Wilmington, Delaware, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Yellow Oyster Mushroom Market by Product Form (Fresh and Processed), End User (Retail Consumers, Food Service Industry, Food Processing Industry and Nutraceutical and Pharmaceutical Companies), and Distribution Channel (Direct, Retail and Online): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the yellow oyster mushroom market was valued at $1.4 billion in 2023, and is estimated to reach $4.2 billion by 2033, growing at a CAGR of 11.6% from 2024 to 2033.
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Prime determinants of growth
The global yellow oyster mushroom market is experiencing growth due to several factors such growing consumer demand for exotic and gourmet foods and rising awareness of the health benefits associated with yellow oyster mushrooms. However, high cultivation costs and limited shelf life and perishability hinder market growth to some extent. Moreover, development of value-added products and advancements in cultivation techniques offer remunerative opportunities for the growth of the global yellow oyster mushroom market.
Report Coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $1.4 Billion |
| Market Size in 2033 | $4.2 Billion |
| CAGR | 11.6% |
| No. of Pages in Report | 235 |
| Segments Covered | Product Form, End User, Distribution Channel, and Region. |
| Drivers | Growing Consumer Demand for Exotic and Gourmet Foods |
| Health and Wellness Trends | |
| Sustainable and Plant-Based Food Movement | |
| Opportunities | Development of Value-Added Products |
| Advancements in Cultivation Techniques | |
| Restraints | High Cultivation Costs |
| Limited Shelf Life and Perishability |
Segment Highlights
The fresh segment is expected to grow faster throughout the forecast period.
By form, the fresh segment held the highest market share in 2023, accounting for less than three-fourths of the global yellow oyster mushroom market revenue and is expected to retain its dominance throughout the forecast period. The fresh version has a better flavor, texture, and culinary variety, which improves its popularity among customers. Fresh yellow oyster mushrooms are extremely valuable in gourmet cookery and fine dining due to their brilliant color and delicate flavor.
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The food service industry segment is expected to grow faster throughout the forecast period.
By end user, the food service industry segment held the highest market share in 2023, accounting for more than two-fifths of the global yellow oyster mushroom market revenue and is expected to retain its dominance throughout the forecast period. Restaurants, hotels, and cafes are major end-users of yellow oyster mushrooms due to their high culinary value and versatility. These establishments value the fresh, vibrant, and flavorful characteristics of yellow oyster mushrooms, which enhance gourmet dishes and specialty menus. The demand from the food service sector drives significant market volume, as chefs and food service professionals use these mushrooms to create visually appealing and high-quality dishes.
The retail segment is expected to grow faster throughout the forecast period.
By distribution channel, the retail segment held the highest market share in 2023, accounting for less than two-fifths of the global yellow oyster mushroom market revenue and is expected to retain its dominance throughout the forecast period. Supermarkets, grocery stores, and specialty food retailers are the primary outlets for fresh yellow oyster mushrooms, offering them to a wide range of consumers. Retail channels are crucial as they provide consumers with convenient access to fresh produce for home cooking. While direct sales and online platforms also play significant roles, especially in niche markets and for bulk purchases, retail stores remain the main distribution channel due to their broad reach and ability to cater to everyday consumer needs.
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Regional Outlook
Asia-Pacific to maintain its dominance by 2033.
By region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for more than one-third of the global yellow oyster mushroom market revenue and is expected to dominate throughout the forecast period. This region has a long tradition of mushroom production and consumption; thus, it is the biggest consumer market for numerous mushroom varieties, including yellow oyster mushrooms. China, Japan, and South Korea are important producers and consumers of mushrooms, which are used in many traditional cuisines. Asia-Pacific's dominant position in the yellow oyster mushroom industry is due to superior farming procedures and significant customer demand for different and exotic mushroom species.
Players: -
- Oke USA
- Hollandia Produce
- MycoFarm
- Shrooms Inc.
- Fungi Perfecti
- Mushroom Mountain
- FreshCap Mushrooms
- North Spore
- The Mushroom Company
- Hummingbird Mushrooms
The report provides a detailed analysis of these key players in the global yellow oyster mushroom market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Industry Developments:
- In 2022, Myco Technology, Inc., a global mushroom growing firm, secured almost $85 million in investment through its Series E round to accelerate its research efforts and expand its international presence.
- In 2021, Mycelia, a firm that specializes in mushroom-based health products, has developed a new range of supplements including oyster mushroom extracts. The product line was designed to capitalize on the increased demand for functional meals and supplements made from medicinal mushrooms.
- In 2020, Morrisons, a UK grocery company, has released an oyster mushroom meal kit as a component of its plant-based product portfolio. This launch addressed the growing demand for plant-based and vegetarian food choices with mushrooms as a significant ingredient.
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