The global mushroom market reached 17.25 million tonnes in 2023 and is projected to grow from 18.39 million tonnes in 2024 to 32.04 million tonnes by 2032, representing a compound annual growth rate (CAGR) of 7.18% during the forecast period (2024–2032). In 2023, the Asia Pacific region held a dominant position with a 79.83% market share. The U.S. mushroom market is also expected to witness notable expansion, with projections estimating it will reach 1.22 million tonnes by 2032. This anticipated growth is supported by increased investments from domestic growers in advanced cultivation technologies and rising merger and acquisition activity by global companies aiming to enhance their presence in the U.S.
Mushrooms, though commonly grouped with vegetables, are actually edible fungi and not classified as plants. They offer an array of health-supporting nutrients, including riboflavin, potassium, vitamin D, selenium, and others. Research from clinical and preclinical studies highlights their role in promoting immune function, aiding in weight management, and supporting general wellness. Moreover, mushroom consumption has been associated with a reduced risk of certain illnesses, such as prostate and breast cancers, contributing to increased demand and market growth.
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Market Segmentation
The mushroom market is segmented by type into button, shiitake, oyster, and others. By form, it includes fresh, canned, frozen, and dried categories. Regionally, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage
- Analysis of current market trends influencing growth
- Evaluation of key growth drivers and challenges
- Overview of COVID-19’s market impact
- Strategic insights for future market expansion
- Highlights of recent industry advancements
Drivers & Restraints
Rising Health Consciousness to Boost Demand for Nutritional Foods
Growing public focus on health and nutrition is expected to increase demand for low-fat, cholesterol-free food options, supporting higher mushroom consumption. Their use is prevalent in homes, restaurants, hotels, and cafeterias, thanks to their fiber content and digestive enzymes that benefit gut health and immunity. These attributes are expected to sustain consumption and contribute to global market growth.
Increasing research and development in commercial mushroom cultivation is anticipated to create new opportunities for expansion. Growth in global trade and the farming of exotic mushroom varieties are also likely to further drive market development.
Since mushroom cultivation is labor-intensive, with production expenses accounting for nearly a third of total costs, manufacturers are turning to automation, robotics, and advanced control systems to improve efficiency. Investment in automated production techniques is expected to further fuel growth.
Nonetheless, high operating costs may pose limitations and hinder broader market growth.
Regional Insights
Asia Pacific to Retain Leading Position Due to Elevated Consumption Levels
Asia Pacific is projected to maintain the largest share of the mushroom market throughout the forecast period, with China at the forefront of global production. Increasing demand in countries such as India and Japan, along with the use of innovative cultivation methods, is expected to support regional market expansion.
Europe is also set for considerable growth, particularly with strong demand for medicinal mushrooms in countries like Spain, the Netherlands, and the U.K. Adoption of modern production and automation technologies is expected to strengthen the region’s market position.
In North America, growth is anticipated due to investments by leading players in advanced cultivation systems and supportive policy initiatives.
South America is projected to achieve significant growth, driven by higher demand for processed food and the rising popularity of plant-based eating patterns.
Competitive Landscape
Market Leaders Pursue Mergers & Acquisitions to Expand Global Reach
Prominent players in the mushroom market are focusing on mergers and acquisitions to bolster their global operations. Innovation through research and development continues to be a major area of focus. For example, in July 2020, Leap Foods launched a new series of mushroom-based burgers and sausages.
List of Key Market Players
- Weikfield Foods Pvt. Ltd. (India)
- BioFungi GmbH (Germany)
- Monaghan Mushrooms (Ireland)
- Highline Mushrooms (Canada)
- Scelta Mushrooms BV (Netherlands)
- Monterey Mushrooms, Inc. (U.S.)
- Nasza Chata (Poland)
- Banken Champignons B.V. (Netherlands)
- Bonduelle S.A. (France)
- Ecolink Baltic (Lithuania)
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Key Industry Developments
March 2021: New Wave Holdings Corp., a nutraceutical-focused investment company, launched its first line of functional mushroom products under the Way of Will brand. The new offerings, including capsules and powders, were introduced to the U.S. market.
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