The Global Mushroom Market is expected to reach a market value of US$ 58,109.9 Mn by the end of 2027, with an expected CAGR of 9.1% over the forecast period-MAZZ Home
San Jose, CA â Asia Pacific will continue to record maximum share in the Mushroom Market throughout the period of assessment, as stated by the study and China in the region which has the largest mushroom production and consumption
With reference to the latest market forecast report published by XploreMR, on the title ‘Mushroom Market: Global Industry Analysis and Opportunity Assessment 2019-2027′, revenue generated from the global mushroom market has been estimated to be valued around US$ 30 Bn in 2019, which is projected to increase at a CAGR of over 9%. Toward the end of forecast period, the market is highly likely to near US$ 65 Bn, as indicated by the study.
The growing health and wellness trend among the consumers and rising prevalence of lifestyle-related diseases and other health issues due to improper dietary intake and inadequate nutrition is leading to the escalating demand for mushroom over the forecast years. There are various types of mushrooms available such as button mushroom, shiitake mushroom, oyster mushroom, portobello mushroom, cremini mushroom and others which are widely used in households, food service restaurants, and food processing industry for culinary applications.
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Consumer Preference for Fresh Mushroom Remains Pervasive
On the basis of product type segment, the button mushroom category is anticipated to dominate the product type segment with an expected market share valued at approximately 2/5th of the global market in the year 2019.
The global mushroom market is further segmented based on form into fresh and processed. The market is anticipated to be dominated by fresh mushroom category owing to the inclination of consumers towards fresh food products over processed food available. The fresh mushroom segment is expected to register a significant market share in forthcoming years. The processed segment is further categorized into dried, frozen, and canned.
The mushroom market is also bifurcated based on end use into food processing industries, retail outlets, and food service restaurants. The retail end use segment is anticipated to account for a value share of over 55% in the year 2019.
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Asia’s Appetite for Mushroom Is Growing
With increasing health and wellness consciousness, growing healthy eating trend, and expanding power to spend on premium and specialty food products, North America and Europe are anticipated to be prominent regions in the mushroom market. Besides, strong research and development activity and concentration of big players in these regions are providing strong prospects for the mushroom market.
However, Asia Pacific is expected to register maximum market share for the mushroom over the forecast period attributed to the presence of the largest mushroom consuming and producing country, China. The presence of significant local and regional mushroom growers and producers in China is catering to the surplus demand from the consumers in the region.
According to the study, India is also expected to offer excellent growth opportunity to the mushroom market owing to the increasing per capita disposable income of the consumers, changing eating habits, growing popularity for western and continental cuisines among consumers, and the rising culture of hotels, restaurants, and cafes.
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Mushroom Cultivators Adopting the Consumer-centric Approach
XloreMR has profiled the most prominent Mushrooms companies which are active in the global mushroom market, such as Bonduelle SA, Greenyard NV, Monterey Mushrooms Inc., Okechamp S.A., Costa Group Holdings Ltd., Drinkwater Ltd, Hughes Mushroom, Weikfield Foods Pvt. Ltd., Monaghan Mushrooms Ireland Unlimited Company, Shanghai Finc Bio-Tech Inc., The Mushroom Company, and Commercial Mushroom Producers Ltd.
The manufactures and growers of mushroom are focusing on product innovation and positioning by introducing new packaging formats and preservation techniques so as to provide consumers convenient food options with longer shelf life. Besides, the manufactures are well understanding the nutritional and taste preferences of the consumers, and are offering them the products accordingly.
Moreover, mushroom cultivators are focusing on upscaling their production capacity to cater to increasing demand for mushroom among the health conscious demographics. Ensuring superior product quality and adherence to good manufacturing and ethical distribution practices are attributes followed diligently by mushroom manufacturers for differentiating themselves in the market.
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