Fungus Protein Market - Forecast(2024 - 2030)

Report Code: FBR 0667 Report Format: PDF + Excel

Fungus Protein Market Overview:

The global Fungus Protein Market size is estimated to reach $650 million by 2030, growing at a CAGR of 10.4% during the forecast period 2024-2030. Increasing health and wellness consciousness, as well as the consumption of high protein meat meals with healthier components, are likely to boost the worldwide Fungus Protein products market. Fungus Protein, also known as mycoprotein, is a high-protein-content plant-based substance. As a result, it is gaining popularity among vegetarians worldwide and is frequently used as a meat alternative. As a result of this reason, the worldwide Fungus Protein market is seeing increased demand as the world's vegan population grows.

Furthermore, because of the health benefits that Fungus Protein products give, consumption is increasing. They include a lot of nutraceutical elements and are beneficial for your cholesterol. Fungus Protein-containing products are also suggested to benefit in weight management since they induce a feeling of fullness. As a consequence of all of these factors, the market for Fungus Protein products is expected to have significant growth prospects.

Market Snapshot:

Fungus Protein market - Report Coverage:

The “Fungus Protein market - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Fungus Protein Market.



By Type

  • Feed Grade

  • Food Grade

By Form

  • Minced

  • Slices

By Application

  • Meat Alternatives

  • Pet Food

  • Feed

  • Meat Extenders

  • Others

By Distribution Channel

  • Supermarkets & Hypermarkets

  • Convenience Stores

  • Online Stores

  • Specialty Stores

  • Others                                                     

By Geography

  • North America (U.S., Canada and Mexico)

  • Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe),

  • Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific),

  • South America (Brazil, Argentina, Chile, Colombia and Rest of South America)

  • Rest of the World (Middle East and Africa).


COVID-19 / Ukraine Crisis - Impact Analysis: 

      The worldwide Fungus Protein market was negatively impacted by COVID-19. With a lockdown and tight controls implemented, global production activity was halted in the first half of 2020. Worries about a rise in animal-borne illnesses such as COVID-19, as well as health issues and a desire for clean label and natural goods, have all propelled the plant-based meat industry and are forging ahead throughout the forecast period. Due to the COVID pandemic, businesses are spending extensively in the retail industry. Some firms have already begun to adjust their marketing tactics in response to the rapid surge in demand.

      The supply chain disruption due to the Russia-Ukraine war has impeded the Fungus Protein Market growth. The disruption has increased freight charges, created container shortages and lowered the availability of warehousing space. This has resulted in inflationary issues in the aftermarket. The conflict has also led to changes in trade dynamics. The souring trade relations between Russia and Ukraine has led to Fungus Protein producers in Ukraine seeking alternative export markets despite slowdown in production.

Key Takeaways:

      Fast Growth of Europe Region

North America currently dominates the global Fungus Protein market, with the highest market share followed by Europe. This is primarily due to the presence of key producers and the growing manufacturing capacity for Fungus Protein products in Europe and North America. The Fungus Protein market in Germany is experiencing significant growth, driven by the increasing demand for meat substitutes. Germany has witnessed a rise in veganism, with the highest number of vegan product launches globally, as highlighted in a study by the US Department of Agriculture's International Agricultural Service. The report "Prevalence of Persons Following a Vegetarian Diet in Germany" from 2022 indicates that 8.1% of women and 3.5% of men in Germany were vegetarians or vegans. The younger population, specifically those between 18 to 29 years old, showed even higher numbers, with 9.2% of women and 5.0% of men following a vegetarian/vegan diet. Moreover, the impact of being a vegetarian or vegan extended beyond the avoidance of animal products, influencing dietary choices in other aspects as well.

      The primary distribution channel for Fungus Protein products is dominated by supermarkets.Supermarkets will continue to dominate the market in 2023, accounting for a sizable share of global sales. This is due to the fact that consumers will be able to pick from a large range of items from a single place, allowing them to choose the quality and quantity that best matches their needs. Because they have reduced operating and selling charges, these channels will be able to deliver  items at more affordable pricing. Furthermore, these supermarkets frequently give quality assurance for the items they sell, which is projected to drive expansion in the sector. Consumer attitudes towards meat products have altered, pushing supermarkets to provide alternatives in order to sustain financial income and a competitive advantage over competitors.

      Growing Health Consciousness to drive the market growth

Increasing awareness about the health benefits of plant-based diets and the negative impacts of excessive meat consumption has led to a rise in demand for meat substitutes like Fungus Protein. Consumers are seeking healthier alternatives that offer high protein content, low saturated fat, and cholesterol-free options, making Fungus Protein an attractive choice. Fungus Protein is known for its high protein content. Protein is an essential nutrient that plays a crucial role in muscle development, tissue repair, and overall health. With growing health consciousness, individuals are seeking protein-rich alternatives to traditional meat sources. Fungus Protein provides a plant-based, low-fat protein option, making it appealing to health-conscious consumers.

