Global Tofu Market 2017-2021
Tofu is prepared by coagulating soy milk and then pressing the resulting curds into soft white blocks. Tofu can be soft, silken, firm and extra firm. It has a subtle flavor and can be used in sweet and savory dishes. Tofu is a naturally gluten-free and low-calorie food. It contains no cholesterol and is an excellent source of protein.
Technavio’s analysts forecast the global tofu market to grow at a CAGR of 4.02% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global tofu market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Tofu Market 2017-2021
Technavio recognizes the following companies as the key players in the global tofu market: Hain Celestial, House Foods Group, Hügli Holding, MORINAGA, Pulmuone and VITASOY.
Other Prominent Vendors in the market are: Amy's Kitchen, Eden Foods, Kikkoman, San Jose Tofu, The Nisshin OilliO and Tofurky.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing demand for plant protein nutrients. There is increasing demand for plant protein nutrients. The growing awareness among consumers about the health benefits of such nutrients has led to the increasing growth of the soy protein ingredients market.”
According to the report, one driver in the market is health benefits of tofu. The growing awareness among consumers about the health benefits of plant-based nutrients such as soy-based foods is driving the global tofu market. Tofu is one of the world's most concentrated sources of high-quality vegetable protein. The frozen, dried tofu has twice the protein of beef, fish, and chicken, and negligible cholesterol levels.
Further, the report states that one challenge in the market is fluctuating prices of soy. The widening gap between the demand and supply in recent years has increased the costs of raw materials substantially. Any surge in the price of raw materials, such as soy, not only increases the manufacturing cost but leads to reduced profit margins for vendors. This factor, along with the need to sustain in the competitive market, influences manufacturers to experiment with inexpensive substitutes.
Hain Celestial, House Foods Group, Hügli Holding, MORINAGA, Pulmuone, VITASOY, Amy's Kitchen, Eden Foods, Kikkoman, San Jose Tofu, The Nisshin OilliO and Tofurky.
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