Mushroom Market. (Courtesy photo)
WASHINGTON — In 2023, the global Mushroom Market size was worth USD 56 billion. It is estimated to reach USD 136 billion in 2032 growing at a CAGR of 9.5% between 2023-2032. Although technically not plants, mushrooms, and toadstools are edible fungi (Agaricomycetes, Ascomycota) that are regarded as vegetables.
Mushrooms are a fairly underrated category of food that have been utilized and consumed medicinally for a very long time. Practitioners of traditional and folk medicine praise the bell-shaped fungi for their curative and purifying powers. All mushroom kinds are minimal in calories, and they also only include small levels of fiber and other minerals.
The non-nutritive plant components found in mushrooms, such as polysaccharides, polyphenols, carotenoids, and indoles, have been demonstrated in cell and animal experiments to have antioxidant, anti-inflammatory, and anticancer effects.
Key Insights:
Market Growth Forecast: Projected compound annual growth rate (CAGR) of approximately 9.5% between 2023-2032.
Industry Overview: Significance placed on production quality, market demand, and cultivation practices for both edible and medicinal mushrooms.
Type Analysis: Button mushrooms are expected to gain market share due to nutritional benefits, short spore incubation times, and cost-effective pricing.
Demand Trends: Notable surge in demand for fresh mushrooms, aligning with consumer focus on fresh, organic, and unprocessed food choices for health optimization.
Distribution Channels: Developed regions like Europe and North America are expected to witness growth in supermarkets and hypermarkets due to convenience and variety.
Market Drivers: Population growth, shifting dietary preferences, health and wellness emphasis, and increased demand for natural and organic products driving industry development.
Challenges: Market competition, seasonal supply variations, the need for eco-friendly cultivation practices, economic fluctuations, and regulatory changes pose challenges.
Recent Trends: Increased demand for functional and medicinal mushrooms, sustainable cultivation practices, and incorporation into culinary and healthcare products.
Regional Dominance: Asia Pacific anticipated to dominate the mushroom market, holding the largest share of 40% during the forecast period.
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Factors Influencing Market Growth:
Increasing Health Consciousness: Growing consumer awareness of the nutritional benefits of mushrooms, including low salt, gluten, and fat content, is driving market growth.
Demand for Natural and Healthy Foods: The rising preference for healthier food options and the demand for natural nutrients are significant factors fueling the growth of the mushroom market.
Innovation in Food Products: The introduction of mushroom-based products by food and beverage companies, responding to consumer trends, is contributing to market expansion.
Expanding Pharmaceutical Applications: Mushroom extracts, rich in bioactive substances, are finding increased use in pharmaceuticals and supplements, driving growth in the pharmaceutical segment.
Market Trends:
- Rising Health Consciousness: Growing awareness of the health benefits of mushrooms, such as low salt and fat content, is driving consumer preferences and shaping market trends.
- Expanding Culinary Innovation: Mushroom varieties are increasingly becoming a focal point in culinary creations, with chefs experimenting with different types in various cuisines, contributing to the diversification of the market.
- Functional Mushroom Products: The emergence of functional beverages and food products infused with mushrooms is gaining popularity, reflecting a trend towards combining flavor with health benefits.
- Mushrooms in Skincare: Mushroom-based skincare products are gaining traction in the cosmetic industry due to their natural moisturizing, antioxidant, and anti-aging properties, aligning with the demand for clean-label products.
Market Growth Factors:
Increasing Consumer Awareness: Growing awareness among consumers about the nutritional and health benefits of mushrooms is driving market growth.
Health and Wellness Trends: Shifting consumer preferences towards healthier food options and the emphasis on wellness contribute to the rising demand for mushrooms.
Population Growth: The expanding global population is a significant factor fueling the demand for food products, including mushrooms.
Demand for Natural and Organic Products: The increasing consumer preference for natural and organic products is boosting the mushroom market, as mushrooms are often perceived as a wholesome and organic food choice.
Functional and Medicinal Mushroom Trends: Growing popularity of functional and medicinal mushrooms, driven by their perceived health benefits, contributes to market expansion.
Sustainable Cultivation Practices: The adoption of sustainable cultivation practices aligns with the broader trend of environmentally conscious consumer choices, supporting market growth.
Incorporation into Culinary and Healthcare Products: The integration of mushrooms into various culinary and healthcare products, reflecting recent trends, is expanding the market’s reach and appeal.
Regional Outlook:
In the mushroom market, the Asia Pacific region is poised to take the lead, holding a substantial share of 40% during the forecast period. This dominance is intricately tied to the region’s rich heritage in traditional medical systems like Ayurveda and Chinese medicine.
Mushrooms, known for their diverse medicinal properties, are extensively used to address various health conditions in these practices. The growing awareness of the nutritional benefits, low-calorie content, and immunity-boosting effects of medical mushrooms is expected to be a key driver of mushroom demand in the Asia Pacific region.
