Press release
Mycelium Market is on an Upward Growth Curve
According to the most recent research by InsightAce Analytic, the global mycelium market was worth $2.95 billion in 2021 and is projected to reach $5.49 billion by 2030, expanding at a CAGR of 7.3% from 2022 to 2030.
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Mycelium is present in unicellular and multicellular organisms, such as yeast and mushrooms. Mycelium is the root structure of fungi, consisting of branch mass and hyphae. Pure mycelium materials are entirely biodegradable and compostable at home, without adding plastic or fibre. These mycelium-based materials are eco-friendly alternatives to plastics and leather.
The growth of the mycelium industry is anticipated to be driven by factors such as the rising demand for natural ingredients and flavours in culinary products and the expansion of government initiatives to develop mycelium-based, green and eco-friendly products and packaging solutions. Moreover, efforts to reduce the use of non-biodegradable materials, the rapid adoption of eco-friendly technologies, the 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 is anticipated to create lucrative market growth opportunities over the forecast period. Due to the growing demand for eco-friendly and sustainable products and packaging, industries seek to produce novel biodegradable and recycled materials to remain competitive in the global marketplace. Thus increasing demand for mycelium, which in turn stimulates the market for mycelium.
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Due to the high demand for mycelium-based food products and the increasing efforts of companies to develop mycelium materials, North America is anticipated to be the most significant contributor to the mycelium market over the forecast period, followed by Europe. In addition, the Asia-Pacific market is expected to grow significantly over the forecast period due to the increasing initiatives for developing mycelium-based products and the rising demand for natural goods and eco-friendly packaging options.
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, 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, 2022-2030 (Value US$ Mn)
• Food and Beverage Industry
• Packaging Industry
• Clothing and Apparel Industry
• Animal Feed Industry
• Others
Global Mycelium Market, by Nature, 2022-2030 (Value US$ Mn)
• Raw
• Processed
Global Mycelium Market, by Form, 2022-2030 (Value US$ Mn)
• Pre-Formed Product
• Powder
• Tablet and Capsule
Global Mycelium Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Mycelium Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Mycelium Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Mycelium Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Mycelium Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Mycelium Market, by Country, 2022-2030 (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.https://www.insightaceanalytic.com/images_data/148861653.JPG
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