Brand Story
03 Jun 2023, 06:29 GMT+10
According to Fact.MR's latest study, the worldwide market for mycoprotein products was pegged at around US$ 200 Mn in 2018 and it is projected to witness blue skies with a compounded annual growth rate of over 12% during the forecast period of 2019 to 2027.
At the moment, about a billion people globally lack access to a diet that provides enough protein and energy. Mycoprotein products, an alternative source of protein, have gained tremendous traction in both developed and developing economies since the processing of animal meat, one of the main sources of protein, has negative environmental implications.
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Meat production has a significant effect on the environment and makes a major contribution to the eutrophication process. In this sense, it is essential to discover an alternative, inexpensive and less resource-consuming protein source to replace meat or meat products such as mycoprotein products.
Meat production accounted for over 15% of complete greenhouse gas (GHG) emissions, 68 percent of agricultural land, and a third of arable land required for crop production. The 2014 IPCC report on climate change emissions recognized changing diets as an underdeveloped yet important region of action. Budding concerns about the environmental impact and sustainability of the meat industry are the main growth drivers of the worldwide mycoprotein products market.
Several entrants in the mycoprotein products market are already developing fresh techniques and ingredients, and some are trying to solidify their position in the market. Some of the key developments in the market are:
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The global mycoprotein products market is segmented on the basis of form, sales channel, and region.
Form
Sales Channel
Region
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