New York, United States – May 2025 — According to Straits Research, the Global Mycelium Market, valued at USD 3.1 billion in 2023, is projected to expand significantly, reaching approximately USD 6.5 billion by 2032. The market is forecasted to grow at a compound annual growth rate (CAGR) of 8.5% during the period 2024–2032, driven by increasing consumer preference for sustainable, plant-based products and innovations in mycelium applications across multiple industries.

Market Scope and Research Methodology

The scope of the report encompasses an in-depth analysis of the global mycelium market, focusing on market trends, growth factors, challenges, and opportunities across key sectors. Straits Research employs a combination of qualitative and quantitative research methodologies. This includes primary interviews with industry leaders and key stakeholders, along with secondary data sources such as company financials, government publications, and proprietary databases. The report offers detailed insights into market dynamics, segmental performance, and competitive positioning, providing a comprehensive overview for stakeholders.

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Regional Insights

Europe Leads the Global Mycelium Market

Europe dominates the global mycelium market, credited largely to robust government support, cutting-edge R&D facilities, and sustainability-driven initiatives. In 2020, Europe generated the highest revenue in the market—approximately EUR 1.08 billion—and continues to lead in embracing eco-friendly alternatives in industries such as packaging, fashion, and food & beverages.

North America: Fastest Growing Region

North America is witnessing the fastest growth rate, propelled by increasing consumer awareness of natural, clean-label ingredients and the booming vegan lifestyle trend. The region’s vibrant food and beverage sector and health-conscious population are key contributors to market expansion. Moreover, the region is seeing active participation in the development of innovative applications, particularly in packaging and plant-based alternatives.

Segmental Analysis

By Product Type

The market is segmented into Pre-Formed Products, Powder, Capsules, and Tablets. The pre-formed product segment holds the largest share, primarily due to its extensive use in food, fashion, and packaging. Powdered mycelium ranks second, valued for its long shelf life and versatile mixing capabilities.

By Nature

Based on nature, the market is bifurcated into Raw Mycelium and Processed Mycelium. The processed mycelium segment leads the market, thanks to its wider usability and scalability in end-user industries like pharmaceuticals, construction, and consumer goods.

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Key Players in the Global Mycelium Market

• Ecovative Design LLC

• MycoWorks

• Atlast Food Co.

• Meati Foods

• Bolt Threads Inc.

• Mogu

• Mycelia

• MycoComp

• Biomyc

• Kingdom Supercultures

• Nature’s Fynd

• Prime Roots

• Four Sigmatic

• Radical Mycology

Conclusion

The global mycelium market is in a transformative phase, driven by the confluence of sustainability trends, health awareness, and technological innovation. As industries pivot toward eco-friendly materials and natural ingredients, mycelium stands out as a versatile and scalable solution. With strategic investments and supportive policies, the market is poised for robust growth, offering lucrative opportunities for stakeholders worldwide.

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