Overview and Scope
Mycelium is the vegetative stage and type of fungus that forms a network of thread-like structures called hyphae. It plays a crucial role in decomposing organic matter and ecosystem nutrient cycling.
Sizing and Forecast
The mycelium market size has grown strongly in recent years. It will grow from $2.86 billion in 2023 to $3.13 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to market acceptance and awareness, regulatory environment, research and development (r&d) advances, collaborations and partnerships, competitive landscape.
The mycelium market size is expected to see strong growth in the next few years. It will grow to $4.29 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to market expansion and global reach, regulatory developments, innovation in product applications, scaling production capacities, consumer education and awareness. Major trends in the forecast period include biodegradable packaging, construction materials, textile industry disruption, alternative protein source, medicinal applications.
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Segmentation & Regional Insights
The mycelium market covered in this report is segmented –
1) By Product Type: Pre-Formed Product, Powder, Capsules, Tablets, Other Product Types
2) By Nature: Raw, Processed
3) By Application: Food And Beverage, Packaging, Clothing And Apparel, Animal Feed, Other Applications
North America was the largest region in the mycelium market in 2023. The regions covered in the mycelium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand from end users such as the food industry is expected to propel the growth of the mycelium market going forward. The food industry refers to all businesses that handle the processing, packaging, and distribution of uncooked food. Mycelium is used in various food products as it can produce natural flavors, and consumers increasingly seek natural and sustainable alternatives to synthetic flavors. For instance, in 2021, according to the Food & Drink Federation, a UK-based organization that represents and advises UK food and drink manufacturers, Scotland registered 1,185 companies that manufacture food and beverages. Additionally, in the same year, food and beverages turnover accounts for $12.5 billion (£10.3 billion), which is 33% of total Scottish manufacturing. Therefore, the increasing demand from end users such as the food and beverage industry is driving the growth of the mycelium market.
Key Industry Players
Major companies operating in the mycelium market report are Four Sigmatic, FreshCap Mushrooms, Ecovative LLC, Mushlabs GmbH, Mycelia NV, MycoWorks, MycoTechnology Inc., Mycotech Lab, Groundwork BioAg Ltd., Magical Mushroom Company, Mushroom Material Limited, Botaniex Inc., Norwegian Mycelium AS, Scelta Mushrooms BV, GROWN bio, MOGU, Nature’s Fynd, Prime Roots, Atlast Food Co., Mycorena, Mycovation, EniferBio, Life Cykel, KingHerbs Limited, Gurelan Cooperative, Innomy Labs, Mycelium Solutions, Mycelium Made, Mycelium Emporium, Mycelium Biofabrication
The mycelium market report table of contents includes:
1. Executive Summary
2. Mycelium Market Characteristics
3. Mycelium Market Trends And Strategies
4. Mycelium Market – Macro Economic Scenario
5. Global Mycelium Market Size and Growth
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31. Global Mycelium Market Competitive Benchmarking
32. Global Mycelium Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Mycelium Market
34. Mycelium Market Future Outlook and Potential Analysis
35. Appendix
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