Mycelium Meat - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030

QY Research Inc. (Global Market Report Research Publisher) announces the release of 2024 latest report "Mycelium Meat- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030". Based on current situation and impact historical analysis (2019-2023) and forecast calculations (2024-2030), this report provides a comprehensive analysis of the global Wire Drawing Dies market, including market size, share, demand, industry development status, and forecasts for the next few years.
 
Mycelium meat refers to a sustainable and alternative protein source produced using mycelium, the root structure of fungi. This mycelium-based meat substitute is cultivated through fermentation processes, using techniques similar to those in the production of traditional plant-based meat alternatives. Mycelium meat is gaining attention for its ability to mimic the texture and taste of conventional animal meat while offering environmental benefits such as reduced greenhouse gas emissions and land usage. It represents an innovative approach to addressing the environmental and ethical concerns associated with traditional meat production by providing a protein-rich food source derived from fungi.
 
【Get a free sample PDF of this report (Including Full TOC, List of Tables & Figures, Chart)】 
https://www.qyresearch.com/reports/2361491/mycelium-meat
 
 

Naplasol acquires Mycorena to drive growth in European mycelium and alternative protein market set to hit 10 billion euros by 2030

Geneva, Switzerland, August 29, 2024
Naplasol, a member of the VEOS Group, has acquired Swedish mycoprotein company Mycorena, a move expected to boost the mycelium and alternative protein market. The acquisition will see Naplasol expand its mycoprotein product portfolio by producing Mycorena's flagship mycoprotein, Promyc®, at its industrial facility in Bree, Belgium.
Mycorena, known for its innovative mycelium protein ingredient used in meat alternatives, had previously raised €24 million in a Series A funding round in March 2022, the largest for an alternative protein company in Europe at that time. Despite securing €35 million in total funding and receiving recognition from the European Space Agency for its potential in long-distance space missions, Mycorena faced financial challenges. The company had to halt its large-scale factory project in Sweden earlier this year due to unsuccessful attempts to secure Series B funding. Subsequently, Mycorena filed for bankruptcy in July.
VEOS Group's co-CEO, Wim Slee, emphasized the complementary nature of Naplasol and Mycorena's expertise in the mycoprotein sector, expressing confidence in continuing Mycorena's legacy. Mycorena's founder, Ramkumar Nair, echoed this optimism, noting the acquisition as a significant opportunity for growth under VEOS Group's strong industrial expertise.
VEOS Group, founded in 1974 and headquartered in Belgium, is a global player in the food, pet food, and feed industries. The acquisition of Mycorena aligns with VEOS Group's strategy to expand its range of sustainable solutions and reinforce its position in the alternative protein market.

