According to Meticulous Research®, the global fungal protein market is forecasted to reach $397.5 million by 2029, registering a CAGR of 7.6% from 2023 to 2029. The market volume is also projected to grow, reaching 23,185 tons by 2029 at a CAGR of 6.2%. Key drivers of this growth include the rising demand for allergen-free foods, increased consumption of processed foods, and the growing popularity of meat substitutes. However, the lack of clear regulatory guidelines may hamper market growth.
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Segmented by type, application, and geography, the global fungal protein market sees the yeast extract segment as the fastest-growing, with high adoption rates in the processed food industry. North America is expected to maintain its lead in market share, owing to a growing vegan culture and a demand for alternative protein sources.
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