The global mushroom market size is projected to hit USD 32.04 million tonnes in 2032 and exhibit a CAGR of 7.18% during the forecast period. Fortune Business InsightsTM has presented this information in its report titled, “Mushroom Market, 2024-2032”. The market size stood at USD 17.25 million tonnes in 2023 and USD 18.39 million tonnes in 2024. Additionally, the soaring investment to automate its production is likely to be a key trend fueling the market growth.
Over the course of the forecast period, the growing vegan population's demand for a diet high in protein is anticipated to be a major driving force in the market. Because of their high nutritional value, mushrooms are regarded as a superfood. Four essential nutrients—selenium, vitamin D, glutathione, and ergothioneine—are abundant in mushrooms. These nutrients aid in the reduction of oxidative stress and the prevention or mitigation of chronic illnesses like dementia, cancer, and heart disease. Additionally, because of its potent naturally occurring umami flavor, customers can cut the amount of salt in their meals by 30–40%, which is good for their health.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/mushroom-market-100197
Segments-
On the basis of type, the market is categorized into oyster, shiitake, button, and others. On the basis of form, the market is segmented into canned, frozen, fresh, and dried. Geographically, the market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage-
- It assimilates the latest market trends influencing the market’s growth.
- It assesses various growth drivers and restraints of the market.
- It includes a comprehensive assessment of the COVID-19 pandemic’s impact on the market.
- It suggests innovative strategies to attain growth in the coming years.
- It highlights the latest industry developments.
Drivers & Restraints-
Growing Health Consciousness to Boost Nutritional Food Consumption and Propel Market Growth
The growing health consciousness amongst the ever-increasing population is anticipated to boost the consumption of foods with low cholesterol and fat contents. Mushrooms are widely consumed by restaurants, hotels, cafeterias, and households. They are rich in fiber and contain digestive enzymes that promote immunity and gut health. These nutritional attributes are expected to boost their consumption and bolster the global mushroom market growth.
The increasing investments in research and development activities to enhance commercial cultivation is expected to create lucrative growth opportunities for the market. The rising international trade and cultivation of exotic varieties are likely to stimulate growth for the market.
Additionally, the production process is labor-intensive and accounts for almost a third of the overall production costs. This has enabled manufacturers to automate their production processes using robotics and hi-tech control systems. The escalating investments to automate the production is likely to fuel market growth in the coming years.
However, high operational costs may restrain the growth of the market.
Regional Insights-
Asia Pacific to Lead the Market Share due to High Product Consumption
Asia Pacific is estimated to acquire the largest mushroom market share during the forecast period. China is the largest edible fungus producer in the world. The increasing product consumption in India, Japan, and others, coupled with the rising adoption of modern production methods, is predicted to flourish in growth for the market.
Europe is predicted to gain prominent growth in the global market. The high demand for the product for medicinal purposes in Spain, the Netherlands, and the U.K. is projected to favor the market growth. Moreover, the rising adoption of automation and modern production methods is anticipated to fuel the growth in Europe.
North America is projected to gain lucrative growth during the forecast period. Major market players' adoption of modern production methods and favorable government initiatives are expected to boost the market growth in North America.
South America is anticipated to gain significant growth due to rising processed food consumption and growing vegan lifestyle adoption.
Competitive Landscape-
Major Players Emphasize Mergers & Acquisitions to Amplify International Presence
The mushroom market comprises major industry players that emphasize mergers and acquisitions to amplify their international presence. They focus on extensive research and development activities for product innovation. For instance, in July 2020, Leap Foods launched its new mushroom blended burgers and sausages.
Key Industry Development-
- March 2021: New Wave Holdings Corp., an investment issuer focused on the nutraceutical sector, announced the launch of its first functional mushroom products under the Way of Will brand. The company released the functional capsules and powder to the U.S. market.
List of Key Market Players-
- Weikfield Foods Pvt. Ltd. (Maharashtra, India)
- BioFungi GmbH (Bavaria, Germany)
- Monaghan Mushrooms (Monaghan, Ireland)
- Highline Mushrooms (Ontario, Canada)
- Scelta Mushrooms BV (Limburg, Netherlands)
- Monterey Mushrooms, Inc. (California, U.S.)
- Nasza Chata (Czaniec, Poland)
- Banken Champignons B.V. (Wijchen, Netherlands)
- Bonduelle S.A. (Villeneuve d’Ascq, France)
- Ecolink Baltic (Varena, Lithuania)