Policy Analysis
The European mycelium and alternative protein industry has gained significant momentum in recent years, driven by growing consumer demand for sustainable food sources and the environmental benefits associated with plant-based diets. This analysis examines the current policy landscape, key market players, challenges, and opportunities within this burgeoning sector, using the recent acquisition of Mycorena by Naplasol as a case study to highlight broader industry trends.
Policy Landscape
EU Green Deal and Farm to Fork Strategy: The European Green Deal, launched in 2019, aims to make Europe the first climate-neutral continent by 2050. The Farm to Fork Strategy, a critical component of the Green Deal, emphasizes the transition to sustainable food systems. These initiatives support the development of alternative proteins, including mycelium-based products, to reduce the environmental footprint of food production. Policymakers encourage innovation in this sector through funding and regulatory support, promoting research and market development.
European Protein Strategy: This strategy underscores the EU's commitment to enhancing the sustainability of protein sources by supporting research into alternative proteins. The strategy aims to reduce dependence on imported soy and promote local protein production, which aligns with the growth of the mycelium and alternative protein sectors.
Regulatory Environment: The European Food Safety Authority (EFSA) plays a crucial role in ensuring that new food products, such as mycoprotein-based foods, meet safety standards before they can enter the market. The Novel Food Regulation (EU) 2015/2283 sets the framework for authorizing and marketing novel foods in Europe, which includes alternative proteins. This regulatory pathway, although stringent, ensures consumer safety and product quality, which can enhance market acceptance.
Market Dynamics and Key Players
Growth and Investment: The European alternative protein market has seen substantial investment, with companies like Mycorena raising significant funding to expand production capabilities. Mycorena's €24 million Series A funding round in 2022 marked the largest for an alternative protein company in Europe at the time, demonstrating investor confidence. This was later surpassed by Infinite Roots, highlighting a growing interest in the sector.
Industry Consolidation: The acquisition of Mycorena by Naplasol, part of the VEOS Group, reflects a trend of consolidation within the industry. Larger companies are acquiring innovative startups to enhance their product portfolios and leverage synergies in production and research. This consolidation can provide the financial stability and industrial expertise necessary for scaling production and reaching wider markets.
Innovation Hubs and Research: Countries like Sweden, the Netherlands, and Germany have become innovation hubs for alternative proteins, driven by strong research ecosystems and supportive government policies. These hubs are crucial for the development of new technologies and products, such as mycelium-based proteins, that can meet the demands of environmentally conscious consumers.
Challenges
Regulatory Hurdles: Navigating the regulatory approval process for novel foods can be time-consuming and costly, potentially delaying market entry for innovative products. Companies must invest in thorough research and documentation to meet EFSA standards, which may pose a barrier to smaller startups with limited resources.
Scaling Production: While demand for alternative proteins is increasing, scaling production to meet this demand remains a challenge. The discontinuation of Mycorena's large-scale factory project in Sweden highlights the financial and operational difficulties that can arise. Securing investment and managing costs are critical factors for successful scale-up.
Market Acceptance and Consumer Awareness: Despite growing interest, alternative proteins still face challenges in gaining widespread consumer acceptance. Education about the environmental and health benefits of mycoprotein products is essential to increase market penetration. Additionally, taste and texture improvements are necessary to compete with traditional animal-based proteins.
Opportunities
Sustainability and Climate Goals: The environmental benefits of mycelium and other alternative proteins align with global sustainability goals, offering significant market opportunities. Companies that can effectively communicate these benefits are likely to attract eco-conscious consumers and investors.
Public and Private Funding: Increased availability of public funding through EU programs, such as Horizon Europe, and private investment in alternative protein startups provide financial resources for research, development, and market expansion. Collaborative efforts between industry and academia can drive innovation and accelerate commercialization.
Global Expansion: European companies in the mycelium and alternative protein sector have the opportunity to expand globally, leveraging their expertise and products to enter new markets. Partnerships with multinational food companies can facilitate this expansion, providing access to larger distribution networks and consumer bases.

