Market Trends of united states tofu Industry
This section covers the major market trends shaping the United States Tofu Market according to our research experts:
Off-Trade is the largest Distribution Channel
- The US tofu market is dominated by the off-trade segment in terms of distribution channels, with 43% more share than the on-trade distribution channel. Among all the off-trade segments of the US tofu market, supermarkets and hypermarkets have the highest market share, with 68% by value, in 2022. The availability of different types of tofu-based products in bulk to cater to customer needs makes supermarkets a better place for purchasing. Post-pandemic, more consumers prefer one-stop centers to buy tofu products.
- The overall US tofu market increased at a rate of 38.05% by value and 30.80% by volume from 2016 to 2021. This increase was mainly due to the rise in the number of supermarkets, hotels, food enterprises, grocery stores, and other distribution channels. The number of supermarkets increased by 4.3% from 2021 to 2022, and online channels rose by 20% from 2020 to 2021. Also, the growth of customer touchpoints led to an increase in tofu sales.
- The online channel in the off-trade distribution channel is projected to be the fastest-growing distribution channel in the US tofu market, registering a CAGR value of 15.49% during the forecast period, 2022-2028. With the increase in technological adoption by consumers, manufacturers also increased their digital presence through e-commerce, offering B2C and B2B services and multiple tofu varieties. Increasing demand for new tofu varieties in online channels drives the market.
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