“Tofu Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global Tofu Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.
Top-Listed Players in Tofu Market Research Report 2019-2023:
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Tofu market reports provide a comprehensive overview of the worldwide market size and share. Tofu market data reports also provide a 5-year historical, forecast for the sector, and include data on social-economic data of global. Key stakeholders can consider statistics, tables & figures mentioned in this report for strategic planning which lead to the success of the organization.
Overview of Tofu Market Report:
The global tofu market size is expected to register a CAGR of 4.05% during the forecast period 2018-2023. Several companies and their scientists are working hard for developing a range of meat free protein products, often called as “synthetic meats” or “alternative meats”.
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.
According to 2017 data, Asia Pacific dominated the global tofu market in terms of revenue while US leads the market growth specifically due to shifting lifestyle patterns. 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.
â¢ 2017- A plant based condiment manufacturing company Hampton Creek recently revealed that it has been developing technology for producing lab made meat often referred as âclean meatâ. Once such products will be launched in market, there will be high competition and growth for tofu market.
â¢ 2017- Hain Celestial established partnership with Hain Tilda, India to manufacture, market and distribute its product in various categories. Also, Universal Robina Corporation (URC) has entered into a joint venture with the Vitasoy Group of Hong Kong to explore the market potential of plant-based sustainable beverages in the Philippines.
Major players â BARISTA, GLORIA JEANS, HONEST COFFEE COMPANY, JACOBS DOUWE EGBERTS, LAVAZZA, MCCAFE (MCDONALDS), MICHELS PATISSERIE, NESTLÃ, STARBUCKS and THE COFFEE CLUB, among others.
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Reasons to Purchase this Report
Valuable Points from Tofu Market Research Report 2019-2023:
- A complete background analysis, which includes a valuation of the parental Tofu Market.
- Significant changes in Market dynamics.
- Tofu Market segmentation according to Top Regions.
- Current, Historical, and projected size of the Tofu Market from the viewpoint of both value and volume.
- Reporting and assessment of recent industry developments.
- Tofu Market shares and strategies of key Manufacturers.
- Emerging Specific segments and regional for Tofu Market.
- An objective valuation of the trajectory of the Market.
- Recommendations to Top Companies for reinforcement their foothold in the Market.
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Highlights of the following key factors:
- Business description –A detailed description of the company’s operations and business divisions.
- Corporate strategy –Analyst’s summarization of the company’s business strategy.
- SWOT Analysis –A detailed analysis of the company’s strengths, weakness, opportunities, and threats.
- Company history –Progression of key events associated with the company.
- Major products and services –A list of major products, services, and brands of the company.
- Key competitors –A list of key competitors to the company.
- Important locations and subsidiaries –A list and contact details of key locations and subsidiaries of the company.
- Detailed financial ratios for the past five years –The latest financial ratios derived from the annual financial statements published by the company with 5 years history.
Top Most Regions Covered In Tofu Market Research Report 2019-2023:
Conclusively, this report will provide you a clear view of each fact of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.
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