About Fungi Based Protein
Mycoprotein is a protein-rich fungal-derived sustainable food source that was first discovered in the early 1960's. Mycoprotein is a form of single-cell protein, also known as fungal protein, derived from fungi for human consumption. It is known as sustainable source of protein. It is consist of yeast-based protein and fusarium venenatum based proteins. It is majorly used in number of food processing, meat alternatives products and animal nutrition. Rising demand for bakery food products and meat alternatives has created demand for fungal protein. Geographically, Asia Pacific and Europe have been recognized as highly growing market. Fungi Based Protein is widely used in North America in different types of food processing and meat alternatives. Therefore, Europe and Asia Pacific are considered to be the dominant market over forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market of solutions for Fungi Based Protein is expected to grow with rising demand from number of end use industries. Numerous companies are operating in the market to provide Fungi Based Protein in different market. The market is highly fragmented with the presence of several market players. They are gaining attention owing to their innovative and novel portfolio. In addition, market profitability is attracting new entrant which is turn impacted on competitive rivalry. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
DSM N.V (Netherland), AB Mauri (United States), Lesaffre Group (France), Alltech (United States), Lallemand, Inc. (Canada), Halcyon Proteins (Australia), Biospringer (France), Sensient Technologies Corporation (United States), Titan Biotech Limited Company(India), Kerry Group (Ireland), Uniliver (United States) and Chobani, LLC (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Fungi Based Protein market by , Application (Food & Beverages, Animal Nutrition, Meat Alternatives and Others) and Region.
On the basis of geography, the market of Fungi Based Protein has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Category, the sub-segment i.e. Natural will boost the Fungi Based Protein market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Solid will boost the Fungi Based Protein market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Direct will boost the Fungi Based Protein market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Huge Demand for Power form of Fungal Protein expected to gain High Market Share
Market Growth Drivers:
Rising Expenditure & Infrastructure of Food & Beverages Industry and Increasing Demand for Meat Alternatives
Challenges:
Consumer having Allergies with Fungal Products
Restraints:
Fluctuation in availability of Raw Material
Opportunities:
Technological Advancements with Production of Fungal Protein Production has Created Growth Opportunities for the Market and Growing Demand for Fungal Protein for Animal Nutrition
Market Leaders and their expansionary development strategies
In September 2021, Novozymes, a biological solutions company, has launched of the Myco-protein Innovation Call, a global platform designed to help scale up promising technologies for the use of fungi as a source of protein.
In May 2021, Unilever has established partnership with ENOUGH to develop more sustainable protein products. This partnership is mainly to produce delicious, nutritious range of protein. With this strategic initiative, range of nutritious protein with technological advancements in manufacturing process.
Key Target Audience
Fungi Based Protein Manufacturer, Fungi Based Protein Provider, Raw Material Suppler, Raw Material Suppliers, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.