Global Mushroom Market to Reach US$ 90.4 Billion by 2028, Propelled by Escalating Demand for Plant-Based Protein

April 04, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled “Mushroom Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global mushroom market size reached US$ 63.0 Billion in 2022. Mushrooms are the fleshy, spore-bearing fruiting bodies of certain fungi that come in various shapes, sizes, and colors and belong to the kingdom Fungi. They consist of a stem, cap, and gills or pores that grow above the ground that do not contain chlorophyll or undergo photosynthesis. Mushrooms can grow in a variety of environments, from damp forests to grassy meadows to decomposing organic matter, and edible mushrooms are typically cultivated in controlled environments. Their meaty texture and umami flavor make them excellent meat substitutes in vegetarian and vegan dishes. Mushrooms are an excellent source of protein, fiber, vitamins B, C, D, and minerals. In addition to providing protection against free radicals, the antioxidants and immune-boosting properties of mushroom also enhance immunity and prevent infection in the body. Mushrooms are consumed as food and used in a variety of culinary dishes, such as soups, stews, and salads and certain types of mushrooms are used in the production of antibiotics as well as traditional medicine.


Global Mushroom Market Trends:

The global market is majorly driven by the escalating demand for plant-based protein among the masses. This can be attributed to the emerging trend of veganism resulting in a paradigm shift in consumer preferences toward plant-based protein sources. In line with this, the growing health-consciousness among individuals is resulting in a higher uptake of low-calorie, low-fat, and low-carbohydrate food, which, in turn, is fueling the market. Additionally, the rising consumption of natural and organic food is driving the demand for sustainable and environmentally friendly farmed mushrooms. Also, the rapid urbanization leading to the scarcity of arable lands is resulting in a rising need for high-yield crops requiring ease of cultivation. Moreover, the rise in popularity of gourmet cuisine and high-end dining experiences are leading to the growing usage of mushroom as a staple ingredient, which in turn is driving demand for exotic and specialty mushroom varieties. The market is further fueled by the continual technological advancements in mushroom cultivation techniques and the advent of numerous hybrid varieties. Apart from this, the increasing usage of a wide range of mushroom in the formulation of various pharmaceuticals and drugs is resulting in a higher product uptake across the pharmaceutical sector. Some of the other factors contributing to the market include considerable growth in the agriculture industry, rising demand for cost-effective meat substitutes, inflating disposable income levels and extensive research and development (R&D) activities conducted by key players. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 90.4 Billion by 2028, exhibiting a CAGR of 5.8% during 2023-2028.


Market Summary:

  • Based on the type, the market has been segmented into button mushroom, shiitake mushroom, oyster mushroom, and others. Among these, button mushroom represents the largest market segment. 
  • On the basis of the form, the market has been divided into fresh mushroom, canned mushroom, dried mushroom, and others. Among these, fresh mushroom accounts for the dominant market share. 
  • Based on the distribution channels, the market has been categorized into supermarkets and hypermarkets, grocery stores, online stores, and others.
  • On the basis of the end-use, the market has been classified into food processing industry, food service sector, direct consumption, and others.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa. At present, Europe holds the leading position in the market. 
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Agro Dutch Industries Ltd., Bonduelle Fresh Europe, Drinkwater Mushrooms Ltd., Monaghan Mushrooms Inc., Monterey Mushrooms Inc., OKECHAMP S.A., Shanghai Finc Bio-Tech Inc., and The Mushroom Company.

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Forms Covered Liquid, Powder
Nature Covered Organic, Conventional
End Users Covered Food and Beverages, Pharmaceutical, Nutraceutical and Dietary Supplement, Cosmetics and Personal Care
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Alphay International Inc., Bio-Botanica, Bristol Botanicals Limited, DXN Holdings Bhd, Hokkaido Reishi, Mushroom Science, Nammex, Qingdao Dacon Trading Co., Ron Teeguarden Enterprises Inc, The Mushroom Company, Xi'an Greena Biotech Co. Ltd, etc.
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Global Mushroom Market to Reach US$ 90.4 Billion by 2028, Propelled by Escalating Demand for Plant-Based Protein
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