Press release
Fungal Protein Market Size, Strategies, Trends Analysis, Segmentation And Forecast To 2032
Fungal Protein Market Analysis
The Business Research Company's Fungal Protein Global Market Report 2023 identifies rising consumption of processed foods as the major driver for the fungal protein market's growth in the forecast period. Processed food refers to a food item that has gone through several mechanical or chemical processes in order to change or preserve it. Fungal protein is used as a substitute for meat and other forms of protein in processed foods due to it being significantly less polluting and sustainable than protein from livestock.
The global fungal protein market size 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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. 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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Major competitors in the fungal protein market are Cayman Chemical Company, Chiron Biotechnology Co. Ltd., Duke Thomson's India Pvt. Ltd., DuPont de Nemours Inc., Merck Group.
A key trend in the fungal protein market includes innovation. Major companies operating in the fungal protein market are focusing on developing innovative solutions and new ways of working with myco-proteins to gain a competitive edge in the market. For instance, in September 2021, Novozymes A/S, a Denmark-based biotechnology company, launched Myco-protein Innovation Call, a global myco-protein innovation platform created to aid in the scaling up of innovative methods for using fungi as a source of protein. Using the power of fungi and mycelium, this global platform aims to change the way that food is produced in the future. Myco-protein Innovation Call brings together the most cutting-edge scientific and business skills from across industries and sectors in order to revolutionize the global food systems at scale.
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The fungal protein market is segmented -
1) By Type: Fusarium Venenatum Extract, Mushrooms, Yeast Extract
2) By Nature: Organic, Conventional
3) By Application: Food and Beverages, Bakery, Processed Food, Dairy, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the fungal protein market.
The Business Research Company's "Global Fungal Protein Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Fungal Protein Market Include:
1. Executive Summary
2. Fungal Protein Market Characteristics
3. Fungal Protein Market Trends And Strategies
4. Fungal Protein Market - Macro Economic Scenario
5. Fungal Protein Market Size And Growth
…….
26. Africa Fungal Protein Market
27. Fungal Protein Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Fungal Protein Market
29. Fungal Protein Market Future Outlook and Potential Analysis
30. Appendix
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