      Growing number of vegans across the globe

The global demand for Fungus Protein, a plant-based ingredient known for its high protein content, is surging among vegetarians worldwide as a popular meat substitute. This rise in demand is attributed to the growing number of vegans globally. In May 2022, approximately one in two Americans identified as flexitarians, showcasing a significant dietary shift from one in five Americans in 2018. A survey conducted by Sprouts Farmers Market and One Poll in January 2022 revealed that 47% of respondents described themselves as flexitarians. Interestingly, flexitarian diets were more prevalent among younger generations, with 53% of Generation Z and 50% of Generation X adhering to this dietary approach, in contrast to only 26% of baby boomers. The flexitarian trend has been further promoted by initiatives like Veganuary and meatless Mondays in the United Kingdom, contributing to the increasing popularity of Fungus Protein. In the UK, the percentage of individuals identifying as flexitarians rose from 28% in 2017 to 54% in 2022. Furthermore, the consumption of Fungus Protein products is on the rise due to their perceived health benefits. These products boast a high nutritional content, which is believed to help lower cholesterol levels. Additionally, Fungus Protein products are thought to aid weight loss by inducing a sensation of fullness. Considering these factors, the global market for Fungus Protein products is expected to experience rapid expansion in the coming years.

      High Production Costs may impede market expansion.

The production of Fungus Protein can be costly, primarily due to the specialized fermentation techniques and controlled environment required. The cost of raw materials, such as feedstock for the fungi, and the energy-intensive processes involved can contribute to higher production costs, making Fungus Protein less economically competitive compared to other meat substitutes.

Fungus Protein Market Share (%) By Region, 2023

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in Fungus Protein Market. The top 10 companies in this industry are listed below:

  1. Marlow Foods Ltd.
  2. 3F Bio Ltd.
  3. Myco Technology, Inc.
  4. General Mills
  5. Beyond Meat, Inc.
  6. Impossible Foods, Inc.
  7. Atlast Food Co.
  8. Yutong Industrial Co. Ltd.
  9. Temasek Holdings
  10. Symrise AG

Scope of Report:

                  Report Metric


Base Year Considered

  • 2023

Forecast Period

  • 2024–2030


  • 10.5%

Market Size in 2030

  • $650 million

Segments Covered

  • Type, By Form, By Applications, By Distribution Channel, By Geography

Geographies Covered

  • North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

For more Food and beverage Market reports, please cilke here
1. Fungus Protein Market - Overview
    1.1 Definitions and Scope
2. Fungus Protein Market - Executive Summary
3. Fungus Protein Market - Comparative Analysis
    3.1 Company Benchmarking - Key Companies
    3.2 Global Financial Analysis - Key Companies
    3.3 Market Share Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Fungus Protein Market - Start-up Companies Scenario 
    4.1 Key Start-up Company Analysis by
    4.1.1 Investment
    4.1.2 Revenue
    4.1.3 Venture Capital and Funding Scenario
5. Fungus Protein Market – Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Fungus Protein Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porter's Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Fungus Protein Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Fungus Protein Market – by Type (Market Size – $Million/$Billion) 
    8.1 Feed Grade Mycoprotein
    8.2 Food Grade Mycoprotein
9. Fungus Protein Market – by Form (Market Size – $Million/$Billion) 
    9.1 Minced
    9.2 Slices
10. Fungus Protein Market – by Application (Market Size – $Million/$Billion)
   10.1 Meat Alternatives
   10.2 Pet Food
   10.3 Feed
   10.4 Meat Extenders
   10.5 Others
11. Fungus Protein Market– by Distribution Channel (Market Size – $Million/$Billion)
   11.1 Supermarkets & Hypermarkets
   11.2 Convenience Stores
   11.3 Online Stores
   11.4 Specialty Stores
   11.5 Others
12. Fungus Protein Market – by Geography (Market Size – $Million/$Billion) 
    12.1. North America
        12.1.1 The U.S.
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 The UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Spain
        12.2.6 Russia
        12.2.7 The Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 India
        12.3.3 Japan
        12.3.4 South Korea
        12.3.5 Australia & New Zealand
        12.3.6 The Rest of Asia-Pacific
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Chile
        12.4.4 Colombia
        12.4.5 The Rest of South America
    12.5 The Rest of the World
        12.5.1 The Middle East
        12.5.2 Africa
13. Fungus Protein Market – Entropy
14. Fungus Protein Market – Industry/Segment Competition Landscape 
    14.1 Market Share Analysis
        14.1.1 Market Share by Product Type – Key Companies
        14.1.2 Market Share by Region – Key Companies
        14.1.3 Market Share by Country – Key Companies
    14.2 Competition Matrix
    14.3 Best Practices for Companies
15. Fungus Protein Market – Key Company List by Country Premium Premium 
16. Fungus Protein Market - Company Analysis
    16.1 Marlow Foods Ltd.
    16.2 3F Bio Ltd.
    16.3 Myco Technology, Inc.
    16.4 General Mills
    16.5 Beyond Meat, Inc.
    16.6 Impossible Foods, Inc.
    16.7 Atlast Food Co.
    16.8 Yutong Industrial Co. Ltd.
    16.9 Temasek Holdings
    16.10 Symrise AG

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The Fungus Protein Market is projected to grow at 10.5% CAGR during the forecast period 2023-2030.

Global Fungus Protein Market size is estimated to be $320 million in 2023 and is projected to reach $650 million by 2030.

The leading players in the Fungus Protein market are Marlow Foods Ltd., 3F Bio Ltd., Myco Technology, Inc., General Mills, Beyond Meat, Inc., and others

Rising Demand for Plant-Based Proteins, Technological Advancements in Fermentation, Focus on Sustainable and Clean Label Products are some major trends that will shape the market in future.

Rising number of vegans across the globe, Growing Health Consciousness, search for alternative protein sources, rising Demand for Plant-Based Proteins are some driving factors and opportunities for the Fungus Protein market.