According to Triton's research report, the Asia-Pacific mycelium market is estimated to advance at a CAGR of 8.03% from 2023 to 2030. The report evaluated countries such as China, Japan, India, South Korea, Australia & New Zealand, ASEAN countries, and the Rest of Asia-Pacific.
Japan stands as a prominent producer of mushrooms, owing to the widespread incorporation of mushrooms and mycelium in food. Furthermore, it ranks among the top five nations globally for exporting fresh and dried mushrooms, along with mycelium, to regions such as Europe. Shiitake mushrooms, the most cultivated variety in Japan, have gained recognition for their high-quality fibers and exceptional flavor, making their mycelium a sought-after raw material worldwide.
Further, given Japan's leading role in mushroom production, other nations have also started utilizing Japanese mushrooms for the production of mycelium-based products, including packaging materials and alternative leather.
Over the past few decades, mushroom cultivation in South Korea has experienced significant growth. Mushrooms hold a prominent place in the South Korean diet. Given the substantial per capita consumption of mushrooms in South Korea, it is anticipated that the mycelium market within the food and beverage sector will continue to flourish during the projected years.
Competitive Outlook
The notable companies in the mycelium market include Ecovative Design LLC, MycoWorks, MycoTechnology Inc, Groundwork BioAg, Meati Inc, Monaghan Group, and Mogu SRL.