Mycelium Market Research Methodology Forecast to 2020 – 2026
The global mycelium market was estimated to be at $2.48 billion in 2020, which is expected to grow with a CAGR of 7.7% and reach $3.84 billion by 2026. The growth in the global mycelium market is expected to be driven by increasing demand for sustainable materials and their contribution to the circular economy.
Read Report Overview: Global Mycelium Market
- With an increased worldwide focus on achieving net-zero emissions, the shift to eco-friendly, sustainable products brings significant sales and financing opportunities. The shift is more prominent in food and beverages industry in regions such as North America and Europe. The U.S. plant-based meat retail sales grew by 45% to $1.4 billion sales in 2020. This infers that mycelium can be a great alternative to conventional animal-based food products.
- Furthermore, mycelium-based packaging has a moderate to high impact on the plastic and styrofoam packaging industry. Companies such as Dell and IKEA have already started using mycelium-based packaging materials for their products. Cosmetic companies are using mycelium-based packaging material due to its strength and leakproof properties. Therefore, the customizable properties of mycelium present it as a go-to option for industries globally.
Product/Innovation Strategy: The product segment helps the reader understand the different types of mycelium products available for deployment in the food and beverages, clothing, packaging, and other industries, and their potential globally. Moreover, the study provides the reader a detailed understanding of the different mycelium-based products by application (food and beverage, packaging, clothing and apparel, animal feed, and others), by nature (raw and processed), and by form (pre-formed product, powder, and tablet and capsule). Mycelium-based finished products generate higher revenues when compared to the operational and raw material costs. Therefore, mycelium business is a low-investment and high-revenue generating agricultural model.
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Competitive Strategy: Key players in the global mycelium market analyzed and profiled in the study involve mycelium-based product manufacturers that provide raw or processed products. Moreover, a detailed competitive benchmarking of the players operating in the global mycelium market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.