Global Fungal Protein Market Segments 2024, Forecast To 2033
5 Mar, 2024
The fungal protein market has witnessed strong growth, increasing from $3.8 billion in 2023 to $4.06 billion in 2024, reflecting a 6.9% CAGR. Growth in the historic period is attributed to the increasing demand for plant-based proteins, rising interest in alternative protein sources, rising allergies to animal proteins, expansion of the food and beverage industry, environmental sustainability concerns, and government initiatives and regulations. Looking ahead, the market is expected to see strong growth, reaching $5.33 billion in 2028 with a 7.0% CAGR. Drivers include increasing consumer awareness, expanding veganism, expanding applications in various industries, global population growth, and investments in alternative proteins. Major trends include increasing consumer demand, product innovation, expanding applications, supply chain sustainability, and global market penetration.
Global Fungal Protein Market Key Driver
The fungal protein market is poised for growth, driven by the rising consumption of processed foods. Processed food, subjected to various treatments, witnesses an increase in exports. India's exports of agricultural and processed food goods grew by over 13% in the first eight months of the current fiscal, showcasing the impact of rising processed food consumption on the fungal protein market.
Get A Free Sample Of The Global Fungal Protein Market ReportGlobal Fungal Protein Market Segments
The fungal protein market covered in this report is segmented –
1) By Type: Fusarium Venenatum Extract, Mushrooms, Yeast Extract
2) By Nature: Organic, Conventional
3) By Application: Food and Beverages, Bakery, Processed Food, Dairy, Other Applications
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Europe was the largest region in the fungal protein market in 2023. The regions covered in the fungal protein market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Fungal Protein Industry Players
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.; BlueNalu; Clara Foods; Terravia Holdings Inc. (formerly Solazyme); Entomo Farms; New Wave Foods
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AIOps Fungal Protein Market Overview
Fungal protein refers to the food-grade protein ingredient made from a type of fungus for human consumption. Fungal protein is used to substitute traditional protein sources such as meat in the food industry.
Fungal Protein Global Market Report 2023 provides data on the global fungal protein market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The fungal protein market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.