Mycelium Market Poised for Strong Growth, Projected to Reach USD 5.35 Billion by 2034

According to Towards FnB, the global mycelium market size is calculated at USD 3.11 billion in 2025 and is anticipated to surge USD 5.35 billion by 2034, reflecting at a CAGR of 6.2% from 2025 to 2034. This market expansion is being driven by the growing demand for sustainable, eco-friendly materials across industries such as food, fashion, packaging, and construction.

Ottawa, Nov. 03, 2025 (GLOBE NEWSWIRE) -- The global mycelium market size stood at USD 2.93 billion in 2024 and is predicted to increase from USD 3.11 billion in 2025 to USD 5.35 billion by 2034, according to a report published by Towards FnB, a sister firm of Precedence Research.

The market demand has been increasing lately due to higher demand for sustainability, the use of eco-friendly materials for various purposes, and the adoption of biodegradable products and materials to reduce waste.

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Key Highlights of the Mycelium Market

By region, North America dominated the mycelium market in 2024, whereas the Asia Pacific is expected to grow in the foreseen period due to the growing population and growing disposable income of the region, leading to higher demand for sustainable actions, further hiking demand for mycelium growth.
By nature, the organic segment dominated the mycelium market in 2024, whereas the processed mycelium segment is expected to expand in the foreseeable period due to advanced R&D and development in fungal biotechnology and material science, helping to hike the demand for processed mycelium.
By product type, the powder segment led the market in 2024, whereas the capsules segment is expected to grow in the foreseen period due to its easy usage, which helps to hike its demand.
By end-use industry, the food and beverages segment led the market in 2024, whereas the clothing and apparel segment is expected to expand in the forecast period as highly-demanding fashionable apparel pieces are using sustainable materials made from mushroom-based materials.

Propelling Demand for Functional and Healthy Food is helpful for the Mycelium Industry.

The mycelium market is observed to grow rapidly lately due to strengthening factors such as higher demand for sustainable and biodegradable alternatives to conventional materials such as plastic, leather, and traditional meat products. Mycelium is the vegetative structure of fungi embodying a blend of several essential traits helpful for making healthy, functional, nutritious, scalable, and cost-effective options. It also helps in the creation of food products with appealing tastes, flavors, textures, micronutrients, and foods that are high in protein. Hence, the market has a huge base of health-conscious consumers as well.

Mycelium is quickly becoming a key player in the plant-based food revolution,’ said Vidyesh Swar, Principal Consultant at Towards FnB. ‘Its versatility and sustainable attributes make it an attractive alternative to traditional meat and animal-based products.’

New Trends of the Mycelium Market

Higher demand for biodegradable alternatives to maintain sustainability is one of the major factors for the growth of the market.
Higher demand for sustainably strong packaging material is another advantageous factor for the growth of the market. Mycelium packaging, when integrated with other types of packaging, forms a strong material ideal for sustainable packaging.
Increasing demand for sustainable meat alternatives by a conscious crowd also helps to propel the demand for mycelium.
Mycelium-based food options have longer shelf lives, which is helpful for consumers with hectic lifestyles. Hence, such factors further help to propel the growth of the market.

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Recent Developments in the Mycelium Market

In June 2025, Moooi product developers debuted their series of mycelium chairs in Copenhagen’s Design Festival. The main aim of the company is to prove to consumers that sustainable furniture can look appealing and attractive too. (Source- https://www.dezeen.com)
In March 2025, Ecovative, a mycelium innovator, raised $11M funding to support MyBacon, the mycelium-based meat alternative sold under its spinout company, MyForest Foods. (Source- https://www.greenqueen.com.hk)

Major Applications Offered by Leading Companies

Company	Major Application(s)	Description
Ecovative Design LLC	Packaging & insulation materials	Develops mycelium-based composites that replace plastics and foams used in consumer goods and industrial packaging.
MycoWorks	Sustainable leather substitutes	Produces “Reishi” mycelium leather used in fashion, footwear, and automotive interiors as an eco-friendly alternative to animal leather.
Meati Foods	Mycelium-based protein alternatives	Manufactures high-protein, whole-cut mycelium products that serve as clean-label meat alternatives.
Bolt Threads Inc.	Fashion and textiles	Creates “Mylo” — a mycelium-derived leather alternative adopted by major apparel and luxury brands.
Atlast Food Co.	Food ingredient innovation	Develops mycelium-based food ingredients and sustainable protein products to support plant-based diets.

