Press release
Mycelium Market | Major market players are Atlast, Chinova Bioworks, ENOUGH, Four Sigmatic, Forij.co., FreshCap Mushrooms LTD, MycoTechnology, Inc., Mycotech Lab, MycoWorks, Ecovative
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According to the latest research by InsightAce Analytic, The Mycelium Market Size is valued at 3.14 Billion in 2022 and is predicted to reach 5.99 Billion by the year 2031 at a 7.5 % CAGR during the forecast period for 2023-2031.
The mycelium can be found in single-celled and multi-celled organisms such as yeast and mushrooms. Mycelium is the root structure of mushrooms that comprises branch mass and hyphae. The pure mycelium materials are fully biodegradable and home-compostable, without plastic or fibre additives. These mycelium materials are sustainable alternatives to everything from plastics to leather.
Factors such as the increasing demand for natural ingredients and flavours in food items, increasing government initiatives to innovate mycelium-based, green and eco-friendly products and packaging solutions is estimated to drive the growth of the Mycelium industry. Moreover, growing efforts towards minimizing the usage of non-degradable materials, rapid adoption of eco-friendly technologies, fast production of flavoured mycelium compared to traditional, time-consuming methods, and the high public preference for organic, natural, plant-based ingredients in food products are expected to offer lucrative market growth opportunities during the projected period. Due to the increasing demand for eco-friendly and sustainable products & packaging, industries look for generating novel biodegradable and recycled materials to sustain themselves in this competitive world of businesses. Thus, increasing the demand for mycelium, which in turn boost the mycelium market.
North America is anticipated to be the major contributor to the mycelium market over the forecast years, followed by Europe due to the high demand for mycelium-based food products and the increasing efforts of companies for developing mycelium materials. In addition, the Asia Pacific regional market is expected to register significant growth during the estimated period owing to the increasing initiatives for innovating mycelium-based products and the 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, MycoTechnology, Inc., Mycotech Lab, MycoWorks, Ecovative LLC, eniferBio, Groundwork BioAg, MOGU, Mycorena, Norwegian Mycelium, Mycovation, Grown.bio, Mushlabs GmbH, Mycelia NV, Meati Inc., Monaghan Group, 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, Ecovative, a mycelium materials company, launched Forager, a division focused on designing, marketing, and manufacturing vegan, plastic-free leather-like materials and fungi-based foams for the fashion and automotive industries.
• In March 2021, MycoWorks partnered with luxury brand Hermes to make a version of the Victoria bag. It will be the first product with the use of a mycelium-based leather called Sylvania.
• In November 2020, Bolt Threads partnered with Adidas, Kering, Lululemon and Stella McCartney to launch Mylo material products in 2021.
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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 get this report:
To get a detailed analysis of the prospects for the global mycelium market
To get a market overview and future trends of the mycelium industry
To analyze the mycelium market drivers and challenges
To get information on the mycelium market value (US$ Mn) forecast to 2030
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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