The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rising processed food consumption is likely to stimulate innovation in fungal protein synthesis, propelling the market during the forecast period.

The global fungal protein market is expected to grow from $3.56 billion in 2022 to $3.81 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The global fungal protein market size is expected to grow to $4.87 billion in 2027 at a CAGR of 6.4%.

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Global Fungal Protein Market Segments Include:

• By Type: Fusarium venenatum Extract, Mushrooms, Yeast Extract
• By Nature: Organic, Conventional
• By Application: Food and Beverages, Bakery, Processed Food, Dairy, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe is the largest region in the global fungal protein market in 2021.

Major Market Players in the fungal protein market include Cayman Chemical Company, Chiron Biotechnology Co. Ltd., Duke Thomson’s India Pvt. Ltd., DuPont de Nemours Inc., Merck Group, Royal DSM, Santa Cruz Biotechnology Inc., Siveele B.V.

In the fungal protein industry, innovation is a crucial trend that is gaining traction. To obtain a competitive advantage in the fungal protein market, major corporations are focusing on developing creative solutions and new ways of dealing with myco-proteins. For example, Novozymes A/S, a biotechnology firm located in Denmark, announced Myco-protein Innovation Call in September 2021, a global myco-protein innovation platform designed to aid in the scaling up of creative technologies for exploiting fungi as a source of protein. This worldwide platform promises to alter the way food is produced in the future by harnessing the power of fungi and mycelium. The Myco-protein Innovation Call brings together cutting-edge scientific and business capabilities from many businesses and sectors in order to revolutionise the global food industry at scale.

The Fungal Protein Global Market Report 2023  provides a fungal protein market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The fungal protein market forecast analyzes fungal protein market size, fungal protein market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Fungal protein is a food-grade protein component derived from a species of fungus that is suitable for human consumption. In the food sector, fungal protein is utilised to replace traditional protein sources such as beef.

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