - 2029
- Figure 36:
- VOLUME SHARE OF TOFU MARKET SPLIT BY COUNTRY, %, AFRICA, 2017 VS 2023 VS 2029
- Figure 37:
- VALUE SHARE OF TOFU MARKET SPLIT BY COUNTRY, %, AFRICA, 2017 VS 2023 VS 2029
- Figure 38:
- VOLUME OF TOFU MARKET, METRIC TONS, EGYPT, 2017 - 2029
- Figure 39:
- VALUE OF TOFU MARKET, USD, EGYPT, 2017 - 2029
- Figure 40:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, EGYPT, 2022 VS 2029
- Figure 41:
- VOLUME OF TOFU MARKET, METRIC TONS, NIGERIA, 2017 - 2029
- Figure 42:
- VALUE OF TOFU MARKET, USD, NIGERIA, 2017 - 2029
- Figure 43:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, NIGERIA, 2022 VS 2029
- Figure 44:
- VOLUME OF TOFU MARKET, METRIC TONS, SOUTH AFRICA, 2017 - 2029
- Figure 45:
- VALUE OF TOFU MARKET, USD, SOUTH AFRICA, 2017 - 2029
- Figure 46:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, SOUTH AFRICA, 2022 VS 2029
- Figure 47:
- VOLUME OF TOFU MARKET, METRIC TONS, REST OF AFRICA, 2017 - 2029
- Figure 48:
- VALUE OF TOFU MARKET, USD, REST OF AFRICA, 2017 - 2029
- Figure 49:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, REST OF AFRICA, 2022 VS 2029
- Figure 50:
- VOLUME OF TOFU MARKET BY DISTRIBUTION CHANNEL, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 51:
- VALUE OF TOFU MARKET BY DISTRIBUTION CHANNEL, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 52:
- VOLUME SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 53:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 54:
- VOLUME OF TOFU MARKET BY COUNTRY, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 55:
- VALUE OF TOFU MARKET BY COUNTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 56:
- VOLUME SHARE OF TOFU MARKET SPLIT BY COUNTRY, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 57:
- VALUE SHARE OF TOFU MARKET SPLIT BY COUNTRY, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 58:
- VOLUME OF TOFU MARKET, METRIC TONS, AUSTRALIA, 2017 - 2029
- Figure 59:
- VALUE OF TOFU MARKET, USD, AUSTRALIA, 2017 - 2029
- Figure 60:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, AUSTRALIA, 2022 VS 2029
- Figure 61:
- VOLUME OF TOFU MARKET, METRIC TONS, CHINA, 2017 - 2029
- Figure 62:
- VALUE OF TOFU MARKET, USD, CHINA, 2017 - 2029
- Figure 63:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, CHINA, 2022 VS 2029
- Figure 64:
- VOLUME OF TOFU MARKET, METRIC TONS, INDIA, 2017 - 2029
- Figure 65:
- VALUE OF TOFU MARKET, USD, INDIA, 2017 - 2029
- Figure 66:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, INDIA, 2022 VS 2029
- Figure 67:
- VOLUME OF TOFU MARKET, METRIC TONS, INDONESIA, 2017 - 2029
- Figure 68:
- VALUE OF TOFU MARKET, USD, INDONESIA, 2017 - 2029
- Figure 69:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, INDONESIA, 2022 VS 2029
- Figure 70:
- VOLUME OF TOFU MARKET, METRIC TONS, JAPAN, 2017 - 2029
- Figure 71:
- VALUE OF TOFU MARKET, USD, JAPAN, 2017 - 2029
- Figure 72:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, JAPAN, 2022 VS 2029
- Figure 73:
- VOLUME OF TOFU MARKET, METRIC TONS, MALAYSIA, 2017 - 2029
- Figure 74:
- VALUE OF TOFU MARKET, USD, MALAYSIA, 2017 - 2029
