Market Synopsis:
Shiitake has gained popularity as a flavor enhancer in different cuisines, especially in East Asian regions. It is likely to gain further traction and witness proliferating applications across many industry verticals. Market Research Future has recently offered a report that reveals that the global shiitake mushroom market is set to mark a CAGR of 15.31% across the assessment period 2017 to 2023. It is also estimated that, by 2023, the valuation of the market is likely to surpass USD 35 Bn.
Shiitake mushroom exhibit medicinal properties such as bone-building, chromosome repair, etc. These key advantages offered by the product are expected to be capitalized on by the players in the pharmaceutical industry, thus, supporting market growth. Similarly, it is also expected to find application in the personal care industry. It is further poised to facilitate the expansion of the shiitake mushroom market over the next couple of years.
Competitive Dashboard:
Bonduelle SA (France), Mitoku Company, Ltd. (Japan), Agro Dutch Industries Ltd. (India), The Mushroom Company (U.S.), Modern Mushroom Farms (U.S.), Hirano Mushroom LLC (Kosovo), Banken Champignons (the Netherlands) are few of the important players of the shiitake mushroom market. These players have been assessed in this MRFR report for presenting an in-depth market share analysis. It has been highlighted that the market represents a plethora of growth opportunities expected to be explored by the key players in the upcoming years. This, in turn, is poised to boost the competition in the shiitake mushroom market over the assessment period. In addition, the investments in the regional expansion are projected to accelerate revenue generation for the industry leaders in the years to come. Other growth plans expected to be witnessed in the market over the next few years are collaborations, product innovation, technological developments, mergers & acquisitions, etc.
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Market Segmentation:
By category, the global shiitake mushroom market has been segmented into fresh, dried and processed. Among these, the fresh shiitake segment is poised to dominate the market over the next couple of years. It is assessed to dictate control over 50% of the market through the forecast period. The increasing demand for fresh shiitake in many cuisines owing to its rich flavor is prognosticated to influence the demand generation in the market in the upcoming years. Asia Pacific is expected to exhibit the most significant share of the total demand followed by North America,
On the basis of application, the segmental analysis of the shiitake mushroom market encompasses pharmaceuticals, food, cosmetics, and others.The food segment is presently at the forefront position of the market. However, during the assessment period, the pharmaceutical segment is anticipated to grow at a substantial pace owing to the rising awareness about the medicinal properties of shiitake.
Based on sales channel, the shiitake mushroom market has been segmented into store-based (wholesaler/ distributor, specialty stores, retail stores, and others) and non-store based. Among these, the store-based segment is expected to lead the expansion of the shiitake mushroom market due to higher levels of networking available. However, the non store-based segment is projected to strike a CAGR of 15.54% across the evaluation period.
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Regional Analysis:
The regional assessment of the global shiitake mushroom market spans across four region -North America, Asia Pacific (APAC), Europe, and the Rest of World (RoW).Asia Pacific is expected to dictate its control over 80% of the market share. Increasing demand for shiitake mushroom in cuisines is likely to play a crucial role in the development of the market in the region over the next couple of years. North America, on the other hand, resonates strong growth opportunities and is assessed to mark a CAGR of 11.05% across the projection period.
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