DUBLIN, July 19, 2023 /PRNewswire/ — The “Fungal Protein Market By Type, Application, and Geography – Global Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.
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.
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.
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.
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?
Key Findings
- Growing demand for allergen-free foods and rising consumption of processed foods are key drivers of market growth.
- Increasing demand for meat substitutes is contributing to the expansion of the market.
- Undefined regulatory guidelines are expected to pose a notable restraint on market growth.
- Rising adoption of yeast extract in the processed foods industry presents significant growth opportunities for seaweed manufacturers.
- Emerging economies in Asia-Pacific and the Middle East offer promising growth prospects for the seaweed market.
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.).
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
For more information about this report visit https://www.researchandmarkets.com/r/p9ftw0
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SOURCE Research and Markets
