Mycoprotein is a meat alternative protein source for humans. It is a type of single-cell protein derived from fungi for human consumption and animal feed. It is made by adding oxygen, nitrogen, glucose, and minerals to a fungus called fusarium venenatum. Mycoprotein has high protein and is a good source of dietary fiber, which promotes weight loss. The hunt for nutritious and convenient food items by health-conscious vegetarian consumers led to the evolvement of mycoprotein meat substitute.
Increase in disposable income and health consciousness among consumers in the developing countries, due to rise in the number of health problems such as obesity and chronic diseases leads to an increase in adoption for vegetarianism and prevalence of healthy meat substitutes. This shift is behavioral and consumption pattern of consumers is expected to drive the market for mycoprotein meat substitute market. In addition, with the rise in awareness and concern among consumers regarding environmental sustainability and animal welfare, a large meat-eating consumer population has shifted the focus toward plant-based diet for procure the necessary nutrition. This switch in preference among consumers across several regions around the globe has positively impacted the demand for mycoprotein meat substitute market. However, many consumers are unaware of mycoprotein. This led to increase in prevalence of mycoprotein allergy among the consumers, which hampers the market growth.
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The combination of shifting dietary habits among youngsters toward a flexitarian diet, lower carbon, and water footprints and the potential to refine mycoprotein production can be viewed as an opportunity by manufacturers to further expand the market.
The market is segmented based on end use and region. Based on end use, it is classified into human consumption and animal feed. Based on region, it is studied across North America, Europe, Asia-Pacific and LAMEA.
The key players include Marlow Foods Ltd., YUTONG INDUSTRIAL CO. LIMITED, SHOUGUANG FTL BIO. CO., LTD., and 3fbio Ltd.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the mycoprotein meat substitute market to elucidate the prevailing opportunities and tap the investment pockets.
- It offers qualitative trends as well as quantitative analysis of the global market from 2018 to 2025 to assist stakeholders to understand the market scenario.
- In-depth analysis of the key segments demonstrates the end use of mycoprotein meat substitute.
- Competitive intelligence of the industry highlights the business practices followed by key players across geographies as well as the prevailing market opportunities.
- Key market players are profiled to understand the competitive outlook of the market.
MYCOPROTEIN MEAT SUBSTITUTE MARKET SEGMENTATION
By End Use
- Human Consumption
- Animal Feed
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
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