Mycoprotein Market Size & Share, By Type (Feed Grade Mycoprotein Food Grade Mycoprotein), Form (Minced Slices), Sales Channel (Supermarkets/Hyper Markets Convenience Stores Specialty Stores Online Stores) - Growth Trends, Regional Insights (U.S., Japan, South Korea, UK, Germany), Competitive Positioning, Global Forecast Report 2025-2034

Market Outlook

Mycoprotein Market size is set to increase from USD 752 million in 2024 to USD 1.47 billion by 2034, with a projected CAGR exceeding 6.9% from 2025 to 2034. The industry revenue for 2025 is anticipated to hit USD 798.7 million.

• Base Year Value (2024): USD 752 million
• CAGR (2025-2034): 6.9%
• Forecast Year Value (2034): USD 1.47 billion
• Historical Data Period: 2019-2024
• Largest Region: Asia Pacific
• Forecast Period: 2025-2034

Key Takeaways

In terms of segmentation, the global Mycoprotein market is analyzed on the basis of Type, Form, Sales Channel.

Market Dynamics

Growth Drivers & Opportunity:

Increasing consumer demand for meat alternatives is driving the growth of the mycoprotein market. Consumers are increasingly looking for plant-based protein alternatives due to health and environmental concerns.

Growing awareness about the health benefits of mycoprotein, such as its high protein content and low fat content, is also fueling market growth.

The rising trend of veganism and vegetarianism is creating a huge opportunity for the mycoprotein market as these consumers look for meat alternatives that are both healthy and sustainable.

Industry Restraints:

A substantial impediment for the mycoprotein market is the high production costs associated with scaling up production. This has been a challenge for companies looking to expand their mycoprotein offerings to meet growing demand.

Regulatory challenges and lack of standardized regulations for mycoprotein in different regions can also hinder market growth. Companies often face difficulties navigating the complex regulatory landscape for mycoprotein products.

Regional Forecast

North America: The mycoprotein market in North America is experiencing steady growth, particularly in the United States and Canada. The increasing awareness among consumers about the benefits of mycoprotein as a plant-based protein source has been driving the market in this region. The presence of key market players such as Quorn Foods and MycoTechnology further boosts the market growth in North America.

Asia Pacific: In Asia Pacific, countries like China, Japan, and South Korea are witnessing a rise in the demand for mycoprotein products. The growing health consciousness among the population, coupled with the increasing adoption of vegetarian and vegan diets, is fueling the growth of the mycoprotein market in this region. Key players like Meati Foods and Prime Roots are expanding their presence in Asia Pacific to cater to the rising demand for alternative protein sources.

Europe: The mycoprotein market in Europe is well-established, with countries like the United Kingdom, Germany, and France leading the way. The growing trend of flexitarianism and the shift towards sustainable and plant-based diets are driving the demand for mycoprotein in Europe. Companies like Marlow Foods (Quorn) and MycoTechnology are investing heavily in research and development to introduce innovative mycoprotein products to the European market.

Segmentation Analysis

Mycoprotein Market, By Type:

The mycoprotein market can be segmented based on type into feed grade mycoprotein and food grade mycoprotein. Feed grade mycoprotein is primarily used as a protein source in animal feed, while food grade mycoprotein is used in human food products. The demand for food grade mycoprotein is expected to witness significant growth due to the increasing popularity of plant-based protein sources among consumers.

Mycoprotein Market, By Form:

The mycoprotein market can also be segmented based on form into minced and sliced mycoprotein. Minced mycoprotein is commonly used in various food products such as burgers, nuggets, and sausages, while sliced mycoprotein is favored for use in sandwiches and salads. The convenience and versatility of minced and sliced mycoprotein make them popular choices among food manufacturers and consumers.

Mycoprotein Market, By Sales Channel:

The mycoprotein market can further be segmented based on sales channel into supermarkets/hypermarkets, convenience stores, specialty stores, and online stores. Supermarkets and hypermarkets are expected to dominate the sales of mycoprotein products due to their wide product range and convenient shopping experience. However, online stores are witnessing rapid growth in sales of mycoprotein products due to the increasing trend of online shopping and the convenience it offers to consumers. Specialty stores also play a significant role in the distribution of mycoprotein products, catering to consumers looking for niche and unique food products.

Competitive Landscape

The mycoprotein market is experiencing significant growth driven by increasing consumer interest in plant-based protein sources and sustainable food alternatives. Major companies in this sector are focusing on product innovation, expanding distribution channels, and enhancing brand visibility to capture market share. The competitive landscape includes a mix of established food manufacturers and emerging startups, all aiming to meet the rising demand for meat substitutes and health-conscious options. Key trends influencing competition include the use of advanced fermentation technology, emphasis on the nutritional benefits of mycoprotein, and investment in marketing campaigns targeting vegan and flexitarian consumers. As more players enter the market, partnerships and collaborations for research and development are becoming increasingly common to leverage new technologies and drive product differentiation.

Top Market Players

- Quorn Foods

- MycoTechnology

- The Better Meat Co.

- Meati Foods

- Mycoprotein Solutions

- Terramino Foods

- Fungi Perfecti

- Nature's Fynd

- Green Boy Foods

- Eat the Change