The global mushroom market size is projected to reach 32.04 million tonnes by 2032, exhibiting a CAGR of 7.18% during the forecast period. Mushrooms are nutritionally rich, containing selenium, vitamin D, potassium, and other beneficial compounds. The rising health consciousness among the growing population is expected to enhance the consumption of nutritional foods, thereby driving market growth. According to Fortune Business Insights™, the market size was 17.25 million tonnes in 2023 and is anticipated to reach 18.39 million tonnes in 2024.
Additionally, increased investment in automating mushroom production is expected to be a key trend fueling market growth.
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Segments-
On the basis of type, the market is categorized into oyster, shiitake, button, and others. On the basis of form, the market is segmented into canned, frozen, fresh, and dried. Geographically, the market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage-
- It assimilates the latest market trends influencing the market’s growth.
- It assesses various growth drivers and restraints of the market.
- It includes a comprehensive assessment of the COVID-19 pandemic’s impact on the market.
- It suggests innovative strategies to attain growth in the coming years.
- It highlights the latest industry developments.
Drivers & Restraints-
Growing Health Consciousness to Boost Nutritional Food Consumption and Propel Market Growth
Growing health consciousness among the expanding population is expected to drive the consumption of foods with low cholesterol and fat content. Mushrooms, commonly used in restaurants, hotels, cafeterias, and households, are rich in fiber and contain digestive enzymes that promote immunity and gut health. These nutritional benefits are likely to boost mushroom consumption and support global market growth.
Increased investments in research and development aimed at enhancing commercial cultivation are expected to create lucrative opportunities for the market. Additionally, rising international trade and the cultivation of exotic mushroom varieties are anticipated to further stimulate growth.
The production process for mushrooms is labor-intensive, accounting for nearly a third of overall production costs. As a result, manufacturers are investing in automation through robotics and advanced control systems. This growing investment in production automation is expected to drive market growth in the coming years.
However, high operational costs may pose challenges to market expansion.
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Regional Insights-
Asia Pacific to Lead the Market Share due to High Product Consumption
Asia Pacific is expected to hold the largest share of the mushroom market during the forecast period. China, as the world’s leading producer of edible fungi, along with rising consumption in India, Japan, and other countries, is anticipated to drive significant market growth. The adoption of modern production methods is also expected to contribute to this expansion.
Europe is predicted to experience notable growth, fueled by high demand for medicinal mushrooms in countries such as Spain, the Netherlands, and the U.K. The increasing adoption of automation and modern production techniques is likely to further support market expansion in the region.
North America is projected to see substantial growth during the forecast period, driven by the adoption of modern production methods by major market players and favorable government initiatives.
South America is expected to grow significantly due to rising consumption of processed foods and the increasing adoption of vegan lifestyles.
Competitive Landscape-
Major Players Emphasize Mergers & Acquisitions to Amplify International Presence
The mushroom market features major industry players that prioritize mergers and acquisitions to enhance their international presence. These companies emphasize extensive research and development activities to drive product innovation. For example, in July 2020, Leap Foods launched its new line of mushroom-blended burgers and sausages, showcasing their commitment to developing innovative products.
Key Industry Development-
- March 2021: New Wave Holdings Corp., an investment issuer focused on the nutraceutical sector, announced the launch of its first functional mushroom products under the Way of Will brand. The company released the functional capsules and powder to the U.S. market.
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)
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