According to the research report titled, ‘Fungal Protein Market By Type (Fusarium Venenatum Extract, Mushrooms, Yeast Extract), Application (Food & Beverage {Beverages, Bakery}, Animal Nutrition {Poultry Feed, Aquafeed}, Pharmaceuticals, and Other Applications), and Geography - Forecast to 2029”, in terms of value, the global fungal protein market is projected to reach $397.5 million by 2029, at a CAGR of 7.6% from 2023-2029. Moreover, in terms of volume, the global fungal protein market is projected to reach 23,185.0 tons by 2029, at a CAGR of 6.2% during the forecast period 2023 to 2029. The report provides an in-depth analysis of the global fungal protein market across five major regions, emphasizing the current market trends, market size, and recent developments and providing the forecast till 2039.
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and challenges. The growth of this market is driven by the growing demand for allergen-free foods, the rising consumption of processed foods, and the increasing demand for meat substitutes. However, the undefined regulatory guidelines is expected to restrain the growth of this market to a notable extent. Furthermore, the rising adoption of yeast extract in the processed foods industry and emerging economies in Asia-Pacific and the Middle East will provide significant growth opportunities for seaweed manufacturers in the coming years.
Based on type, the yeast extract segment is slated to register the highest CAGR during the forecast period. The fastest growth of this segment is attributed to the rising adoption of yeast extract in the processed foods industry and emerging economies in Asia-Pacific and the Middle East & Africa are expected to create growth opportunities for the players operating in this market. Moreover, nutritional protein, yeast extract ingredients can produce various added‐value products suitable for animal and human nutrition.
Based on application, in 2023, the food & beverage segment is expected to account for the largest share of the global fungal protein market. The large market share of this segment is attributed to the growing global food & beverage industry and the increasing adoption of fungal protein in the food industry due to its cholesterol and satiety benefits and nutritional composition. Furthermore, the growing demand for meat-substitute products and the rise in consumer demand for healthy products further boost the demand for fungal protein in the food & beverage industry.
An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights into the five major regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) and the coverage of major countries in each region. Asia-Pacific is slated to register the highest CAGR during the forecast period. The growth of this market can be attributed to the rising health-conscious population, growing demand for vegan food products, and increased demand for processed food products. Moreover, the growing government initiatives to increase the production of yeast and mushrooms in countries like India and China are expected to provide opportunities for stakeholders operating in this market.
The key players operating in the global fungal protein market are Lesaffre (France), Koninklijke DSM N.V. (Netherlands), Kerry Group plc (Ireland), Halcyon Proteins Pty. Ltd. (Australia), MYCORENA AB (Sweden), Oriental Yeast Co., Ltd. (Japan), Van Wankum Ingredients BV (Netherlands), Lallemand Inc. (Canada), AngelYeast Co., Ltd. (China), Associated British Foods plc (U.K.), ENOUGH (U.K.), MycoTechnology, Inc.(U.S.), Monterey Mushrooms, LLC (U.S.), and The Better Meat Co. (U.S.).
Key Questions Answered in the Report-
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and challenges. The growth of this market is driven by the growing demand for allergen-free foods, the rising consumption of processed foods, and the increasing demand for meat substitutes. However, the undefined regulatory guidelines is expected to restrain the growth of this market to a notable extent. Furthermore, the rising adoption of yeast extract in the processed foods industry and emerging economies in Asia-Pacific and the Middle East will provide significant growth opportunities for seaweed manufacturers in the coming years.
Based on type, the yeast extract segment is slated to register the highest CAGR during the forecast period. The fastest growth of this segment is attributed to the rising adoption of yeast extract in the processed foods industry and emerging economies in Asia-Pacific and the Middle East & Africa are expected to create growth opportunities for the players operating in this market. Moreover, nutritional protein, yeast extract ingredients can produce various added‐value products suitable for animal and human nutrition.
