Report Overview:
Fungi-based proteins are sustainable alternatives to animal-derived proteins, produced through fermentation of fungal biomass. These mycoproteins contain all essential amino acids, high fiber content, and demonstrate excellent meat-like texture properties. Major product forms include textured proteins, concentrates, and isolates used across food applications.
The market growth is driven by increasing vegan population, environmental concerns over animal farming, and technological advancements in fermentation processes. Europe dominates consumption with 40% market share due to established meat alternative culture. However, Asia-Pacific shows fastest growth potential at 22.1% CAGR (2024-2032) as manufacturers expand production capacities. Recent developments include Quorn's 2023 launch of mycoprotein-based ready meals and Meati Foods' USD 150 million Series C funding for production scale-up.
Market Value:
Global fungi-based protein market size was valued at USD 376 million in 2024. The market is projected to grow from USD 462 million in 2025 to USD 1290 million by 2032, exhibiting a CAGR of 19.8% during the forecast period.
By Applications:
Meat substitutes
Pet food
Animal feed
By Types:
• Instant food • Additive
Key players include:
• Quorn Foods (UK)
• 3F BIO (UK)
• Meati Foods (U.S.)
• MycoTechnology (U.S.)
• Mycorena (Sweden)
• The Better Meat Co. (U.S.)
