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Mycelium Market Analysis

  • Report ID: GMI9258
  • Published Date: Apr 2024
  • Report Format: PDF

Mycelium Market Analysis

Based on nature, the market is divided into organic, processed, raw, and conventional. Organic held the dominant market size of USD 1.14 billion in 2023. Organic mycelium dominates the market due to its alignment with sustainability goals and consumer preferences for natural, eco-friendly products. In applications such as packaging, construction materials, and textiles, organic mycelium offers a biodegradable and renewable alternative to conventional materials, reducing environmental impact and promoting circular economy principles. Moreover, organic mycelium-based products cater to a wide range of end-uses, including packaging for food and beverages, insulation for buildings, and fabric for clothing and accessories. With growing awareness of environmental issues and the need for sustainable solutions, the demand for organic mycelium continues to rise, driving innovation and market growth in various industries.

Mycelium Market Revenue Share, By Product Type, (2023)

Based on product type, the market is categorized into powder, capsules, tablets, and others. Powder accounted for 37% of the market share in 2023 and is projected to grow through 2032. Powder dominates the mycelium market due to its versatility and ease of use in manufacturing processes. Mycelium powder can be easily mixed with various organic substrates to create customized products such as packaging materials, construction panels, and textiles. Its fine texture allows for uniform distribution and consistent growth of mycelium, resulting in high-quality end products. Additionally, powdered mycelium offers scalability and cost-effectiveness, making it an attractive option for large-scale production in diverse industries. Overall, the dominance of powdered mycelium reflects its pivotal role in driving innovation and sustainability within the growing market.

Based on end-use industry, in the market, the segmentation based on end-use includes packaging, construction, food and beverage, clothing and apparel, automotive, animal feed, and others. Packaging dominates the mycelium industry due to its widespread application and urgent need for sustainable alternatives to conventional packaging materials like plastic. Mycelium-based packaging offers a biodegradable, compostable, and renewable solution that addresses environmental concerns while maintaining functionality and durability. With increasing regulations and consumer demand for eco-friendly packaging options, industries ranging from food and beverage to electronics and cosmetics are turning to mycelium packaging to reduce their carbon footprint and minimize waste. This growing preference for sustainable packaging solutions positions packaging as a dominant sector within the expanding market.

North America Mycelium Market Size, 2021- 2032 (USD Million)

North America dominated the global market in 2023. It generated a revenue of USD 980 million in 2023. North America dominates the mycelium market due to several key factors. Firstly, the region boasts a robust ecosystem of research institutions, startups, and established companies focused on microtechnology and biotechnology, fostering innovation and market growth. Additionally, North America's strong presence in industries such as packaging, construction, and textiles provides ample opportunities for the adoption of mycelium-based products. Moreover, supportive regulatory frameworks and consumer awareness of sustainability issues further contribute to the region's leadership in promoting eco-friendly alternatives like organic mycelium. Lastly, strategic partnerships and investments in mycelium-based startups and initiatives bolster North America's position as a global hub for microtechnology innovation and market development.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Industry size for mycelium was USD 2.79 billion in 2023 and is projected to depict over 7.4% CAGR from 2024 to 2032, due to the increasing demand for sustainable materials, advancements in biotechnology, and rising application in packaging and construction.

The organic mycelium segment in the mycelium industry recorded USD 1.14 billion in revenue in 2023, due to its alignment with sustainability goals and rising consumer preferences for natural, eco-friendly products.

North America industry size was USD 0.98 billion in 2023 and is predicted to grow at a notable rate between 2024 and 2032, attributed to the robust ecosystem of research institutions, startups, and established companies focused on microtechnology and biotechnology.

Bolt Threads, Ecovative LLC, FreshCap Mushrooms LTD, Huisong, Magical Mushroom Company, Mycelia NV, Mycotech Lab, MycoTechnology, Inc., MycoWorks, and Scelta Mushroom are some of the mycelium companies worldwide.

Mycelium Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 532
  • Countries covered: 23
  • Pages: 300
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