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Mycoprotein Market worth $691.03 million by 2030, growing at a CAGR of 11.17% - Exclusive Report by 360iResearch
Mycoprotein Market | 360iResearch
The Global Mycoprotein Market to grow from USD 329.29 million in 2023 to USD 691.03 million by 2030, at a CAGR of 11.17%.
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Mycoprotein is a distinct form of single-cell protein derived from Fusarium venenatum, a naturally occurring fungus. This high-quality protein source, lower in total and saturated fat, offers a more sustainable and healthier alternative to traditional animal-derived proteins. Mycoprotein is rich in essential nutrients, includes a significant amount of dietary fibers, and aligns with the typical amino acid profile of meat. The mycoprotein market chiefly encapsulates the sectors involved in the production, processing, distribution, and end consumption of mycoprotein-loaded products. It serves a dynamic range of applications, from alternative protein sources in human food products to potential animal feed ingredients. The major factors propelling the growth of the mycoprotein market are increasing awareness of the health benefits of plant-based diets and growing demand for sustainable protein sources. This upward growth of mycoprotein is supported by expanding application of mycoprotein in animal feed products. However, the higher cost of mycoprotein products than conventional meat products and the complexities associated with the manufacturing of mycoproteins hinder the expanding adoption of mycoprotein. On the other hand, ongoing research and development for the production of mycoprotein and a growing trend toward personalized nutrition in the food & beverage industry present an untapped opportunity for manufacturers of mycoprotein to grow their business in the coming years.
In the Americas, the demand for mycoprotein is increasing due to growing interest in plant-based diets owing to health and environmental concerns. Consumer shift towards healthier food alternatives has given the mycoprotein sector an unprecedented boost. Amid increasing health and safety regulations, robust product labeling standards have been established to guarantee transparency to consumers as organizations such as The U.S. Food and Drug Administration (FDA) and Health Canada have made it compulsory for market vendors to disclose mycoprotein as a product ingredient. In the EMEA, France prioritizes the cultivation and consumption of sustainable protein sources, including mycoprotein. The country's strong agricultural sector has made it crucial in the mycoprotein market. In the Middle East and Africa, the market is in its early stages with limited adoption due to cultural preferences and lack of awareness. Despite this, promising government initiatives are encouraging sustainable plant-based diets, fostering research and investment. In the APAC region, countries such as China and India present a higher growth potential, given their massive population indices and a paradigm shift towards the consumption of plant-based diets. Indonesia, the Philippines, Malaysia, and Vietnam, while being developing countries, provide potential growth opportunities due to their rapid urbanization and growing health-conscious communities.
Market Segmentation & Coverage:
This research report categorizes the Mycoprotein Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Form, market is studied across Minced and Slices. The Slices is projected to witness significant market share during forecast period.
Based on Distribution Channel, market is studied across Offline and Online. The Online is projected to witness significant market share during forecast period.
Based on End-user, market is studied across Biotechnology, Food & Beverage, and Pharmaceutical. The Food & Beverage is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 35.77% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Mycoprotein Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Mycoprotein Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Mycoprotein Market, highlighting leading vendors and their innovative profiles. These include Advanced Biotech, Beyond Meat, Inc., De Smet Engineers & Contractors, Enough B.V., Eternal, General Mills, Inc., Givaudan SA, Impossible Foods Inc., Ingredion Incorporated, Marlow Foods Ltd. by Monde Nissin Corporation, Mycorena, MYCORENA AB, MycoTechnology, Inc., Nature's Fynd, Nosh Biofoods GmbH, Prime Roots, Inc., STI engineering S.r.l., Symrise AG, The Better Meat Co., and Yutong Industrial Co. Limited.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Mycoprotein Market, by Form
7. Mycoprotein Market, by Distribution Channel
8. Mycoprotein Market, by End-user
9. Americas Mycoprotein Market
10. Asia-Pacific Mycoprotein Market
11. Europe, Middle East & Africa Mycoprotein Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Mycoprotein Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Mycoprotein Market?
3. What is the competitive strategic window for opportunities in the Mycoprotein Market?
4. What are the technology trends and regulatory frameworks in the Mycoprotein Market?
5. What is the market share of the leading vendors in the Mycoprotein Market?
6. What modes and strategic moves are considered suitable for entering the Mycoprotein Market?
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