Fried Bean Curd Market Size, Share, Growth, and Industry Analysis, By Type (PVC Panels, MDF Panels, Wood Panels, Gypsum Panels & Others), By Application (Supermarket, Convenience Store, Restaurant and Hotel, Snack Bar & Others) and Regional Forecast to 2032

FRIED BEAN CURD MARKET REPORT OVERVIEW

The global Fried Bean Curd Market size was USD 604.64 million in 2023 and the market is projected to touch USD 833.69 million by 2032, exhibiting a CAGR of 5.50% during the forecast period.

Tofu, or Fried Bean Curd, is one of the most common and famous foods in many cultures, especially in Asian food. Derived from soyabean, this food item is produced by coagulating soy milk, followed by the churning out of curd and the formation of blocks. The fried version is characterised by crispy golden-brown skin with a succulent creamy texture in the centre, which provides the consumers with the kind of contrast they will be looking for. It is often recommended for its wonderful property of soaking other flavours from other foods and sauces that accompany it, such as fried, soups, salads, etc.

COVID-19 Impact: Market Growth Restrained due to Slow Procurement of Raw Materials

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

This market has suffered several issues due to COVID-19. The disruption affected the supply chain and made the procurement of raw materials slow, thus resulting in shortages and high costs. Further, restrictions on dine-out occasions as well as shutdowns of restaurants reduced the demand from the food service market. The social distancing measures, namely, lockdowns and restrictions, impacted production facilities by forcing them to stop or reduce operations.

LATEST TRENDS

"Healthy and Environmentally Friendly Products to Propel the Market Growth"

New modern tendencies concerning this market indicate an increasing demand for healthy and environmentally friendly products. There is a trend of people going vegan and looking for protein sources; this tofu is taken as healthier than the usual meats. People are also paying attention to the organic and GMO-free products; many brands are creating products with less preservatives and recycling packing materials. The new products and techniques such as pre-flavoured or pre-cooked is helping to address the busy lifestyles.

MARKET SEGMENTATION

By Type

Based on type the market can be categorized into PVC Panels, MDF Panels, Wood Panels, Gypsum Panels & Others

• Firm Tofu: Fine and close together, it maintains its form as it is during the preparation of food. Suitable for BBQ, wok, frying pan, or even normal flat pan. Used for its characteristic of absorbing the flavours as well as its ability to retain its shape.
• Soft Tofu: Comb, tender, and slippery, with more water added. It is perfect for use in soups and smoothies and respectably for dressings. It is especially popular for its rich mouthfeel, and it can easily be incorporated into breading and puree mixes.

By Application

Based on application the market can be categorized into Supermarket, Convenience Store, Restaurant and Hotel, Snack Bar & Others

• Supermarket: These delicacies are available in a wide variety of packaging types. Customers who want easy access and buy in large quantities.
• Convenience Store: Pre-packed and re-sealable sachets and convenient single-serving packages. Those who are looking for convenience and something quick and easy to eat, be it for breakfast, lunch, or snack.
• Restaurant and Hotel: To offer large quantities of quality Fried Bean Curd to support various food preparations. Mass food providers, such as chefs, seek better quality and more exquisite products to use in preparing meals.
• Snack Bar: Individual, easily transportable snacks. Those individuals who would prefer to make a quick snack stop while dining as they take their meals.

DRIVING FACTORS

"Rising Health Consciousness to Expand the Market"

One of the key driving factors of Fried Bean Curd Market growth is the Rising Health Consciousness. More and more people are changing their perception about vegan foods, and this food has all the nutritional value it needs, and the feature of being high in protein and low in fat is an added advantage.

"Growing Popularity of Plant-Based Diets to Advance the Market"

Increased adoption of vegetarian and vegan diets contributes to the growth of the market and innovation in the decedent product, where this food is an example of a plant-protein-based product.

RESTRAINING FACTOR

"Lack of Awareness of the Customer to Pose Potential Impediments on this Market"

An important threat that this market faces is the lack of awareness of the customer on this product or how this product can be used in a number of recipes, which is a constraint to its consumption.

REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America to Dominate the Market due to the Growing Adoption of Plant-Based Diets"

North America has emerged as the most dominant region in the Fried Bean Curd Market share due to high demand arising from the growing adoption of plant-based diets and humanitarian qualities of tenders. The region has good distribution networks of retail and food service outlets through which these products can be marketed effectively with the help of available outright stores, health food stores, and speciality stores. Moreover, there is a diverse segment of cuisines in North America, and development in food processing also influenced the higher consumption of this segment and leadership in the market share.

KEY INDUSTRY PLAYERS

"Key Players Transforming the Fried Bean Curd Market through Research and Development"

This ensures constant innovation of this product by the key industrial players, quality of the product, and lastly, market distribution of this product. To moreover adapt with the preferences of the consumers, these companies allocate handsome amounts in research and development to launch new flavours, textures, and innovative packaging methods. Due to their sound marketing strategies and affiliations with retail outlets and food processors, their products gain visibility and are easily accessed by consumers.

TOP 5 INDUSTRY PLAYERS

• Pulmuone (South Korea)
• Sagamiya Foods (Japan)
• House Foods (Japan)
• CJ CheilJedang (South Korea)
• HERNGYIH (Taiwan)

INDUSTRIAL DEVELOPMENT

2024: Currently, Impossible Foods has grown to manufacture plant-based fried bean curd that resembles the traditional fried tofu in terms of taste as well as feel. This has a reach to vegetarians and meat lovers, which expands the market for this food and makes impossible foods relevant in the plant-based food market.

In December 2023, Pulmuone introduced a new line of flavored fried bean curd products in response to the growing consumer interest in innovative and health-oriented food options. This product range features an assortment of seasonings, including both spicy and sweet flavors, aimed at appealing to a wider audience.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Fried Bean Curd Market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.