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The Mushroom Market size is forecast to reach $49.7 Billion by 2025, growing at a CAGR of 9.7% during the forecast period 2020-2025. Mushroom or toadstool are edible fungi (Agaricomycetes, Ascomycota) that are considered as vegetables, but technically, they are not plants. Mushrooms are rich in riboflavin, potassium, vitamin D, selenium, and other ingredients that are beneficial for human health. Mushrooms have a very short life span, some of the mushrooms might last less than a day, and some survive for a week and few likely to survive for a month. With the expansion of the global mushroom industry, the commercial production and distribution of mushrooms have improved significantly. Positive trade scenario for mushroom, coupled with the initiation of cultivation of a number of mushroom varieties across the major mushroom producing countries/regions, is poised to fuel the growth of the mushroom market.
By Type – Segment Analysis
Based on the type, the Global Mushroom market has Button Mushroom, Shiitake Mushroom, Oyster Mushroom, and others. The button mushroom accounted for highest revenue share in the year 2019 and is set to continue during the forecast period (2020-2025). The button mushroom is the widely consumed mushroom type across the world and potentially offer a number of health benefits. Increase in R&D on white button mushroom to find out about its potential in preventing cancer, along with its availability at affordable prices as compared to specialty mushroom varieties is set to escalate the demand for button mushrooms during the forecast period 2020-2025. Shiitake Mushroom is set to be the fastest growing with a CAGR of 7.3% during the forecast period 2020-2025. This is owing to the consumption of Shiitake in Southeast Asian and European countries.
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By Form – Segment Analysis
Based on the form, the global Mushroom market has Fresh Mushroom, and Processed Mushroom. Processed Mushroom has sub-segments like, Frozen Mushroom, Dried Mushroom, Canned Mushroom, and others. Fresh mushroom accounted for the highest revenue in the year 2019 and is set to continue for the forecast period 2020-2025 owing to the demand for fresh mushroom, which is increasing across the globe, especially across U.S. and other developed economies, owing to the growing demand for healthier food products with no preservatives. The U.S. is one of the largest producers of fresh mushrooms.
By Geography – Segment Analysis
The global Mushroom Market by geography has the dominant share in Asia Pacific with overall share of 39.3% in 2019. This is owing to the per capita consumption of mushroom in China, country from Asia pacific, is higher than any other country. The consumption of mushroom in Asian countries such as Japan, India, and others is increasing at a significant pace attributed by increasing production along with the increased import of mushrooms in these countries. Adoption of advanced and modern mushroom cultivation techniques by mushroom farmers of the region is set to fuel the mushroom market of the region in the forthcoming years. Europe is set to be the fastest growing region during the forecast period 2020-2025 owing to increasing demand for nutrition-rich food in the region. In countries such as the U.K., Netherlands, Germany, Spain, and others, the demand for mushroom for medicinal purposes is witnessing decent growth and the trend is poised to continue during the upcoming years. Utilization of advanced mushroom processing techniques by mushroom producers and distributors in Europe is set to contribute to the growth of the processed mushroom sales across the region.
Drivers – Mushroom Market
Improvements in Technology
Government and international agencies are continuously investing on R & D, for improving the mushroom quality and increase the shelf life. Biotechnology, which is essential for breeding is undergoing many advancements, which is set to drive the mushroom market during the forecast period 2020-2025. Adoption of the advanced pest management system across many fields result in higher mushroom yields, which is set to ultimately aid the market growth of mushrooms.
Rising Health Awareness
Change in the food habit along with growing awareness regarding healthy diet is set to drive in the demand of mushroom market. The mushrooms contain less fat and cholesterol, and are rich in nutrients such as vitamins and minerals .This is set to drive the market growth of mushroom during the forecast period 2020-2025.
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Challenges – Mushroom Market
The mushrooms are very delicate owing to its short lifespan, which is very less ranging from as less as 1 week to 1 day. This, limited shelf life of mushroom is a challenge to look after which acts as a challenge for the growth of mushroom market.
Mushroom Industry outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Mushroom Market. Key companies of this market are Monaghan Mushrooms, Giorgio Fresh Co., Okechamp SA, Scelta Mushrooms, Greenyard, CMP Mushrooms, Costa Group, Gourmet Mushrooms, Inc, Monterey Mushrooms, Inc., and The Mushroom Company.
In August 2019, High line mushrooms, announced an investment of USD 20 million in the establishment of a second cross-field mushroom.
In March 2018, High line mushrooms, a leading mushroom company of Canada has purchased Prairie mushrooms, a leading coast to coast mushroom grower-shipper in Canada.
In 2018, Scelta Mushrooms opens four new factories to match growing market demand for frozen and dried mushrooms.
In 2017: The Belgian Greenyard Foods acquired Mykogen Polska S.A., a leading Polish manufacturer of top quality mushroom substrate.
In 2016: Greenyard Foods, has acquired Lutece, a maker of canned mushroom products, from the Netherlands co-operative CNC.
The Asia Pacific is the Leading Region in the Global Market in terms of market share in 2019, and Europe Market is poised to Witness Fastest Growth.
Increasing awareness among the people about the benefits of mushrooms, and investment by firms to fill the demand of customers with smart packaging, is set to increase shell life is driving the growth of the global mushroom market.
With Increase in urbanization and adoption of westernization, several multinational cuisines and flavors of mushroom, are provided to attract the consumers, thus generating substantial demand for mushroom and mushroom-based products.
Related Reports :
A. Mushroom Protein Market
B. Functional Mushroom Market
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