Fungal Protein Market
Fungal Protein Market Forecasts to 2030 - Global Analysis By Product Type (Mycelium Protein, Single-Cell Fungal Protein (SCFP), Fungal Biomass and Other Product Types), Nature (Organic and Conventional), Form, Distribution Channel, Application and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $225.9 MN |
|
Projected Year Value (2030) |
US $391.6 MN |
|
CAGR (2024-2030) |
9.6% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Europe |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Fungal Protein Market is accounted for $225.9 million in 2024 and is expected to reach $391.6 million by 2030 growing at a CAGR of 9.6% during the forecast period. Fungal protein, also known as mycoprotein, is a sustainable protein source derived from fungi, primarily Fusarium venenatum. It is rich in essential amino acids, low in fat, and high in fiber, making it a nutritious alternative to animal protein. Mycoprotein is used in various meat substitutes due to its meat-like texture and nutritional benefits, contributing to environmentally friendly and health-conscious dietary options.
According to a review article in the NCBI journal, fungal single-cell proteins (SCP) generally contain a protein content of 30-45% with a favorable amino acid composition compared to FAO recommendations.
Market Dynamics:
Driver:
Increasing demand for alternative proteins
As consumers become more health-conscious and environmentally aware, there is a growing shift towards sustainable and plant-based protein sources. Fungal proteins, known for their high nutritional value and eco-friendly production methods, are gaining popularity as meat and dairy substitutes. This trend is further fueled by the rise in vegan and vegetarian diets, as well as the need for innovative protein sources to meet the global protein demand.
Restraint:
Limited consumer awareness
Despite the nutritional and environmental benefits of fungal proteins, many consumers are still unfamiliar with these products. Misconceptions about taste, texture, and safety can hinder their acceptance and adoption. Additionally, the novelty of fungal proteins compared to more established plant-based proteins like soy and pea can pose a challenge. Overcoming these barriers requires targeted marketing, education, and sampling initiatives to build consumer trust and familiarity with fungal protein products.
Opportunity:
Expansion into new markets
As awareness of the benefits of fungal proteins grows, there is potential to tap into emerging markets in regions like Asia-Pacific and Latin America. These regions are experiencing a rise in health-conscious consumers and a growing demand for sustainable food sources. Additionally, the development of new applications for fungal proteins in pharmaceuticals, animal nutrition, and personal care products can further drive market growth and diversification.
Threat:
Competition from other alternative proteins
The fungal protein market faces significant competition from other alternative proteins, such as plant-based, insect, and cultured meat proteins. These alternatives often appeal to consumers seeking sustainable, ethical, and diverse protein sources. Plant-based proteins, in particular, have seen rapid growth due to their accessibility and established market presence. This competition challenges the fungal protein market to differentiate itself through unique nutritional benefits, sustainability credentials, and innovative products to capture consumer interest and market share.
Covid-19 Impact:
The COVID-19 pandemic had a mixed impact on the fungal protein market. Initially, disruptions in supply chains and production processes led to a temporary decline in market growth. However, the pandemic also heightened consumer awareness of health and sustainability, driving demand for alternative proteins, including fungal proteins. As the market adapts to new consumer behaviors and supply chain resilience improves, the fungal protein market is expected to recover and grow.
The powder segment is expected to be the largest during the forecast period
The powder segment is expected to be the largest during the forecast period. Fungal protein in powder form is highly versatile and can be easily incorporated into various food and beverage products, including supplements, baked goods, and meat substitutes. Its long shelf life and ease of transportation make it a preferred choice for manufacturers. The high protein content and functional properties of fungal protein powder, such as solubility and emulsification, further drive its demand in the food industry, contributing significantly to market growth.
The food & beverages segment is expected to have the highest CAGR during the forecast period
The food & beverages segment is expected to have the highest CAGR during the forecast period. The increasing consumer preference for plant-based and sustainable food options drives the demand for fungal proteins in this segment. Fungal proteins are used in a wide range of food products, including meat substitutes, dairy alternatives, and functional foods. The versatility, nutritional benefits, and environmental sustainability of fungal proteins make them an attractive ingredient for food manufacturers, leading to rapid growth in the Food & Beverages segment.
Region with largest share:
The European region is positioned to dominate the fungus protein market. Europe has a well-established market for alternative proteins, driven by strong consumer demand for sustainable and health-conscious food products. The region's regulatory support for plant-based diets and the presence of major fungal protein producers further bolster market growth. Additionally, the rising trend of veganism and the increasing adoption of meat substitutes in countries like Germany, the UK, and France contribute to Europe's leading position in the fungal protein market.
Region with highest CAGR:
The Asia Pacific region anticipates rapid growth in the fungal protein market. The region's growth is driven by increasing health and wellness awareness, rising disposable incomes, and a growing demand for protein-rich diets. Countries like China, India, and Japan are witnessing a surge in the adoption of plant-based and alternative proteins. In addition, government initiatives to promote sustainable food production and the expansion of the food and beverage industry further support growth in the Asia Pacific region.
Key players in the market
Some of the key players in Fungal Protein Market include MycoTechnology, Meati Foods, Quorn Foods, Ecovative Design, Prime Roots, Atlast Food Co., The Better Meat Co., 3F Bio, Superbrewed Food, Sustainable Bioproducts LLC and Nature's Fynd.