Market Overview
Market Size and Growth
Current Market Size: The alternative protein market in Europe was valued at approximately €2.7 billion in 2022, with mycelium-based proteins constituting a growing segment of this market. The rising awareness of sustainability and health benefits associated with plant-based diets is fueling consumer interest in these products. Mycelium, a type of fungal protein, is increasingly recognized for its versatility, nutritional benefits, and low environmental footprint.
Projected Growth: The European market for alternative proteins is expected to grow at a compound annual growth rate (CAGR) of over 10% in the coming years. Mycelium-based products, which are relatively new compared to other plant-based alternatives, are projected to experience even faster growth. This is supported by increasing investments in research and development, advancements in production technologies, and a favorable regulatory environment.
Investment Trends: In recent years, there has been a surge in investment in the alternative protein sector in Europe. For instance, Mycorena, a Swedish company specializing in mycelium-based proteins, raised €24 million in a Series A funding round in 2022, the largest at the time for a European alternative protein company. Investment in this sector is driven by both private investors and public funding initiatives aimed at promoting sustainable food innovation.
Key Market Players
Mycorena: Based in Sweden, Mycorena has been a pioneer in developing mycelium-based protein products for meat alternatives. The company's flagship product, Promyc®, has gained attention for its use in various food applications. Despite recent financial challenges that led to the discontinuation of a large-scale factory project and a bankruptcy filing, Mycorena's acquisition by Naplasol (part of the VEOS Group) highlights its potential and strategic value within the industry.
Naplasol and VEOS Group: The acquisition of Mycorena by Naplasol, a member of the Belgian VEOS Group, marks a significant consolidation in the industry. VEOS Group, with its established presence in the food, pet food, and feed industries, aims to enhance its mycoprotein product portfolio and leverage Mycorena's expertise to expand production at its facilities in Belgium. This acquisition underscores the strategic interest in mycelium-based proteins and the ongoing trend of larger companies acquiring innovative startups.
Quorn Foods: A leading name in the mycoprotein market, Quorn Foods has been producing mycelium-based meat substitutes for several decades. Quorn's established brand presence and extensive distribution network make it a significant player in the European market. The company's continuous product innovation and marketing efforts contribute to increasing consumer acceptance of mycelium-based proteins.
Meati Foods and Other Startups: Emerging companies like Meati Foods, which focuses on whole-cut mycelium-based products, are entering the European market, contributing to its diversification. These startups bring innovative approaches and products that cater to niche consumer segments, further driving market growth.
Consumer Trends and Demand Drivers
Health and Wellness: Consumers in Europe are increasingly prioritizing health and wellness, seeking out protein sources that are low in fat, cholesterol-free, and rich in nutrients. Mycelium-based proteins meet these criteria, offering high protein content, fiber, and essential amino acids, making them an attractive alternative to traditional meat.
Sustainability: Environmental concerns are a significant factor driving the demand for alternative proteins. Mycelium production is resource-efficient, requiring less water, land, and energy compared to conventional livestock farming. This aligns with the growing consumer preference for sustainable and eco-friendly products, making mycelium-based proteins a compelling option.
Innovation and Culinary Appeal: Mycelium's versatility in terms of texture and flavor profile allows for a wide range of culinary applications, from meat substitutes to dairy alternatives. Ongoing innovation in product development is enhancing the taste and texture of mycelium-based products, making them more appealing to mainstream consumers.
Challenges
Scaling Production: While consumer demand is rising, scaling up production to meet this demand poses challenges. High initial capital requirements, technological complexities, and the need for specialized facilities can hinder rapid scale-up. Companies need to navigate these challenges to achieve economies of scale and reduce production costs.
Regulatory Approval: The regulatory framework for novel foods, including mycelium-based products, is stringent. Companies must comply with the European Food Safety Authority (EFSA) standards, which can be a time-consuming and costly process. Ensuring compliance and obtaining necessary approvals are critical for market entry and expansion.
Consumer Awareness and Acceptance: While interest in alternative proteins is growing, consumer awareness of mycelium-based proteins remains limited. Educating consumers about the benefits and potential of mycelium as a sustainable protein source is essential for increasing market penetration.
Future Prospects
Technological Advancements: Innovations in fermentation and bioprocessing technologies are expected to improve the efficiency and scalability of mycelium production. These advancements will lower production costs and enhance product quality, making mycelium-based proteins more competitive with traditional protein sources.
Expansion into New Markets: European companies have the potential to expand into international markets, leveraging their expertise and product innovations. Strategic partnerships and collaborations with global food companies can facilitate this expansion, providing access to new consumer bases and distribution channels.
Increased Investment and Public Support: Continued investment from private equity, venture capital, and public funding initiatives will drive research and development in the mycelium and alternative protein sector. Government policies supporting sustainable food systems, such as the EU Green Deal and Farm to Fork Strategy, will further boost industry growth.

