PUBLISHER: The Business Research Company | PRODUCT CODE: 1664328
PUBLISHER: The Business Research Company | PRODUCT CODE: 1664328
Fungal protein is a food-grade protein derived from certain types of fungi intended for human consumption. It serves as a substitute for traditional protein sources such as meat within the food industry.
The primary types of fungal proteins encompass fusarium venenatum extract, mushrooms, and yeast extract. Fusarium venenatum represents a protein-rich microfungus found in the Fusarium genus, available in both organic and conventional forms. These fungal proteins find applications across various sectors including food and beverages, bakery products, processed foods, dairy items, and other related industries.
The fungal protein market research report is one of a series of new reports from The Business Research Company that provides fungal protein market statistics, including fungal protein industry global market size, regional shares, competitors with a fungal protein market share, detailed fungal protein market segments, market trends and opportunities, and any further data you may need to thrive in the fungal protein industry. This fungal protein market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The fungal protein market size has grown strongly in recent years. It will grow from $4.06 billion in 2024 to $4.34 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increasing demand for plant-based proteins, rising interest in alternative protein sources, rising allergies to animal proteins, expansion of food and beverage industry, environmental sustainability concerns, government initiatives and regulations.
The fungal protein market size is expected to see strong growth in the next few years. It will grow to $5.71 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to increasing consumer awareness, expanding vegan, expanding applications in various industries, global population growth, investments in alternative proteins. Major trends in the forecast period include increasing consumer demand, product innovation, expanding applications, supply chain sustainability, global market penetration.
The increasing consumption of processed foods is significantly driving the growth of the fungal protein market in the future. Processed food refers to any food item that has undergone various mechanical or chemical processes to alter or preserve it. Fungal protein is utilized as a meat substitute and alternative protein source in processed foods because it is considerably less polluting and more sustainable than livestock-derived protein. For example, in April 2024, data released by the National Association of Convenience Stores (NACS), a US-based trade association, revealed that total industry foodservice sales accounted for 26.9% of in-store sales in 2023, up from 25.6% in 2022, with prepared food sales rising by 12.2% per store per month, making it the leading in-store category. Therefore, the growing consumption of processed food is expected to propel the fungal protein market.
The increasing adoption of vegan and vegetarian lifestyles among individuals is anticipated to drive the growth of the fungal protein market. Veganism, characterized by the avoidance of animal products in all aspects of life, including food and clothing, has gained popularity. Fungal protein aligns with the principles of vegan and vegetarian diets, offering a sustainable and nutritious alternative to traditional animal-derived proteins. As of July 2023, approximately 6% of Americans identified as vegans, and nearly one-third expressed a desire to consume more vegan meals, indicating a growing trend in plant-based diets and contributing to the expansion of the fungal protein market.
Innovation is a significant trend gaining traction in the fungal protein market. Major companies in this sector are concentrating on creating innovative solutions and exploring new methods for working with myco-proteins to establish a competitive advantage. For example, in August 2024, Calysta, a UK-based biotechnology firm, introduced a new range of single-cell protein products derived from natural gas fermentation. This launch aimed to provide a sustainable alternative to conventional animal proteins. The innovative method employs a patented fermentation platform that transforms methane into high-quality protein, responding to the increasing demand for sustainable food sources. Calysta's products, such as FeedKind and Positive Protein, are intended for use in both animal feed and human food applications, fostering environmental sustainability by minimizing reliance on arable land and traditional protein sources.
Major players in the fungal protein market are increasingly adopting a strategic partnership approach to facilitate the swift implementation of hybrid product go-to-market strategies. This strategic collaboration involves companies leveraging each other's strengths and resources to achieve mutual benefits and success. An illustrative example is the partnership announced in May 2022 between MeaTech 3D Ltd., an Israel-based company specializing in 3D bioprinting technology for cellular agriculture, and ENOUGH. The collaboration aims to accelerate MeaTech's hybrid product go-to-market strategy by combining Peace of Meat's expertise in cultured avian growth with ENOUGH's innovative mycoprotein component. This partnership will result in groundbreaking hybrid alternative meat products that preserve the distinctive tastes, smells, and textures of traditional meat. Cultured bird fat biomass will provide the hallmark attributes, while ENOUGH's mycoprotein contributes significant nutritional value with high protein and fiber content, along with essential amino acids, zinc, and iron. ENOUGH, based in Scotland, is recognized for its large-scale production of mycoprotein ingredients.
In August 2024, Naplasol, a Belgium-based company specializing in plant-based meat alternatives, acquired Mycorena for an undisclosed sum. This acquisition is aimed at enhancing Naplasol's mycoprotein product portfolio and broadening sustainable solutions for the food, pet food, and feed industries. It will also facilitate the production of Mycorena's Promyc at Naplasol's facility in Bree, Belgium, thereby addressing the rising demand for alternative protein sources and strengthening its commitment to sustainable practices in food production. Mycorena is a Sweden-based biotechnology firm that utilizes fungi to develop alternative protein ingredients.
Major companies operating in the fungal protein market include Cayman Chemical Company, Chiron Biotechnology Co. Ltd., Duke Thomson's India Pvt. Ltd., DuPont de Nemours Inc., Merck Group, Royal DSM, Santa Cruz Biotechnology Inc., Siveele B.V., Halcyon Proteins Pty. Ltd., Kerry Group Plc., Lallemand Inc., Lesaffre Group, AngelYeast Co. Ltd., Associated British Foods Plc., Koninklijke DSM N.V., MycoTechnology Inc., Meati Foods, Quorn Foods, White Dog Labs, 3F BIO Ltd., Nature's Fynd, Sustainable Bioproducts, Perfect Day, Solar Foods, Geltor Inc., Clara Foods
Europe was the largest region in the fungal protein market in 2024. The regions covered in the fungal protein market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the fungal protein market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The fungal protein market consists of sales of mycoproteins. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Fungal Protein Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fungal protein market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fungal protein ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fungal protein market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.