Mycelium Usage in the Food Industry

Mycelium is an ideal replacement for animal-based meat, helpful to fuel the growth of the mycelium market. It has a fibrous, meat-like texture ideal to replicate animal-based meat. Hence, such options are highly demanded by vegans, plant-based diet followers, and consumers in favor of sustainability.
Nutritious Profile- Mycelium is a healthy source of various essential elements such as protein, vitamins, minerals, and fiber, which can be easily incorporated into other food items to enhance their flavors and nutritional profile.
Flavor Enhancer- Another major usage of mycelium involves enhancing the flavors of different food items, which is helpful for the growth of the mycelium market. It can be used to elevate the flavors of soups, sauces, and plant-based products. Hence, it proves to be a boon for vegans and plant-based diet followers.

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Mycelium Market Dynamics

What are the growth drivers of the Mycelium Market?

One of the biggest factors for the growth of the market involves higher demand for sustainable, strong, and biodegradable material options. Such options easily help to lower the carbon footprint and also allow consumers to use strong materials with sustainable features. Mycelium has a meaty taste and texture ideal for making vegan meat options. Hence, such factors further help to boost the growth of the market. It has a meaty taste, flavor, and texture perfect for making vegan and plant-based meat. Advanced R&D and ongoing research are helping the market for the production of cost-effective mycelium-based material options that are scalable for mass production as well.

Challenge

Uplifted Mechanical Costs obstructing the Growth of the Market

Mycelium-derived products require careful attention and specific technological settings such as controlled environments, specialized equipment, and high production time. Such factors lead to increasing costs at each step, obstructing the growth of the market. Development of mycelium-based products is expensive compared to the manufacturing of traditional products, further obstructing the growth of the market.

Opportunity

Technological Advantages and Research are helpful for the Growth of the Market.

Technological advancements in the form of industrial fermentation, strain improvement, recombinant DNA technology, gene editing, and silencing utilized for development and mycelium-based design are a major opportunity for the growth of the market. AI and automation also help to fuel the growth of the market, aiding fungi-based bioprocesses for improved harvest.

Mycelium Market Regional Analysis

North America led the Mycelium Market in 2024

Mycelium is globally utilized due to the higher demand by health-conscious consumers. It is an ideal replacement for animal-based meat and has the identical flavor, texture, and taste. Hence, vegans and plant-based diet followers form a huge base for the growth of the market in the region. Utilization of mushroom mycelium in different industries in the region is another growth factor for the market. Use of mycelium in a wide range of products in the region, such as food, animal feed, cosmetics, and packaging materials, also helps to fuel the growth of the market. The US has a major role in the growth of the market of the region due to a higher emphasis on sustainability, higher demand for sustainable materials for food, packaging, and textiles.

United States’ Expansion in Mycelium Market

In the United States, the mycelium market is witnessing strong commercial growth as companies scale up production and diversify applications across packaging, food, fashion, and building materials. The country remains a leader in biotechnology innovation, with multiple players investing in advanced mycelium cultivation technologies and sustainable material design. Rising consumer preference for plant-based foods, growing investment in alternative protein, and widespread corporate sustainability commitments are major contributors to market expansion. Furthermore, U.S. companies are forming partnerships across industries to integrate mycelium-based composites and leathers into mainstream consumer products, driving steady market penetration.

Asia Pacific is Expected to Grow in the Forecast Period

Factors propelling the growth of the mycelium market in the region majorly involve growing disposable income, growing population, and growing worries of food shortage in the region as well. Hence, the mycelium and mushroom manufacturers are emphasizing increasing crop production to maintain the continuous supply and cater to the needs of consumers.