Investment Opportunities
Growing Consumer Demand for Sustainable Foods
Shift Towards Plant-Based Diets: European consumers are increasingly adopting plant-based diets due to concerns over animal welfare, health, and environmental sustainability. The demand for sustainable food alternatives is boosting the market for mycelium and other plant-based proteins. Investors can capitalize on this growing consumer trend by supporting companies that develop innovative, sustainable, and nutritious mycelium-based products.
Health and Wellness Focus: The health benefits of mycelium-based proteins, including high protein content, low fat, and absence of cholesterol, are attractive to health-conscious consumers. As awareness of these benefits increases, so does the demand for mycelium-based products. Investors can tap into the health and wellness trend by investing in companies that offer functional foods with added nutritional benefits, such as fortified mycelium-based products enriched with vitamins, minerals, and other bioactive compounds.
Environmental Sustainability: Mycelium production has a lower environmental footprint compared to traditional meat production, requiring less water, land, and energy. With the global push towards reducing greenhouse gas emissions and promoting sustainable food systems, mycelium-based products align well with environmental goals. Investment in companies that prioritize sustainability and have strong environmental credentials can attract eco-conscious consumers and investors alike.
Technological Innovations
Advancements in Fermentation Technology: Innovations in fermentation processes are critical for scaling up mycelium production efficiently. Precision fermentation and solid-state fermentation techniques are improving the scalability, consistency, and cost-effectiveness of mycelium production. Investing in companies that are pioneering these advanced fermentation technologies can yield high returns as the industry scales to meet increasing demand.
Product Development and Diversification: The versatility of mycelium allows for the development of a wide range of products beyond traditional meat substitutes, such as dairy alternatives, seafood substitutes, snacks, and even whole-cut mycelium-based products like steaks and fillets. Investment in research and development to create novel mycelium-based food products can cater to diverse consumer preferences and expand market reach. Companies focusing on product innovation and diversification present attractive investment opportunities.
Bioprocessing and Automation: Automating the production process is essential for achieving economies of scale and reducing costs. Investment in bioprocessing technologies that enhance production efficiency and automation can help companies scale up their operations while maintaining product quality. Companies that integrate cutting-edge automation and bioprocessing solutions into their production lines are well-positioned to lead the market.
Strategic Partnerships and Acquisitions
Consolidation Trends: The acquisition of Mycorena by Naplasol, a member of the VEOS Group, illustrates the trend of consolidation within the alternative protein industry. Strategic partnerships and acquisitions enable companies to combine resources, expertise, and market access to enhance their competitive advantage. Investors can explore opportunities in mergers and acquisitions to build a diversified portfolio of companies in the mycelium and alternative protein sector.
Collaborations with Food Giants: Partnering with established food companies can provide startups with the necessary resources and distribution networks to scale production and reach mainstream markets. Investors can facilitate collaborations between mycelium-based companies and traditional food producers to accelerate market penetration and product adoption. Such partnerships can enhance brand visibility and credibility, making mycelium-based products more accessible to consumers.
Public-Private Partnerships: Government initiatives and funding programs aimed at promoting sustainable food production present opportunities for public-private partnerships. Investors can leverage these partnerships to access funding, research facilities, and expertise to support the development and commercialization of mycelium-based products. Collaborating with government agencies and research institutions can also help navigate regulatory challenges and accelerate market entry.
Market Expansion and Global Opportunities
Expanding Beyond Europe: While Europe is a leading market for mycelium and alternative proteins, there is significant potential for expansion into international markets, such as North America and Asia-Pacific. These regions are experiencing growing demand for sustainable food alternatives, presenting lucrative opportunities for European companies to export their products. Investors can support companies in scaling their operations and establishing a presence in global markets through strategic investments and partnerships.
Targeting Emerging Markets: Emerging markets in Latin America, Africa, and Southeast Asia are also showing interest in sustainable food solutions. Investing in companies that develop affordable and culturally relevant mycelium-based products for these regions can open up new revenue streams and drive global growth. Understanding local consumer preferences and market dynamics will be key to successful expansion in these markets.
Diversifying Applications Beyond Food: Mycelium's versatility extends beyond food applications, with potential uses in packaging, textiles, biomaterials, and construction. Companies exploring mycelium-based solutions for biodegradable packaging, sustainable textiles, and eco-friendly building materials present unique investment opportunities. Diversifying into these sectors can provide additional revenue streams and contribute to a circular economy.
Supportive Policy Environment
EU Green Deal and Farm to Fork Strategy: The European Union's commitment to sustainability, as outlined in the Green Deal and Farm to Fork Strategy, provides a supportive policy framework for the growth of the mycelium and alternative protein industry. These initiatives promote research, innovation, and sustainable food production, offering funding opportunities and incentives for companies in the sector. Investors can benefit from a favorable regulatory environment that encourages the development and commercialization of alternative proteins.
Funding and Grants for Innovation: The availability of public funding programs, such as Horizon Europe, supports research and development in sustainable food technologies. Investors can tap into these funding opportunities to co-finance projects and reduce investment risk. Collaborating with research institutions and universities can also facilitate access to grants and accelerate technological advancements in mycelium production.