Key Developments:
In April 2024, MycoTechnology has scaled production of its sweet protein from honey truffles — from a lab benchmark to 3,000-liter tanks — improving production process efficiency, optimizing costs and validating safety and digestibility.
In January 2024, Nature's Fynd, a food company making delicious meat and dairy alternatives with Fy™, a nutritional fungi protein, has created the world's first dairy-free, fungi-based yogurt.
Product Types Covered:
• Mycelium Protein
• Single-Cell Fungal Protein (SCFP)
• Fungal Biomass
• Other Product Types
Natures Covered:
• Organic
• Conventional
Forms Covered:
• Dry
• Liquid
Distribution Channels Covered:
• Direct Sales
• Indirect Sales
Applications Covered:
• Food & Beverages
• Animal Feed
• Pharmaceuticals
• Nutraceuticals
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Fungal Protein Market, By Product Type
5.1 Introduction
5.2 Mycelium Protein
5.3 Single-Cell Fungal Protein (SCFP)
5.4 Fungal Biomass
5.5 Other Product Types
6 Global Fungal Protein Market, By Nature
6.1 Introduction
6.2 Organic
6.3 Conventional
7 Global Fungal Protein Market, By Form
7.1 Introduction
7.2 Powder
7.3 Liquid
8 Global Fungal Protein Market, By Distribution Channel
8.1 Introduction
8.2 Direct Sales
8.3 Indirect Sales
8.3.1 Hypermarkets/Supermarkets
8.3.2 Specialty Stores
8.3.3 Online Retail
8.3.4 Other Indirect Sales
9 Global Fungal Protein Market, By Application
9.1 Introduction
9.2 Food & Beverages
9.2.1 Meat Substitutes
9.2.2 Dairy Alternatives
9.2.3 Bakery & Confectionery
9.2.4 Functional Foods
9.2.5 Beverages
9.3 Animal Feed
9.4 Pharmaceuticals
9.5 Nutraceuticals
9.6 Other Applications
10 Global Fungal Protein Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 MycoTechnology
12.2 Meati Foods
12.3 Quorn Foods
12.4 Ecovative Design
12.5 Prime Roots
12.6 Atlast Food Co.
12.7 The Better Meat Co.
12.8 3F Bio
12.9 Superbrewed Food
12.10 Sustainable Bioproducts LLC
12.11 Nature's Fynd
List of Tables
1 Global Fungal Protein Market Outlook, By Region (2022-2030) ($MN)
2 Global Fungal Protein Market Outlook, By Product Type (2022-2030) ($MN)
3 Global Fungal Protein Market Outlook, By Mycelium Protein (2022-2030) ($MN)
4 Global Fungal Protein Market Outlook, By Single-Cell Fungal Protein (SCFP) (2022-2030) ($MN)
5 Global Fungal Protein Market Outlook, By Fungal Biomass (2022-2030) ($MN)
6 Global Fungal Protein Market Outlook, By Other Product Types (2022-2030) ($MN)
7 Global Fungal Protein Market Outlook, By Nature (2022-2030) ($MN)
8 Global Fungal Protein Market Outlook, By Organic (2022-2030) ($MN)
9 Global Fungal Protein Market Outlook, By Conventional (2022-2030) ($MN)
10 Global Fungal Protein Market Outlook, By Form (2022-2030) ($MN)
11 Global Fungal Protein Market Outlook, By Powder (2022-2030) ($MN)
12 Global Fungal Protein Market Outlook, By Liquid (2022-2030) ($MN)
13 Global Fungal Protein Market Outlook, By Distribution Channel (2022-2030) ($MN)
14 Global Fungal Protein Market Outlook, By Direct Sales (2022-2030) ($MN)
15 Global Fungal Protein Market Outlook, By Indirect Sales (2022-2030) ($MN)
16 Global Fungal Protein Market Outlook, By Hypermarkets/Supermarkets (2022-2030) ($MN)
17 Global Fungal Protein Market Outlook, By Specialty Stores (2022-2030) ($MN)
18 Global Fungal Protein Market Outlook, By Online Retail (2022-2030) ($MN)
19 Global Fungal Protein Market Outlook, By Other Indirect Sales (2022-2030) ($MN)
20 Global Fungal Protein Market Outlook, By Application (2022-2030) ($MN)
21 Global Fungal Protein Market Outlook, By Food & Beverages (2022-2030) ($MN)
22 Global Fungal Protein Market Outlook, By Meat Substitutes (2022-2030) ($MN)
23 Global Fungal Protein Market Outlook, By Dairy Alternatives (2022-2030) ($MN)
24 Global Fungal Protein Market Outlook, By Bakery & Confectionery (2022-2030) ($MN)
25 Global Fungal Protein Market Outlook, By Functional Foods (2022-2030) ($MN)
26 Global Fungal Protein Market Outlook, By Beverages (2022-2030) ($MN)
27 Global Fungal Protein Market Outlook, By Animal Feed (2022-2030) ($MN)
28 Global Fungal Protein Market Outlook, By Pharmaceuticals (2022-2030) ($MN)
29 Global Fungal Protein Market Outlook, By Nutraceuticals (2022-2030) ($MN)
30 Global Fungal Protein Market Outlook, By Other Applications (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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