With the rising popularity of plant-based products among consumers, tempeh products saw strong growth during 2020-2021. Tempeh is a traditional Indonesian food packed with protein, fiber, and nine essential amino acids and prepared with three simple, whole-food ingredients-fermented soybeans, brown rice, and water. Since the products are low in fat, high in protein, and have a chewy texture with a nutty taste, tempeh has seen a sales boost in recent years as many consumers have turned to plant-based options to stay healthy. Therefore, food & beverages companies are innovating and expanding their product offerings to capture more market share. For instance,

• In March 2022, Greenleaf Foods’ plant protein brand Lightlife brought into the United States market a new ready-to-cook product, Lightlife Tempeh Cubes. Specifically, the company is innovating with its product range by growing its portfolio of top-selling tempeh products. These new offerings are available in three marinated varieties: Teriyaki, Southwest, and Tikka Masala. These are pre-cut, pre-seasoned with thirteen grams of protein per serving, providing the consumer to prepare a quick, nutritious, and delicious meal.

The company, which has Smoky and Buffalo tempeh strips, with this new product that simplifies the meal preparation, is targeting to expand the marinated tempeh product line. Notably, Lightlife tempeh products have been developed by Greenleaf Foods, SPC. The company’s "Tempeh Works," brand grew to be the number-one-selling and most accessible brand in North America. The company claimed that it has a nearly 83% dollar share of the market with availability at more than 18,500 retail locations in the country.

To tap the growing demand for tempeh products, Greenleaf Foods opened the largest tempeh plant in North America, a 118,000 square foot production facility in Indianapolis, in 2021. This is the second Indiana manufacturing facility that Chicago-based Greenleaf has planned since its launch in 2018.

The plant-based space is becoming crowded, with new players and brands launching products for consumers' attention. Therefore, companies are highlighting plans with strategic acquisitions and accelerating innovation to grow their plant-based protein business in the next two to three years.

• United Kingdom's Better Nature, another tempeh brand, rebranded its entire product range ahead of Veganuary 2022 in December 2021. Together with the rebranding, Better Nature also introduced three new or updated tempeh products. The company upgraded an existing mince with new curry bites and BBQ strips.
• Similarly, new products are being launched to meet the growing needs of the customers in the Indian market. In November 2021, India-based Hello Tempayy launched soybean-based tempeh products to tap the growing demand.

To know more and gain a deeper understanding of the global plant protein industry, click here.