Fungal Protein Market Size By Product (Yeast [Baker's Yeast, Brewer's Yeast], By Application [Food & Beverage (Processed Food, Beverages, Bakery, Dairy), Animal Nutrition (Poultry, Swine, Aquaculture, Pet Food, Equine), Pharmaceutical]), Fusarium Venenatu

Fungal Protein Market Size By Product (Yeast [Baker's Yeast, Brewer's Yeast], By Application [Food & Beverage (Processed Food, Beverages, Bakery, Dairy), Animal Nutrition (Poultry, Swine, Aquaculture, Pet Food, Equine), Pharmaceutical]), Fusarium Venenatum (By Application [Meat Alternative, Breakfast & Cereals, Fat Substitute]), COVID-19 Impact Analysis, Regional Outlook, Application Development, Price Trends, Competitive Market Share & Forecast, 2023 - 2032


Fungal Protein Market is expected to register massive growth through 2032, owing to the rising cosmeceuticals industry, especially in Latin America. Mexico, Colombia, Chile, and Brazil are among Latin America's most dynamic and robust beauty markets. Besides, consumers in this region are willing to pay a considerable amount for skin and hair care products that offer high performance, which will further boost market expansion in the future.

In addition, the growing demand for health supplements on account of the rising health ailments, especially in the MEA region, will significantly influence the fungal protein market growth in the coming years. As per credible reports, more than 60% of Emiratis are overweight, and almost 24% of men and 40% of women aged above 15 are obese. Hence, changing lifestyle habits and lack of education regarding weight management are some critical factors that are slated to propel the demand for health supplements, thereby positively impacting the fungal protein industry growth in the coming years.

The key market players and product providers are investing in R&D, establishing new plants, undertaking mergers, acquisitions, and partnerships, and unveiling new products to bolster their presence in the industry. Citing an instance, in June 2022, Lesaffre, a key global player in fermentation, announced its plans of opening a new yeast plant in Brazil to strengthen its presence across the region.

In yet another instance, in September 2022, Angel Yeast developed dry yeast product, Premium Dry Yeast, to address diverse baking challenges in the current times. The innovative yeast complies with the latest requirements of baking industry for overall adaptability, convenience, and stability.

Overall, the fungal protein market is segmented in terms of product and region.

Considering the product, the fusarium venenatum segment is expected to demonstrate considerable growth through 2023-2032. Fusarium venenatum is used to extract mycoproteins, which is largely used as meat alternatives for burgers and patties. In addition, mycoprotein is a rich source of fiber and contains more fiber than almonds, black beans, chickpeas, and peanuts. It is also a high source of zinc, selenium, phosphorous, manganese, copper, and chromium and a source of riboflavin, which is expected to bolster its demand in the ensuing years.

Regionally, the Asia Pacific fungal protein market is slated to depict over 6% CAGR through 2032. The growth can be attributed to the growing use of yeast in animal feeds, which helps strengthen the animal gut health. Besides, the rising prevalence of bird and swine flu is slated to spur the demand for good quality animal nutrition products, thus driving regional growth throughout the estimated timeframe.