The global mushroom market size is expected to be worth around US$ 100.20 billion by 2030, according to a new report by Vision Research Reports.
The global mushroom market size was valued at US$ 48.1 billion in 2020 and is anticipated to grow at a CAGR of 11.5% during forecast period 2021 to 2030.
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Mushroom Market (By Product: Button, Shiitake, Oyster, Matsutake, Truffles, other; By Form : Fresh, Processed; By Distribution Channel: Direct to Customer, Grocery Stores, Supermarkets & Hypermarkets, Convenience Stores, Online Stores; By Application: Food, Pharmaceutical, Cosmetics) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
|Market Size||USD 100.20 billion by 2030|
|Growth Rate||CAGR of 11.5% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Form, Distribution Channel, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Bonduelle Group; Costa Group; Greenyard; Monaghan Group; OKECHAMP S.A.; Shanghai Fengke Biological Technology Co., Ltd.|
The increasing popularity of vegan diets across developed economies on account of growing environmental concerns and consumer awareness regarding animal welfare is likely to have a positive impact on the industry growth.
Rising consumer preferences for natural ingredient-based food and cosmetic products owing to the growing awareness regarding the side effects of synthetic products are expected to drive demand for mushrooms. Furthermore, mushrooms are rich sources of vitamins, antioxidants, essential oils, proteins, and other bioactive compounds, which lead to its increasing demand in pharmaceutical applications.
By Product Analysis
Button product type was the highest segment with a volume share of 62.8% in 2020. It is expected to register a steady CAGR over the forecast period. They are widely cultivated across the world due to their nutritional benefits and lower incubation time taken by their spores. Furthermore, their lower cost as compared to their counterparts is expected to drive the segment over the forecast period.
the oyster type segment is expected to witness the largest CAGR of 12.2% over the forecast period. Oyster product types are popular in Chinese, Japanese, and Korean cooking due to their delicate texture and mild-savory flavor.
By Form Analysis
The fresh form segment accounted the market with a revenue share of 90.6% in 2020 due to the high demand for fresh mushrooms as a result of increased preference for organic and unprocessed foods. The distribution of fresh products is challenging for the manufacturers or distributors due to their limited shelf life.
the processed form is expected to witness the largest CAGR of 10% from 2021 to 2030. Processed types include dried, frozen, canned, pickled, and powdered forms. Additional processing, such as canning, freezing, or drying, is essential to extend the shelf life of the product.
By Distribution Channel Analysis
The supermarkets & hypermarkets segment dominated for the highest revenue share of over 40% in 2020 as mushrooms are majorly distributed through these distribution channels. In developed regions, such as Europe and North America, the penetration of supermarkets and hypermarkets is higher than that in the developing regions.
Grocery stores offer a broad range of processed products as compared to convenience stores with better discounts owing to their high-volume procurement than the latter. The limited space in most cities favors the establishment of grocery stores in place of supermarkets & hypermarkets.
By Application Analysis
The food application segment dominated for the largest revenue share of over 89% in the year 2020. This application considers the utilization of fresh and processed forms by the household as well as food service providers. Growing product popularity among health-conscious consumers and fitness enthusiasts is driving the segment growth.
Consumers are opting for healthier beverage and food products that are infused with nutrients extracted from clean or natural sources. To capitalize on this trend, food & beverage companies are launching mushroom-based food & beverages.
Mushrooms are rich sources of various bioactive compounds, such as polysaccharides, triterpenes, polyphenols, proteins, amino acids, and organic germanium. Mushrooms are rich in several key compounds, such as phenolics, polyphenolics, terpenoids, selenium, polysaccharides, and vitamins, which show excellent antioxidant, anti-aging, anti-wrinkle, skin whitening, and moisturizing effects.
By Regional Analysis
Asia Pacific led the market and dominated for over 79% share of global revenue in 2020. China, Japan, Malaysia, India, and Australia make some of the largest markets in the region. China led the market in 2020, in terms of production, with more than 78% contribution and per capita annual consumption of up to 10 kg.
Europe is one of the key consumers in the market and relies majorly on imports. Higher per capita income in the developed markets of the region is expected to create growth opportunities for exotic mushrooms like gourmet products.
The local demand from hotels, restaurants, and food chains was largely affected due to the lockdowns imposed in the region. North America holds a significant share in the market owing to higher market penetration in developed economies, such as the U.S. and Canada.
- Bonduelle Group
- Costa Group
- Monaghan Group
- OKECHAMP S.A
- Shanghai Fengke Biological Technology Co., Ltd.
- Distribution Channel
- Direct to Customer
- Grocery Stores
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Stores
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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