The global mushroom market revenue was valued at 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, with a CAGR of 7.18% during the forecast period (2024–2032). Asia Pacific led the mushroom market with a share of 79.83% in 2023. Additionally, the U.S. mushroom market is expected to grow significantly, reaching an estimated 1.22 million tonnes by 2032. This growth is driven by increased investments from local growers in advanced cultivation technologies and a rise in merger and acquisition activities by international players seeking to expand their presence in the U.S. market.
Mushrooms, often categorized as vegetables, are technically classified as edible fungi. They are rich in essential nutrients like riboflavin, potassium, vitamin D, and selenium, which contribute to various health benefits. Clinical and preclinical studies have highlighted the role of mushrooms in supporting healthy immunity, weight management, and overall wellness. Additionally, their consumption has been linked to a reduced risk of diseases such as prostate and breast cancer, further boosting their popularity and market demand.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/mushroom-market-100197
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)
Segments
The market is divided based on type into oyster, shiitake, button, and others. By form, it is categorized into canned, frozen, fresh, and dried. Geographically, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage
The report incorporates:
- An analysis of the latest trends shaping market growth.
- A thorough evaluation of key growth drivers and challenges.
- Insights into the impact of the COVID-19 pandemic on market dynamics.
- Strategic recommendations for future growth opportunities.
- Highlights of recent industry developments.
Drivers & Restraints
Rising Health Awareness to Drive Demand for Nutritional Foods
Increasing health consciousness among the growing global population is expected to drive demand for foods with low cholesterol and fat content. Mushrooms, widely consumed in households, restaurants, hotels, and cafeterias, are rich in fiber and digestive enzymes that support immunity and gut health. These nutritional benefits are expected to propel mushroom consumption, fostering market growth.
Investments in research and development to improve commercial cultivation techniques are expected to unlock significant growth opportunities. Additionally, the rising international trade and cultivation of exotic mushroom varieties are anticipated to support market expansion.
Automation in the labor-intensive production process, enabled by robotics and advanced control systems, is further expected to drive growth by reducing operational inefficiencies. However, the high costs associated with production may limit market expansion.
Regional Insights
Asia Pacific Dominates Market Share with High Consumption Rates
Asia Pacific is poised to lead the global mushroom market, with China emerging as the largest producer of edible fungi. Increasing consumption in countries like India and Japan, alongside the adoption of advanced production techniques, is projected to drive regional growth.
Europe is expected to witness significant growth, driven by rising demand for mushrooms for medicinal purposes in countries such as Spain, the Netherlands, and the U.K. Modernized production methods and automation adoption will likely contribute to regional market expansion.
North America is anticipated to register robust growth due to the adoption of modern cultivation practices and supportive government initiatives.
South America is projected to experience substantial growth fueled by increasing processed food consumption and the rising adoption of vegan diets.
Competitive Landscape
Focus on Mergers, Acquisitions, and Innovation
Key players in the mushroom market are leveraging mergers and acquisitions to expand their global footprint. They are also heavily investing in research and development to innovate their product offerings. For instance, in July 2020, Leap Foods introduced a new line of mushroom-blended burgers and sausages, showcasing the growing emphasis on product diversification and consumer health trends.
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Key Industry Development
- March 2021: New Wave Holdings Corp., an investment issuer specializing in the nutraceutical sector, launched its first functional mushroom products under the Way of Will brand. The product line includes functional capsules and powders, introduced to the U.S. market to cater to the growing demand for health-focused, nutraceutical-based solutions.
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