In Europe, the reliance on imports is a significant characteristic of the mushroom market, particularly with a sizable consumer base that appreciates gourmet items, especially exotic mushrooms. The higher per capita income in the developed nations of Europe contributes to a robust demand for these specialty mushrooms. The import value of mushrooms in the region reached approximately USD 183 million in 2019, underscoring the significant market presence and economic importance of mushrooms in European countries.
In North America, especially in the United States and Canada, there’s expected to be a lot of growth. People in these countries are more and more willing to spend extra money on products that are good quality and made with natural and organic stuff. This change in what people like fits well with the increasing popularity of veganism in the area. So, there’s a good chance for mushroom-based meat substitutes to do really well in both the food and dietary supplement industries in the coming years.
Competitive Landscape:
Innovation and Product Development: Leading companies are investing significantly in research and development to introduce innovative mushroom-based products, meeting the evolving preferences of consumers.
Strategic Collaborations: Collaboration is a key strategy, with firms forming alliances across the value chain. This includes partnerships between cultivation firms, processors, and distributors to streamline production and distribution processes.
Global Expansion Efforts: To tap into emerging markets and broaden their consumer base, major players are focusing on expanding their presence globally. This involves entering new regions and establishing partnerships with local distributors.
Scope of the Report
| Report Attribute | Details |
| Market Value (2023) | USD 56 Billion |
| Market Size (2032) | USD 136 Billion |
| CAGR (from 2023 to 2032) | 9.5% |
| Asia Pacific Revenue Share | 40% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2024 to 2033 |
Mushroom Market Segment Insight
By Type Analysis:
Leading Variety: Button mushrooms take the lead in the mushroom market, propelled by their numerous nutritional benefits and a shorter incubation time required for spores to grow. Notably, their competitive edge extends to their reduced cost in comparison to other mushroom varieties, making them a driving force in the mushroom market throughout the entire projection period.
Growing Oyster Mushroom Segment: Concurrently, the oyster mushroom segment is poised for substantial growth during the estimated time period. Recognized for their delicate texture and mild-savory flavor, oyster mushrooms find wide applications in various cuisines, particularly gaining popularity in China, Japan, and Korea.
Health Benefits of Oyster Mushrooms: Beyond culinary appeal, oyster mushrooms boast health benefits. They contain an active chemical called benzaldehyde, known for its antibacterial properties. This distinctive quality positions oyster mushrooms as a sought-after choice, generating demand not only in the culinary realm but also in pharmaceutical applications. The convergence of unique taste and health advantages positions the oyster mushroom as a rising star in the dynamic mushroom market landscape.
By Form Analysis:
Dominance of Fresh Mushrooms: In the mushroom market, fresh mushrooms have taken center stage, capitalizing on the increasing consumer preference for fresh, organic, and unprocessed foods to maximize health benefits. Despite the challenge of a shorter shelf life, technological advancements, such as innovative packaging solutions, have alleviated concerns and boosted the demand for fresh mushrooms.
Rising Demand for Processed Varieties: Processed forms of mushrooms, including dried, frozen, canned, pickled, and powdered varieties, are expected to experience substantial growth. Further processing techniques, like canning, freezing, or drying, are adopted to extend the shelf life of mushrooms. Manufacturers are introducing packaged products to tap into the processed and convenience food sectors, with the use of mushroom extracts and powders gaining traction in the food and cosmetics industries, contributing to the overall growth of the mushroom market throughout the forecast period.
By Distribution Channel:
Supermarkets and Hypermarkets Leading: Supermarkets and hypermarkets are in high demand, especially in developed regions like Europe and North America. These retail giants offer a wide array of mushroom products in one place, making shopping easy and contributing to the segment’s growth throughout the forecast period.
Surge in Online Store Demand: Concurrently, online stores are experiencing significant growth. The convenience and cost benefits of purchasing fresh produce online appeal to consumers globally, making it a key driver for the growth of this segment during the estimated time period.
By End-User:
Food Sector Dominance: The food sector holds the largest share, with restaurants, food service providers, and households utilizing both processed and fresh mushroom forms. Mushrooms, known for their low salt, gluten, cholesterol, and fat content, are rich in essential nutrients, making them popular among health-conscious consumers. The rising demand for healthier food options with natural nutrients is expected to drive mushroom demand in the food sector. Many food and beverage companies are capitalizing on this trend by introducing products with mushrooms as the main ingredient, contributing to segment growth. For example, FreshCap Mushrooms Ltd. introduced functional beverages infused with mushrooms in February 2021.
Key Market Segments
- By Type
- Button
- Shiitake
- Oyster
- Other types
- By Form
- Fresh
- Processed
- By Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- By End-user
- Food
- Pharmaceutical
- Cosmetics
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Маrkеt Кеу Рlауеrѕ:
- Costa Group
- Drinkwater Mushrooms
- Bonduelle Group
- CMP Mushroom
- Menterey Mushroom, Inc
- Greenyard
- The Mushroom Company
- Monaghan Group
- Shanghai Fengke Biological Technology Co., Ltd
- OKECHAMP S.A
- Other Key Players
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