- Figure 75:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, MALAYSIA, 2022 VS 2029
- Figure 76:
- VOLUME OF TOFU MARKET, METRIC TONS, SOUTH KOREA, 2017 - 2029
- Figure 77:
- VALUE OF TOFU MARKET, USD, SOUTH KOREA, 2017 - 2029
- Figure 78:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, SOUTH KOREA, 2022 VS 2029
- Figure 79:
- VOLUME OF TOFU MARKET, METRIC TONS, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 80:
- VALUE OF TOFU MARKET, USD, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 81:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, REST OF ASIA-PACIFIC, 2022 VS 2029
- Figure 82:
- VOLUME OF TOFU MARKET BY DISTRIBUTION CHANNEL, METRIC TONS, EUROPE, 2017 - 2029
- Figure 83:
- VALUE OF TOFU MARKET BY DISTRIBUTION CHANNEL, USD, EUROPE, 2017 - 2029
- Figure 84:
- VOLUME SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, EUROPE, 2017 VS 2023 VS 2029
- Figure 85:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, EUROPE, 2017 VS 2023 VS 2029
- Figure 86:
- VOLUME OF TOFU MARKET BY COUNTRY, METRIC TONS, EUROPE, 2017 - 2029
- Figure 87:
- VALUE OF TOFU MARKET BY COUNTRY, USD, EUROPE, 2017 - 2029
- Figure 88:
- VOLUME SHARE OF TOFU MARKET SPLIT BY COUNTRY, %, EUROPE, 2017 VS 2023 VS 2029
- Figure 89:
- VALUE SHARE OF TOFU MARKET SPLIT BY COUNTRY, %, EUROPE, 2017 VS 2023 VS 2029
- Figure 90:
- VOLUME OF TOFU MARKET, METRIC TONS, FRANCE, 2017 - 2029
- Figure 91:
- VALUE OF TOFU MARKET, USD, FRANCE, 2017 - 2029
- Figure 92:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, FRANCE, 2022 VS 2029
- Figure 93:
- VOLUME OF TOFU MARKET, METRIC TONS, GERMANY, 2017 - 2029
- Figure 94:
- VALUE OF TOFU MARKET, USD, GERMANY, 2017 - 2029
- Figure 95:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, GERMANY, 2022 VS 2029
- Figure 96:
- VOLUME OF TOFU MARKET, METRIC TONS, ITALY, 2017 - 2029
- Figure 97:
- VALUE OF TOFU MARKET, USD, ITALY, 2017 - 2029
- Figure 98:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, ITALY, 2022 VS 2029
- Figure 99:
- VOLUME OF TOFU MARKET, METRIC TONS, NETHERLANDS, 2017 - 2029
- Figure 100:
- VALUE OF TOFU MARKET, USD, NETHERLANDS, 2017 - 2029
- Figure 101:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, NETHERLANDS, 2022 VS 2029
- Figure 102:
- VOLUME OF TOFU MARKET, METRIC TONS, RUSSIA, 2017 - 2029
- Figure 103:
- VALUE OF TOFU MARKET, USD, RUSSIA, 2017 - 2029
- Figure 104:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, RUSSIA, 2022 VS 2029
- Figure 105:
- VOLUME OF TOFU MARKET, METRIC TONS, SPAIN, 2017 - 2029
- Figure 106:
- VALUE OF TOFU MARKET, USD, SPAIN, 2017 - 2029
- Figure 107:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, SPAIN, 2022 VS 2029
- Figure 108:
- VOLUME OF TOFU MARKET, METRIC TONS, UNITED KINGDOM, 2017 - 2029
- Figure 109:
- VALUE OF TOFU MARKET, USD, UNITED KINGDOM, 2017 - 2029
- Figure 110:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, UNITED KINGDOM, 2022 VS 2029
- Figure 111:
- VOLUME OF TOFU MARKET, METRIC TONS, REST OF EUROPE, 2017 - 2029
- Figure 112:
- VALUE OF TOFU MARKET, USD, REST OF EUROPE, 2017 - 2029
