Global Mycelium Market Size Envisaged to Reach USD 5.86 Billion by 2032, With 7.4% CAGR Growth: Polaris Market Research

NEW YORK, Feb. 23, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Mycelium Market Share, Size, Trends, Industry Analysis Report, By Nature (Organic, Conventional); By Form; By Application; By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

According to the research report, the global mycelium market size & share was valued at USD 2.88 billion in 2022 and is expected to reach USD 5.86 Billion By 2032, growing at a CAGR of 7.4% during the forecast period.

What is Mycelium? How Big is Mycelium Market Size & Share?

• Report Overview

The mycelium is part of a mushroom that is very similar to the root system of any plant. It is a rich network of thin filaments called hyphae that collect food, water, and nutrients to nourish the fungus. The rapidly rising demand for mycelium market can be attributed to the fact that it can maximize the production of fungi to reduce waste generation. It can be used to encourage the treatment and conversion of waste into a useful form.

Increased research and development efforts are ongoing to develop mycelium-based goods, predicted to grow in popularity as consumers adjust their preferences toward plant-based meat and veganism. One of the greatest opportunities in the market is to increase mycelium R&D investments. Furthermore, the features of mycelium allow it to be tailored for numerous uses resulting in the adoption of mycelium-based goods in the medical, construction, electrical, and skincare product industries by consumers.

Request Sample Copy of Mycelium Market Research Report @ https://www.polarismarketresearch.com/industry-analysis/mycelium-market/request-for-sample

(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Key data covered in the market report

• To get a detailed analysis of the prospects of the market.
• To get a market overview and future trends in the industry.
• To analyze the market drivers and challenges.
• To obtain information on the market value forecast.
• Significant investments, mergers, and acquisitions in the market.

Some of the Top Market Players Are:

• Biomyc Limited
• Bolt Threads Corporation
• Chinova Bioworks Ltd
• Changsha Botaniex Inc.
• Ecovative LLC
• Four Sigmatic Cop.
• Forij.co.
• FreshCap Mushrooms LTD
• Grown.bio Limited
• Groundwork BioAg Corporation
• Guerlain Cooperative
• Innomy Labs
• KingHerbs Limited
• Life Cykel
• Mushlabs GmbH
• Mycelia NV Inc.
• Meati Inc.
• Monaghan Group
• MycoTechnology Inc.
• Mycotech Lab
• MycoWorks MOGU
• Magical Mushroom Company
• Mushroom Material
• Norwegian Mycelium
• Nature's Fynd PRIME ROOTS
• Paradise Packaging Co.
• Scelta Mushrooms

To know an additional revised list of top market players, request to download a PDF brochure, 2023-2032: https://www.polarismarketresearch.com/industry-analysis/mycelium-market/request-for-sample

Key factors driving market growth

• An alternative to labor-intensive ways to push the market

In the food business, there is a growing need for natural and organic ingredients and flavors, which is anticipated to lead to an increase in the desire for mycelium. The mycelium market size is expanding instead of fermenting using conventional, time-consuming, and labor-intensive ways; massive investments are being made in appealing technological solutions for the rapid creation of flavored mycelium.

Demand for natural tastes such as mycelium is increasing as a result of expanding urbanization and rising health and wellness consciousness among consumers. Mycelium market sales are soaring with adding additional flavors to food to make them more appetizing. Also, the demand is rising because of the distinctive flavor of processed foods and beverages.

Request for a Discount on this Report Before Purchase @ https://www.polarismarketresearch.com/industry-analysis/mycelium-market/request-for-discount-pricing

Recent trends influencing the market

The shift towards eco-friendly products to drive the market

• With an increased worldwide focus on achieving net zero emissions, the shift to eco-friendly, sustainable products bring significant sales and financing opportunities. The shift is more prominent in the food and beverage industry in regions such as North America and Europe. It can be a great alternative to conventional animal-based food products.
• Mycelium based packaging has a moderate to high impact on the plastic and Styrofoam packaging industry. Companies such as Dell and IKEA have already started using mycelium-based packaging materials due to their strength and leakproof properties. Therefore, the customizable properties of mycelium present it as a go-to option for industries globally.

Segmentation assessment

• The pre-formed segment is expected to hold a significant revenue share

Based on form, a pre-formed segment is expected to hold a significant revenue share. Mycelium market demand is on the rise due to its wider usage in food and drink, clothing and packaging. This is a result of the rising demand for goods such as food and drink, apparel and accessorize, and packaging among other things which are products derived from preformed products.

• The food and beverage segment is expected to witness the fastest growth

Based on application, the food and beverage segment is expected to witness the fastest growth. Mycelium market trends include it being a nutritious alternative that can alter several food items. Customers are choosing to buy healthier drinks and food items that contain nutrients that can be extracted from pure and natural sources.

Mycelium Market: Report Scope

Geographic Overview

• Consumer's increased concern for their health propelled the North American market

North America held the largest mycelium market share due to the rising demand for products made from natural sources and the growth of the food and beverage industry. The demand is also rising as a result of consumers' increased concern for their health. Clean labeling and its benefits are receiving much attention in the North American market, which supports the development of naturally occurring food flavors such as mycelium.

Europe dominates the global market share. At a time when achieving net zero emissions is of utmost importance, the shift to environmentally friendly and sustainable products offers significant prospects for sales and financing. The food and beverage industry in Europe is where the transition is most obvious.

Browse the Detail Report "Mycelium Market Share, Size, Trends, Industry Analysis Report, By Nature (Organic, Conventional); By Form; By Application; By Region; Segment Forecast, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/mycelium-market 

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

By Nature Outlook

• Organic
• Conventional

By Form Outlook

• Pre-formed
• Powder
• Capsules

By Application Outlook

• Animal Feed Industry
• Food & Beverage Industry

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

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SOURCE Polaris Market Research