Mycelium Market

When you imagine fungi, the first picture is mostly a mushroom. Yes, Mushrooms are finally getting their attention. Mushrooms are very healthy for immune support.

However, there’s much more to fungi that are concealed under our feet and inside animals and plants. As we see a demand for products in the market, mycelium is a vital part often overlooked.

Mycelium Market Size

The global mycelium market was valued at USD 2.88 billion in 2022 and is expected to grow to USD 5.86 billion at a CAGR of 7.4% during the forecast period of 2032.

The market is yet in the developing stage. Improved research and development actions are in progress to expand mycelium-based products, which are predicted to boost due to the transition in customer choice to plant-based meat and veganism.

One of the immediate prospects in the global mycelium industry is an increase in assets in the R&D of mycelium. Furthermore, mycelium properties can be customized based on different applications guiding customers to adopt mycelium-based products in the pharmaceutical, electronics, construction, and skin care industry.

Let’s learn the mysteries behind this underground network of fungi.

What is Mycelium? 

Have you ever noticed thread-like forms that grow on stale bread or rotten tomatoes? These yarns are usually white or cream-colored and rise in long fibers known as hyphae. This structure is the vegetative form of fungi called mycelium. Mycelium is generally found in soils and other organic matter.

Why is Mycelium Important?

As the fruitful part of the mushroom is crucial and can deliver its benefits, the mycelium benefits naturally concentrate on immunity. Mycelium is also best known for sustaining a healthy immune system by supporting resistant cells for protection, power, and a balanced immune reaction.

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What is Driving the Mycelium Market Growth?

The increasing urbanization and awareness about fitness and well-being boost the demand for natural flavors such as mycelium. Adding more flavors to improve the deliciousness of the food enriches the market for mycelium globally.

Furthermore, the increasing need for organic and natural essences and flavorings in the food industry is expected to expand demand for mycelium, which will be profitable for the overall market.

Which Regions Are Demanding More Mycelium?

The market is segmented into different regions, such as: 

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

The advantages and clean labeling of mycelium are obtaining a lot of engagement in the North American Market, which supports the growth of naturally appearing food flavors like mycelium. Furthermore, Europe is a principal place for the mycelium industry.

Europe is where the growth of the food and beverage industry is most pronounced, followed by North America and Asia Pacific, in that order. Mycelium is a great substitute for traditional dietary products made from animals.

Recent Developments in Global Market

  • In July 2022, The goal of Meati Inc.’s production facility, which it leased, is to produce alternative meat by 2022, using less than 1 percent of the water needed by the animal meat industries.
  • In March 2021, MycoWorks partnered with luxury label Hermes to create a new Victoria bag. This product will be a market innovator because it is made from mycelium-based leather, known as “Sylvania.”

In Summary

Here you hold it; the mycelium industry is expanding rapidly with many health benefits and growing demand for it. If you weren’t finding mushrooms exciting earlier, we hope you will now consider the power of mycelium to sustain and nurture your body, mind, and spirit!

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By Apurva Nagare

Anthony is a passionate and versatile content writer at Polaris News Blog. With a passion for storytelling and keen eye to detail, he creates content that transcends the mundane and resonates with the audience. Anthony brings with him a vast experience in digital content creation and specializes in SEO, website and social media content. His diverse expertise allows him to craft engaging and informative content across various niches. When he's not writing, you'll find Anthony exploring the great outdoors, indulging in his love for photography, or immersing himself in a good book.