- Figure 113:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, REST OF EUROPE, 2022 VS 2029
- Figure 114:
- VOLUME OF TOFU MARKET BY DISTRIBUTION CHANNEL, METRIC TONS, MIDDLE EAST, 2017 - 2029
- Figure 115:
- VALUE OF TOFU MARKET BY DISTRIBUTION CHANNEL, USD, MIDDLE EAST, 2017 - 2029
- Figure 116:
- VOLUME SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, MIDDLE EAST, 2017 VS 2023 VS 2029
- Figure 117:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, MIDDLE EAST, 2017 VS 2023 VS 2029
- Figure 118:
- VOLUME OF TOFU MARKET BY COUNTRY, METRIC TONS, MIDDLE EAST, 2017 - 2029
- Figure 119:
- VALUE OF TOFU MARKET BY COUNTRY, USD, MIDDLE EAST, 2017 - 2029
- Figure 120:
- VOLUME SHARE OF TOFU MARKET SPLIT BY COUNTRY, %, MIDDLE EAST, 2017 VS 2023 VS 2029
- Figure 121:
- VALUE SHARE OF TOFU MARKET SPLIT BY COUNTRY, %, MIDDLE EAST, 2017 VS 2023 VS 2029
- Figure 122:
- VOLUME OF TOFU MARKET, METRIC TONS, BAHRAIN, 2017 - 2029
- Figure 123:
- VALUE OF TOFU MARKET, USD, BAHRAIN, 2017 - 2029
- Figure 124:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, BAHRAIN, 2022 VS 2029
- Figure 125:
- VOLUME OF TOFU MARKET, METRIC TONS, KUWAIT, 2017 - 2029
- Figure 126:
- VALUE OF TOFU MARKET, USD, KUWAIT, 2017 - 2029
- Figure 127:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, KUWAIT, 2022 VS 2029
- Figure 128:
- VOLUME OF TOFU MARKET, METRIC TONS, OMAN, 2017 - 2029
- Figure 129:
- VALUE OF TOFU MARKET, USD, OMAN, 2017 - 2029
- Figure 130:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, OMAN, 2022 VS 2029
- Figure 131:
- VOLUME OF TOFU MARKET, METRIC TONS, QATAR, 2017 - 2029
- Figure 132:
- VALUE OF TOFU MARKET, USD, QATAR, 2017 - 2029
- Figure 133:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, QATAR, 2022 VS 2029
- Figure 134:
- VOLUME OF TOFU MARKET, METRIC TONS, SAUDI ARABIA, 2017 - 2029
- Figure 135:
- VALUE OF TOFU MARKET, USD, SAUDI ARABIA, 2017 - 2029
- Figure 136:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, SAUDI ARABIA, 2022 VS 2029
- Figure 137:
- VOLUME OF TOFU MARKET, METRIC TONS, UNITED ARAB EMIRATES, 2017 - 2029
- Figure 138:
- VALUE OF TOFU MARKET, USD, UNITED ARAB EMIRATES, 2017 - 2029
- Figure 139:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, UNITED ARAB EMIRATES, 2022 VS 2029
- Figure 140:
- VOLUME OF TOFU MARKET, METRIC TONS, REST OF MIDDLE EAST, 2017 - 2029
- Figure 141:
- VALUE OF TOFU MARKET, USD, REST OF MIDDLE EAST, 2017 - 2029
- Figure 142:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, REST OF MIDDLE EAST, 2022 VS 2029
- Figure 143:
- VOLUME OF TOFU MARKET BY DISTRIBUTION CHANNEL, METRIC TONS, NORTH AMERICA, 2017 - 2029
- Figure 144:
- VALUE OF TOFU MARKET BY DISTRIBUTION CHANNEL, USD, NORTH AMERICA, 2017 - 2029
- Figure 145:
- VOLUME SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, NORTH AMERICA, 2017 VS 2023 VS 2029
- Figure 146:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, NORTH AMERICA, 2017 VS 2023 VS 2029
- Figure 147:
- VOLUME OF TOFU MARKET BY COUNTRY, METRIC TONS, NORTH AMERICA, 2017 - 2029
- Figure 148:
- VALUE OF TOFU MARKET BY COUNTRY, USD, NORTH AMERICA, 2017 - 2029
