While sales of meat alternatives fell by 7% in the US in 2024, MyForest Foods’s clean-label mycelium bacon grew fourfold, both in terms of sales and retail presence.
The conversation around vegan meat products revolves more around ultra-processing and meme stocks than their food tech breakthroughs or health and environmental benefits.
And when you track the sales of these products, it’s clear there’s a cause-and-effect relationship. In the US, consumer purchases of plant-based meat declined by 7% in 2024; their price tags inflated by 4%.
People are instead flocking to products with short ingredient lists and minimal processing. Many brands are losing out as the pace of innovation slows – but some are emerging victorious.
MyForest Foods, the food-focused arm of New York-based mycelium company Ecovative, is one of them. The company has made its name on its flagship MyBacon product, which is the fastest-selling vegan bacon in the natural channel, according to SPINS data. In fact, its unit sales per week are about 300% faster than the category average.
These results made 2024 – in Ecovative founder and CEO Eben Bayer’s words – a “breakout year for MyForest Foods”, when retail expansion and repeat customer purchases propelled MyForest Foods’s year-on-year growth by 300%.
“Our biggest focus in 2024 and into 2025 was becoming direct margin positive, which we achieved this past quarter, while also posting 40% quarterly growth for the past four quarters,” he tells Green Queen.
Now, the company has introduced a pulled pork product using its whole-cut mycelium platform and expanded its partnership with Whole Foods Market. Both MyBacon and MyPulledPork have been rolled out into 520 of its stores nationwide.
“We expect to cross double-digit millions in 2026 and are on track to be EBITDA-positive in the first half of 2027,” says Bayer. “We’re producing more, shipping more, and seeing steady velocity across every region.”
How MyForest Foods uses mycelium to make bacon and pulled pork
MyForest Foods produces mycelium using its proprietary AirMycelium tech, which grows mushrooms on an industrial scale in vertical farms. “We have our own farm at our headquarters and work directly with mushroom farmers, converting traditional white and brown button mushroom farms to grow thick, fibrous oyster mushroom mycelium slabs that develop in just 12 days,” explains Bayer.
“The process starts with wood chips and seed hulls – natural byproducts from other industries – which we blend into a nutrient-rich growing base, known in mushroom farming as substrate. We then add oyster mushroom spawn, close the farm door and allow it to grow under our controlled environmental conditions, where we tune the moisture and airflow,” he adds.
Over the 12 days, the mycelium forms a dense yet tender and fibrous structure that “cooks, chews and satisfies just like pork”. “From there, we slice and season it to create the smoky, savoury flavour profiles people love, whether that’s bacon or pulled pork,” Bayer says.
Its products pair mycelium with coconut oil, sugar, natural flavouring, and salt. “What sets MyForest Foods apart is how naturally our products form; we aren’t made in a lab and don’t use binders, extruders, or complex processing. It’s food that’s simply grown and simply seasoned, straight from the farm.”
MyForest Foods has managed to scale production 15-fold year-over-year, aided by an $11M funding round for Ecovative in March. It was then that Bayer teased a shredded mycelium product, which has now resulted in MyPulled Pork. The idea came from the brand’s sales team, which noticed a gap in the market for this product. It was also a dish its R&D team was already developing internally.
“To grow it, we take the same delicious organic oyster mushroom mycelium we use for MyBacon, shred those cuts, give them a double brine, and package them as MyPulledPork,” he says. “One of the reasons folks love this is it’s so easy to cook and prepare; a tender, flavourful, centre-of-the-plate product that is ready in only eight minutes, [and] can take on any flavour.”
MyForest Foods goes on tour amid retail expansion
In the last 12 months, MyForest Foods has more than quadrupled its retail footprint. Its products are now available in over 2,500 stores in all 50 states, spanning both natural and conventional grocery channels.
“Recent additions include Hannaford, Schnucks, Price Chopper, Giant, and Natural Grocers, with new retailers joining every month,” says Bayer. “2,500 locations are just the beginning – we’re only getting started and expect even stronger growth in 2026.”
Though grocery remains its primary focus, the brand has entered foodservice this year, and received a FABI award at the National Restaurant Association Show, which will help build momentum in this channel.
Now, MyForest Foods is taking its products on the road, tailgating in Arizona, Florida, Georgia and Texas next month. “The tasting tour is about creating that first-bite moment,” said Bayer. “It’s a chance for people to experience, not just hear about, what makes MyForest Foods’s products different, through flavour, texture, and a simple, satisfying eating experience.”
He adds: “Many of these are new markets for us, or we had only one or two independents carrying MyBacon or MyPulledPork, including Arizona. The tour is an opportunity to introduce these products, where they haven’t been as available as they were in New England or California.”
New product formats in the works, including beef and chicken
Bayer ascribes MyBacon’s success to the fact that it “cooks, sizzles, and smells” like pork, is made with nearly 100% organic ingredients, mainly farm-fresh gourmet oyster mushroom mycelium. It’s the “kind of food they want to eat and share” at a time when ultra-processed meat alternatives are losing favour fast.
Interestingly, the mycelium bacon only contains 1.5g of protein per cooked slice, about half as much as its conventional counterpart. Given today’s protein-hungry landscape, that would seem like a problem. However, the company’s revenue figures tell a different story.
Bayer has a simple solution for those looking to pack more protein: simply eat more of his product. “If you’re chasing a protein goal, just double your serving. You’ll hit your protein and fibre targets while getting a treat that feels indulgent and tastes incredible,” he says.
“MyBacon isn’t meant to be a centre-of-plate meal, but we definitely have customers who eat a whole pack in one sitting and email us to tell us how much they love it,” he adds. “For something heartier, MyPulledPork offers 9g of protein and 6g of fibre per serving with more ounces in a pack, making it a great fit for family dinners or post-gym recovery.”
Future products could fulfil this need. “Our R&D team is developing new whole-cut formats. We’re experimenting with beef and chicken alternatives, as well as new flavour profiles for MyBacon,” he says. “The goal for a new product is always the same: keep it simple, keep it delicious, and let mushroom mycelium do the heavy lifting.”
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