Mycoprotein Market is estimated to reach at high CAGR of 5.5% by 2030 | DataM Intelligence

Market Overview:
Global mycoprotein market is estimated to reach at a high CAGR of 5.5% during the forecast period 2023-2030.
Mycoprotein is a source of protein-based nutrient which is gaining consumer interest as part of a balanced diet of vegan consumers. Mycoprotein is high in fiber, high in protein, low in saturated fat, and contains no cholesterol, which influences the consumption pattern and demand dynamics of the end products in a positive manner.
Mycoprotein products are similar to other meat alternatives like tempeh or seitan in terms of taste and texture. Since mycoprotein products contain a high proportion of different minerals and a high vitamin content, they are expected to see increased demand around the world. According to a study from the UK's University of Exeter, mycoprotein has a higher percentage of essential amino acids than plant-based options, and it's been shown to be great for athletes.

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Market Dynamics:
1. Rising number of vegans across the globe
2. Mycoprotein is a plant-based ingredient with a high protein content.
3. It is gaining popularity among vegetarians around the world and is commonly used as a meat substitute.
4. There is a rising trend of consumption of mycoprotein products due to their health benefits.

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Market Segmentation:
• By Type
o Frozen*
o Unfrozen
• By Distribution Channel
o Supermarkets*
o Convenience Stores
o Online Sales

Competitive Landscape:
Some of the key market participants in the global market for mycoprotein products are 3fbio Ltd, Quorn Foods (Marlow Foods Limited) and MycoTechnology, Inc., among the other players in the market for mycoprotein products.

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