- Figure 149:
- VOLUME SHARE OF TOFU MARKET SPLIT BY COUNTRY, %, NORTH AMERICA, 2017 VS 2023 VS 2029
- Figure 150:
- VALUE SHARE OF TOFU MARKET SPLIT BY COUNTRY, %, NORTH AMERICA, 2017 VS 2023 VS 2029
- Figure 151:
- VOLUME OF TOFU MARKET, METRIC TONS, CANADA, 2017 - 2029
- Figure 152:
- VALUE OF TOFU MARKET, USD, CANADA, 2017 - 2029
- Figure 153:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, CANADA, 2022 VS 2029
- Figure 154:
- VOLUME OF TOFU MARKET, METRIC TONS, MEXICO, 2017 - 2029
- Figure 155:
- VALUE OF TOFU MARKET, USD, MEXICO, 2017 - 2029
- Figure 156:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, MEXICO, 2022 VS 2029
- Figure 157:
- VOLUME OF TOFU MARKET, METRIC TONS, UNITED STATES, 2017 - 2029
- Figure 158:
- VALUE OF TOFU MARKET, USD, UNITED STATES, 2017 - 2029
- Figure 159:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, UNITED STATES, 2022 VS 2029
- Figure 160:
- VOLUME OF TOFU MARKET, METRIC TONS, REST OF NORTH AMERICA, 2017 - 2029
- Figure 161:
- VALUE OF TOFU MARKET, USD, REST OF NORTH AMERICA, 2017 - 2029
- Figure 162:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, REST OF NORTH AMERICA, 2022 VS 2029
- Figure 163:
- VOLUME OF TOFU MARKET BY DISTRIBUTION CHANNEL, METRIC TONS, SOUTH AMERICA, 2017 - 2029
- Figure 164:
- VALUE OF TOFU MARKET BY DISTRIBUTION CHANNEL, USD, SOUTH AMERICA, 2017 - 2029
- Figure 165:
- VOLUME SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, SOUTH AMERICA, 2017 VS 2023 VS 2029
- Figure 166:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, SOUTH AMERICA, 2017 VS 2023 VS 2029
- Figure 167:
- VOLUME OF TOFU MARKET BY COUNTRY, METRIC TONS, SOUTH AMERICA, 2017 - 2029
- Figure 168:
- VALUE OF TOFU MARKET BY COUNTRY, USD, SOUTH AMERICA, 2017 - 2029
- Figure 169:
- VOLUME SHARE OF TOFU MARKET SPLIT BY COUNTRY, %, SOUTH AMERICA, 2017 VS 2023 VS 2029
- Figure 170:
- VALUE SHARE OF TOFU MARKET SPLIT BY COUNTRY, %, SOUTH AMERICA, 2017 VS 2023 VS 2029
- Figure 171:
- VOLUME OF TOFU MARKET, METRIC TONS, ARGENTINA, 2017 - 2029
- Figure 172:
- VALUE OF TOFU MARKET, USD, ARGENTINA, 2017 - 2029
- Figure 173:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, ARGENTINA, 2022 VS 2029
- Figure 174:
- VOLUME OF TOFU MARKET, METRIC TONS, BRAZIL, 2017 - 2029
- Figure 175:
- VALUE OF TOFU MARKET, USD, BRAZIL, 2017 - 2029
- Figure 176:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, BRAZIL, 2022 VS 2029
- Figure 177:
- VOLUME OF TOFU MARKET, METRIC TONS, REST OF SOUTH AMERICA, 2017 - 2029
- Figure 178:
- VALUE OF TOFU MARKET, USD, REST OF SOUTH AMERICA, 2017 - 2029
- Figure 179:
- VALUE SHARE OF TOFU MARKET SPLIT BY DISTRIBUTION CHANNEL, %, REST OF SOUTH AMERICA, 2022 VS 2029
- Figure 180:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, GLOBAL, 2020 - 2023
- Figure 181:
- MOST ADOPTED STRATEGIES, COUNT, GLOBAL, 2020 - 2023
- Figure 182:
- VALUE SHARE OF MAJOR PLAYERS, %, GLOBAL, 2022
Tofu Industry Segmentation
Off-Trade, On-Trade are covered as segments by Distribution Channel. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.
