Biomaterials - Mycelium

Mycelium is on the move. In a big way. Numerous market growth forecasts have valuations around US$5 ~ $6 billion by 2030. Although most of the growth is expected in the EU and USA, Asia is slowly catching up. According to the company ResearchAndMarkets, 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 revolution is more than just sustainable materials; it is now part of the plant-based food fare. In a recent publication, researchers stated, "Mycelium, the vegetative growth form of filamentous fungi, may represent a convergence of several features crucial for developing food products that are nutritious, desirable, scalable, affordable, and environmentally sustainable. Mycelium has gained interest as technology advances demonstrate its ability to provide scalable biomass for food production, delivering good flavour and quality protein, fibre, and essential micronutrients urgently needed to improve public health."

Mycelium is also being used in various other applications, such as coffins, textiles for shoes and clothes, packaging, furniture, building materials, insulation, surfboards and possibly in electronic products such as circuit boards and batteries.

But Is It Circular?

As exciting as all these new bio-based materials and plant-based ingredients are, is it the circular economy? Mycelium products have several advantages such as resource-saving, low-energy and low-carbon; the products are also degradable or compostable after processing. Despite the advantageous properties of mycelium-based materials, challenges remain, such as access to and logistics of biogenic residual and waste materials and the establishment of industrialized processes. A challenge also remains to achieve consistent product quality. This applies, of course, during the upscaling process, but especially when regionally and seasonally different residual materials are used.

Establishing a system for new materials to add real value to society takes a combination of committed stakeholders over a long period of time. It is not just a matter of government regulation but also a range of other push/pull factors that, eventually, lead to behaviour change for consumers and businesses. The circular economy is not just about new business models or product-life extension. As we are finding out, it is complex and, for many, confusing. It is hard to let go of our linear ways.

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Ms Adrienna Zsakay is the Founder and CEO of Circular Economy Asia Inc, and this article represents her opinions on the circular economy. Circular Economy Pick of the Week is brought to you by Circular World™ Media - a brand owned by Circular Economy Asia Inc.

References

'Asia-Pacific Mycelium Market Analysis And Forecast, 2023-2028 - Market Projected To Surge At 10.76% CAGR' published by MENAFM, 20 February 2024.

'Mycelium: A Nutrient-Dense Food To Help Address World Hunger, Promote Health, and Support a Regenerative Food System' by Roberta R. Holt, John P. Munafo Jr, Julie Salmen, Carl L. Keen, Behroze S. Mistry, Justin M. Whiteley and  Harold H. Schmitz, published in Journal of Agricultural and Food Chemistry, December 2023.

'7 Different Products That Are Made with Mushroom Mycelium' published by www.incrediblemushrooms.com

'Electronic Circuit's New Ingredient: Mushroom as a Potential Substrate!' published by Mitai, 23 August 2023.

'Sustainable Materials from Mushroom Mycelium' published by Bayern Innovativ

Department of Statistics, Singapore - Households, 2023