Fungal Protein Market to Reach $397.5 Million by 2029

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

In terms of value, the global fungal protein market is projected to reach $397.5 million by 2029, at a CAGR of 7.6% from 2023 to 2029. Moreover, this market is projected to reach 23,185 tons by 2029, at a CAGR of 6.2% during the forecast period 2023–2029.The popularity of fungal protein is on the rise as it is rich in proteins, vitamins, folic acid, and minerals, making it an ideal choice for use in both human food & beverages, animal feed, and pharmaceutical applications.

The growth of the fungal protein market is primarily driven by the growing demand for allergen-free foods, the rising consumption of processed foods, and the increasing demand for meat substitutes. Additionally, the rising adoption of yeast extract in the processed foods industry and emerging economies in Asia-Pacific and the Middle East are expected to provide significant market growth opportunities. However, undefined regulatory guidelines are expected to restrain the growth of this market.