Fungal Protein Market to grow with a CAGR of 5.28 %
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Global Fungal Protein Market.
According
to TechSci Research report, “Global Fungal Protein Market Industry Size,
Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Fungal Protein Market
has valued at USD 3.52 billion in 2022 and is anticipated to witness an
impressive growth in the forecast period with a CAGR of 5.28% through 2028.
This can be due to collaborations and partnerships among leading companies with
a diverse approach to merge the expertise of individual companies and to
strengthen their position in the market. Sustainability and
environmental concerns are significant drivers of the demand for fungal
proteins in the Global Fungal Protein Market. Fungal proteins, particularly
mycoprotein and yeast-based proteins, are known for their relatively low
environmental footprint. The production of fungal proteins typically requires
less land, water, and energy compared to traditional animal agriculture. This
aligns with the increasing consumer and industry focus on sustainability.
Fungal protein production generates fewer greenhouse gas emissions, which is
crucial in the context of climate change mitigation.
Consumers
and businesses are seeking more climate-friendly protein sources, and fungal
proteins are seen as a viable option. Fungi are efficient at converting
nutrients into protein, which means that less input is required for their
cultivation. This efficiency contributes to resource conservation, including
land and water resources. The cultivation of fungi for protein production
generally has a lower impact on natural habitats and biodiversity when compared
to activities like livestock farming. Preserving ecosystems is an important
aspect of sustainability. Fungal protein production typically involves
controlled and sustainable farming practices that reduce soil erosion,
deforestation, and other harmful environmental effects associated with
conventional agriculture. Fungal proteins can be used as a sustainable seafood
alternative, reducing the pressure on overfished marine resources, and helping
to protect the world's oceans.
Fungal protein is a protein sourced from
sustainable fungi-based food products, including yeast-based extracts and
proteins derived from Fusarium venenatum. It offers a wealth of benefits, such
as being rich in proteins, vitamins, folic acid, and essential minerals, making
it an excellent choice for applications in human food, beverages, and animal
feed. The transformation, processing, and convenience of ready-to-eat food
products have become increasingly prevalent in emerging countries. Traditional
food customs and ethnic cuisines have been replaced by prepared and easily
consumable items, soft drinks, and Western-style fast foods. This shift towards
Westernized dietary patterns has resulted in higher consumption of calories,
sugars, fats, and animal-based products. Simultaneously, it has led to a
decrease in the consumption of staples like cereals, potatoes, and legumes.
In May 2023, the owner of Quorn, UK-based Marlow
Ingredient, has entered a partnership with Danish food start-up Tempty Foods to
introduce meat alternatives founded on mycoprotein, a "super protein"
derived from fungi that is commonly utilized in plant-based products. Marlow
mycoprotein is remarkable for its environmental benefits, with a carbon
footprint 40 times lower than that of beef and six times lower than chicken,
according to the company's information. In terms of water usage, Marlow mycoprotein
has an environmental footprint that is 30 times lower than beef, six times
lower than chicken, and Marlow Mince outperforms minced beef by a factor of 12
in terms of its water footprint.
Changing
consumer preferences can present challenges in the Global Fungal Protein
Market, as it can in any evolving industry. Rapid changes in consumer
preferences can create market uncertainty. Producers and suppliers may find it
difficult to predict and adapt to the demand for specific fungal protein
products. As consumer preferences become more diverse, producers must develop a
wider range of fungal protein products to cater to different dietary choices,
including vegan, vegetarian, flexitarian, and other specialized diets.
Consumers have high expectations for the taste and quality of fungal protein
products, especially in the competitive plant-based protein market. Meeting
these expectations requires ongoing innovation and product development.
Consumers increasingly seek clean label products with transparent ingredient
lists. Meeting these demands while maintaining the functionality of fungal
proteins can be a challenge. Fungal proteins are often chosen for their
sustainability, but consumers may expect producers to continually improve their
sustainability practices, both in terms of sourcing and production
Browse
over XX market data Figures and spread through XX Pages and an in-depth TOC on
" Global Fungal Protein Market.”
Global Fungal Protein Market is segmented based on
Type, Nature, Application and by region. Based on the Type, Global Fungal Protein
Market is segmented into Yeast,
Fusarium Venenatum. Fusarium venenatum is a species of filamentous
fungus that is used in the production of mycoprotein, a sustainable and
protein-rich food source. Fusarium venenatum is not a naturally occurring
fungus but was specifically selected and developed for its suitability in mycoprotein
production. Fusarium venenatum is the specific fungal strain used in the
production of mycoprotein. Mycoprotein is a high-protein food ingredient made
by fermenting Fusarium venenatum in a controlled environment. The production of
mycoprotein involves cultivating Fusarium venenatum in bioreactors under
carefully controlled conditions. During fermentation, the fungus consumes a
nutrient-rich substrate, typically glucose or another carbohydrate source, and
produces mycoprotein as a result. Mycoprotein has a fibrous and meat-like
texture, making it suitable for use in meat alternatives such as burgers,
sausages, and nuggets. It can also be used in various other food products.
Mycoprotein is known for its high protein content and nutritional value. It is
typically low in fat and saturated fat and is a good source of dietary fiber.
It contains all nine essential amino acids, making it a complete protein
source.
Based on Region, North America held the largest share in the Global Fungal Protein Market.
North America is a major player in global food trade. North America's diverse
population offered a broad and receptive customer base for new food products,
including alternative proteins. Different dietary preferences and requirements
drove the market for various protein alternatives. There was a growing
awareness of the environmental impact of food choices in North America. Fungal
proteins were seen as a more sustainable option compared to traditional animal
agriculture, which resonated with environmentally conscious consumers.
Government policies and regulations in North America were generally supportive
of plant-based and alternative protein production, which encouraged industry
growth.
Some
of the major companies operating in the Global
Fungal Protein Market include:
- Cayman
Chemical Company
- Chihon
Biotechnology Co., Ltd.
- Duke
Thomson's India Pvt. Ltd
- DuPont
de Nemours, Inc.
- Galactic
- Mayasan
Biotech
- Merck
Group
- Royal
DSM
- Santa
Cruz Biotechnology, Inc
- Siveele
B.V.
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“Certain areas, particularly in North
America, are projected to exert significant demand for Fungal Protein. The
growth in the competitive landscape and the presence of well-established
companies in the market, committed to enhance the overall wellbeing of people
each year, are expected to contribute to a remarkable growth of the Global
Fungal Protein Market in the forecast period," said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based Global management
consulting firm.
Fungal Protein Market by Type (Yeast, Fusarium Venenatum), By Nature
(Organic, Conventional), By Application (Food and beverages, Animal Nutrition,
Pharmaceuticals, Others), By
Region, By Competition Forecast
& Opportunities, 2018-2028F has
evaluated the future growth potential of Global Fungal Protein Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide innovative market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Fungal Protein Market.
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