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Fungal Protein Market Trends

Report ID: GMI4770
Published Date: Jul 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, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of fungal protein reached USD 68.45 billion in 2023 and will witness an 8.2% CAGR between 2024 and 2032, owing to technological breakthroughs in fungal strain development.

The yeast segment in the fungal protein industry garnered USD 64.75 billion in 2023 and will cross USD 98.1 billion by 2032, attributed to its high nutritional value.

Europe market achieved USD 23.14 billion in 2023 and will expand at 7.3% CAGR from 2024 to 2032, fueled by its advanced food technology sector.

Lesaffre Group, Angel Yeast,DSM, Kerry Group, Lallemand, Inc., Leiber, Synergy Flavors, Biospringer, Alltech, Halcyon Proteins, Thai Foods Product International Co., Ltd., Sensient Technologies Corporation, Specialty Biotech, Ohly, and Biorigin among others.