Fermented Bean Curd Market Type (White Fermented Bean Curd, Red Fermented Bean Curd) Distribution Channel (Supermarkets & Hypermarkets, Grocery Stores, Online, Specialty Stores) – Ukraine War, Future Prospects And Competitive Analysis, 2016 - 2028

Fermented bean curd is used as a condiment in preparing a dipping sauce or a vital ingredient for dishes like plain steamed buns, congee, and porridge. It can also be eaten plainly alongside boiled rice or in salads, stews, casseroles, stir-fries, and curries.

The global Fermented Bean Curd market generated over USD 626.41 million in 2021. It is expected to exhibit a CAGR of over 5.75% during the forecast period to reach over USD 940.92 million by the end of 2028. In contrast, the cumulative growth opportunity offered by the global Fermented Bean Curd market stood above USD 5,617.52 million for the analysis period ranging from 2022 to 2028.     

fermented-bean-curd-market

Interesting Facts about Fermented Bean Curd Industry

  • Fermented Bean Curd is also popularly known as fermented tofu
  • Fermented Bean Curd originated from East Asian countries
  • The flavor of Red Fermented Bean Curd is Stronger than White Fermented Bean Curd
  • Although not medically proven, Fermented Bean Curd has been assumed to be beneficial for diabetes mellitus, blood pressure, cardiac disorders, and cancer-related issues
  • If preserved well, Fermented Bean Curd can last up to six months

The Impact of Covid’19 on the Fermented Bean Curd Market 

The international fermented bean curd market experienced a tremendous and impressive development during the pandemic. As health consciousness and the need for clean eating skyrocketed, the demand for healthier dietary essentials, including the need for fermented bean curd, increased.

People started concentrating more on clean eating, and the number of vegan-friendly and vegetarian populations increased massively. These elements pushed fermented bean curd to become a staple in several global households, expanding global consumption to reach more significant milestones. 

White Fermented Bean Curd to Dominate the Demand

White Fermented Bean Curd and Red Fermented Bean Curd are two significant types of Fermented Bean Curd. White Fermented Bean Curd segment dominated the demand with over 55% share in 2021. At the same time, Red Fermented Bean Curd will also likely keep its significant global market share. 

Supermarkets & Hypermarkets to Dominate the Demand

Supermarkets & Hypermarkets, Grocery Stores, Online, Specialty Stores, and Others are major distribution channel segments of the global Fermented Bean Curd market. Supermarkets & Hypermarkets accounted for the largest share of revenue generated through distribution channels. It held over 35% share in 2021. While grocery stores also occupied a significant market position and are likely to exhibit a rapid growth rate over the years.

Opportunities and Drivers of the International Fermented Bean Curd Market 

Numerous drivers are assisting the growth and demand for fermented bean curd. Firstly, as mentioned above, more people are turning vegan every day, raising the use of vegan substitutes. As a result, fermented bean curd is a vegetarian alternative to cheese, gaining popularity in several cuisines globally.

In addition, the expansion of condiments, bakery items, and microwavable foods like curries and stews are further causing high demand for fermented bean curd. Fermented bean curd is becoming a star in several wholesome dishes like stir-fries. People relying on easy-to-prepare foods urge manufacturers to supply more of the ingredient.

Perhaps the most noteworthy driver for the global fermented bean curd market is the growing awareness of the health benefits of the superfood. Technological and scientific advancements opening doors for extensive R&D projects shed further light on the benefits of consuming fermented bean curd.

It’s packed with nutrition, can maintain blood pressure, lower the risks for coronary heart sickness, and prevent osteoporosis. With the public prioritizing their wellbeing and fitness amidst the post-pandemic times, the demand for fermented bean curd is expected to escalate even more. 

Major Hurdles for the Growth of Fermented Bean Curd Market 

Even though awareness of fermented bean curd and its uses increases, several smaller players and less-developed nations remain oblivious to the curd's potential. That poses a massive challenge to the growth of the fermented bean curd market. In addition, a significant portion of the world's taste palettes still prefer refined- and non-vegan- ingredients like cheese and meat.

Additionally, even though packed with healthy benefits, regular and prolonged consumption of fermented bean curd can be harmful to the human body. These few constraints prevent fermented bean curd's global demands from boosting further. 

The Asia Pacific Held over 50% share in Global Fermented Bean Curd Market

Fermented Bean Curd is originally part of East and South East Asian cuisine. Fermented Bean Curd is very popular in this region. The Asia Pacific accounted for almost over 55% share of total revenue generated by the global Fermented Bean Curd market. China, South Korea, Japan, and Asian countries are major mainstream markets for the large chunk of revenue generated by the global Fermented Bean Curd market. While, North America and Europe hold smaller market shares, followed by Latin America, Middle East & Africa. Ukraine and Russia war will have little impact on the growth of the global Fermented Bean Curd market. 

Chengdu Baibaibei Food Co., Ltd., Chiali Food Co., Ltd, ENG LEE SENG Marketing Holdings(M) SDN BHD, Guiyang Taihe Capsicum products Co., Ltd, Lee Kum Kee, Liuyang Lige Special Food Co., Ltd, Shenzhen Yongmiao Foodstuffs Co., Ltd and Zhuhai Jialin Food Co., Ltd are significant players in global Fermented Bean Curd market.

Frequently asked questions about global Fermented Bean Curd industry

Like other industries, Fermented Bean Curd market also suffered from COVID 19 pandemic which resulted into decline of over 8.43% in revenue generated in 2020

Asia Pacific is the largest regional market with highest share in the total volume of Fermented Bean Curd consumed in 2021

Growing popularity of Fermented Bean Curd coupled with rising adoption as a vegan alternative is driving the demand for Fermented Bean Curd

White Fermented Bean Curd segment dominated the Fermented Bean Curd market in 2021 with over 75% share

Grocery Stores segment was the largest application of Fermented Bean Curd in 2021 with over 25% share

Fermented Bean Curd Report Scope

Report Attribute Details
Market Value in 2021 USD 626.48 million
Market Value in 2028 USD 940.92 million
CAGR 5.75% between 2021 and 2028
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Published Date:  May 2022
Category:  Food & Beverage
Report ID:   60536
Report Format:   PDF
Pages:   128
Rating:    4.5 (50)
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