The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
What Is The Estimated Market Size Of The Global Fungal Protein Market And Its Annual Growth Rate?
The fungal protein market is projected to continue its strong growth, reaching $5.33 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to increasing consumer awareness, expanding vegan, expanding applications in various industries, global population growth, investments in alternative proteins.
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Growth Driver Of The Fungal Protein Market
The rising consumption of processed foods is significantly contributing to the growth of the fungal protein market going forward. Processed food refers to a food item that has gone through several mechanical or chemical processes in order to change or preserve it. Fungal protein is used as a substitute for meat and other forms of protein in processed foods due to it being significantly less polluting and sustainable than protein from livestock.
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Which Market Players Are Steering The Fungal Protein Market Growth?
Key players in the market include Cayman Chemical Company, Chiron Biotechnology Co. Ltd., Duke Thomson's India Pvt. Ltd., DuPont de Nemours Inc., Merck Group, Royal DSM, Santa Cruz Biotechnology Inc., Siveele B.V., Halcyon Proteins Pty. Ltd., Kerry Group Plc., Lallemand Inc., Lesaffre Group, AngelYeast Co. Ltd., Associated British Foods Plc., Koninklijke DSM N.V., MycoTechnology Inc., Meati Foods, Quorn Foods, White Dog Labs, 3F BIO Ltd., Nature's Fynd, Sustainable Bioproducts, Perfect Day, Solar Foods, Geltor Inc., BlueNalu, Clara Foods, Terravia Holdings Inc. (formerly Solazyme), Entomo Farms, New Wave Foods.
What Are The Key Trends That Influence Fungal Protein Market Share And Analysis?
Major companies operating in the market are adopting a strategic partnership approach, aiming to help expedite hybrid product go-to-market strategies. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success.
How Is The Global Fungal Protein Market Segmented?
1) By Type: Fusarium Venenatum Extract, Mushrooms, Yeast Extract
2) By Nature: Organic, Conventional
3) By Application: Food and Beverages, Bakery, Processed Food, Dairy, Other Applications
Geographical Insights: Europe Leading The Fungal Protein Market
Europe was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Fungal Protein Market Definition
Fungal protein refers to the food-grade protein ingredient made from a type of fungus for human consumption. Fungal protein is used to substitute traditional protein sources such as meat in the food industry.
Fungal Protein Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global fungal protein market report covering trends, opportunities, strategies, and more
The Fungal Protein Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on fungal protein market size, fungal protein market drivers and trends, fungal protein market major players and fungal protein market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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