Related Market Reports From QY Research

QY Research Releases Comprehensive Market Reports on the mycelium and alt-protein Market, as shown in the links below. These reports provide an in-depth analysis of the current market landscape, key trends, and future growth opportunities.
Global Mycelium Meat Market Insights, Forecast to 2030
https://www.qyresearch.com/reports/2410444/mycelium-meat
Mycelium - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
https://www.qyresearch.com/reports/2546181/mycelium
Global Alt Protein Market Insights, Forecast to 2030
https://www.qyresearch.com/reports/2875051/alt-protein
 
 
The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.
 
The Mycelium Meat market is segmented as below:
By Company
    Quorn Foods
    Meati
    Prime Roots
    Ecovative
    The Better Meat
    Libre Foods
    Mushlabs
    Bosque Foods
    Adamo Foods
    Mycorena
    ENOUGH
    Fable Foods
    Nature's Fynd
    MycoTechnology
    MyForest Foods
    70/30 Food Tech
 
Segment by Type
    Bacon & Deli Meats
    Whole-Cut Steak
    Chicken
    Others
 
Segment by Application
    Commercial
    Household
 
Each chapter of the report provides detailed information for readers to further understand the Mycelium Meat market:
Chapter 1: Introduces the report scope of the Mycelium Meat report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2019-2030)
Chapter 2: Detailed analysis of Mycelium Meat manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2019-2024)
Chapter 3: Provides the analysis of various Mycelium Meat market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2019-2030)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2019-2030)
Chapter 5:  Sales, revenue of Mycelium Meat in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2019-2030)
Chapter 6:  Sales, revenue of Mycelium Meat in country level. It provides sigmate data by Type, and by Application for each country/region.(2019-2030)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2019-2024)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
 
Benefits of purchasing QYResearch report:
Competitive Analysis: QYResearch provides in-depth Mycelium Meat competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.
Industry Analysis: QYResearch provides Mycelium Meat comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.
and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.
Market Size: QYResearch provides Mycelium Meat market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.
 
Other relevant reports of QYResearch:
Global Mycelium Meat Market Insights, Forecast to 2030
Global Mycelium Meat Market Research Report 2024
Global and India Mycelium Meat Market Report & Forecast 2024-2030
 
 

 

About Us：
QYResearch founded in California, USA in 2007, which is a leading global market research and consulting company. Our primary business include market research reports, custom reports, commissioned research, IPO consultancy, business plans, etc. With over 17 years of experience and a dedicated research team, we are well placed to provide useful information and data for your business, and we have established offices in 7 countries (include United States, Germany, Switzerland, Japan, Korea, China and India) and business partners in over 30 countries. We have provided industrial information services to more than 60,000 companies in over the world.

Contact Us:
If you have any queries regarding this report or if you would like further information, please contact us:
QY Research Inc.
Add: 17890 Castleton Street Suite 369 City of Industry CA 91748 United States
EN: https://www.qyresearch.com
Email: global@qyresearch.com
Tel: 001-626-842-1666(US)  
JP: https://www.qyresearch.co.jp

This release was published on openPR.