Increasing per capita consumption of mushrooms, export and import of mushrooms, and use of advanced mycelium farming methods are other major factors helpful for the growth of the market in the foreseeable period. China has a major role in the market’s growth due to the higher demand for sustainable and healthy lives by the population of the region.

India’s Expansion in Mycelium Market

In India, the mycelium market is expanding rapidly due to the growing emphasis on sustainability, government initiatives promoting bio-based innovation, and increasing research in fungal biotechnology. The market is expected to record robust growth through 2031, supported by strong demand for eco-friendly materials in packaging, textiles, and construction. India’s abundance of agricultural waste provides a cost-effective raw material base for mycelium cultivation, while rising environmental regulations against single-use plastics are encouraging industries to adopt biodegradable alternatives. Additionally, academic institutions and startups are collaborating to develop scalable mycelium-based products, positioning India as an emerging hub for sustainable biomaterial innovation.

Europe is Expected to Experience Notable Growth in the Foreseeable Period

Europe is expected to experience a notable growth of the mycelium market in the foreseeable period. The key drivers of the market involve higher demand for sustainable and biodegradable options. Higher demand for eco-friendly and sustainable materials in multiple domains, such as packaging, food, and textiles, is another major factor for the market’s growth.

Supportive EU policies are a massive growth factor for the market in Europe, encouraging people to adopt sustainable habits and use products. Germany has a major contribution in the market as it leads the alternative protein innovation, catering to the needs of consumers.

Mycelium Market Report Scope

Report Attribute	Key Statistics
Base Year	2024
Forecast Period	2025 to 2034
Growth Rate from 2025 to 2034	CAGR of 6.2%
Market Size in 2025	USD 3.11 Billion
Market Size in 2026	USD 3.30 Billion
Market Size by 2034	USD 5.35 Billion
Dominated Region	North America
Fastest Growing Region	Asia Pacific
Regions Covered	North America, Europe, Asia-Pacific, Latin America and Middle East & Africa

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Mycelium Market Segmental Analysis

Nature Analysis

The organic segment led the mycelium market in 2024 due to higher demand for organic and sustainable actions for a lower carbon footprint. The growing carbon footprint observed due to the manufacturing of conventional products is another major factor for the growth of the market, as observed in the high demand for mycelium-based products and materials. Hence, companies are also focusing on replacing synthetic materials with biodegradable and sustainable options for a balanced environment. Lowering waste, maintaining sustainability, and providing quality materials are major factors considered by manufacturing companies, leading to higher usage of mycelium-based sustainable materials.

The processed mycelium segment is observed to grow in the foreseen period due to its versatility to be used for the manufacturing of different products in different domains. Use of mycelium-based materials for the production of different products helps to cater to the needs of the growing population sustainably, further fueling the growth of the market in the foreseeable period. The market also observes growth due to advancing development in fungal biotechnology and material science.

Product Type Analysis

The powder segment led the mycelium market in 2024, as the versatility of mushroom powder to be used in the food industry in different products, such as breakfast cereals, bakery items like breads, cakes, and cookies, is a major factor for the growth of the market. The ingredient is also an essential component for pharmaceuticals and nutraceuticals due to its properties, such as bioactive constituents. Powder supplements can be easily incorporated into solids as well as liquid food options to enhance their nutritional factors. Hence, such factors also help to fuel the growth of the market.

The capsule segment is observed to be the fastest growing in the foreseen period due to various supportive factors such as easy absorption by the body, easy to use, easy to carry, and longer shelf life. Such helpful factors allow consumers to store the mycelium-based tablets easily and maintain their nutritional profile. Capsules also have a marinated taste profile and are palatable as well.

End Use Analysis

The food and beverages segment dominated the mycelium market in 2024 due to its higher demand in the manufacturing of different food products to enhance their nutritional levels. The mycelium base also helps to enhance the texture and flavor of various food options. It is the best and ideal option for the manufacturing of plant-based meat and hence is highly demanded by vegans and plant-based diet followers. Hence, such consumers and factors help to fuel the growth of the market.

