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Fungal Protein Market Trends

Report ID: GMI4770
Published Date: Dec 2024
Report Format: PDF

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Fungal Protein Market Trends

The fungal protein industry is propelled by rising investment and collaboration, fostering innovation in production methods and product development. This trend encourages partnerships and funding that accelerate research, expand market reach, and enhance product offerings.

Additionally, global market expansion plays a pivotal role as companies capitalize on increasing acceptance of fungal proteins worldwide, tapping into diverse consumer preferences for sustainable and plant-based protein sources across various industries. For instance, in February 2024, 70/30 Food Tech plans to establish a mycelium research lab aimed at developing cost-effective proteins for Asia following a successful seed-extension fundraising round in Shanghai.

Authors: Kiran Pulidindi, Keshav Tandle

Frequently Asked Questions (FAQ) :

The market size of fungal protein reached USD 69.6 million in 2024 and is set to grow at a 5.6% CAGR from 2025 to 2034, driven by technological advancements in fungal strain development and production methods.

The food & beverage segment held 55.1% of the market share in 2024, amounting to USD 38.5 million, and is projected to grow at a 5.4% CAGR from 2025 to 2034, led by rising consumer demand for sustainable and nutritious protein alternatives.

The U.S. market is anticipated to achieve USD 31.5 million by 2034, with a CAGR of 5.3% from 2025 to 2034, propelled by increasing consumer demand for sustainable, plant-based protein alternatives.

The key players in the industry include AB Mauri, Angel Yeast, Biospringer, DSM, Halcyon Proteins, Kerry Group, Lesaffre Group, Lallemand, Inc., Mycotechnology, Inc., and Synergy Flavors.