Mycelium Market

Mycelium Market Outlook (2022-2032)

Mycelium is the vegetative part of fungus which consists of branch mass and hyphae, which is a thread-like structure. These are the fungal colonies found in soil and within many other substrates. The increasing demand for natural ingredients and flavors in the food industry is likely to surge the demand for mycelium, which in turn will boost the overall market. Huge investments are made in attractive technology solutions for the fast production of flavored mycelium, instead of fermentation through the traditional, time-consuming, and labor-intensive methods.

Mycelium is a fungi-like organism that serves many benefits to the whole ecosystem. The mycelium can be found in single-celled as well as multiple-celled organisms like yeast and mushrooms. This plays an essential role in the decomposition process. Mycelium is a source of food for various herbivorous mammals and constitutes a large part of their diet. Mycelium and its by-products are used to produce leather which is used to manufacture many products.

The worldwide mycelium arcade is valued at USD 2.76 Billion in 2022. The market is expected to surpass the valuation of USD 5.85 Billion by end of 2032. The arcade is likely to expand with a CAGR of 7.80% in the forecast duration.

Report Attributes	Details
Market size (2022 A)	USD 2.76 Billion
Base Year for Estimation	2022
Forecast duration for this research	2022-2032
Forecasted Market value (2032 F)	USD 5.85 Billion
Global Market Growth rate (2022-2032 E)	CAGR of 7.80%
Key Companies Profiled	Ecovative Gurelan Cooperative Mycelia BVBA KingHerbs Limited Changsha Botaniex Inc.

What driving market growth in mycelium?

The rapidly growing urbanization and increasing awareness among consumers about health and well-being increase the demand for natural flavors such as mycelium, which in turn surges the overall volume of demand in the global market. The incorporation of more flavors to enhance the palatability of the food enhances the market for mycelium globally.

The increasing emphasis provided on the unique taste in processed food and beverages is the major factor that drives the global mycelium market. Furthermore, the rising inclination towards organic and natural ingredients and flavors in food products is also likely to infuse the global market for this product. The increasing demand for extended shelf life for foods is another attribute of mycelium, which contributes to the surge in the global mycelium market.

What restraints the growth of the mycelium market?

The major concern hindering the mycelium arcade is its usage as a construction material for the reason it cants support much weight. This is used in concrete and insulation material for walls. With time the mycelium loses its resistance to water and may be subject to humidity. Additionally, mycelium is not readily available in the abandoned amount which may deter the demand-supply of product in the forecast period. The loss of strength after long exposure to moisture may hinder the usage of mycelium in packaging applications.

Impact of covid-19 on mycelium products

The mycelium products are not commercialized there was less impact of the covid-19 pandemic on the product and its production overall. The rise in the trend of veganism is anticipated to have a positive impact on the mycelium market in the upcoming period. Mycelium contains medicinal properties and has low calories which are effective as an immunity booster. As a result, the consumption and demand for this product are likely to increase during the post-pandemic period.

Regional Outlook

North America is the dominating region in the mycelium market in terms of revenue share. Europe and the Asia-Pacific region follow North America in the market. The growing demand for natural-based products and the growing food and beverage industry majorly drive the increasing consumption of mycelium in these regions.

Moreover, health-conscious consumers also lead to a growing demand for mycelium globally. Primarily North American Market is paying keen attention to clean labels and their benefits, thus aiding the manufacturing of natural-made food flavors like mycelium. Regions like Europe and Asia-Pacific have focused on massive investments in the research and development of various production methods of mycelium, which are less labor-intensive and time-consuming.

“High fragmentation in the Mycelium market players gives room for innovation in the market”

The major players in the mycelium arcade are using various internal and external strategies to increase their footprint in the global market. Some of the players in the mycelium industry include Ecovative, Guerlain Cooperative, Mycelia BVBA, KingHerbs Limited, and Changsha Botaniex Inc. among others.

Segment wise Insights

The Mycelium market can be segmented on nature, form, application, and geography. Based on nature, the global Mycelium market can be segmented into organic and conventional. Based on form, the global Mycelium market can be segmented into powder, capsules, tablets, and others.

Based on the application, the global mycelium market can be classified into the animal feed industry, food & beverage industry, and bakery & confectionary. The global Mycelium market can be divided into seven regions: North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.

On the basis of form, the pre-formed segment dominates the market share owing to the increasing popularity in the food industry and packaging. After the performed segment the powder form remains the second highest in market share.

In terms of application, the market is divided into four industries majorly as food and beverage, packaging, and animal feed sector. The high value of nutrition present in the mycelium is increasing the applicability of this product to various applications.

Competitive landscape

The market players in the industry engaged in partnerships to gain a strategic position. The market is consistently growing in terms of players and innovation. The players are identifying key market trends and future patterns related to the application of products.

Some of the players are investing in research and development to gain a dominant share. Mergers and joint ventures often opt for ways for the geographical expansion of business. The rising tendency for natural ingredients and dynamic urbanization is driving major players in the industry.

Segmentation: Mycelium Market

• Based on Nature :

  • Organic
  • Conventional

• Based on Form :

  • Powder
  • Pre-formed
  • Capsules

• Based on Application :

  • Animal feed Industry
  • Food and Beverage industry
  • Others

• Based on Region :

  • North America
    • U.S.
    • Canada
  • Latin America
    • Mexico
    • Brazil
    • Argentina
    • Chile
    • Peru,
    • Rest of Latin America
  • Europe
    • Germany
    • Italy
    • France
    • U.K
    • Spain
    • BENELUX
    • Nordics
    • Eastern Europe
    • Rest of Europe
  • East Asia
    • Japan
    • China
    • South Korea
  • South Asia
    • India
    • Thailand
    • Malaysia
    • Indonesia
    • Philippines
    • Rest of South Asia
  • Oceania
    • Australia
    • New Zealand
  • The Middle East and Africa
    • GCC Countries
    • South Africa
    • Turkey
    • Iran
    • Israel
    • Rest of MEA