Press Release

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.

 

Download Free Sample Report

Customers can also request 10% free customization on this report.

 

“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.

 

Contact

Techsci Research LLC

420 Lexington Avenue, Suite 300,

New York, United States- 10170

Tel: +13322586602

Email: [email protected]

Website: www.techsciresearch.com

Relevant News