Aug 18, 2023

Dublin, IRELAND Dublin, Aug. 18, 2023 (GLOBE NEWSWIRE) -- The "Mycoprotein - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering. This comprehensive report provides an in-depth analysis of the global Mycoprotein market, focusing on past, current, and future trends across various regions. The study covers the USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East, and Africa, evaluating annual sales in US$ Thousand and calculating the Compound Annual Growth Rate (CAGR) for 2022 to 2030. It also includes a historic review of the market for the years 2014 to 2021 and compares it with present and future projections. The report delves into the Mycoprotein market's segmentation by application, specifically in the Food & Beverage sector, including dietary supplements and other applications. Additionally, the study explores consumer preferences, emerging opportunities, and challenges within the industry. Key players are profiled, and market strategies are outlined. The report concludes with forecasts, predictions, and insights to help stakeholders and decision-makers. Market Outlook The Mycoprotein market is projected to grow at a CAGR of 6.4% from 2022 to 2030, reaching a value of US$1.1 Billion. The post-COVID business landscape has influenced market dynamics, with Food & Beverage recording a 6.2% CAGR, reaching US$523.4 Million. The Dietary Supplements segment is expected to grow at a revised 7.3% CAGR during the next 8-year period. Regional Analysis The U.S. Market: Estimated at US$174.8 Million in 2022, the U.S. Mycoprotein market remains significant. Companies are adapting strategies to meet changing consumer demands. China: Forecasted to grow at a CAGR of 10.4% from 2022 to 2030, China's Mycoprotein market is set to reach a projected size of US$238.6 Million, driven by its strong economic growth and increasing consumer spending. Japan and Canada: Japan's market is expected to grow at a CAGR of 2.8%, while Canada's market is projected to grow at 5.5% during 2022-2030. These regions are witnessing steady growth in Mycoprotein demand. Europe (Germany): Germany's Mycoprotein market is forecasted to grow at approximately 3.3% CAGR, indicating a positive outlook for the region. Select Competitors The report features 162 key players in the Mycoprotein market, including 3F Bio Ltd, General Mills, Marlow Foods Ltd, MycoTechnology, Inc., Temasek Holdings, and Tyson Ventures. Looking Ahead to 2023 The global economy is facing multiple challenges, including the Russia-Ukraine conflict, inflation concerns, supply chain disruptions, and geopolitical uncertainties. The year 2023 is expected to be tough for most markets, investors, and consumers. However, businesses with resilience and adaptability can find opportunities amid these complexities. Conclusion The Mycoprotein market is witnessing steady growth, driven by changing consumer preferences and technological advancements. Companies are strategizing to expand into niche segments and optimize profitability. Digital transformation is key to catering to evolving customer demands. Despite the challenges in the global economy, businesses that demonstrate adaptability and foresight can navigate through uncertainty and capitalize on emerging opportunities in the Mycoprotein market. Key Attributes