NORTH AMERICA MYCELIUM MARKET FORECAST 2023-2032

The North America mycelium market growth evaluation includes the assessment of the United States and Canada. The United States mycelium market growth is driven by increased government initiatives in the agricultural sector aimed at meeting the growing demand for vegan and mycelium-based products. For example, according to the USDA, mycelium grown in suitable edible media is considered appropriate for use in food and beverage products, provided that any food product containing mycelium is properly labeled. Additionally, technological advancements and developments are enhancing product quality and production processes.

In recent years, numerous companies have invested in and collaborated to accelerate the growth of the mycelium market in the United States. In August 2019, Phillips Mushroom Farms and Goodwill DE partnered to create mycelium-based bio-composites for developing clothing and apparel prototypes, utilizing raw materials from Goodwill DE and Philips Mushroom Farms’ technology. These factors are expected to stimulate the mycelium market in the country.

Furthermore, the United States has experienced a rapid increase in demand for vegan and eco-friendly products across various sectors, including animal feed, food and beverage solutions, pharmaceutical products, and sustainable packaging materials, owing to factors such as increased animal husbandry, environmental concerns, and rising carbon emissions in industries like food and beverage, clothing and apparel, pharmaceuticals, and packaging.

Moreover, the United States is actively supporting the global mycelium market’s development by implementing several reforms and regulations pertaining to mycelium’s use as a raw material in the food and beverage industry, pharmaceutical industry, packaging industry, and animal feed sector. One notable regulation, mandated by the USDA, requires companies to disclose the use of mycelium as an ingredient in their food products.

The North America mycelium market segmentation includes end-user, product form, and type. The end-user segment includes packaging industry, animal feed industry, clothing and apparel industry, food & beverage industry, and other end-users.

Mycelium-derived mycoproteins serve as a significant nutritional resource not only for humans but also for other organisms, including animals and fish. The utilization of mycelium mycoprotein in animal feed, such as in cattle and swine diets, has received governmental approval and is being adopted by farmers worldwide. This adoption has established mycoprotein as a cost-effective and environmentally friendly source of animal feed, offering superior nutrition compared to other plant-based alternatives. 

Research has demonstrated that mycoprotein is a highly nutritious substance for animals, containing various enzymes and unidentified nutrients. It effectively enhances feed conversion ratios, promotes increased pig mass, and improves meat quality while reducing the incidence of several diseases. Additionally, it can function as a substitute for soybean meals and fishmeal in animal diets.

Further, the packaging sector relies significantly on styrofoam and polystyrene materials. Worldwide, the food and beverage industry employs single-use plastics for packaging purposes. Additionally, finished and packaged products often utilize plastic packaging, which has a decomposition period of hundreds of years. In response to growing concerns about the environmental impact and harm caused by polystyrene and styrofoam packaging, several countries have initiated full or partial bans on these materials.

Chinova Bioworks Inc and Bolt Threads are among the eminent firms operating in the North America mycelium market.

Bolt Threads manufactures and produces mycelium-based leather alternative fabrics. It also develops and produces natural silk fibers and fabrics. The product portfolio includes MICROSILKTM, MYLOTM, and B-SILKTM PROTEIN. The company has its headquarters in Emeryville, California, the United States.

One of its products, MYLOTM, is a soft, supple mycelium-based material that is less harmful to the environment.