According to a recent Fact.MR report, the global mycoprotein products market is on a meteoric rise, with global sales expected to nearly double by 2027 over 2023, and to exceed US$ 500 million by the end of 2027.
Because of its cholesterol advantages, satiety benefits, and nutritional content, mycoprotein is a high protein vegetable component that is primarily employed as a meat substitute in a wide range of food and beverage applications. The global market for mycoprotein products is expected to rise rapidly due to rising demand for high-quality protein diets and the growing vegan trend.
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The rising prevalence of diseases raises consumer health and fitness consciousness, which is expected to drive the mycoprotein products market. Furthermore, the rapid expansion of the food service sectors, as well as the enticing marketing and promotion tactics of vegetarian enterprises, have had a favorable influence on global economic growth.
Competitive Landscape:
Consumer awareness and interest in alternative protein sources, such as mycoprotein products, is growing in wealthy countries. Meat has long been the dominant source of protein in industrialized countries, and traditional protein consumption has increased in emerging nations in recent years.
Plant-based food alternatives, the most major source of alternative protein, gained 17% in 2018, and the usage of alternative protein as a food ingredient in consumer products, such as mycoprotein products, is likely to develop further.
Mycoproteins are widely found in “Quorn,” a brand of meat replacements that encompasses a wide range of goods from maize chicken nuggets to burgers and sausages.
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Look for Alternative Protein Sources to Help Market Growth
Consumer awareness and interest in alternative protein sources, such as mycoprotein products, is growing in wealthy countries. Meat has long been the dominant source of protein in industrialized countries, and traditional protein consumption has increased in emerging nations in recent years.
Plant-based food alternatives, the most major source of alternative protein, gained 17% in 2018, and the usage of alternative protein as a food ingredient in consumer products, such as mycoprotein products, is likely to develop further.
Regional Analysis:
Because of the heightened presence of key manufacturers and the elevated manufacturing footprint of mycoprotein products in these locations, Europe now dominates the global market for mycoprotein products, followed by North America.Because of the expanding usage of mycoprotein products in food and beverage applications such as meat substitutes and meat extenders, East Asia and South Asia are expected to have the biggest demand for mycoprotein products in the future years.
Key Segments of Industry:
- Form
- Minced
- Slices
- Sales Channel
- Supermarkets / Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
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