rapid urbanization and increasing consumer awareness about health and well-being are boosting the mycelium market's overall demand
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Mycelium, comprising the vegetative portion of fungi, is composed of a mass of branches and hyphae, thread-like structures. These fungal colonies are present in soil and various substrates. The growing demand for natural ingredients and flavors in the food industry is expected to drive the demand, leading to overall Europe mycelium market growth. Substantial investments are being made in advanced technology solutions for the rapid production of flavored mycelium, replacing traditional, time-consuming, and labor-intensive fermentation methods. This report comes with 10% free customization, enabling you to add data that meets your specific business needs.
Mycelium, resembling fungi, offers numerous benefits to ecosystems. It can be found in both single-celled and multi-celled organisms such as yeast and mushrooms, playing a vital role in decomposition. It serves as a food source for various herbivorous mammals, forming a significant part of their diet. Moreover, mycelium and its by-products are used in the production of leather for various applications.
The Europe mycelium market (excluding U.K.) is projected to reach $ 1.14 billion by 2028 from $698.8 million in 2022, growing at a CAGR of 9.06% during the forecast period 2023-2028.
What Drives Europe Mycelium Market Growth?
The rapid urbanization and increasing consumer awareness about health and well-being are driving the demand for natural flavors, boosting the europe mycelium market's overall demand. The incorporation of more flavors to enhance food palatability is a major driver of the market. Additionally, the growing preference for organic and natural ingredients and flavors in food products contributes to the market's growth. The need for extended food shelf life is another factor fueling the demand.What Hampers Europe Mycelium Market Growth?
One major obstacle to the europe mycelium market's growth is its limited capacity to support heavy loads when used as a construction material in applications like concrete and wall insulation. Over time, it loses its resistance to water and becomes susceptible to humidity. Moreover, it may not be readily available in sufficient quantities, potentially impacting supply in the forecast period. The decline in strength after prolonged exposure to moisture may limit it's usage in packaging applications.Impact of COVID-19
The impact of the COVID-19 pandemic on the products and their production was relatively minimal, as these products were not extensively commercialized. The rising trend of veganism is expected to positively impact the Europe mycelium market in the post-pandemic period. It is, known for its medicinal properties and low calorie content, is effective as an immunity booster, likely leading to increased consumption and demand for the product.Market Segmentation:
Segmentation 1: by Application
- Food and Beverage Industry
- Packaging Industry
- Textile Industry
- Others
Segmentation 2: by Nature
- Raw
- Processed
Segmentation 3: by Form
- Pre-Formed Product
- Powder
- Liquid Culture
- Tablet and Capsule
Segmentation 4: by Region
- Europe - Italy, Germany, Netherlands, Poland, France, and Rest-of-Europe
- U.K.
Competitive Landscape
Market players in the industry are forming partnerships to secure strategic positions, and the market is continuously evolving with new players and innovations. Companies are identifying key market trends and future patterns in product applications. Some players are investing in research and development to gain a dominant market share, while mergers and joint ventures are chosen paths for expanding businesses geographically. The increasing trend toward natural ingredients and urbanization is driving major players in the industry.How This Report Can Add Value
Product/Innovation Approach: The product section serves to enlighten the reader about the various mycelium products available for use in industries like food and beverage, clothing, packaging, and more, along with their global potential. Furthermore, the study offers an intricate understanding of different mycelium-based products categorized by their application (food and beverage, packaging, textiles, etc.), nature (raw and processed), and form (pre-formed products, powder, liquid culture, tablets, and capsules). Mycelium-based finished products yield significantly higher revenues in comparison to operational and raw material costs, making the mycelium business a low-investment, high-revenue agricultural model.Competitive Approach: The study examines and profiles key players in the Europe mycelium market, encompassing manufacturers of mycelium-based products, whether raw or processed. Furthermore, it includes a thorough competitive evaluation of these players, allowing readers to gain insights into how they compare to one another and providing a clear view of the market landscape. Additionally, the comprehensive competitive strategies, such as partnerships, agreements, and collaborations, will help readers identify unexplored revenue opportunities within the market.
Key Companies Profiled:
- Bosque Foods
- Mushlabs
- Biomyc
- Magical Mushroom Company
- eniferBio
- mogu
- Mycorena
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Table of Contents
1 Markets
2 Europe
3 Markets - Competitive Benchmarking & Company Profiles
4 Research Methodology
List of Figures
List of Tables
Executive Summary
Europe is an attractive region for the mycelium market because of the availability of different market fragments. Import costs for mushrooms are much higher in Europe than in the rest of the world. This opens doors to providers of mycelium in the region.The Europe mycelium market (excluding U.K.) is estimated to reach $ 1.14 billion in 2028, reveals the premium market intelligence study. The study also highlights that the market is set to witness a CAGR of 9.06% during the forecast period 2023-2028.
The Europe Mycelium Market: Driver and Challenges
The driving forces behind the increased public attention toward mycelium in Europe include the growing demand for animal-free products, functional meals, and innovative flavors. Additionally, ethical and sustainable production is gaining importance among European consumers and traders. However, mycelium is one of the most environmentally beneficial and ecological suppliers of completed goods.The major challenges faced by the mycelium market in Europe are the growing number of startups who are operating in pilot stages and causing a lack of mass-producing companies.
USPs of report
- Market ranking analysis based on product portfolio, recent development, and regional spread
- Investment landscape, including product adoption scenario, funding, and patent analysis
- Analysis of business drivers and challenges of the Europe Mycelium Market.
Analyst’s Perspective on Europe Mycelium Market
The Principal Analyst states, 'The mycelium market is expected to be a great replacement of animal-based and non-biodegradable products. Through a better adoption of these eco-friendly mycelium-based products and materials, the consumers' demand for veganism can be met, thereby contributing to the circular economy and a sustainable future.'Key Questions Answered in the Report
- What is the estimated europe mycelium market size in terms of revenue for the forecast period 2023-2028, and what is the expected compound annual growth rate (CAGR) during the forecast period 2023-2028?
- What kinds of new strategies are being adopted by the existing market players to expand their market position in the industry?
- What is the competitive strength of the key players in the europe mycelium market based on an analysis of their recent developments, product offerings, and regional presence?
- How much revenue is each segment expected to record during the forecast period, along with the growth percentage?
Companies Mentioned
- Bosque Foods
- Mushlabs
- Biomyc
- Magical Mushroom Company
- eniferBio
- mogu
- Mycorena
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 109 |
Published | November 2023 |
Forecast Period | 2023 - 2028 |
Estimated Market Value ( USD | $ 740.3 Million |
Forecasted Market Value ( USD | $ 1142 Million |
Compound Annual Growth Rate | 9.0% |
Regions Covered | Europe |
No. of Companies Mentioned | 7 |