Mycelium Market Size Worth $ 5,979.36 Million By 2032 | CAGR: 7.6%

The global Mycelium market size is expected to reach USD 5,979.36 million by 2032, according to a new study by Polaris Market Research. The report “Mycelium Market Share, Size, Trends, Industry Analysis Report, By Nature (Raw, Processed); By Form; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global mycelium market is experiencing growth due to the increasing significance given to the unique flavor of processed foods and beverages. Additionally, the trend towards using organic and natural ingredients and flavors in food products is expected to further boost the demand for mycelium in the near future.

Mycelium provides a plant-based alternative to animal-derived dietary products. In addition, the industry of plastic & styrofoam packaging is somewhat to significantly impacted by the introduction of mycelium-based packaging. Organizations such as IKEA have started using packaging made from mycelium due to its durability and ability to prevent leaks. This has led to an increase in the popularity of mycelium-based packaging in the many industries.

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The mycelium-based product landscape mainly exists in either the research and development stage or as prototypes. Start-ups and research centres are exploring mycelium's potential benefits with the aim of creating market-ready products. However, despite being in the spotlight across various industries for some time, the global mycelium market encounters hurdles when it comes to commercialization.

One significant challenge lies in the prevailing consumer reliance on plastics and Styrofoam for packaging solutions. Breaking this habit and garnering public acceptance for mycelium-based packaging can be a formidable task for manufacturers. Consequently, selecting the right target audience and market segment presents a challenge. The mycelium market remains relatively new, offering a limited range of mycelium-based products compared to conventional alternatives. To attract a broader customer base, it's imperative to expand the variety and functionality of these products.

Mycelium Market Report Highlights

• In 2023, processed mycelium claimed a significant revenue share. It involves treating raw mycelium through techniques like drying, heat, chemicals, and molding to attain desired characteristics and forms.
• In 2023, pre-formed mycelium dominated the market share, driven by demand for sustainable alternatives in packaging, construction, and consumer goods. Versatile and eco-friendly, mycelium products cater to diverse applications.
• In 2023, Europe led the global market in mycelium adoption, driven by eco-conscious innovation in packaging, textiles, and meat substitutes, aligning with environmental sustainability goals.
• The global key market players include Mycelia NV, LifeCykel, Mushlabs, Meati Inc., Monaghan Group, Scelta Mushroom, Biomyc Ltd, Chinova Bioworks Inc, Ecovative LLC, Grown bio, Groundwork BioAg, MycoTechnology, MycoWorks, Magical Mushroom Company, Mushroom Material, Norwegian Mycelium AS, and Mycotech Lab

Polaris Market Research has segmented the Mycelium market report based on nature, form, application, and region:

Mycelium, Nature Outlook (Revenue - USD Million, 2019 - 2032)

• Raw
• Processed

Mycelium, Form Outlook (Revenue - USD Million, 2019 - 2032)

• Pre-Foamed
• Powder
• Capsules
• Others

Mycelium, Application Outlook (Revenue - USD Million, 2019 - 2032)

• Food and Beverage
• Packaging
• Clothing and Apparel
• Animal Feed
• Others

Mycelium, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Mycelium Market Report Scope