The Global Mycoprotein Market to grow from USD 298.45 million in 2022 to USD 691.03 million by 2030, at a CAGR of 11.06%.

PUNE, MAHARASHTRA, INDIA, November 16, 2023 /EINPresswire.com/ -- The "Mycoprotein Market by Form (Minced, Slices), Distribution Channel (Offline, Online), End-user - Global Forecast 2023-2030" report has been added to 360iResearch.com's offering.

The Global Mycoprotein Market to grow from USD 298.45 million in 2022 to USD 691.03 million by 2030, at a CAGR of 11.06%.

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Mycoprotein is a distinct form of single-cell protein derived from Fusarium venenatum, a naturally occurring fungus. This high-quality protein source, lower in total and saturated fat, offers a more sustainable and healthier alternative to traditional animal-derived proteins. Mycoprotein is rich in essential nutrients, includes a significant amount of dietary fibers, and aligns with the typical amino acid profile of meat. The mycoprotein market chiefly encapsulates the sectors involved in the production, processing, distribution, and end consumption of mycoprotein-loaded products. It serves a dynamic range of applications, from alternative protein sources in human food products to potential animal feed ingredients. The major factors propelling the growth of the mycoprotein market are increasing awareness of the health benefits of plant-based diets and growing demand for sustainable protein sources. This upward growth of mycoprotein is supported by expanding application of mycoprotein in animal feed products. However, the higher cost of mycoprotein products than conventional meat products and the complexities associated with the manufacturing of mycoproteins hinder the expanding adoption of mycoprotein. On the other hand, ongoing research and development for the production of mycoprotein and a growing trend toward personalized nutrition in the food & beverage industry present an untapped opportunity for manufacturers of mycoprotein to grow their business in the coming years.

End-User: Potential of mycoprotein in the food & beverage industry with the growing focus on plant-based diets
The mycoprotein is used in the Biotechnology segment as the choicest alternative to animal protein in bio-manufacturing processes; its demand skyrocketed due to its effectiveness in fungal strain development and protein expression. As a healthy, low-fat, high-protein ingredient, mycoprotein has created a wave in the food & beverage industry due to its environmentally friendly and affordable nature. It's farmed in fermentation tanks using renewable resources, making it a competitive substitute for traditional meat-based products. Mycoprotein, owing to its distinctive properties, such as being nutrient-rich and cholesterol-free, has been extensively explored within the pharmaceutical industry. It is being employed in the development of therapeutic products that aid in combating malnutrition and lifestyle diseases.

Distribution Channel: Rising accessibility of mycoprotein across online platforms among millennial and Gen Z consumers
Offline distribution channels include supermarkets, hypermarkets, wholesalers, and other direct-to-consumer retail outlets. Offline channels are preferred by users of mycoprotein due to the traditional shopping habits of consumers who prefer to physically inspect the products before purchasing. Online channels, on the other hand, have seen a meteoric rise in the past few years. Online channels offer various benefits such as easy price comparison, wider variety, and home delivery, which are seen as convenient by a large number of consumers, particularly among millennial and Gen Z consumers.

Form: Growing preference for minced for its convenience and versatility
The first form of mycoprotein is the minced form, which is an alternative protein type that is favored in dishes where a fine texture is desirable, such as pasta sauces, tacos, and shepherd's pie. Customers espouse the minced form for its convenience and versatility in a variety of meals. Its popularity also has grown due to its plant-based origin, high fiber content, and low fat, which are valued by a health-conscious demographic. The second form of mycoprotein under comparison is the Slices form. It is a protein substitute popularly used in sandwiches, salads, and stir fry dishes. Its nuanced texture and meaty nuances are appreciated by consumers, especially those wanting to reduce meat intake without sacrificing the sensory properties of their meals. Need-based preference for slices is noted among consumers who prefer ready-to-eat, low-preparation time meals.

Regional Insights:
In the Americas, the demand for mycoprotein is increasing due to growing interest in plant-based diets owing to health and environmental concerns. Consumer shift towards healthier food alternatives has given the mycoprotein sector an unprecedented boost. Amid increasing health and safety regulations, robust product labeling standards have been established to guarantee transparency to consumers as organizations such as The U.S. Food and Drug Administration (FDA) and Health Canada have made it compulsory for market vendors to disclose mycoprotein as a product ingredient. In the EMEA, France prioritizes the cultivation and consumption of sustainable protein sources, including mycoprotein. The country's strong agricultural sector has made it crucial in the mycoprotein market. In the Middle East and Africa, the market is in its early stages with limited adoption due to cultural preferences and lack of awareness. Despite this, promising government initiatives are encouraging sustainable plant-based diets, fostering research and investment. In the APAC region, countries such as China and India present a higher growth potential, given their massive population indices and a paradigm shift towards the consumption of plant-based diets. Indonesia, the Philippines, Malaysia, and Vietnam, while being developing countries, provide potential growth opportunities due to their rapid urbanization and growing health-conscious communities.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Mycoprotein Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Mycoprotein Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Mycoprotein Market, highlighting leading vendors and their innovative profiles. These include Advanced Biotech, Beyond Meat, Inc., De Smet Engineers & Contractors, Enough B.V., Eternal, General Mills, Inc., Givaudan SA, Impossible Foods Inc., Ingredion Incorporated, Marlow Foods Ltd. by Monde Nissin Corporation, Mycorena, MYCORENA AB, MycoTechnology, Inc., Nature's Fynd, Nosh Biofoods GmbH, Prime Roots, Inc., STI engineering S.r.l., Symrise AG, The Better Meat Co., and Yutong Industrial Co. Limited.

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Market Segmentation & Coverage:

This research report categorizes the Mycoprotein Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Form, market is studied across Minced and Slices. The Slices is projected to witness significant market share during forecast period.

Based on Distribution Channel, market is studied across Offline and Online. The Offline is projected to witness significant market share during forecast period.

Based on End-user, market is studied across Biotechnology, Food & Beverage, and Pharmaceutical. The Pharmaceutical is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 36.22% in 2022, followed by Americas.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Mycoprotein Market, by Form
7. Mycoprotein Market, by Distribution Channel
8. Mycoprotein Market, by End-user
9. Americas Mycoprotein Market
10. Asia-Pacific Mycoprotein Market
11. Europe, Middle East & Africa Mycoprotein Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Mycoprotein Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Mycoprotein Market?
3. What is the competitive strategic window for opportunities in the Mycoprotein Market?
4. What are the technology trends and regulatory frameworks in the Mycoprotein Market?
5. What is the market share of the leading vendors in the Mycoprotein Market?
6. What modes and strategic moves are considered suitable for entering the Mycoprotein Market?

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Mr. Ketan Rohom
360iResearch
+ 1 530-264-8485
ketan@360iresearch.com

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