According to a new report by Future Market Insights, a market research and competitive intelligence firm, Mycoprotein Market are expected to reach US$ 976 million by 2032, growing at a CAGR of 12.6 % over the decade.
The prevalence of sickness, combined with increased consumer awareness of health and fitness, is expected to drive demand for mycoprotein products. The growing foodservice industry, as well as enticing marketing and advertising methods adopted by vegetarian enterprises, have helped to drive global economic growth.
The advent of new, low-cholesterol meat product lines such as lean beef in industrialised nations is limiting the growth of the mycoprotein products sector.
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Plant-based proteins and mycoprotein products, for example, have grown in popularity in both developed and developing countries over the years.
Key Takeaways from Market Study
- North America is expected to have 38% Mycoprotein market share.
- US holds 65 % Mycoprotein market share in North American Market.
- Europe is expected to have 31 % Mycoprotein market share.
- Germany holds 22 % Mycoprotein market share in European Market.
- Asia is expected to have 20 % Mycoprotein market share.
- China holds 32 % Mycoprotein market share in Asian Market.
- Market players are experimenting with new ways on increasing production capacity and also doing research and innovation to create products.
Competitive Landscape
Mycoprotein have a strongly competitive global market. The most challenging aspect of producing mycoprotein products is the reliance on a single carbon source, wheat-derived glucose, which requires particular processing before use.
Competitors seek to boost the nutritional value of mycoprotein products as well as the variety of carbon sources available.
Some of the leading companies offering Marlow Foods Ltd, 3F Bio Ltd, Myco Technology, Inc., Tyson Ventures, Temasek Holdings and General Mills are the major players in the market.
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Future Market Insights, in its new offering, provides an unbiased analysis of the Mycoprotein presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
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Mycoprotein Market by Category
By Form, the Mycoprotein Market is Segmented as:
- Minced
- Slices
By Sales Channel, the Mycoprotein Market is Segmented as:
- Supermarkets / Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
By Region, the Mycoprotein Market is Segmented as:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
The report covers exhaustive analysis on:
- How Big is the Mycoprotein Product Market?
- What is the North America Mycoprotein Product Market Outlook?
- At What Rate will Mycoprotein Product Demand Grow in Europe?
- What Are the Key Trends Shaping the Mycoprotein Product Market?
- What share of Mycoprotein Product Demand comes from China?
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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