1 Global Mycelium Market Insight Analysis
The global mycelium market is valued at USD 357.53 million in 2024, with a CAGR of 19.52% from 2024 to 2033.
Mycelium are the rootlike fibers of fungi which grow beneath the surface of the ground, appearing as a frost-like growth beneath leaves and bark and growing into a dense network for sprouting mushrooms. Mycelium has a robust fiber structure that may be used to make clothes, food, building materials, and packaging. The research objects in the report include raw mycelia and mycelia molded into various forms.
Figure Global Mycelium Market Size (M USD) and CAGR (2024-2033)
2 Mycelium Market Growth Drivers and Restraints
Low cost and wide sources of raw materials: Mycelium production can utilize agricultural waste from various places, such as rice husks and cottonseed husks in China, buckwheat and oat husks in Northern Europe or North America, etc. This localized and self-sufficient production model not only effectively saves fossil fuel consumption for long-distance transportation of raw materials, but also reduces the cost of raw materials due to the low calorific value of agricultural waste, which cannot be used for power generation or heating, and has low nutritional content, providing cost advantages for the development of the mycelium market.
The production process is simple and efficient: During the production process, mycelium has the characteristics of self-assembly, and the desired shape can be obtained by simply filling the raw materials into the mold. Its manufacturing process does not require high temperature and high pressure treatment, which further saves energy consumption. At the same time, the mycelium culture environment is relatively simple, with low equipment requirements. There is no need to build traditional large-scale production centers. Small and medium-sized factories can be established according to local conditions to meet the needs of different production scales, which has promoted the growth of the market.
Driven by environmental protection needs: As the world’s attention to environmental protection continues to increase, the environmental pollution caused by traditional plastics is becoming increasingly serious. According to statistics, of the 8.3 billion tons of plastic produced by humans, 6.3 billion tons have become waste, and the recycling rate is only 9%. A large amount of plastic waste poses a serious threat to the ecological environment and human health. As a biodegradable material, mycelium can replace some traditional plastics. For example, Ecovative has proved that mycelium can replace polystyrene packaging, which makes it have broad market prospects driven by environmental protection needs.
Downstream demand growth: Mycelium is used in many fields such as food, packaging, leather, and construction. In the food field, plant-based meat can be made to meet consumers’ demand for healthy and sustainable food; in the packaging field, its degradable characteristics are in line with the development trend of environmentally friendly packaging; in the leather field, it can be made into bio-based leather substitutes; in the construction field, it can be used to produce environmentally friendly building materials. The growth in demand in downstream industries has strongly promoted the development of the mycelium market.
The technology is not yet mature: Although mycelium materials show a variety of functional application potentials, many technologies are still in their infancy. In terms of fermentation technology, although some progress has been made and new avenues for functional applications have been opened up, it is still necessary to improve material properties, production processes and other aspects to make it a universal material like plastic.
Challenges in large-scale production: For large-scale manufacturing of new technologies, from prototype design to cost-effective large-scale production, there will be many new challenges and complexities. For example, when expanding the scale of production, problems such as unstable raw material supply, low production efficiency, and difficulty in ensuring product quality may be encountered, which increases production costs and difficulties and limits the further expansion of the market.
Insufficient consumer awareness: Some consumers have concerns about mycelium and are worried about its spore toxicity and parasite problems, which leads to psychological barriers for consumers when accepting mycelium products. This consumer psychology limits the promotion and application scope of mycelium products in the market and hinders the rapid growth of the market.
Lack of unified standards: At present, mycelium products lack a standardized evaluation system, and there are no clear and unified inspection methods and testing standards in terms of comprehensive product performance and safety. This makes the quality of products on the market uneven, affects consumers’ trust in products, and is not conducive to the standardized development of the market.
3 Technological Innovations in the Mycelium Market
Optimization of material performance: Enterprises and scientific research institutions are committed to exploring the structure-activity relationship between raw material selection, strain cultivation and product performance, and establishing corresponding theoretical models. Through material modification, composite material design and other means, the mechanical properties of mycelium materials are improved, making them more advantageous in strength, durability and other aspects to meet the needs of different application scenarios.
Improvement of production process: Continuously optimize the production process, solve the problems of raw material storage and traceability, shorten the product production cycle and degradation cycle, and continuously reduce product costs. For example, Ecovative uses AirMycelium™ technology to cultivate pure mycelium materials on a large scale in vertical farms, which improves production efficiency, and the production process is environmentally friendly, and the products are completely biodegradable.
Exploring new application areas: Exploring new properties of mycelium, such as self-repair, insulation and adsorption, to further expand its application scenarios in clothing, sports, food, pollution control and 3D printing. For example, mycelium can be used as a supporting material for electronic circuit boards. Because of its heat resistance, light weight, adjustable shape and hydrophobicity, it provides a new material choice for the electronics field.
MycoWorks Financing Expansion: On January 14, 2022, MycoWorks announced that it had received $125 million in Series C financing, led by Prime Movers Lab. The financing will be used to build the first full-scale Fine Mycelium™ production plant to meet the growing market demand for its materials, including its flagship product Reishi™. The new plant will be built based on the successful experience of its Emeryville pilot plant and is expected to produce millions of square feet of Fine Mycelium materials each year after it goes into production. It will also support the expansion of the company’s team and continued R&D innovation.
Ecovative Financing Increase: On April 1, 2021, mushroom leather producer Ecovative received $60 million in Series D financing. The new funds came from new investor Viking Global and existing investors AiiM Partners, Senator Investment Group and Trousdale Ventures. Ecovative focuses on using mushroom root structures (mycelium) to produce textiles and packaging materials. The funds will be used to increase production capacity and support its “Mycelium Foundry” R&D work. As the market demand for sustainable leather alternatives grows, Ecovative’s financing will enhance its competitiveness in the market.
Corporate collaboration drives innovation: Many well-known companies have collaborated with mycelium companies to promote product innovation. For example, Hermès has collaborated with MycoWorks to launch products using mycelium materials; Stella McCartney, adidas and other brands have collaborated with Bolt Threads to use its developed Mylo™ mycelium leather material. These collaborations have not only promoted the application of mycelium materials in the fashion field, but also increased the popularity and market recognition of mycelium products.
4 Global Mycelium Market Size by Type
Raw mycelium refers to the initial, unprocessed form of mycelium, which is typically used as a base material for further processing into various products. In 2024, the revenue generated from raw mycelium was $100.44 million USD, accounting for 28.09% of the total market revenue. This type of mycelium is highly valued for its natural properties and is used extensively in applications such as food production, where it serves as a key ingredient in plant-based meat alternatives. The robust fiber structure of raw mycelium also makes it suitable for creating biodegradable packaging materials, contributing to its significant market share.
Processed mycelium involves the transformation of raw mycelium into more specialized forms through specific manufacturing processes. This category includes products such as mycelium leather, myco-boards, and other advanced materials. In 2024, the revenue from processed mycelium reached $257.09 million USD, representing 71.91% of the total market revenue. The processed mycelium segment has seen substantial growth due to its versatility and ability to meet diverse industry needs. For instance, mycelium leather has gained significant traction in the fashion industry, with luxury brands such as Hermès and Stella McCartney incorporating it into their product lines. Additionally, processed mycelium is used in construction as a sustainable alternative to traditional building materials, further driving its market share.
Table Global Mycelium Market Size and Share by Type in 2024
Type | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
Raw | 100.44 | 28.09% |
Processed | 257.09 | 71.91% |
5 Global Mycelium Market Size by Application
Food Industry: The food industry is the largest application segment for mycelium, with a market revenue of approximately 221.50 million USD in 2024, accounting for 61.95% of the total mycelium market. Mycelium is used to create plant-based meats and other food products, offering a sustainable and eco-friendly alternative to traditional meat. Companies like Meati Foods are leading the way in developing mycelium-based food products that mimic the texture and taste of real meat, driving the growth of this segment.
Packaging Industry: The packaging industry is another significant application area for mycelium. In 2024, the market revenue for mycelium in packaging is projected to be around 44.90 million USD, representing 12.56% of the total market. Mycelium-based packaging materials are biodegradable and compostable, making them an attractive alternative to traditional plastic packaging. Companies such as Ecovative and Magical Mushroom Company are pioneering the use of mycelium for packaging solutions, reducing environmental impact.
Leather Industry: The leather industry is also a key application for mycelium. With a market revenue of 56.26 million USD in 2024, it holds a 15.73% market share. Mycelium leather is a sustainable alternative to animal leather, offering similar properties without the environmental and ethical concerns associated with traditional leather production. Brands like Hermès and Stella McCartney have partnered with mycelium leather companies such as MycoWorks to develop high-end leather products.
Construction Industry: The construction industry is an emerging application for mycelium. In 2024, the market revenue for mycelium in construction is expected to be 24.49 million USD, representing 6.85% of the total market. Mycelium-based materials can be used to create eco-friendly construction products such as insulation panels and composite boards, reducing the carbon footprint of the construction industry.
Table Global Mycelium Market Size and Share by Application in 2024
Application | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
Food Industry | 221.50 | 61.95% |
Packaging Industry | 44.90 | 12.56% |
Leather industry | 56.26 | 15.73% |
Construction Industry | 24.49 | 6.85% |
Others | 10.38 | 2.90% |
6 Global Mycelium Market Size by Region
The United States is anticipated to be one of the leading markets for mycelium in 2024, with a projected revenue of USD 137.1 million. The country’s robust economy, strong focus on innovation, and growing consumer interest in sustainable and eco-friendly products are key drivers of this market. The US market is characterized by a high level of technological advancement and a supportive regulatory environment that encourages the development and commercialization of mycelium-based products.
Companies like Ecovative and Bolt Threads are at the forefront of this market, leveraging advanced biotechnology to produce mycelium materials for various applications, including fashion, packaging, and construction. The US market is also influenced by increasing demand from downstream industries, such as the food and leather sectors, which are seeking sustainable alternatives to traditional materials.
Europe is expected to have a substantial market revenue of USD 147.33 million in 2024. The region’s strong commitment to environmental sustainability and its advanced industrial base make it a significant player in the mycelium market. European countries, particularly those in Western Europe, have been at the forefront of adopting mycelium-based products due to stringent environmental regulations and a high level of consumer awareness about sustainability.
Companies such as Mycelia BVBA and MOGU are actively involved in the production and commercialization of mycelium materials. The European market is also driven by the fashion industry’s growing interest in sustainable materials, with luxury brands like Hermès and Stella McCartney exploring mycelium-based leather alternatives. Additionally, the region’s strong research and development infrastructure supports continuous innovation in mycelium applications.
China’s mycelium market is projected to reach USD 30.47 million in revenue in 2024. The country’s rapid economic growth and increasing focus on sustainable development are key factors driving the market. China’s large manufacturing base and extensive supply chain network provide a strong foundation for the production and distribution of mycelium-based products.
The Chinese market is characterized by a growing demand for sustainable materials from various industries, including construction, packaging, and textiles. The government’s support for green technologies and initiatives aimed at reducing plastic waste further boost the market. Chinese companies are also investing in research and development to improve the quality and applications of mycelium materials, positioning the country as a major player in the global market.
Japan’s mycelium market is expected to generate a revenue of USD 11.98 million in 2024. The country’s advanced technology and strong focus on innovation play a crucial role in the development of the mycelium market. Japanese companies are known for their high-quality production standards and are actively involved in the research and development of mycelium-based materials. The Japanese market is driven by the growing demand for sustainable materials in the fashion, packaging, and construction industries. The country’s aging population and increasing environmental awareness also contribute to the market’s growth. Japanese companies are collaborating with international partners to expand the applications of mycelium materials and promote their adoption in various sectors.
