South Korea Mycoprotein Market was valued at USD 0.05 Billion in 2022 and is projected to reach USD 0.1 Billion by 2030, growing at a CAGR of 8.0% from 2024 to 2030.
The South Korean Mycoprotein market is poised for significant growth, as industries increasingly turn to sustainable and protein-rich alternatives for food production. Mycoprotein, a high-quality, meat-free protein derived from fungi, is gaining traction in South Korea due to rising concerns over health, environmental sustainability, and animal welfare. The demand for plant-based foods has skyrocketed in recent years, with mycoprotein being a key player in the protein alternatives segment.
The South Korean market for mycoprotein is driven by several key factors, including an increasing population of health-conscious consumers and a shift toward eco-friendly practices. Many industries, especially those in the food production sector, are looking for alternatives to traditional meat due to concerns about the environmental impact of livestock farming. Mycoprotein, with its low carbon footprint and minimal environmental impact, provides an appealing option to meet both consumer demands and environmental goals.
One of the primary industries utilizing mycoprotein in South Korea is the food and beverage sector. With the rise of veganism, vegetarianism, and flexitarian diets, there is a growing need for alternative protein sources. Mycoprotein is being incorporated into various products, such as meat substitutes, ready-to-eat meals, and even snacks. The flexibility of mycoprotein in terms of texture and flavor profile makes it ideal for these applications, satisfying both taste preferences and nutritional requirements.
In addition to the food industry, South Korea’s healthcare and pharmaceutical sectors are showing interest in mycoprotein for its potential health benefits. Mycoprotein is rich in fiber and essential amino acids, making it a functional ingredient in dietary supplements and therapeutic food products. The growth of the health-conscious consumer base in South Korea further enhances the demand for such products.
The mycoprotein market in South Korea is also influenced by the increasing awareness of global sustainability challenges. As more consumers and industries opt for plant-based proteins, mycoprotein offers a promising solution to meet future food security needs. In addition, the market benefits from robust supply chains, technological advancements, and increasing production capabilities that make mycoprotein more accessible to a wider range of consumers and industries.
The demand for mycoprotein in South Korea is expected to rise exponentially over the next few years, driven by both consumer preferences and the need for sustainable food production solutions. Industries, from food manufacturing to pharmaceuticals, are recognizing the potential of mycoprotein as an innovative, eco-friendly, and nutritious ingredient that can meet the evolving needs of modern consumers.
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Quorn/Monde Nissin Corporation
ENOUGH (3fbio Ltd)
Mycorena
Mycovation
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Mycoprotein Market
Whole Mycoprotein
Mycoprotein-based Ingredients
Frozen
Dry
Fresh
Meat Alternatives
Snack Foods
Ready-to-Eat Meals
Fungi
Bacteria
Vegetarians
Vegans
Flexitarians
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Mycoprotein Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Mycoprotein Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Mycoprotein Market, By Type
6. South Korea Mycoprotein Market, By Application
7. South Korea Mycoprotein Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Mycoprotein Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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