Fungal Protein Market size to exceed $6bn by 2027
Published Date: June 28, 2021 Authors: Kunal Ahuja, Sonal Singh
Fungal protein market size is set to surpass USD 6 billion by 2027, according to a new research report by Global Market Insights Inc.
Growing consumer awareness regarding the importance of adopting a healthy dietary lifestyle and rising demand for foods with low calories and rich in fiber, micronutrients, vitamins, and minerals is expected to boost the fungal protein industry demand.
Health attributes of fusarium venenatum such as improved satiety, enhanced metabolic activity and improved muscular strength coupled with growing product demand from meat substitution to boost the fungal protein market expansion
Fusarium venenatum based fungal proteins are expected to bolster remarkable growth during the forecast period. Its dynamic properties such as rich in fiber and protein, low fat and saturated fat content is expected to raise the product demand from food & beverage applications. Moreover, fusarium venenatum offers improved satiety, enhanced metabolic activity, and improved muscular strength, which is likely to escalate the product demand as a dietary supplement.
Increasing product demand in manufacturing different enzymes such as xylanase and trypsin is likely to further favor product usage in various food & beverage products, thus promoting market forecasts over the forecast period. Growing awareness regarding the ill effects of red meat on health and increasing concerns regarding greenhouse gas emissions caused due to livestock farming are encouraging consumers to look for vegan alternatives for meat. Growing trend of consumption of plant-based foods is likely to raise product demand for manufacturing mycoproteins and foster the fungal proteins industry statistics. Fusarium venenatum based fungal protein market was valued at over USD 630 Million in 2020 and is expected to witness significant a CAGR of over 12% between 2021 and 2027.
Browse key industry insights spread across 325 pages with 308 market data tables and 39 figures & charts from the report, “Fungal Protein Market Statistics By Product (Yeast [Baker’s Yeast, Brewer’s Yeast], By Application [Food & Beverage (Processed Food, Beverages, Bakery, Dairy), Animal Nutrition (Poultry, Swine, Aquaculture, Pet Food, Equine), Pharmaceutical]), Fusarium Venenatum (By Application [Meat Alternative, Breakfast & Cereals, Fat Substitute]), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Increasing consumer inclination towards adoption of healthy dietary lifestyle to boost the demand for fusarium venenatum based fungal protein for breakfast and cereal application
Increasing health consciousness among the population is encouraging people to adopt a healthy dietary lifestyle, which is likely to boost the consumption of fusarium venenatum based fungal protein for breakfast. Regular intake of the product as a cereal and staple food of the market statistics over the foreseeable timeframe. Global fusarium venenatum based fungal protein market from breakfast and cereal application is expected to reach over USD 230 Million by 2027 growing at a CAGR of 12% between 2021 and 2027.
Increasing vegan population and growing awareness regarding optimum health and nutrition of livestock to propel the Asia Pacific fungal protein industry statistics
Asia Pacific fungal protein market was valued at over USD 1 Billion in 2020 and is expected to register considerable CAGR of over of 7.5% over the assessment period. This is mainly attributed to the growing vegan population and increasing consumer demand for plant-based ingredients in food products in the region. Moreover, increasing livestock farming activities being carried out in different countries of Asia Pacific such as India, China, Australia, New Zealand and South Korea, among others should further raise the demand for fungal protein in animal nutrition applications and drive the regional market statistics. Increasing prevalence of lactose intolerance among the population is encouraging consumers to opt for lactose-free nutritious products, which should raise the product demand and augment the industry landscape over the forecast period.
Prominent players operating in the fungal protein market are investing heavily in research and development to develop fungal protein products with improved health benefits. Industry players operating in the market are 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.
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