Fungal Protein Market Forecast to Expand at 9.5% CAGR, Driven by Key Players Like AB Mauri and Kerry Group
WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, August 28, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, โFungal Protein Market1 by Type, Nature, and Application: Global Opportunity Analysis and Industry Forecast, 2021โ2030,โ The global fungal protein market size was valued at $156.6 million in 2020, and is expected to reach $386.6 million by 2030, registering a CAGR of 9.5% from 2021 to 2030.
๐ฅ๐ฒ๐พ๐๐ฒ๐๐ ๐ง๐ต๐ฒ ๐ฆ๐ฎ๐บ๐ฝ๐น๐ฒ ๐ฃ๐๐ ๐ข๐ณ ๐ง๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.alliedmarketresearch.com/request-sample/12731
The global fungal protein market is driven by factors such as rise in demand for yeast extract and beta-glucan among health-conscious consumers. In addition, increase in applications of yeast and specialty yeast products in the food & beverages industry and continuous investments in R&D for the development of new products boost the market growth. Furthermore, increase in cholesterol levels and rise in incidence of obesity and diabetes drive the market of fungal protein for making medicines, which in turn boost the immune system. Increase in demand for ready-to-eat foods due to rise in population of working women and growth in urban population fuels the fungal protein market growth.
Yeast extract is rich blend of natural ingredient composed of a variety of glutamic acid, carbohydrates, vitamins, amino acids, and minerals. The taste of yeast extract is similar to that of vegetable, meat, or poultry stock having the same proteins as yeast contains. The global fungal protein market is experiencing a significant growth, owing to its vast usage in different industries. Yeast extract is easily available in the super market and is used for refining sauces, meat bouillons, soups, meat dishes, savory snacks, and other ready meals. Yeast has similar effect as that of spices and helps lower the salt content without the loss of flavor. Besides its usage in food & beverages industry, it is also used in pharmaceutical and cosmetic industries.
The demand for fungus-based protein products has increased due to changes in eating patterns and rise in consumption of processed food coupled with high disposable income in developing countries. Moreover, increase in the use of yeast extract in the processed food industry has led to spiraling increase in the number of yeast manufacturers.
Factors such as shortage of molasses and easy availability of feasible substitutes in terms of sources of raw materials have affected the sales in response to yeast extract manufacturers to develop differentiated products. The untapped sectors for yeast extracts applications provide ample opportunities for development to the market players.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฉ๐จ๐ซ๐ญ (302 ๐๐๐ ๐๐ฌ ๐๐๐ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐๐ก๐๐ซ๐ญ๐ฌ, ๐๐๐๐ฅ๐๐ฌ, ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/checkout-final/665399496439eacae82844988929c341
The corona virus outbreak all over the globe has created medical emergency. Due to which, there is an increase in the demand for food items, hygiene products, and medical products in the market. COVID-19 has increased the sales of traditional, healthy, and staple food items. However, packaged food, bakery products, and meat products has experienced a decline in its sale due to which the demand for yeast extract in these industries also decreased to a significant level. Moreover, yeast is also used in cosmetics and personal care industries. The demand for the products of these industries has also decreased, which decline the growth of the fungal protein market. In addition, the lockdown scenario in various countries hampers the production and supply chain of the fungal protein companies.
According to the fungal protein market analysis, the market is segmented on the basis of type, nature, and application. The type segment in categorized into yeast and Fusarium Venenatum. By nature, the market is divided into organic and conventional. Based on application, the market is segmented into food & beverages, animal nutrition, pharmaceuticals, and others.
Based on type, the yeast segment held the major share in the market, and is likely to remain dominant throughout the forecast period.
Based on nature, the conventional segment held the major share in the market. The ingredients used are cheaper as compared to organic ingredients; thus, the conventional segment is anticipated to account for a higher market share as compared to the organic segment.
Based on application, the food & beverages segment held the major fungal protein market share. Increase in demand for fungal-based protein products in the food & beverages industry is a key factor that drives the market growth.
The key players profiled in this report include AB Mauri, Angel Yeast, Alltech, Halcyon Proteins, Kerry Group, Lallemand, Inc., Royal DSM., Sensient Technologies Corporation, and Specialty Biotech Co.,Ltd
๐๐๐ญ ๐๐จ๐ฎ๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐: https://www.alliedmarketresearch.com/request-for-customization/12731
Key findings of the study
By type, the yeast segment held the highest share, accounting for 82.7% of the global fungal protein market.
Based on nature, the conventional segment held the major share of 55.6% of the market
Region wise, Europe held the major share in the market and is expected to remain dominant throughout the forecast period.
๐๐จ๐ฉ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
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๐๐ฏ๐ผ๐๐ ๐จ๐
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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