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Fungal Protein Market size to exceed $115 Mn by 2032

  • Published Date: December 20, 2022

Fungal Protein Market size value is expected to surpass USD 115 million by 2032, according to a recent research report announced by Global Market Insights Inc.

Trend of veganism has picked up an immense pace in many regions, including the Asia Pacific, as more people are growing health conscious and want to develop sustainable dietary habits. The rise in awareness of animal welfare and focus on eco-friendliness in the production of meat alternatives are some of the other factors contributing to the use of fungal proteins.

As per a recent study by researchers at the Potsdam Institute for Climate Impact Research (PIK), replacing 20% of conventional meat products with meats made from fungi could reduce deforestation by almost half by 2050. This has surged the demand for meat substitutes made from different types of fungal proteins. Many countries across the APAC region, including China, India, the Philippines, and South Korea are extensively adopting meats prepared from fungal proteins, such as mycoproteins.

Use of mycoprotein as key ingredient in meat alternatives boosts demand for fusarium venenatum

Fungal protein market value from the fusarium venenatum segment is anticipated to surpass USD 8 million by 2032. The immense popularity of vegan foods has prompted customers to look for various meat alternatives. Fusarium venenatum, a non-pathogenic fungus, is being widely used by food researchers to produce mycoprotein, which is utilized to manufacture meat alternatives for burgers and patties. It also acts as a fat replacer in various dairy products and cereals. With the percentage of individuals suffering from obesity rising across the world, the preference for low-fat foods is growing considerably, further driving product consumption.

Browse key industry insights spread across 325 pages with 313 market data tables and 41 figures & charts from the report “Fungal Protein Market Size 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]), COVID-19 Impact Analysis, Regional Outlook, Application Development, Price Trends, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:

Increasing production of multigrain bread to fuel fungal protein use in North America

North America fungal protein market size is anticipated to record more than 6.5% CAGR during the forecast timeframe of 2023-2032. The consumption of baked goods, such as breads and cakes is increasing at a rapid pace. The popularity of healthy breads, such as oatmeal and multigrain breads, has also surged tremendously in recent years, as a large percentage of the region’s population is making healthier lifestyle choices. These factors may accelerate the adoption of yeast and other fungal proteins, in turn bolstering the regional market outlook.

Expansion strategies by major participants will define industry landscape

Some of the reputed companies working in fungal protein market include Lesaffire Group, Angel Yeast, DSM, Lallemand Inc., Leiber, Synergy Flavours, Biospringer, Halcyon Proteins, Thai Foods Product International Co. Ltd., Alltech, Ohly, Sensient Technologies Corporation, Biorigin, Kohjin Life Sciences, Oriental Yeast, AB Mauri, Kothari Fermentation & Biochem Ltd., Mycotechnology Inc., Organika Health Products Inc. and Marlow Foods Ltd., among many others. These organizations are focusing on expanding their capacity to produce yeast and other fungal proteins, in order to bolster their presence in the business.

Authors: Kiran Pulidindi, Kunal Ahuja

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