Dublin, Aug 29, 2023 (Globe Newswire) — ‘Mycelium Market – Global and Regional Analysis: Focus on Mycelium Products and Applications, Supply Chain Analysis, Country Analysis – Analysis and Forecasts, 2023 ~ 2028” report has been created.add to of ResearchAndMarkets.com Recruitment.
The global mycelium market was valued at $2.85 billion in 2022 and is expected to reach $4.76 billion by 2028, growing at a CAGR of 9.39% between 2023 and 2028. Masu.
As the mycelium market enters its early stages, research and development efforts to create mycelium-based products are gaining momentum. This surge coincides with consumer preferences shifting toward plant-based meats and veganism.
The trajectory of the global mycelium market will be driven by the growing demand for sustainable materials and their role in promoting the circular economy.
This situation creates significant opportunities in the form of increased investment in mycelium research and development. The versatile properties of the mycelium allow customization for a wide variety of applications, facilitating adoption across the pharmaceutical, construction, electronics and skincare industries.
As the world looks to achieve net-zero emissions, a paradigm shift towards green and sustainable products not only addresses pressing environmental challenges, but also reveals significant sales and financing prospects. . This change is particularly noticeable in the food and beverage sector, especially in regions such as North America and Europe. Notably, U.S. plant-based meat retail sales increased by 7%, and by 2022 he will reach a staggering $8 billion. This trend highlights the potential of mycelium as a promising alternative to traditional animal foods.
Additionally, mycelium-based packaging is set to make waves in the plastic and Styrofoam packaging industry. Pioneering companies such as Dell and IKEA are already experimenting with mycelium-based packaging for their products. Cosmetic companies have also adopted mycelium-based packaging, recognizing its strength and leak-proof properties. As a result, the customizable nature of mycelium has positioned it as a versatile choice in industries around the world.
What value will this report bring to your organization?
This product segment helps readers to understand different types of mycelium products and their global potential that can be deployed in food, beverage, clothing, packaging, and other industries. Therefore, the mycelium business is a low-investment, high-return agricultural model.
The global mycelium market is witnessing significant developments with major players operating in the market such as business expansions, partnerships, collaborations and joint ventures. The strategy favored by companies has been product launches to strengthen their position in the mycelium market. For example, in January 2022, M&S Foods partnered with Monaghan Group to supply mycelium protein-based vegetable balls and vegetable mince to expand the range of plant-based kitchens.
Key players in the global mycelium market analyzed and profiled in the study include mycelium-based product manufacturers offering raw or processed products. Additionally, detailed competitive benchmarking of the players operating in the global Mycelium market is provided to help readers understand how players compete with each other and present a clear market landscape.
Moreover, comprehensive competitive strategies such as partnerships, agreements, and collaborations help readers understand the untapped revenue pockets of the market.
Overview of Key Market Players and Competition
The companies featured are selected based on information gathered from leading experts and analysis of company coverage, product portfolio and market penetration.
The global mycelium market is segmented due to the presence of many regional and national players in different countries. Together, these companies account for approximately 35.09% of the total global mycelium market. Others with 64.91% market share are dominated by Mycorena, eniferBio, Bosque Foods, Aqua Cultured Foods, Kinoko-Tech and others.
Of the total number of companies analyzed, 55% belong to the food and beverage industry and the remaining 45% belong to other segments such as packaging and textiles.
market segmentation
The global mycelium market in the application area is expected to be dominated by the food and beverage industry. This is because mycelium is a highly nutritious product with properties that can be customized and processed to obtain a variety of products.
The global mycelium market in the natural field is slightly dominated by the processed mycelium field. This is due to the wide variety of products that can be manufactured, resulting in increased adoption and usage by end-users worldwide.
The preformed products segment dominates the global mycelium market in the foam segment due to the high adoption of preformed products in products such as food and beverages, clothing, and packaging. The powder form takes second place due to the long shelf life and durability of the composition mixture.
Recent developments in the global mycelium market
- In March 2023, Better Meat Co established its first-ever Scientific Advisory Board (SAB). Composed of leading experts in fungi, cell biology, metabolism, genetics and food safety, the committee will improve the use of mycelia in both hybrid and animal-free meat applications. We support the efforts of Better Meat.
