Europe Mycelium Market 2023-2030

Europe Mycelium Market 2023-2030

Market Outlook

According to Triton’s report, the mycelium market in Europe is projected to register a CAGR of 7.34% during the forecast period 2023-2030. The study considers countries such as Germany, Italy, Poland, the United Kingdom, Spain, France, and Rest of Europe.

Consumers are increasingly showing interest in meat analogs, also known as imitators of meat in the UK. This growing interest is primarily driven by the rising awareness of health and environmental concerns. Simulated meat products offer a substantial source of high-quality protein to consumers without placing excessive strain on global natural resources. Mycelium proteins hold significant promise in meeting this demand, although they have received relatively less attention compared to plant-based proteins. Notably, the United Kingdom witnessed substantial growth in the sale of meat substitutes. This trend led Enough, a Scottish company, to supply mycoprotein to Unilever’s plant-based brand, The Vegetarian Butcher.

Porcini mushrooms, whose mycelium is often used in Italian rice and soups, are the most common mushrooms in Italy. While Italy imports most of these mushrooms from Eastern Europe to supplement its production, they remain a popular choice in Italian cuisine. Additionally, Italy is a significant consumer and processor of truffle mushroom mycelium in Europe. Furthermore, the older population shows a greater interest in mycelium-based products compared to the younger generation. This preference arises from the ease of incorporating mycelium into various industries, including food and beverage, packaging, and clothing.

Competitive Outlook

The eminent firms in the mycelium market comprise Meati Inc, Ecovative Design LLC, MycoWorks, Nature’s Fynd, Groundwork BioAg, MycoTechnology Inc, Monaghan Group, and Mogu SRL.