According to a new report by Future Market Insights, a market research and competitive intelligence firm, Mycoprotein Market are expected to reach USD 976 million by 2032, growing at a CAGR of 12.6 % over the decade.
Consumer health and fitness awareness is predicted to rise as illness incidence rises, driving the market for mycoprotein products. Furthermore, worldwide economic growth has been supported by the fast expansion of the foodservice sectors, as well as the appealing marketing and promotion methods of vegetarian businesses.
The growth of the mycoprotein goods sector is being stifled by an increase in the number of new, low-cholesterol meat product lines, such as lean meat in developed economies.
Alternative meat products, such as plant-based proteins and mycoprotein products, have gained in popularity in both developed and developing nations over the years.
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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.
“ The growing focus on the consumption of Mycoprotein in developed regions such as Europe and North America is likely to open lucrative opportunity for market players in the long run”, –says a lead analyst at Future Market Insights.
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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, Mycoprotein Market is Segmented as:
- Minced
- Slices
By Sales Channel, Mycoprotein Market is Segmented as:
- Supermarkets / Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
By Region, 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?
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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