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Mycelium Market | Size, Share and Scope Analysis to 2031
According to the latest research by InsightAce Analytic, the global mycelium market is valued at US$ 3.14 Billion in 2022, and it is projected to reach US$ 5.99 Billion by 2031, with a CAGR of 7.5 % throughout a forecast period of 2023-2031.
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Single-celled and multicellular organisms like yeast and mushrooms both contain mycelium. The branch mass and hyphae of the mushroom's mycelium make up its root system. Without plastic or fiber additives, the pure mycelium materials are completely biodegradable and compostable at home. These mycelium products are eco-friendly substitutes for leather and plastics alike.
It is predicted that factors such as rising government initiatives to develop mycelium-based, green, and eco-friendly products and packaging solutions will propel the growth of the mycelium industry. These include factors like the rising demand for natural ingredients and flavors in food products. Additionally, during the forecasted period, increasing efforts to reduce the use of non-biodegradable materials, rapid adoption of eco-friendly technologies, quick production of flavor-infused mycelium in contrast to conventional, labor-intensive methods, and the high public preference for organic, natural, plant-based ingredients in food products are anticipated to present lucrative market growth opportunities. Due to the growing demand for eco-friendly and sustainable products and packaging, companies are looking for novel biodegradable and recycled materials to help them compete in the business sector. As a result, the demand for mycelium rises, boosting the mycelium market.
North America is anticipated to be the major contributor to the Mycelium market over the forecast years because of the huge demand for mycelium-based food products and firms' rising efforts to produce mycelium materials. In addition, the Asia Pacific Mycelium market is expected to grow significantly during the forecast period due to increased initiatives to develop mycelium-based goods and rising demand for natural products and eco-friendly packaging solutions.
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Major market players operating in the Mycelium market include
Atlast, Chinova Bioworks, ENOUGH, Four Sigmatic, Forij.co., FreshCap Mushrooms LTD, Grown.bio, Mushlabs GmbH, Mycelia NV, Meati Inc., Monaghan Group, MycoTechnology, Inc., Mycotech Lab, MycoWorks, Ecovative LLC, eniferBio, Groundwork BioAg, MOGU, Mycorena, Norwegian Mycelium, Mycovation, Magical Mushroom Company, Mushroom Material, Nature's Fynd, PRIME ROOTS, Quorn, Biomyc, Mushroom Material, Bolt Threads, Paradise Packaging Co.Scelta Mushrooms, Changsha Botaniex Inc., Ecovative, KingHerbs Limited, Gurelan Cooperative, Innomy Labs, Life Cykel, Michroma, MUD/WTR, Mycovation among others.
Recent collaborations and agreements in the market:
• In January 2022, Forager is a part of Ecovative, a mycelium materials firm that focuses on designing, marketing, and manufacturing vegan, plastic-free leather-like materials and fungi-based foams for the fashion and automobile industries.
• In March 2021, MycoWorks collaborated with Hermes to create a version of the Victoria bag. It will be the first product to use Sylvania, a mycelium-based leather.
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Market Segments
Global Mycelium Market, by Application, 2023-2031 (Value US$ Mn)
• Food and Beverage Industry
• Packaging Industry
• Clothing and Apparel Industry
• Animal Feed Industry
• Others
Global Mycelium Market, by Nature, 2023-2031 (Value US$ Mn)
• Raw
• Processed
Global Mycelium Market, by Form, 2023-2031 (Value US$ Mn)
• Pre-Formed Product
• Powder
• Tablet and Capsule
Global Mycelium Market, by Region, 2023-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Mycelium Market, by Country, 2023-2031 (Value US$ Mn)
• U.S.
• Canada
Europe Mycelium Market, by Country, 2023-2031 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Mycelium Market, by Country, 2023-2031 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Mycelium Market, by Country, 2023-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Mycelium Market, by Country, 2023-2031 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global Mycelium market
To receive an industry overview and future trends of the Mycelium market
To analyze the Mycelium market drivers and challenges
To get information on the Mycelium market value (US$Mn) forecast to 2030
To get information on significant investments, mergers & acquisitions in the Mycelium market industry
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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