Pune, India, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The global mushroom market size is projected to hit 24.05 million tonnes by 2028 and exhibit a CAGR of 6.74% during the forecast period. Mushrooms are nutritionally rich and possess selenium, vitamin D, potassium, and other beneficial ingredients. The rising health consciousness amongst the ever-increasing population is anticipated to boost nutritional food consumption, thereby boosting the market’s growth. Fortune Business Insights™ has presented this information in its report titled, “Mushroom Market, 2021-2028”. The market size stood at 14.35 million tonnes in 2020 and 15.25 million tonnes in 2021.
Additionally, the soaring investment to automate its production is likely to be a key trend fueling the market growth.
Positive Growth due to Strong Demand Among Retailers amid COVID-19
The global coronavirus pandemic has potentially boosted the consumption of nutritionally rich food products. The growing health consciousness amongst consumers in the wake of the pandemic has boosted the consumption of mushrooms and fostered market growth. Additionally, the market has attracted significant investments during the pandemic to install hi-tech control systems and automate the production process. The consumers’ shift to online shopping is likely to complement the market’s growth in the forthcoming years.
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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)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 6.74 % |
| 2028 Value Projection | 24.05 Million Tonnes |
| Base Year | 2020 |
| Mushroom Market Size in 2021 | 15.25 Million Tonnes |
| Historical Data | 2017-2019 |
| No. of Pages | 156 |
| Segments Covered | By Type, By Form |
| Mushroom Market Growth Drivers | Rising Health Consciousness to Propel Consumption of High Nutritional Value Food to Fuel Growth |
| Increasing Investments in R&D to Improve Commercial Cultivation to Offer Growth Opportunities |
Browse Summary of this Research Report:
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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
The growing health consciousness amongst the ever-increasing population is anticipated to boost the consumption of foods with low cholesterol and fat contents. Mushrooms are widely consumed by restaurants, hotels, cafeterias, and households. They are rich in fiber and contain digestive enzymes that promote immunity and gut health. These nutritional attributes are expected to boost their consumption and bolster the global mushroom market growth.
The increasing investments in research and development activities to enhance commercial cultivation is expected to create lucrative growth opportunities for the market. The rising international trade and cultivation of exotic varieties are likely to stimulate growth for the market.
Additionally, the production process is labor-intensive and accounts for almost a third of the overall production costs. This has enabled manufacturers to automate their production processes using robotics and hi-tech control systems. The escalating investments to automate production is likely to fuel market growth in the coming years.
However, high operational costs may restrain the growth of the market.
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Regional Insights-
Asia Pacific to Lead the Market Share due to High Product Consumption
Asia Pacific is estimated to acquire the largest mushroom market share during the forecast period. China is the largest edible fungus producer in the world. The increasing product consumption in India, Japan, and others, coupled with the rising adoption of modern production methods, is predicted to flourish in growth for the market.
Europe is predicted to gain prominent growth in the global market. The high demand for the product for medicinal purposes in Spain, the Netherlands, and the U.K. is projected to favor the market growth. Moreover, the rising adoption of automation and modern production methods is anticipated to fuel the growth in Europe.
North America is projected to gain lucrative growth during the forecast period. Major market players' adoption of modern production methods and favorable government initiatives are expected to boost the market growth in North America.
South America is anticipated to gain significant growth due to rising processed food consumption and growing vegan lifestyle adoption.
Competitive Landscape-
Major Players Emphasize Mergers & Acquisitions to Amplify International Presence
The mushroom market comprises major industry players that emphasize mergers and acquisitions to amplify their international presence. They focus on extensive research and development activities for product innovation. For instance, in July 2020, Leap Foods launched its new mushroom-blended burgers and sausages.
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 functional capsules and powder to the U.S. market.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview on the Parent/Related Market
- Analysis on Supply and Demand of Raw Material (Mushrooms)
- Supply Chain & Regulatory Analysis
- Recent Industry Developments - Policies, Mergers & Acquisitions, and New Product Launches
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities to Support the Market during the Global Crisis
- Overview on the Parent/Related Market
- Global Mushroom Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Volume)
- Button
- Shiitake
- Oyster
- Others
- By Form (Volume)
- Fresh
- Frozen
- Dried
- Canned
- By Region (Volume)
- North America
- Europe
- Asia Pacific
- Rest of the World
- By Type (Volume)
- North America Mushroom Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Volume)
- Button
- Shiitake
- Oyster
- Others
- By Form (Volume)
- Fresh
- Frozen
- Dried
- Canned
- By Country (Volume)
- U.S.
- By Form (Volume)
- Fresh
- Frozen
- Dried
- Canned
- By Form (Volume)
- Canada
- By Form (Volume)
- Fresh
- Frozen
- Dried
- Canned
- By Form (Volume)
- Mexico
- By Form (Volume)
- Fresh
- Frozen
- Dried
- Canned
- By Form (Volume)
- U.S.
- By Type (Volume)
TOC Continued…!
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