- The off-trade distribution channel accounted for the major share of the global tofu market in 2022. Due to the lower price of tofu, people prefer it as a more economically feasible option over meat alternatives, which has been driving its sales. The demand for plant-based protein products has increased over the last five years. With the concerns about health and animal welfare, many people have had to move to soy-based products to meet their protein requirements. There has been an increase in investments in supermarkets and convenience stores. For instance, 7-Eleven, one of the major tofu consumers with more than 16,000 stores across five Southeast Asian markets in 2022, is strengthening sales across the region, while Walmart has also invested a huge amount in Canada to open more stores and smoothen its delivery systems.
- The on-trade segment is anticipated to be the fastest-growing distribution channel during the forecast period, recording a CAGR of 10.32% by value. The sign-ups for the Veganuary campaign in 2022, where people eat vegan for the month of January, were over 629,000. People signed up from 228 countries and territories, and in 2021, there were 582,000 participants. This rise in the vegan trend had implications for food service operators to provide vegan dishes based on tofu. Moreover, vegan restaurants have also emerged across all regions.
- The online channel segment is projected to be the fastest-growing distribution channel for the sales of tofu globally. Consumers started shopping online due to the ease offered by digital payments, contactless delivery, and the availability of a wide range of products on one single platform at huge discounted prices. Moreover, the internet penetration rate was around 64.4% globally in 2022.
| Distribution Channel | Off-Trade | Convenience Stores | |
| Online Channel | |||
| Supermarkets and Hypermarkets | |||
| Others | |||
| Distribution Channel | On-Trade | ||
| Region | Africa | By Distribution Channel | |
| By Country | Egypt | ||
| Nigeria | |||
| South Africa | |||
| Rest of Africa | |||
| Region | Asia-Pacific | By Distribution Channel | |
| By Country | Australia | ||
| China | |||
| India | |||
| Indonesia | |||
| Japan | |||
| Malaysia | |||
| South Korea | |||
| Rest of Asia-Pacific | |||
| Region | Europe | By Distribution Channel | |
| By Country | France | ||
| Germany | |||
| Italy | |||
| Netherlands | |||
| Russia | |||
| Spain | |||
| United Kingdom | |||
| Rest of Europe | |||
| Region | Middle East | By Distribution Channel | |
| By Country | Bahrain | ||
| Kuwait | |||
| Oman | |||
| Qatar | |||
| Saudi Arabia | |||
| United Arab Emirates | |||
| Rest of Middle East | |||
| Region | North America | By Distribution Channel | |
| By Country | Canada | ||
| Mexico | |||
| United States | |||
| Rest of North America | |||
| Region | South America | By Distribution Channel | |
| By Country | Argentina | ||
| Brazil | |||
| Rest of South America |
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Market Definition
- Meat Substitutes - It is a food product made from vegetarian or vegan ingredients, eaten as a replacement for meat. Meat substitutes typically approximate qualities of specific types of meat, such as mouthfeel, flavor, appearance, or chemical characteristics.
- Tempeh - It is a high protein Asian food prepared by fermenting soybeans with a Rhizopus.
- Textured Vegetable Protein - Food items made from consumable protein sources like soybean, pea, wheat, hemp, etc., are known as textured vegetable proteins. Each unit will withstand hydration during cooking and other processes used in preparing the food for consumption because it has structural integrity and a distinguishable texture.
