The global fungal protein market size was valued at $156.6million in 2020, and is expected to garner $386.6million by 2030, registering a CAGR of 9.5% from 2021 to 2030.In 2020, the yeastsegment accounted for more than half of the total fungal protein market share.
Fungal protein is a protein derived from fungi-based sustainable food source. It comprises yeast-based extract protein and fusarium venenatum based proteins. It has numerous attributes such as it is rich in proteins, vitamins, folic acid, and minerals that makes it an ideal choice for use in both human food & beverages as well as animal feed applications.
Food products are being transformed, processed, and prepared for ready consumption. In the emerging countries, prepared and ready-to-eat products, soft drinks, and westernized fast foods have replaced unique traditional food habits and ethnic cuisines. Westernization of food consumption patterns have resulted in increased intake of calorie, sugar, fats, and animal products. In addition, this trends has simultaneously led to decline in the intake of cereals, potatoes, and pulses. Ready-to-eat products were introduced in the 1990s, and in the present scenario, represent a significant share of food expenditure. All these aforementioned factors are responsible for the increasein the fungal protein market size in the coming years.
The regulations associated with fungal-based protein products are related to various ingredients used in the process, food hygiene labeling & packaging, health claims, and others. For instance, according to the Food and Drug Administration (FDA) regulations on menu labeling, the labels must have information, such as nutrition facts, ingredients used, common name of the products, name & address of manufacturers, and others, for food products that are sold in various supermarkets, retail stores, and bakeries. Therefore, these regulations regarding various ingredients and quality of ingredients used in the products are expected to hamper the growth of fungal protein market.
On the contrary, increase in willingness of consumers to buy premium and environment friendly products is expected to provide opportunities for the fungal protein market growth in the coming years.
The corona virus outbreak all over the globe has created medical emergency. Due to which, there is an increase in the demand for food items, hygiene products, and medical products in the market. COVID-19 has increased the sales of traditional, health, and staple food items. However, packaged food, bakery products, and meat products have experienced a decline in its sale due to which the demand for yeast extract in these industries also decreased to a significant level. Moreover, yeast is also used in cosmetics and personal care industries. The demand for the products of these industries has also decreased, which declines the growth of the yeast extract market. In addition, the lockdown scenario in various countries hampers the production and supply chain of the yeast extract companies.
Strong global concerns about the pandemic have largely but negatively influenced the global fungal protein market. Moreover, due to the high demand and low supply trends, the prices of snacks products increased in 2020 to overcome on economic instability. On the contrary, disruptions to the supply chain in shipping could lead to temporary shortages in the supply, putting upward pressure on prices in the short term.
According to the fungal protein market analysis, the market is segmented into type, nature, application, and region. Based on type, the market is segmented into yeast and Fusarium Venenatum. Based on nature, the market is segmented into organic and conventional. Food and beverages, animal nutrition, pharmaceuticals, and others are the application of the fungal protein market. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia, Srilanka, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, United Arab Emirates, Nigeria, Turkey, South Africa, and rest of LAMEA).
On the basis of type, the yeast snacks segment accounted for the maximum share in the global fungal protein market in 2020, and is expected to remain dominantduringthe fungal protein market forecast period.The yeast extract refers to a variety of processed yeast products generated by extracting the cell contents, which are utilized as food additives, flavorings, and nutrients for bacterial growth media. They can be found in a wide range of packaged foods, including frozen dinners, crackers, junk food, gravy, stock, and more, and are widely applied to generate savory flavors and umami taste sensations. In liquid form, yeast extracts can be dried to a light paste or a dry powder. Furthermore, its taste properties make it a popular addition to soups, sauces, and ready-to-eat meals, as well as snacks and meat dishes.
By Type
The Fusarium Venenatum segment would witness the fastest growth, registering a CAGR of 10.7% during the forecast period.
On the basis of nature, the conventional segment accounted for the maximum share in the global fungal proteinin 2020. The popularity of conventional segment has increased in the last few years, owing to improvement in standard of living and the know-how about the benefits of fungal protein products.
By Nature
Organic Segment witnssed a major growth rate of 10.0%
On the basis of application, the food and beverages segment held thesignificant marketshare in 2020.Increase in demand for fungal protein in the food & beverages industry is a key factor that drives the market growth. Furthermore, rise in consumer demand for healthy products in the developed nations is expected to boost the growth of fungal protein market.
By Application
Food and Beverages held the major share of 38.5% in 2020
On the basis of region, Europedominated the fungal protein market in 2020, and accountedfor the maximum share in fungal protein.The retail channels are developed and widespread throughout Europe. Germany is the largest fungal protein market in the region.
By Region
Eurpoe held the major share of 36.9% in 2020
Players in the fungal protein market have adopted business expansionand product launchas their key developmentalstrategiesto expand their market share, increase profitability, and remain competitive in the market. The key players profiled in thereport includeCayman Chemical Company, Chihon Biotechnology Co., Ltd., Duke Thomson's India Pvt. Ltd, DuPont de Nemours, Inc., Galactic, Mayasan Biotech, Merck Group, Royal DSM, Santa Cruz Biotechnology, Inc, and Siveele B.V.
Key benefits for stakeholders
- The report provides quantitative analysis of the current fungal protein market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing fungal protein market Opportunity.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size &segmentation assist to determinethe market potential.
- The major countries in each region are mapped according to their revenue contribution to the fungal protein market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the fungal protein industry.
Key market segments
By type
- Yeast
- Fusarium Venenatum
Nature
- Organic
- Conventional
By Application
- Food and beverages
- Processed Food
- Beverage
- Bakery
- Dairy
- Others
- Animal Nutrition
- Pharmaceuticals
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- Australia
- South Korea
- Indonesia
- Srilanka
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Turkey
- Nigeria
- South Africa
- Rest of LAMEA
Fungal Protein Market Report Highlights
| Aspects | Details |
 By TYPE |
|
 By NATURE |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | Lallemand, Inc., Specialty Biotech Co.,Ltd., Kerry Group, Biospringer, Royal DSM, Halcyon Proteins, Alltech, AB Mauri, Angel Yeast, Sensient Technologies Corporation |
Analyst Review
Based on the interviews of various top-level CXOs of leading companiesthe global fungal protein market presents substantial growth prospects during the forecast period. Currently, the market is in its growth stage; however, it is projected to grow significantly over the next few years. Change in eating patterns, rise in consumption of processed food, and increase in disposable income of developing countries drive the market for fungal protein globally.
The Fungal Protein market size from 2021 to 2030 is $213 Million.
The CAGR of the Fungal Protein Market is 9.5%.
Sample report can be availed by contacting the sales team.
2020 is the base year calculated for the Fungal Protein Market.
Type, Nature, and Application are the segments of the market.
Cayman Chemical Company, Chihon Biotechnology Co., Ltd., Duke Thomson's India Pvt. Ltd, DuPont de Nemours, Inc., Galactic, Mayasan Biotech, Merck Group, Royal DSM, Santa Cruz Biotechnology, Inc, and Siveele B.V. are the top companies profiled in the report.
increase in willingness of consumers to buy premium and environment friendly products are the upcoming trends in the fungal protein industry.
Europe dominated the market in 2020, and accounted for the maximum share in fungal protein in the coming years.
The demand for the fungal protein products has also decreased, which declines the growth of the yeast extract market. In addition, the lockdown scenario in various countries hampers the production and supply chain of the yeast extract companies.
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