Home > Food, Nutrition & Animal Feed > Fungal Protein Market
Industry Trends
Fungal Protein Market size exceeded USD 3.9 billion in 2020 and is estimated to register over 7.6% CAGR between 2021 and 2027. Increasing consumer inclination towards adoption of healthy dietary habits is likely to encourage them to include nutrient -rich protein ingredients such as fungal proteins as a part of their daily diet, thus boosting the market growth.
Get more details on this report - Request Free Sample PDF
Moreover, increasing prevalence of chronic health disorders such as cholesterol, heart problems, diabetes, blood pressure, etc. among the global population coupled with the increasing adoption of a sedentary lifestyle is likely to drive consumer focus towards consumption of healthy foods, which should in turn boost demand for fungal proteins over the forecast period.
Report Coverage | Details |
---|---|
Base Year: | 2020 |
Forecast Period: | 2021 to 2027 |
Forecast Period 2021 to 2027 CAGR: | 8.3% |
2027 Value Projection: | 3.94 (USD) Billion |
Historical Data for: | 2016 to 2020 |
No. of Pages: | 325 |
Tables, Charts & Figures: | 347 |
Segments covered: | Product |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
Get more details on this report - Request Free Sample PDF
Fungal protein is a protein derived from fungi-based sustainable food source. Fungal proteins comprise of yeast-based protein and fusarium venenatum based proteins. Numerous attributes of fungal proteins such as rich in proteins, vitamins, folic acid and minerals, among others makes it an ideal choice for use in both human food & beverage as well as animal feed applications.
Increasing consumption of bakery, dairy and other fermented foods coupled with increasing product innovations in the area of mycoproteins should promote fungal protein market statistics. Moreover, the anti-inflammatory, antioxidant, anti-obesity and immune system regulatory properties of fungal proteins are likely to open up new growth avenues for their use in animal nutrition applications, further contributing to market demand. However, availability of different types of alternate proteins such as insect proteins, animal-based proteins, plant-based proteins, and others in the market is likely to hamper market growth to some extent over the assessment period.
Get more details on this report - Request Free Sample PDF
Yeast-based fungal protein market was valued at over USD 3 Billion in 2020 and is expected to witness considerable CAGR of 6.5% between 2021 and 2027. Yeasts are a rich source of nutrients such as thiamine, riboflavin, pyridoxine, potassium, vitamin B12, folic acid and zinc. Growing consumer interest in nutrient-rich diets coupled with the increasing popularity of consumption of plant-based diets is expected to boost the demand for yeast-based fungal proteins over the forecast period.
Ability of baker’s yeast to impart a rich taste, aroma, texture and flavour to foods coupled with its property to improve fermentation process is likely to raise the product demand and foster market share. Increasing adoption of westernized lifestyle across the globe has resulted in an increased consumption of bakery, dairy and other fermented products, thus raising the demand for baker’s yeast and in turn promoting market demand. Global baker’s yeast based fungal protein industry was valued at over USD 2.5 Billion in 2020 and is expected to register a significant CAGR of 6.7% over the forecast timeframe.
Get more details on this report - Request Free Sample PDF
Yeast based fungal protein market from the food & beverage application was valued at over USD 1.9 Billion in 2020 and is expected to grow at a CAGR of over 6.8% over the forecast period. This is mainly attributed to the rapid growth of dairy industry globally. Increasing consumption of cheese, curd, yoghurt, and other milk-based products is likely to drive the market statistics from dairy application.
Moreover, an increase in the household baking activities during the coronavirus pandemic should further propel the demand for yeast based fungal protein and foster market size. Global yeast based fungal protein industry from bakery application was valued at over USD 1.2 Billion in 2020 and is expected to register over 7.1% CAGR over the forecast period.
Presence of high levels of chromium, protein, selenium, potassium, iron, zinc, magnesium and vitamin B nutrients in brewer’s yeast based fungal proteins imparts cholesterol lowering abilities to the product, which should raise the product demand from brewery applications. An unprecedented rise in the young population across the world coupled with a gradual shift in consumer preference from alcoholic to non-alcoholic beverages should escalate the demand for fungal proteins from beverage applications over the forecast period.
Get more details on this report - Request Free Sample PDF
Europe emerged as a dominant region with a market value of over USD 1.44 Billion in 2020 and is expected to register considerable CAGR of around 7.3% over the forecast period. This is mainly ascribed by the increasing consumption of bread, viennoisserie, cakes, patisserie and other bakery products in the region. Moreover, rising demand for processed foods in the region owing to changing consumer food patterns, increasing desk bound work cultures and lack of time to cook healthy foods is expected to raise the demand for fungal protein and augment market growth over the forecast period. Rising demand for foods rich in fibre, omega-3 and wholegrain, and low in calories from the European population should further escalate demand for ingredients such as fungal proteins and bolster market statistics in the region.
The global fungal protein market is moderately consolidated with AB Mauri, Angel Yeast, Lesaffre Group, Alltech, DSM N.V. and Lallemand, Inc. being some of the major players in the market. Besides, Kerry Group, Leiber, Synergy Group, Halcyon Proteins, Biospringer, Specialty biotech, Sensient Technologies Corporation, Biorigin, Oriental Yeast, Titan Biotech Limited Company and Mycotechnology, Inc. are few other players operating in the market.
With a view to meet the continuously increasing consumer demands in the market, players are investing in expansion of their production capacities either by construction of new manufacturing facilities or by increasing the capacity of their existing production plants. For instance, in September 2020, AB Mauri announced its plans to invest over USD 54.5 Million for the construction of a new production facility in Uttar Pradesh, India. This capacity expansion would enable the company to further expand its business in Asia Pacific.
The global fungal protein market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons & revenue in USD Million from 2016 to 2027 for the following segments:
By Product
The above information has been provided for the following regions: