Dublin, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Mycelium Market: Analysis and Forecast, 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific mycelium market (excluding China) was valued at $300.0 million in 2023 and is expected to reach $500.1 million by 2028, growing at a CAGR of 10.76% between 2023 and 2028. The growth of the mycelium market is anticipated to be fueled by the rising need for sustainable materials and their role in promoting a circular economy. 
The mycelium market in the Asia-Pacific (APAC) region is currently in its early stages but shows immense potential for growth. Research and development activities are on the rise, driven by the increasing demand for mycelium-based products, particularly in response to changing consumer preferences favoring plant-based and vegan options. One significant opportunity in the APAC mycelium market lies in the escalating investments in research and development, aimed at harnessing the full potential of mycelium.
Mycelium exhibits versatile properties that can be customized to suit various applications, making it increasingly appealing to consumers across industries such as pharmaceuticals, construction, electronics, and skincare. As the region embraces sustainable and eco-friendly alternatives, the APAC mycelium market is poised for expansion, offering innovative solutions that align with the growing emphasis on sustainability and circular economy practices.
Market Segmentation:
Segmentation by Application
- Food and Beverage Industry
- Packaging Industry
- Textile Industry
- Others
Segmentation by Nature
- Raw
- Processed
Segmentation by Form
- Pre-Formed Product
- Powder
- Liquid Culture
- Tablet and Capsule
Segmentation by Country
- India
- Japan
- South Korea
- Australia and New Zealand
- Rest-of-Asia-Pacific
Key Market Dynamics
Trends
- Boosts Circular Economy
- Mycelium-Based Organo-Electronics
- Growing Utilization of Bio-Fabrication Technique
Drivers
- Increasing Innovation in Sustainable and Eco-Friendly Products
- Shift in Consumer Behavior and Preference
- Advancements in Research and Technology
Challenges
- Challenge of Scalability and Commercialization
- Transition from Conventional Materials
Opportunities
- Increasing Research and Development Investments in the Mycelium Sector
- Emerging Multi-Directional Applications of Mycelium
- Adoption of Mycelium in the Pharmaceutical and Skin Care Industry
- Adoption of Mycelium to Manufacture Biodegradable Materials
- Adoption of Mycelium in the Textile and Fashion Industry
- Adoption of Mycelium to Produce Sustainable Packaging
- Adoption of Mycelium to Manufacture Construction Materials
- Modifiable Material Characteristics of Mycelium
Case Studies
- Bosque Foods in Food and Beverage Industry
- Ecovative LLC in Packaging Industry
- MycoWorks in Textile Industry
How can this report add value?
Product/Innovation Strategy: The product segment helps the reader understand the different types of mycelium products available for deployment in food and beverage, clothing, packaging, and other industries and their potential. Moreover, the study provides the reader with a detailed understanding of the different mycelium-based products by application (food and beverage, packaging, textile, and others), nature (raw and processed), and form (pre-formed product, powder, liquid culture, and tablet and capsule). Mycelium-based finished products generate higher revenues when compared to operational and raw material costs. Therefore, the mycelium business is a low-investment and high-revenue generating agricultural model.
Growth/Marketing Strategy: The APAC mycelium market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. The favored strategy for the companies has been product launches to strengthen their position in the mycelium market.
Competitive Strategy: Key players in the APAC mycelium market analyzed and profiled in the study involve mycelium-based product manufacturers that provide raw or processed products. Moreover, a detailed competitive benchmarking of the players operating in the APAC mycelium market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 123 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $300 Million |
| Forecasted Market Value (USD) by 2028 | $500.1 Million |
| Compound Annual Growth Rate | 10.7% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
Executive Summary
1 Markets
1.1 Industry Outlook
1.1.1 Market Definition
1.1.2 Trends
1.1.2.1 Boosts Circular Economy
1.1.2.2 Mycelium-Based Organo-Electronics
1.1.2.3 Growing Utilization of Bio-Fabrication Technique
1.1.3 Ecosystem/Ongoing Programs
1.1.3.1 Regulatory Landscape
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Increasing Innovation in Sustainable and Eco-Friendly Products
1.2.1.2 Shift in Consumer Behavior and Preference
1.2.1.3 Advancements in Research and Technology
1.2.2 Business Challenges
1.2.2.1 Challenge of Scalability and Commercialization
1.2.2.2 Transition from Conventional Materials
1.2.3 Market Strategies and Developments
1.2.4 Corporate Strategies
1.2.5 Business Opportunities
1.2.5.1 Increasing Research and Development Investments in the Mycelium Sector
1.2.5.2 Emerging Multi-Directional Applications of Mycelium
1.2.5.2.1 Adoption of Mycelium in the Pharmaceutical and Skin Care Industry
1.2.5.2.2 Adoption of Mycelium to Manufacture Biodegradable Materials
1.2.5.2.3 Adoption of Mycelium in the Textile and Fashion Industry
1.2.5.2.4 Adoption of Mycelium to Produce Sustainable Packaging
1.2.5.2.5 Adoption of Mycelium to Manufacture Construction Materials
1.2.5.3 Modifiable Material Characteristics of Mycelium
1.2.6 Case Study
1.3 Investment Landscape
2 Regions
2.1 Mycelium Outlook
2.1.1 Mushroom Production
2.1.2 Polystyrene Ban by Countries
2.2 China
2.2.1 Market
2.2.2 Application
2.2.3 Product
2.3 Asia-Pacific
2.3.1 Market
2.3.2 Application
2.3.3 Product
2.3.4 Country
2.3.4.1 Asia-Pacific Mycelium Market (by Country), $Million, 2022-2028
2.3.4.2 Asia-Pacific Mycelium Market (by Country), Thousand Kilogram, 2022-2028
2.3.4.3 Japan
2.3.4.4 Australia and New Zealand
2.3.4.5 India
2.3.4.6 South Korea
2.3.4.7.1 Market
3 Markets - Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.2 Market Share Analysis
3.2.1 Market Share Analysis for Mycelium Market
3.3 Company Profiles
3.3.1 Packaging Industry
3.3.1.1 Mycotech Lab
3.3.1.1.1 Company Overview
3.3.1.1.1.1 Role of Mycotech Lab in the Mycelium Market
3.3.1.1.1.2 Product Portfolio
3.3.1.1.2 Customer Profile
3.3.1.1.3 Business Strategies
3.3.1.1.4 Business Model
3.3.1.1.5 Analyst View
For more information about this report visit https://www.researchandmarkets.com/r/gkgxa3
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