Mycoprotein Market – Trends Forecast Till 2031

Market Snapshot

Market Overview

The global Mycoprotein Market size was estimated at USD 770 million in 2024 and is projected to reach USD 1,090.7 million in 2031 at a CAGR of 5.10 % during the forecast period 2025-2031.

The mycoprotein market refers to the production and commercialization of protein derived from fungi, particularly Fusarium venenatum, which is used as a meat substitute in food products. Mycoprotein has gained popularity due to its high protein content, essential amino acids, and sustainability, making it an attractive alternative for individuals seeking plant-based options. It is primarily marketed in products such as meatless burgers, sausages, and nuggets, targeting the growing demand for plant-based proteins and catering to both vegetarians and flexitarians.

The scope of the mycoprotein market includes its applications in various segments, such as food, beverages, and animal feed. Food manufacturers use mycoprotein to create a wide range of meat alternatives, enhancing both texture and flavour in ways that appeal to consumers looking to reduce their meat consumption. The increasing shift toward plant-based diets, along with the global rise in veganism and flexitarianism, has significantly expanded the reach of mycoprotein-based products. Additionally, there are growing opportunities for mycoprotein in regions with increasing urbanization and evolving dietary patterns.

Several trends are shaping the mycoprotein market. One prominent trend is the rising consumer demand for sustainable and eco-friendly protein sources, as mycoprotein has a lower environmental footprint compared to traditional livestock farming. The focus on health and wellness also drives the demand for plant-based alternatives that are rich in protein but low in saturated fats. Moreover, innovation in product formulations and flavours has made mycoprotein more appealing to a broader consumer base, including those who are not entirely plant-based but are seeking healthier alternatives to meat.

Key drivers of the market include the growing concern about the environmental impact of animal agriculture, health-conscious consumers looking for protein alternatives, and the increasing availability of mycoprotein-based products across retail and foodservice channels. Additionally, rising awareness regarding food security and the need for alternative protein sources to feed the global population are pushing for more sustainable and efficient food production methods, further boosting the demand for mycoprotein as a viable solution in the protein market.

Delvens Industry Expert's Standpoint

Experts in the Mycoprotein Market highlight several key trends driving growth and innovation. The mycoprotein market involves the production of protein derived from fungi, primarily used as a meat substitute in plant-based products like burgers, sausages, and nuggets. It has gained traction due to its high nutritional value, sustainability, and appeal to health-conscious consumers and those seeking alternative protein sources. The market is driven by the rising demand for sustainable, eco-friendly food options, the shift towards plant-based diets, and increasing concerns over the environmental impact of livestock farming. With innovations in product offerings and growing awareness of the need for alternative protein sources, the mycoprotein market is expanding rapidly across food and beverage sectors worldwide.

Market Portfolio

Key Findings

• By type, the Mycoprotein Market is segmented into whole fungi, mycoprotein products, meat alternatives, and snacks. This classification reflects the growing trend toward more sustainable and health-conscious protein sources. Whole fungi, which uses the entire fungal organism, is favored for its unique texture, flavor, and nutritional advantages, offering a plant-based alternative to meat. Mycoprotein products are designed to replicate the taste and texture of traditional meat while being more sustainable. Meat alternatives are particularly appealing to those reducing their meat intake for health, ethical, or environmental reasons. The snacks sub-segment focuses on ready-to-eat products made from mycoprotein, catering to consumers seeking healthy and convenient snack options.

• By form, the Mycoprotein Market is divided into dry and liquid segments. Dry mycoprotein is widely used due to its versatility, long shelf life, and ease of incorporation into various food products, including protein-rich formulations and meat analogs. Its portability makes it a preferred choice for the food industry. On the other hand, liquid mycoprotein is gaining traction, especially in ready-to-eat and convenience foods. It provides a distinct texture and flavor that closely mimics traditional meat, making it ideal for plant-based sauces and beverages. As consumer preferences shift toward healthier diets, the liquid form of mycoprotein is becoming an increasingly popular choice for protein-rich smoothies and drinks.

• By application, the Mycoprotein Market is categorized into food & beverages, nutritional supplements, and animal feed. In the food and beverage industry, mycoprotein serves as a meat substitute in products like sausages and burgers, catering to vegans, vegetarians, and flexitarians. Its ability to replicate the taste and texture of meat makes it popular among consumers reducing meat consumption for health or environmental reasons. The nutritional supplements sub-segment focuses on mycoprotein’s high amino acid profile, making it an attractive option for fitness enthusiasts and those seeking to increase their protein intake. In the animal feed industry, mycoprotein is added to livestock diets to enhance growth and health, offering a sustainable alternative to traditional protein sources in response to the rising global demand for animal protein.

• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Asia Pacific region is projected to hold the largest market share. Factors such as Rising demand for plant-based diets, health-conscious consumers, environmental sustainability, innovations in product offerings, rising awareness of food security, growing vegan and flexitarian populations, widespread availability, health and wellness trends have triggered the Mycoprotein Market in the region.

Regional Analysis

Asia Pacific to Dominate the Market

• In 2024, North America captured a revenue share of 39.2% in the colorectal cancer (CRC) therapeutics market. The market is expected to experience steady growth, driven by the high incidence of CRC, increased treatment rates, and higher medication prices compared to other regions. Additionally, changing lifestyle factors, such as the growing consumption of alcohol, are contributing to the market's expansion. The International Agency for Research on Cancer (IARC) has linked alcohol consumption to CRC, with approximately 55% of the adult population in the U.S. reporting alcohol use in 2021.

• The Asia Pacific region is forecasted to experience the highest compound annual growth rate (CAGR) of 7.3% during the forecast period, fuelled by the rising geriatric population and the increasing involvement of public and private sectors in promoting colorectal cancer awareness. A study published in the National Library of Medicine in April 2022 revealed that pilot population-based CRC screening programs have been introduced in some administrative regions of China, which are expected to enhance early diagnosis and treatment of the disease.

Competitive Landscape

• Marlow Foods Ltd
• 3F Bio Ltd
• Tyson Ventures
• MycoTechnology, Inc.
• Temasek Holdings
• General Mills
• Beyond Meat Inc.
• Impossible Foods Inc.
• Quorn Foods
• Marlow Foods Ltd
• Yutong Industrial Co. Limited
• Shouguang Ftl Bio. Co., Ltd.
• Symrise
• Kernel Mycofoods

Recent Developments

• In December 2024, EndoQuest Robotics received FDA IDE approval for a clinical trial to assess the use of its surgical robot in colorectal lesion removal. The trial will include 50 participants across five sites in the U.S.

Reasons to Acquire

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Report Scope