- Tofu - Tofu is a soft food product prepared by treating soybean milk with coagulants.
| Keyword | Definition |
|---|---|
| A5 | It is a Japanese grading system for beef. The 'A' means the carcass yield is the highest possible and the numeric rating relates to beef marbling, color and brightness of the flesh, its texture and color, luster, and fat quality. A5 is the highest mark wagyu beef can score. |
| Abbatoir | It is another name for a slaughterhouse and refers to the premise used for or in connection with the slaughter of animals whose meat is intended for human consumption. |
| Acute Hepatopancreatic Necrosis Disease (AHPND) | It is a disease that affects shrimp and is characterized by high mortalities, in many cases reaching 100% within 30-35 days of stocking grow-out ponds. |
| African Swine Fever (ASF) | It is a highly contagious viral disease of pigs caused by a double-stranded DNA virus in the Asfarviridae family. |
| Albacore Tuna | It is one of the smallest species of tuna found in the six distinct stocks known globally in the Atlantic, Pacific, and Indian oceans, as well as the Mediterranean Sea. |
| Angus beef | It is beef derived from a specific breed of cattle indigenous to Scotland. It requires certification from the American Angus Association to receive the "Certified Angus Beef" quality mark |
| Bacon | It is salted or smoked meat that comes from the back or sides of a pig |
| Black Angus | It is beef derived from a black-hided breed of cows that don't have horns. |
| Bologna | It is an Italian smoked sausage made of meat, typically large and made from pork, beef or veal. |
| Bovine spongiform encephalopathy (BSE) | It is a progressive neurological disorder of cattle that results from infection by an unusual transmissible agent called a prion. |
| Bratwurst | It refers to a type of German sausage made from pork, beef or veal. |
| BRC | British Retail Consortium |
| Brisket | It is a cut of meat from the breast or lower chest of beef or veal. The beef brisket is one of the nine beef primal cuts. |
| Broiler | It refers to any chicken (Gallus domesticus) that is bred and raised specifically for meat production. |
| Bushel | It is a unit of measurement for grains and pulses. 1 bushel = 27.216 kg |
| Carcass | It refers to the dressed body of a meat animal from which butchers trim the meat |
| CFIA | Canadian Food Inspection Agency |
| Chicken Tender | It refers to chicken meat prepared from the pectoralis minor muscles of a chicken bird. |
| Chuck Steak | It refers to a cut of beef that is part of the chuck primal, which is a large section of meat from the shoulder area of a cow |
| Corned Beef | It refers to beef brisket cured in brine and boiled, typically served cold. |
| CWT | Also known as a hundredweight, it is a unit of measurement used to define the quantity of meat. 1 CWT = 50.80 kg |
| Drumstick | It refers to a chicken leg without the thigh. |
| EFSA | European Food Safety Authority |
| ERS | Economic Research Service of the USDA |
| Ewe | It is an adult female sheep. |
| FDA | Food and Drug Administration |
| Fillet Mignon | It is a cut of meat taken from the smaller end of the tenderloin. |
| Flank Steak | It is a cut of beef steak taken from the flank, which lies forward of the rear quarter of a cow. |
| Foodservice | It refers to the part of the food industry which includes businesses, institutions, and companies which prepare meals outside the home. It includes restaurants, school and hospital cafeterias, catering operations, and many other formats. |
| Forage | It refers to animal feed. |
| Foreshank | It is the upper part of the foreleg of cattle |
| Franks | Also known as frankfurter or Würstchen, it is a type of highly seasoned smoked sausage popular in Austria and Germany. |
| FSANZ | Food Standards Australia New Zealand |
| FSIS | Food Safety and Inspection Service |
| FSSAI | Food Safety and Standards Authority of India |
| Gizzard | It refers to an organ found in the digestive tract of birds. It is also called the mechanical stomach of a bird. |
| Gluten | It is a family of proteins found in grains, including wheat, rye, spelt, and barley |
| Grain-fed beef | It is beef derived from cattle that have been fed a diet supplemented with soy and corn and other additives. Grainfed cows can also be given antibiotics and growth hormones to fatten them up more quickly. |