Figure Global Mycelium Market Size (M USD) by Region in 2024
7 Global Mycelium Market Analysis by Major Players
Ecovative
Company Profile
Ecovative was established in 2007 and is headquartered in North America, with its production plants distributed across the region. The company has a global sales network. Ecovative is a materials science company that focuses on unlocking the natural potential of mycelium through modern technology. Its mission is to create next-generation materials via mycelium biofabrication and make these materials accessible to everyone. Leveraging its Mycelium Foundry, Ecovative collaborates with partners in the textile, food, and packaging industries to develop better materials for everyday needs.
Business Overview
Ecovative’s business centers on the biofabrication of mycelium-based materials. The company grows 100% pure mycelium materials at scale in vertical farms, producing sustainable alternatives to leather, plastic, and other fossil fuel-based products. These materials are not only environmentally friendly but also meet the performance requirements of various industries. Ecovative works with global brands and companies to promote the commercial application of mycelium materials and expand its market share. In 2021, the company’s revenue reached USD 21.34 million, and it further increased to USD 30.49 million in 2022.
Product Offered
Ecovative offers a range of mycelium-based products, including AirMycelium™, which is used to produce sustainable materials for the fashion and packaging industries. These products are grown in a way that mimics natural processes, resulting in materials that are fully biodegradable and have a low environmental impact. The company’s products are designed to be versatile and can be used in various applications, from clothing and accessories to packaging solutions.
Mycelia BVBA
Company Profile
Mycelia BVBA was founded in 1985 and is based in Europe. The company has a strong presence in the European market and serves clients globally. Mycelia BVBA is a biotechnology company specializing in the production of mycelium at different stages of development, including mother cultures, mother spawn, and spawn. It is known for its extensive portfolio of over 1300 products, more than 200 strains and species, and over 35 recipes, offering a broad range of mycelium applications.
Business Overview
Mycelia BVBA’s business focuses on providing high-quality mycelium products and related services to customers in various industries. The company offers consultancy and training services to assist customers in developing products for the mushroom and biocontrol markets. It also supports clients in optimizing their production processes and improving product quality. Mycelia BVBA has built a strong reputation for its expertise in mycelium cultivation and its ability to meet the diverse needs of its customers. In 2021, the company’s revenue was USD 13.53 million, and it grew to USD 16.65 million in 2022.
Product Offered
Mycelia BVBA’s product offerings include a wide variety of mycelium strains and species tailored for different applications. These products are used in the production of edible mushrooms, biocontrol agents, and other mycelium-based materials. The company’s extensive portfolio allows customers to choose the most suitable strains for their specific needs, whether it is for food production, agricultural applications, or the development of new materials.
Bolt Threads
Company Profile
Bolt Threads was established in 2009 and has production facilities in the US and the Netherlands. The company operates globally and is known for its innovative approach to materials science. Bolt Threads is committed to revolutionizing the way people think about and use natural materials by creating advanced performance fibers and fabrics using proprietary breakthroughs in industrial biotechnology.
Business Overview
Bolt Threads focuses on developing sustainable and high-performance materials using mycelium. The company’s Mylo™ is a bio-based leather alternative made from mycelium, which is soft, supple, and environmentally friendly. Bolt Threads collaborates with leading brands such as adidas, lululemon, and Stella McCartney to bring these innovative materials to the market. The company’s business strategy involves continuous research and development to improve the performance and applications of its mycelium-based products. In 2021, Bolt Threads’ revenue was USD 10.63 million, and it increased to USD 17.60 million in 2022.
Product Offered
Bolt Threads offers Mylo™, a mycelium-based leather alternative that is designed to be a sustainable and cruelty-free option for the fashion industry. This material is produced using mycelium, the root structure of fungi, and is processed to create a product that closely resembles traditional leather in appearance and feel. Mylo™ is used in the production of clothing, accessories, and other fashion items, providing a sustainable alternative to conventional leather products.