Mushroom Market to Grow at 9.6% CAGR, Asia Pacific Leads with Button Mushrooms and Food Applications

Mushroom Market To Print New Growth Story; USD 115.30 Billion By 2030

The global Mushroom Market Size is delineated to reach USD 115.30 billion by 2030, progressing at a compound annual growth rate (CAGR) of 9.6% during the forecast period of 2024 to 2030, from USD 60.69 billion in 2023. The increased demand for healthy and nutritious foodstuff, growing plant-based food trend, and expansion of mushroom usage in food and medicines are major factors driving the revenue growth of the global market.

Growth Opportunities and Market Drivers

Mushrooms provide a good source of vitamin D, riboflavin, potassium, and selenium, among other nutrients, and are popular in both culturally specific dishes and as health foods. Interest from consumers is driven by their role in supporting the immune system, maintaining weight and decreasing the risk of chronic diseases such as prostate and breast cancer. Moreover, the growing awareness about the health benefits of mushrooms will also lead to an increase in their consumption in a wide range of populations, thereby further contributing to the growth of the mushroom market.

Among them, one of the most remarkable market opportunities is the growing popularity of plant-based foods as meat substitutes. With their umami flavor and nutritional profile, they also lend themselves well as a meat alternative, especially for vegans and vegetarians. Similarly, the deep, umami flavor of mushrooms can decrease the need for fats and calories in entrees while enhancing the nutrient density of the meals. The increasing global population of vegans is likely to fuel more growth in demand for meat alternatives, and mushrooms fit the bill perfectly.

In addition, the use of mushrooms is being further driven by its application in a variety of processed food products like soups, sauces, smoothies, and dietary supplements. Furthermore, advancements in technology for cultivation and automation are making cultivation more cost and time effective, as well as ensuring higher production per farm, further supporting the growth of the market.

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Segmentation Analysis

The mushroom market by type, by form, and by distribution channel and others contribute separately to the mushroom market landscape.

Based on Type: The mushroom market is divided into button mushrooms, shiitake mushrooms, oyster mushrooms, and others. In 2023, the button mushroom segment was leading segment with market share of 61.8%. The widespread popularity can be attributed to the button mushroom being edible, high in antioxidant, and requiring a shorter incubation period, making it cheaper and easy to grow. By type, shiitake mushrooms are projected to be the fastest growing segment at a highest CAGR of 7.3% throughout the forecast period, thanks to unique aroma and flavor as well as health benefits, especially in fresh & dried varieties. Savoury tasting and touted for their health benefits, shiitake mushrooms are also in high demand on global markets.

Based on Form Type: The market is further segmented into fresh and processed mushrooms. For 2023, small size is its account in 89.7% market share. Fresh mushrooms have always been preferred, partly due to their nutritional content and increasing consumer demand for organic, minimally processed foods. Nonetheless, the segment of processed mushroom should probably clock high growth on the back of advent of packaging technologies such as modified atmosphere packaging that aid in boosting shelf life of fresh mushroom and thus making distribution easier.

By Distribution Channel: Based on the distribution channel, the supermarkets and hypermarkets have an important share of the market. The share of these channels in the global mushroom market was equal to 38.3% in 2023. Mushroom penetration in supermarkets is relatively stronger in developed regions per the region 3 where consumers have better access to its varieties such as mushrooms in country. These large retail chains are expected to maintain their dominance in the market due to their convenience in purchasing fresh and processed mushrooms.

Country-Level Analysis

USA: The USA has one of the highest mushroom consumption in the world due to the increasing demand of the organic and healthy food. As plant-based diets are on the rise, mushroom consumption increases as a substitute for meat. Furthermore, the rising consumption of functional foods such as dietary supplements, is accelerating market demand of mushroom extract. U.S. mushrooms are still largely distributed through supermarkets and online retail.

Germany: Germany is one of the largest mushroom consumers in Europe and also key players in the global mushroom market. Demand is driven by the rising trend of vegetarian and vegan diets and the increasing recognition of the nutritional value of mushrooms. It has also a high number of supermarket chains and hypermarket chains, which is the main distribution channels for fresh as well as processed mushrooms in the country.

China: The largest country in mushroom production and consumption in the world. Japan is known for its booming mushroom production industry, from shiitake to oyster mushrooms, supplying a good portion of the global supply chain. With health factors and plant-based diets taken into consideration, domestic consumption of mushrooms will keep growing in China. Another essential component of the world mushroom market is the formidable export market of the country.

India: India is seeing a growing market for mushrooms, due to an interest in plant-based diets and the growth of mushrooms being used as a healthy low-fat meat substitute. Khaman is a type of dhokla made using fermented chickpea batter, a popular Indian snack, particularly in vegetarian diet. Moreover, the mushroom market growth is projected with the increasing number of consumers adopting vegetarian and vegan diets, and the rising trend for functional foods and dietary supplements.

Brazil: Brazil has a lot of growth potential given it is aSouth America significant market for mushrooms. Recent years have seen mushroom consumption grow in the country, especially in more cosmopolitan areas of the country, where consumers are more willing to try exotic foods as they look to eat healthier. Demand for plant based diets and meat alternatives will make Brazil mushroom market continue increasing in the next years.

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Competitor Analysis

Mushroom market is competitive, with several key players across the globe. These companies keep on adding products to their range and making use of technology to provide a boost to production and efficiency.

Greenyard NV: One of the biggest growers and processors of mushrooms, Greenyard offers fresh and processed mushrooms, teas and seaweeds only among other products. The company has a strong focus on innovation and sustainability, as well as core markets in Europe and North America. Greenyard is also investing in technology for mushroom growing and distribution efficiency.

Monterey Mushrooms Inc.: Monterey Mushrooms, one of North America's largest mushroom producers, is based in the U.S. It provides fresh mushrooms and a range of processed mushroom items. With a global outreach, Monterey Mushrooms strives to be sustainable while maintaining top-notch production standards.

Okechamp SA: Okechamp is among of the biggest mushroom producers in Poland with high position in Europe. With the rising demand for mushrooms across the country and abroad, the company has been increasing its export market, which focuses on fresh and processed mushrooms. The company ensures sustainability and quality control and these have preserved Okechamp’s position on the market.

Costa Group: Costa Group is a leading Australian-based player in the global mushroom market. The firm cultivates different types of mushrooms and is known for its sustainable farming practices. Investments in automation and innovation in mushroom cultivation have enabled Costa Group to remain competitive.

The Mushroom Company: The Mushroom Company is a large cultivator and distributor of mushrooms within the U.S. It also cultivates several types of mushrooms—most notably button, shiitake, and oyster mushrooms. The Mushroom Company is driven by high-quality, fresh mushrooms, targeting further market share with partnerships and the latest technologies.

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Conclusion

Due to the rising demand for nutritious, plant-based food options, along with an increasing consumption of health supplements and functional food items that use mushrooms as an ingredient, the global mushroom market is growing incessantly. Mushrooms are set to be a staple in both global diets and food systems as consumers move more towards a focus on health and alternative protein sources. The cornucopia of technological advancements in cultivation and distribution of plant-based food production, along with the rising trends in vegan and vegetarian diets, showcases a huge potential opportunity in the upcoming years. Market giants such as market are responding to these trends with innovations, sustainability programs, and expansions, securing their positions in a mushroom market that rapidly approaches $100 billion.

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