Globally, the Mycelium Market is expected to expand at a significant CAGR over the next few years due to its growing scope and applications. Key factors such as growing inclination towards sustainable materials, high adoption of mycelium across various sectors such as pharmaceuticals, clothing, food and beverages, construction, and skin care, and changing consumer preferences are expected to drive mycelium market growth during the forecast period.
Mycelium is a root-like structure of a fungus that consists of a mass of branching, thread-like hyphae. It is commonly found in single-celled and multi-celled organisms such as mushrooms and yeasts. Mycelium plays a key role in decomposition process and is an essential source of food for herbivorous mammals and humans. It is strong, safe, and biodegradable material widely used in a variety of applications such as food and beverages, construction, clothing, bakery, and animal feed due to its capability to produce everything from plastics to plant-based meat. Mycelium is rapidly gaining traction to develop greener building materials, sustainable clothing, compostable packaging, animal-free meat, and disposable healthcare products.
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Factors such as rapid urbanization, increasing awareness about the benefits of mycelium, growing demand for nutritious food, and rising investments in developing innovative flavors are expected to boost global market growth during the forecast period.
However, factors such as low commercialization of mycelium products, availability of various alternatives, and high suspensibility problems such as loss of strength after exposure to moisture, and low resistance to water are expected to hamper overall market growth to a certain extent during the forecast period.
Powder Segment To Register Rapid Revenue CAGR:
The powder segment is expected to register rapid revenue CAGR over the forecast period. This can be attributed to high usage of mycelium powder in food and feed industries, growing preference for powder form due to better absorption, better shelf life, and cost-effectiveness, and rising demand for mycelium powder in food products to enhance palatability of food.
Food & Beverage Industry Segment to Account for Largest Revenue Share:
The food and beverage industry is expected to account for largest revenue share during the forecast period. Factors such as rapidly expanding food and beverage sector, changing consumer food preferences, rising demand for processed and nutritious food and beverages, and high usage of mycelium to impart unique taste and nutrients in food are expected to drive segment revenue growth between 2021 and 2028.
North America to Lead In Terms of Revenue Share:
North America is expected to account for largest revenue share during the forecast period owing to increasing demand for natural and nutritious food products, growing awareness about benefits of mycelium, high usage of mycelium across various sectors such as food and beverages, packaging, clothing, and animal feed, and presence of leading market players.
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Mycelium Market By Company:
Mycelium Industry Recent Developments:
In August 2022, Shanghai based alternative protein start-up 70/30 Food Tech announced the launch of its ready meal product using its first mycelium protein product. The protein serves as a meat replacement that mimics the nutrition profile and texture of shredded chicken.
In September 2022, Magnit announced its plans to launch high-tech mycelium production. This product launch is expected to allow the company to fully substitute imported European raw materials, improving the product quality.
The global mycelium market has been segmented based on type, application, and region:
Mycelium Market Segment by Type:
Mycelium Market Segment by Application:
Animal Feed Industry
Food & Beverage Industry
Bakery & Confectionary
Mycelium Market Consumption by Region:
Mycelium Market Consumption by Region:
North America (USA, Canada)
Europe (Germany, France, UK, Italy, Russia)
Asia Pacific (China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia)
Latin America (Mexico, Brazil, Argentina)
Key Reasons to Purchase:
Estimates 2023 to 2028 mycelium market current market trends and development trends
Market dynamics along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the mycelium market
Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
Brief about impact of COVID-19 on the global mycelium market
Key Questions Addressed:
What was the market size of the mycelium market in 2021?
What revenue CAGR is the global mycelium market expected to register during the forecast period?
Which regions are covered in the global mycelium market?
Which region is expected to lead in terms of revenue share over the forecast period?
What are the key factors expected to drive global market growth during the forecast period?
Who are the top 10 key players operating in the global mycelium market?
Based on type, which segment is expected to register significant revenue CAGR over the forecast period?
What are the key factors that can hamper overall market growth to a certain limit during the forecast period?
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