The clothing and apparel segment is expected to grow in the foreseeable period due to high demand for mushroom-based fabric for the manufacturing of high-end, fashionable clothes. The mycelium-based materials help to maintain sustainability and provide a cleaner option for the manufacturing of apparel. Mycelium-based fabric can also be used for the manufacturing of hybrid clothing to enhance the lifespan of synthetic materials. It helps to lower the wastage and also helps to create a perfect environmental balance, further fueling the growth of the mycelium market in the foreseeable period.

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Additional Topics Worth Exploring:

Tea Market: The global tea market size is projected to expand from USD 30.25 billion in 2025 to USD 54.68 billion by 2034, growing at a CAGR of 6.8% during the forecast period from 2025 to 2034
Beverage Packaging Market: The global beverage packaging market size is projected to reach USD 271.80 billion by 2034, growing from USD 173.71 billion in 2025, at a CAGR of 5.1% during the forecast period from 2025 to 2034.
Gluten Free Food Market: The global gluten free food market size increasing from USD 14.25 billion in 2025 and is expected to surpass USD 33.59 billion by 2034, with a projected CAGR of 10% during the forecast period from 2025 to 2034.
Canned Wines Market: The global canned wines market size is expected to increase from USD 127.88 million in 2025 to USD 332.46 million by 2034, growing at a CAGR of 11.2% throughout the forecast period from 2025 to 2034.
Plant-Based Protein Market: The global plant-based protein market size is projected to expand from USD 20.33 billion in 2025 and is expected to reach USD 43.07 billion by 2034, growing at a CAGR of 8.7% during the forecast period from 2025 to 2034.
Bakery Product Market: The global bakery product market size is rising from USD 507.46 billion in 2025 to USD 821.62 billion by 2034. This projected expansion reflects a CAGR of 5.5% during the forecast period from 2025 to 2034.
Coconut Products Market: The global coconut products market size is expected to climb from USD 14.18 billion in 2025 to approximately USD 33.71 billion by 2034, growing at a CAGR of 10.1% during the forecast from 2025 to 2034.
Pet Food Market: The global pet food market size is expected to increase from USD 113.02 billion in 2025 to USD 167.97 billion by 2034, growing at a CAGR of 4.5% throughout the estimated timeframe from 2025 to 2034.
Organic Food Market: The global organic food market size is expected to grow from USD 253.96 billion in 2025 to USD 660.25 billion by 2034, with a compound annual growth rate (CAGR) of 11.20% during the forecast period from 2025 to 2034.

Top Companies in the Mycelium Market

MycoWorks
Ecovative Design
Mycotech Lab
Meati Foods
MycoSure
Bolt Threads
Grown.bio
Mogu
Chinova Bioworks
Four Sigmatic
FreshCap Mushrooms
Mycro Harvest Inc.
Prime Roots
Biomyc
Groundwork BioAg, Ltd.
Magical Mushroom Company
Mycovation
Mycelia nv
Monaghan Group
S.lab
Basciani Foods
CMP mushrooms
Mushroom Material

Segments Covered in the Report

By Nature

Organic
Processed
Raw
Conventional

By Product Type

Powder
Capsules
Tablets
Others

By End-Use

Packaging
Construction
Food and beverage
Clothing and apparel
Automotive
Animal feed
Others

By Region

North America

U.S.
Canada

Asia Pacific

China
Japan
India
South Korea
Thailand

Europe

Germany
UK
France
Italy
Spain
Sweden
Denmark
Norway

Latin America

Brazil
Mexico
Argentina

Middle East and Africa (MEA)

South Africa
UAE
Saudi Arabia
Kuwait

Thank you for exploring our insights. For more targeted information, customized chapter-wise sections and region-specific editions such as North America, Europe, or Asia Pacific—are also available upon request.

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Towards FnB is a global consulting firm specializing in the food and beverage industry, providing innovative solutions and expert guidance to elevate businesses. With an in-depth understanding of the dynamic F&B sector, we deliver customized market analysis and strategic insights. Our team of seasoned professionals is committed to empowering clients with the knowledge needed to make informed decisions, ensuring they stay ahead of market trends. Partner with us as we redefine success in the rapidly evolving food and beverage landscape, and together, we’ll navigate this transformative journey.

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