Filamentous fungi generate microscopically interconnected tubular cells, eventually yielding a vast macroscopic network of biomass called mycelium. Mycelium offers several benefits to the whole ecosystem and plays an essential role in decomposition. Mycelium materials can be used to produce leather and for sustainable, eco-friendly packaging.
Multiple factors such as the surging demand for natural ingredients and flavours for food, increasing government investments for developing eco-friendly products, advancements in technologies are estimated to propel the growth of the mycelium market in the upcoming years. The market is further driven by growing focus towards creating sustainable products and packaging solutions, and the rising consumer awareness regarding health and well-being. Industries like food & beverage, packaging, plastic and clothes have shown great interest in generating eco-friendly and sustainable products using mycelium. These efforts by industries are likely to surge the market opportunities over the forecast period. However, the lack of infrastructure facilities available for processing mycelium materials may hinder the market growth over the forecast years.
The mycelium market is segmented into application, nature, form, and region. The market is categorized into food and beverage industry, packaging industry, clothing and apparel industry, animal feed industry, and others by application. The nature segment is divided into raw and processed. By form, the market is classified into pre-formed product, powder, and tablet and capsule. Regionally, the market is studied across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
North America accounted for the highest share of the mycelium market in 2021, followed by Europe and the Asia Pacific, owing to the surging R&D investments to develop mycelium products and packaging solutions, health-conscious consumers, and the high demand for natural, eco-friendly products.
Some of the players operating in the mycelium market are Atlast, Chinova Bioworks, ENOUGH, Four Sigmatic, Forij.co., FreshCap Mushrooms LTD, Grown.bio, Mushlabs GmbH, Mycelia NV, Meati Inc., Monaghan Group, MycoTechnology, Inc., Mycotech Lab, MycoWorks, Ecovative LLC, eniferBio, Groundwork BioAg, MOGU, Mycorena, Norwegian Mycelium, Mycovation, Magical Mushroom Company, Mushroom Material, Nature's Fynd, PRIME ROOTS, Quorn, Biomyc, Mushroom Material, Bolt Threads, Paradise Packaging Co.Scelta Mushrooms, Changsha Botaniex Inc., Ecovative, KingHerbs Limited, Gurelan Cooperative, Innomy Labs, Life Cykel, Michroma, MUD/WTR, Mycovation among others.
Global Mycelium Market, by Nature, 2022-2030 (Value US$ Mn)
