NEWARK, Del, Oct. 25, 2022 (GLOBE NEWSWIRE) -- NEWARK, Del: The global mushroom materials market is projected to reach a value of US$ 8015.2 Mn by 2032, with sales growing at a moderate CAGR of 5.8% from 2022 to 2032. Predicted to reach an estimated US$ 4,5651 Mn in 2022, the target market will be propelled by several factors including its growing popularity in the furniture industry. Mushroom materials are increasingly common due to their lightweight, easy-to-use, and environmentally-friendly quality. This material is gaining momentum in the furniture industry and has exhibited the potential to yield substantial revenue during the forecast period.
Owing to the escalating demand for sustainability across diverse industries, the mushroom materials market will continue to register greater demand. These materials are swiftly replacing plastic packaging solutions as they are made from biodegradable components and lack any volatile organic compounds. Because of their eco-friendly properties, mushroom materials are in high demand in the transportation industry- a prime contributor to greenhouse gas emissions- as these materials help the industry in reducing their carbon footprints.
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Moreover, mushroom-based construction materials are also expected to contribute to the overall market growth. Construction materials made out of mushroom materials are more durable than concrete and are entirely biodegradable. Mycelium bricks are highly popular in the construction industry for the production of composite boards. These mycelium bricks are bulletproof and absorb carbon dioxide and are bulletproof. Hence, mycelium bricks are an environment-friendly building material, fit for future projects. All of these factors strive to push the mushroom materials market towards growth during the forecast period.
“Extensive use in the furniture industry along with growing demand for sustainable materials will drive the global growth of the mushroom materials market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Rising environmental concerns and the eco-friendliness of mushroom materials will strengthen market prospects.
- High cost of mushroom packaging may stunt the market growth.
- In 2022, the mushroom materials market in North America will account for 29.6% of the market share.
- Asia Pacific’s mushroom material will hold 20% of the overall market share in 2022.
- Widespread awareness of mushroom material benefits will drive market growth in Europe, resulting in the acquisition of 23.5%of market share in 2022.
- By application, the building material segment will likely contribute the most.
Competitive Landscape
Ecovative Design, MycoWorks, Bonduelle Group, Costa Group, CMP Mushroom, Drinkwater Mushrooms, Greenyard, Monaghan Group, Monterey Mushroom Inc., OKECHAMP S.A, Shanghai Fengke Biological Technology Co. Ltd., and others are some of the major players in the mushroom materials market profiled in the full version of the report.
Leading market players are keen on expanding the range of applications of the target product, product development, and launching new products to increase their consumer base. These organizations are adopting tactics like raising investment prospects, partnerships, and collaborations to strengthen their market position.
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More Insights into Mushroom Materials Market Report
In its latest report, FMI offers an unbiased analysis of the global mushroom materials market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of application (mushroom materials for insulating panels, mushroom materials for building materials, mushroom materials for protective packaging, mushroom materials for other applications), feedstock (wood fiber-based mushroom materials, buckwheat-based mushroom materials, cotton seed-based mushroom materials), and region.
According to the latest FMI reports, based on segmentation, the building material subsegment is set up to contribute the most within the application segment. This subsegment is predicted to grow at the fastest rate owing to its biodegradable and environment-friendly properties.
Based on region, the mushroom materials market in North America will exhibit impressive growth during 2022-2032. In 2022, the target market in this region will acquire the highest market share of 29.6% owing to targeted government activities on agricultural growth and innovation. The strong presence of key companies will further aid the mushroom materials market growth during the forecast period. The Asia Pacific and Europe are also expected to present notable growth during the forecast period.
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Key Segments Covered in the Mushroom Materials Industry Analysis
Mushroom Materials Market by Application:
- Mushroom Materials for Insulating Panels
- Mushroom Materials for Building Materials
- Mushroom Materials for Protective Packaging
- Mushroom Materials for Other Applications
Mushroom Materials Market by Feedstock:
- Wood Fiber-based Mushroom Materials
- Buckwheat-based Mushroom Materials
- Cotton Seed-based Mushroom Materials
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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