| Grass-fed beef | It is beef derived from cattle that have only been fed grass as feed. |
| Ham | It refers to the pork meat taken from the leg of a pig. |
| HoReCa | Hotels, Restaurants and Cafes |
| Jerky | It is lean trimmed meat that has been cut into strips and dried (dehydrated) to prevent spoilage. |
| Kobe Beef | It is Wagyu beef specifically from the Kuroge Washu breed of cows in Japan. To be classified as Kobe beef, the cow must have been born, raised, and slaughtered within the Hyōgo prefecture in the city of Kobe in Japan. |
| Liverwurst | It is type of German sausage made from beef or pork liver. |
| Loin | It refers to the sides between the lower ribs and pelvis, and the lower part of the back of a cow. |
| Mortadella | It is a large Italian sausage or luncheon meat made of finely hashed or ground heat-cured pork, which incorporates at least 15% small cubes of pork fat. |
| Pastrami | It refers to a highly seasoned smoked beef, typically served in thin slices. |
| Pepperoni | It is an American variety of spicy salami made from cured meat. |
| Plate | It refers to a forequarter cut from the belly of a cow, just below the rib cut. |
| Porcine reproductive and respiratory syndrome (PRRS) | It is a disease occurring in swine causing late-term reproductive failure and severe pneumonia in neonatal pigs. |
| Primal cuts | It refers to the major sections of the carcass. |
| Quorn | It is a meat substitute product prepared using mycoprotein as an ingredient, in which the fungus culture is dried and mixed with egg albumen or potato protein, which acts as a binder, and then is adjusted in texture and pressed into various forms. |
| Ready-to-Cook (RTC) | It refers to food products that include all of the ingredients, where some preparation or cooking is required through a process that is given on the package. |
| Ready-to-Eat (RTE) | It refers to a food product prepared or cooked in advance, with no further cooking or preparation required before being eaten |
| Retort Packaging | It is a process of aseptic packaging food in which food is filled into a pouch or metal can, sealed, and then heated to extremely high temperatures, rendering the product commercially sterile. |
| Round Steak | It refers to a beef steak from the the rear leg of the cow. |
| Rump Steak | It refers to a cut of beef derived from the division between the leg and the chine. |
| Salami | It is a cured sausage consisting of fermented and air-dried meat. |
| Saturated fat | It is a type of fat in which the fatty acid chains have all single bonds. It is generally considered unhealthy. |
| Sausage | It is a meat product made of finely chopped and seasoned meat, which may be fresh, smoked, or pickled and which is then usually stuffed into a casing. |
| Scallop | It is an edible shellfish that is a mollusk with a ribbed shell in two parts. |
| Seitan | It is a plant-based meat substitute made out of wheat gluten. |
| Self-service kios | It refers to a self-order point-of-sale (POS) system through which customers place and pay for their own orders at kiosks, enabling totally contactless and frictionless service. |
| Sirloin | It is a cut of beef from the bottom and side parts of a cow's back. |
| Surimi | It is a paste made from deboned fish |
| Tenderloin | It refers to a cut of beef consisting of the entire tenderloin muscle of a cow |
| Tiger Shrimp | It refers to a large shrimp variety from the Indian and Pacific oceans |
| Trans fat | Also called trans-unsaturated fatty acids or trans fatty acids, it is a type of unsaturated fat that naturally occurs in small amounts in meat. |
| Vannamei shrimp | It refers to tropical prawns and shrimp that are farmed in areas near the equator, generally along the coast in artificial ponds. |
| Wagyu Bee | It is beef derived from any of four strains of a breed of black or red Japanese cattle that are valued for their highly marbled meat. |
| Zoosanitary | It refers to the cleanliness of animals or animal product |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step 1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set, and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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