Based on application, in 2023, the food & beverage segment is expected to account for the largest share of the global fungal protein market. The large market share of this segment is attributed to the growing global food & beverage industry and the increasing adoption of fungal protein in the food industry due to its cholesterol and satiety benefits and nutritional composition. Furthermore, the growing demand for meat-substitute products and the rise in consumer demand for healthy products further boost the demand for fungal protein in the food & beverage industry.
An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights into the five major regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) and the coverage of major countries in each region. Asia-Pacific is slated to register the highest CAGR during the forecast period. The growth of this market can be attributed to the rising health-conscious population, growing demand for vegan food products, and increased demand for processed food products. Moreover, the growing government initiatives to increase the production of yeast and mushrooms in countries like India and China are expected to provide opportunities for stakeholders operating in this market.
The key players operating in the global fungal protein market are Lesaffre (France), Koninklijke DSM N.V. (Netherlands), Kerry Group plc (Ireland), Halcyon Proteins Pty. Ltd. (Australia), MYCORENA AB (Sweden), Oriental Yeast Co., Ltd. (Japan), Van Wankum Ingredients BV (Netherlands), Lallemand Inc. (Canada), AngelYeast Co., Ltd. (China), Associated British Foods plc (U.K.), ENOUGH (U.K.), MycoTechnology, Inc.(U.S.), Monterey Mushrooms, LLC (U.S.), and The Better Meat Co. (U.S.).
Key Questions Answered in the Report-
- What is the current value of revenue generated by global fungal proteins?
- At what rate is the global fungal protein demand projected to grow for the next 5-7 years?
- What are the historical market sizes and growth rates of the global fungal protein market?
- What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
- Which segments in terms of type and application are expected to create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global fungal protein market?
- Who are the major players in the Global fungal protein market? What are their specific product offerings in this market?
- What are the recent strategic developments in the global fungal protein market? What are the impacts of these strategic developments on the market?
Scope of the Report:
Global Fungal Protein Market Assessment - by Type
- Fusarium Venenatum Extract
- Mushrooms
- Yeast Extract
Global Fungal Protein Market Assessment - by Application
- Food & Beverage
- Bakery
- Beverages
- Other Food & Beverage Applications
- Animal Nutrition
- Poultry Feed
- Pig Feed
- Aquafeed
- Others
- Pharmaceuticals
- Other Applications
Global Fungal Protein Market Assessment - by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Middle East & Africa
Table of Contents
1. Market Definition & Scope
2. Research Methodology
3. Executive Summary
4. Market Insights
5. Global Fungal Protein Market Assessment - by Type
6. Global Fungal Protein Market Assessment - by Application
7. Fungal Protein Market Assessment, by Geography
8. Competition Analysis
9. Company Profiles (Business Overview, Product Portfolio, Financial Overview, and Strategic Developments)
10. Appendix
List of Tables
List of Figures
Companies Mentioned
- Lesaffre (France)
- Koninklijke DSM N.V. (Netherlands)
- Kerry Group plc (Ireland)
- Halcyon Proteins Pty. Ltd. (Australia)
- MYCORENA AB (Sweden)
- Oriental Yeast Co. Ltd. (Japan)
- Van Wankum Ingredients BV (Netherlands)
- Lallemand Inc. (Canada)
- AngelYeast Co. Ltd. (China)
- Associated British Foods plc (U.K.)
- ENOUGH (U.K.)
- MycoTechnology Inc.(U.S.)
- Monterey Mushrooms LLC (U.S.)
- The Better Meat Co. (U.S.).
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About the Fungal Protein Market
The Fungal Protein market is a rapidly growing segment of the Health Food and Sports Nutrition industry. Fungal proteins are derived from edible fungi, such as mushrooms, and are a source of plant-based protein. They are a popular choice for those looking for a vegan or vegetarian alternative to animal-based proteins. Fungal proteins are also known for their high nutritional value, containing essential amino acids, vitamins, minerals, and antioxidants. They are also low in fat and cholesterol, Read more
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