Fungal Protein Market to Reach $397.5 Million by 2029

Fungal Protein Market by Type (Fusarium Venenatum Extract Protein, Mushroom Protein, Yeast Extract Protein), Application (Food & Beverages {Beverages, Bakery}, Animal Nutrition {Poultry, Aquafeed}, Pharmaceuticals, Other Applications), and Geography – Global Forecast to 2029

The Fungal Protein Market is expected to reach $397.5 million by 2029, at a CAGR of 7.6% during the forecast period 2023–2029. Moreover, in terms of volume, the global fungal protein market is expected to reach 23,185 tons by 2029, at a CAGR of 6.2% during the forecast period. The growth of this market is expected to be driven by factors such as the rapidly growing demand for allergen-free foods, rising consumption of processed food, and growing demand for meat-substitute products. Moreover, the rising adoption of yeast extract in the processed food industry is expected to offer significant growth opportunities for players in the fungal protein market. However, factors such as undefined regulatory guidelines are expected to hinder market growth to a certain extent.