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Sales Of Mycoprotein Products Market Assessed To Increase By Nearly 2x By 2027

According to Fact.MR’s latest study, the worldwide market for mycoprotein products was pegged at around US$ 200 Mn in 2018 and it is projected to witness blue skies with a compounded annual growth rate of over 12% during the forecast period of 2019 to 2027.

Currently, around one billion individuals worldwide do not have access to a diet that offers enough protein and energy. However, the processing of one of the primary protein sources i.e. animal meat, has serious environmental effects due to which mycoprotein products as an alternative source of protein has garnered immense traction across both advanced and emerging economies.

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Sustainable Production Methods Boosting Market Growth

Meat production has a significant effect on the environment and makes a major contribution to the eutrophication process. In this sense, it is essential to discover an alternative, inexpensive and less resource-consuming protein source to replace meat or meat products such as mycoprotein products.

Meat production accounted for over 15% of complete greenhouse gas (GHG) emissions, 68 percent of agricultural land, and a third of arable land required for crop production. The 2014 IPCC report on climate change emissions recognized changing diets as an underdeveloped yet important region of action. Budding concerns about the environmental impact and sustainability of the meat industry are the main growth drivers of the worldwide mycoprotein products market.

Global Mycoprotein Products Market: In-Depth Assessment on Key Segments

The global mycoprotein products market is segmented on the basis of form, sales channel, and region.

Form
  • Minced
  • Slices
Sales Channel
  • Supermarkets / Hypermarkets
  • Convenience Stores
  • Specialty Stores
  • Online Stores
Region
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA

Veganism Advocating Developments in Mycoprotein Based Meat Additives

Several entrants in the mycoprotein products market are already developing fresh techniques and ingredients, and some are trying to solidify their position in the market. Some of the key developments in the market are:

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