- In November 2022, Ecovative LLC partners with luxury leather manufacturer Ecco Leather, a division of Danish footwear giant Ecco, to create and market a “next generation mycelium material” for footwear, clothing and accessories. Did.
- In January 2023, MyForest Foods Co. announced the launch of a new product named My Jerky. Similar to his MyBacon, a vegan alternative to pork bacon, MyJerky is a mycelium-based alternative to beef jerky.
- In November 2022, Meati Inc. collaborated with Sweetgreen to launch the Miso Meati Bowl, a new flavorful and nutritious ready-to-eat rice bowl. This is the first time Meati has appeared on a fast-casual restaurant menu, and the first collaboration between Sweetgreen and Mycelium Base.
- In April 2023, eniferBio raised $11 million in Series A funding round from Nordic Foodtech Ventures, Tesi, Valio, Voima Ventures and Aqua-Spark to expand its PEKILO P65 business.
Key Attributes:
| report attribute | detail |
| number of pages | 358 |
| Forecast period | 2023-2028 |
| 2023 Estimated Market Value (USD) | $3.03 billion |
| Projected Market Value (USD) to 2028 | $4.76 billion |
| compound annual growth rate | 9.4% |
| Target area | global |
Industry outlook
trend
- Promote circular economy
- Mycelium-based organic electronics
- Expanding use of biofabrication technology
- Ecosystem/Ongoing Programs
- regulatory landscape
business chance
- Increased R&D investment in the mycelium sector
- Novel multidirectional applications of mycelium
- Adoption of mycelium in the pharmaceutical and skin care industries
- Production of biodegradable materials using mycelium
- Adoption of mycelium in the textile and fashion industry
- Adopting mycelium to produce sustainable packaging
- Introduction of mycelium to building material production
- Modifiable material properties of mycelium
business driver
- Increased innovation in sustainable and environmentally friendly products
- Changes in consumer behavior and preferences
- Research and technological advances
business challenges
- Challenges to scalability and commercialization
- Transition from conventional materials
- Market strategy and development
- Product development and innovation
market development
- Management strategy
- Partnerships, Collaborations, Joint Ventures
- A snapshot of the corporate strategies adopted by key players in the global mycelium market
Case Study
- Bosque Foods in the food and beverage industry
- Ecovative LLC in the packaging industry
- MycoWorks in the textile industry
investment landscape
- Funding analysis
- major investor
- Financing status
Major companies featured:
Food and beverage industry
- aqua farmed food
- Bosque Foods
- Chinova Bioworks
- sufficient
- Kinoko-Tech
- Mitty Co., Ltd.
- monaghan group
- mashed food
- mash rub
- Myco Technology Co., Ltd.
- My Forest Foods Co., Ltd.
- Nature’s Find
- prime roots
- Quorn
- The Better Meat Company
packaging industry
- biomic
- Magical Mushroom Company
- mushroom material
textile industry
- bolt screw
- mycotech lab
- myco works
Other key players
- Ecobative LLC
- Enifer Bio
- Shimoji Bio Ag
- can
- Mykolena
Report scope
application
- Food and beverage industry
- packaging industry
- textile industry
- others
Nature
shape
- preform product
- powder
- liquid culture
- tablets and capsules
region
- North America – USA, Canada, Mexico
- Europe – Italy, Germany, Holland, Poland, France, Rest of Europe
- China
- England
- Asia Pacific – Japan, India, South Korea, Australia, New Zealand, and Rest of Asia Pacific
- South America – Brazil, Argentina, Peru, and the rest of South America
- Middle East and Africa – South Africa, Israel, UAE, and Rest of Middle East and Africa
For more information on this report, please visit https://www.researchandmarkets.com/r/mx3rml.
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https://www.globenewswire.com/news-release/2023/08/29/2733107/28124/en/Global-Mycelium-Research-Report-2023-2028-From-Construction-to-Skin-Care-Mycelium-s-Customizability-Shaping-Industries-Globally.html
