Fungal Protein Market Size, Share, Growth Analysis, By Type(Yeast, Fusarium Venenatum), By Application(Food & Beverages, Animal Nutrition, Pharmaceuticals, other), By Nature(Organic, Conventional), By Region - Industry Forecast 2024-2031

Global Fungal Protein Market size was valued at USD 353.06 million in 2019 and is poised to grow from USD 386.6 million in 2023 to USD 874.96 million by 2031, growing at a CAGR of 9.5% in the forecast period (2024-2031).

A protein obtained from a sustainable food supply based on fungi is known as fungal protein. It includes extract proteins made from yeast and proteins made from Fusarium venenatum. It has many qualities, including being a great choice for use in both human food and beverages as well as animal feed applications because it is high in proteins, vitamins, folic acid, and minerals. Food items are changing, being processed, and getting ready for immediate ingestion. Prepared and ready-to-eat foods, soft drinks, and westernised fast food have supplanted regional specialties and distinctive cultural eating habits in emerging economies. Increased intake of calories, sugar, fats, and animal products is a result of the westernisation of eating habits. Additionally, this trend has also resulted in a decrease in the consumption of pulses, potatoes, and grains. Since their introduction in the 1990s, ready-to-eat foods have become a considerable portion of the food budget.

The rules governing fungal-based protein products cover a variety of components utilised in the manufacturing process, food safety labelling & packaging, health claims, and other issues. For instance, food products sold in different supermarkets, retail stores, and bakeries must have labels with information such as nutrition facts, ingredients used, common name of the products, name & address of manufacturers, and others, in accordance with Food and Drug Administration (FDA) regulations on menu labelling. Therefore, it is anticipated that these laws surrounding different substances and the quality of materials utilised in goods may impede the market expansion for fungal protein.

US Fungal Protein Market is poised to grow at a sustainable CAGR for the next forecast year.