Mycoprotein Market By Product Type (Meat Substitutes, Protein-rich Snacks, Protein Powder), By Application (Food & Beverages, Animal Feed), By End-User (Vegetarians & Vegans, Health-conscious Consumers, Pet Food Manufacturers), By Distribution Channel (Online Retailers, Supermarkets, Specialty Stores), and By Region; Global Insights & Forecast (2023 – 2030)

As per Intent Market Research, the Mycoprotein Market was valued at USD 6.7 billion in 2024-e and will surpass USD 12.1 billion by 2030; growing at a CAGR of 10.3% during 2025 - 2030.

The mycoprotein market is experiencing significant growth, driven by the increasing demand for plant-based proteins and the growing awareness of health and sustainability. Mycoprotein, a protein-rich food derived from fungi, is widely used as a meat substitute in a variety of products such as plant-based burgers, sausages, and snacks. The market is also benefiting from a rising shift towards healthier dietary habits and the desire for alternative protein sources. Mycoprotein is rich in essential amino acids and has a favorable nutritional profile, making it an appealing choice for health-conscious consumers, vegetarians, and vegans.

As consumer preferences evolve towards more sustainable and eco-friendly food options, the mycoprotein market is expected to continue its growth trajectory. The shift towards plant-based diets, driven by concerns over environmental impact and animal welfare, is propelling the demand for mycoprotein across various product categories. Additionally, innovations in mycoprotein-based products are further enhancing their appeal and expanding their reach in the global market.

Meat Substitutes Product Type is Largest Owing to Rising Plant-Based Diets

The meat substitutes product type is the largest segment in the mycoprotein market, owing to the growing shift towards plant-based diets and the increasing adoption of meat alternatives. Mycoprotein is extensively used in the production of plant-based meat products, such as burgers, sausages, and nuggets, which mimic the texture and taste of meat. These products are gaining traction among vegetarians, vegans, and flexitarians who are looking to reduce their meat consumption without sacrificing taste or texture. The demand for healthier, more sustainable food options is driving the popularity of mycoprotein-based meat substitutes.

As consumer awareness about the environmental and health impacts of animal-based meat production rises, the demand for mycoprotein-based meat alternatives is expected to continue growing. This segment is likely to remain the largest due to the increasing availability of these products in supermarkets, restaurants, and fast-food chains, making plant-based options more accessible to a broader audience.

Food & Beverages Application is Largest Owing to Increased Adoption of Plant-Based Foods

The food and beverages application segment is the largest in the mycoprotein market owing to the widespread incorporation of mycoprotein in various food products. Mycoprotein is being used in a variety of food applications, including meat substitutes, protein-rich snacks, ready-to-eat meals, and dairy alternatives. The growing consumer preference for plant-based proteins has significantly contributed to the expansion of mycoprotein-based products in the food and beverages sector. Additionally, mycoprotein's versatility in flavor and texture makes it suitable for use in a wide range of product categories.

The continued focus on health and sustainability is expected to drive the food and beverages segment, as more manufacturers look to create innovative products that cater to health-conscious consumers. The growing demand for protein-enriched foods, along with the rise in plant-based diets, is set to further fuel the expansion of mycoprotein in the food industry.

Vegetarians & Vegans End-User Segment is Largest Owing to Dietary Preferences

The vegetarians and vegans end-user segment is the largest in the mycoprotein market owing to the increasing number of individuals adopting plant-based diets. Mycoprotein is a key protein source for vegetarians and vegans, providing essential amino acids and a meat-like texture, making it a popular ingredient in plant-based food products. As more people adopt vegetarian and vegan lifestyles for health, ethical, and environmental reasons, the demand for mycoprotein-based products continues to rise.

This demographic has increasingly sought out alternative protein sources, and mycoprotein fits the bill as it offers both nutritional benefits and a satisfying meat alternative. The growing awareness of plant-based nutrition is driving the growth of this end-user segment, with more consumers choosing mycoprotein-based options for their meals.

Online Retailers Distribution Channel is Fastest Growing Owing to Convenience and Accessibility

The online retailers distribution channel is the fastest growing in the mycoprotein market due to the convenience, accessibility, and wider selection of products available online. E-commerce platforms allow consumers to easily purchase mycoprotein-based products from the comfort of their homes, with many retailers offering home delivery services. The rapid growth of online shopping, coupled with the increasing popularity of plant-based diets, has made online retailers a key channel for reaching health-conscious consumers.

Additionally, online platforms allow consumers to compare different products, read reviews, and access a wider variety of specialized mycoprotein-based foods that may not be available in traditional retail outlets. The rise in digital marketing and the convenience of home delivery are likely to drive the continued expansion of this distribution channel in the mycoprotein market.

North America Region is Largest Owing to High Demand for Plant-Based Foods

North America is the largest region in the mycoprotein market owing to the high demand for plant-based foods and the growing trend of health-conscious eating. The United States and Canada are key contributors to the region's dominance, with a significant increase in the number of consumers adopting vegetarian, vegan, and flexitarian diets. North America has seen a surge in plant-based meat alternatives, as well as protein-rich snacks and beverages, all of which are driving the demand for mycoprotein. The region benefits from advanced distribution networks and the widespread availability of mycoprotein-based products in supermarkets and specialty stores.

The growing awareness of the environmental and health benefits of plant-based diets is also a major factor contributing to the region’s growth. With numerous startups and established food companies focusing on plant-based innovations, North America remains at the forefront of the mycoprotein market, with continued expansion expected in the coming years.

Leading Companies and Competitive Landscape

Leading companies in the mycoprotein market include Quorn, Tyson Foods, and Impossible Foods, which are key players in the development and commercialization of mycoprotein-based products. These companies are leveraging their expertise in food science and plant-based nutrition to develop a diverse range of mycoprotein products that cater to the growing demand for meat substitutes and protein-rich foods. Additionally, many of these companies are engaged in partnerships, collaborations, and acquisitions to expand their product offerings and strengthen their market presence.

The competitive landscape is marked by significant investment in research and development to create innovative mycoprotein-based products that meet consumer demands for taste, texture, and nutritional value. Companies are also focusing on sustainability by using eco-friendly production methods and packaging to appeal to environmentally conscious consumers. As the mycoprotein market continues to grow, competition will intensify, with companies striving to differentiate themselves through product innovation and strategic marketing.

Recent Developments:

• In December 2024, Quorn Foods launched a new line of protein-rich snacks made from mycoprotein, targeting health-conscious consumers.
• In November 2024, MycoTechnology expanded its mycoprotein-based food offerings, introducing a range of vegan meat alternatives in major supermarkets.
• In October 2024, Impossible Foods entered the mycoprotein market with a new range of sustainable protein products aimed at reducing the environmental impact of traditional meats.
• In September 2024, Eat Just Inc. announced a partnership with leading plant-based manufacturers to create a new mycoprotein product line for the foodservice industry.
• In August 2024, Bühler Group unveiled a new mycoprotein production technology that promises to improve the efficiency and sustainability of plant-based protein production.

List of Leading Companies:

• Quorn Foods
• MycoTechnology
• The Green Lab
• DSM
• Modern Meadow
• Taiyo Kagaku Co., Ltd.
• NutriLeads
• Meatable
• Eat Just Inc.
• Impossible Foods
• Beyond Meat
• Oatly
• Enwave Corporation
• Bühler Group
• Better Meat Co.

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