Mushroom Market Outlook, Share, Growth, Analysis, and Forecast

Market Overview:

The global mushroom market size reached US$ 63.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 90.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028. Significant growth in the food and beverage industry, various advancements in mushroom packaging technologies, and increasing consumption of organic food products represent some of the key factors driving the market.

Significant growth in the food and beverage sector Augmenting the Market Growth

The mushroom market has been experiencing continuous growth. Increasing demand for healthy and natural ingredients currently represents one of the primary drivers resulting in the increasing sales of mushrooms. Mushroom is highly regarded for their nutritional value, as they are low in calories, fat-free, and rich in vitamins, minerals, and dietary fiber.  In addition, the growing demand for processed and convenience foods has led to the increasing utilization of mushrooms as a flavor enhancer, ingredient, or standalone product in food processing. Besides, the rising popularity of plant-based diets on account of various factors, such as health consciousness, environmental concerns, and ethical considerations is escalating the sales of mushrooms.

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with a number of small and large players operating in the industry due to low product differentiation and reduced switching costs. The volume of new entrants is moderate in the mushrooms industry due to significant requirements of investment in infrastructure, equipment, growing facilities, and technology, more market competition, and required regulatory requirements.

What is Mushroom?

Mushroom refers to the fleshy, spore-bearing fruiting bodies of certain fungi that come in various shapes, sizes, and colors. It is grown in a controlled environment with proper light, ventilation, soil pH levels, nutrients, and moisture. It is rich in essential nutrients, including protein, fiber, potassium, sodium, antioxidants, carbohydrates, riboflavin, vitamin D, zinc, and selenium. It helps strengthen immunity, promote weight loss, regulate blood pressure levels, and reduce the risks of various chronic diseases. A distinct variety of mushrooms are utilized in the manufacturing of numerous nutraceuticals and pharmaceutical products. It is also used to prepare pickles, jams, soups, sauces, candies, and smoothies. Some popular variants of mushrooms consumed across the globe include milky, paddy, and reishi.

COVID-19 Impact:

The COVID-19 pandemic outbreak has caused a severe problem for the mushroom industry and imposed unprecedented challenges on numerous countries. The industry faced disruptions in the supply chain due to lockdown measures, travel restrictions, and labor shortages. It has also created a serious disturbance in the packaging sector which resulted in shortages and increments in the price of mushrooms.  Moreover, the shutting down of quick service restaurants (QSRs) and food service segments has led to a decline in the demand for mushrooms. Furthermore, due to global lockdowns, the demand for mushrooms from key downstream industries, such as pharmaceutical industries has been closed for a period of time. The pandemic has also led to restrictions on international trade, including export and import limitations, which affected the supply and distribution of mushrooms.

Mushroom Market Trends:

The global market is primarily driven by the rising demand for plant-based protein among the masses. Along with this, significant growth in the food and beverage sector is catalyzing the growth of the market. Moreover, 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. Besides, various advancements in mushroom packaging technologies, such as the development of humidity-regulating packaging materials that prevent water condensation on mushrooms from extending their shelf-life, are acting as another major growth-inducing factor. In line with this, several major companies are focussing on developing new varieties and broad product ranges, including organic versions, which are gaining widespread prominence across the country. Apart from this, the increasing utilization of mushroom in the diet as it contains a rich amount of fiber and digestive enzymes that promote gut and immunological health is catalyzing the product demand. Additionally, the increasing usage of a wide range of mushrooms in the formulation of various pharmaceuticals and drugs propels the growth of the overall market. Furthermore, continual developments in organized distribution channels, along with the emerging e-commerce sector, are impacting the market favorably. Other factors, including ongoing advancements across the agriculture sector, the advent of home delivery models, and extensive research and development (R&D) activities conducted by leading players to enhance nutritional quality are also influencing the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global mushroom market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on mushroom type, form, distribution channel and end-use.

Mushroom Type Insights:

• Button Mushroom
• Shiitake Mushroom
• Oyster Mushroom
• Others
   

The report has provided a detailed breakup and analysis of the mushroom market based on the mushroom type. This includes button mushroom, shiitake, mushroom oyster mushroom and others. According to the report, button mushroom represented the largest segment due to the high global demand. They have a mild flavor and a versatile nature, making them suitable for various culinary applications and cuisines. In addition, the demand for mushrooms been largely influenced by the ease of adaptability and yield, and versatility in culinary applications.

Form Insights:

• Fresh Mushroom
• Canned Mushroom
• Dried Mushroom
• Others
   

A detailed breakup and analysis of the mushroom market based on the form has also been provided in the report. This includes fresh mushroom, canned mushroom, dried mushroom, and others. According to the report, fresh mushroom accounted for the largest market share due to rising consumer demand for freshness, as fresh variants offer superior taste, texture, and overall quality compared to processed or preserved mushrooms. In addition, the demand for fresh mushrooms has been largely influenced by the various nutritional benefits.

Distribution Channel Insights:

• Supermarkets and Hypermarkets
• Grocery Stores
• Online Stores
• Others
   

A detailed breakup and analysis of the mushroom market based on the distribution channel has also been provided in the report. This includes supermarkets and hypermarkets, grocery stores, online stores, and others. According to the report, retail accounted for the largest market share due to the increasing need for convenience among individuals. In addition, retail provides a sensory shopping experience, allowing consumers to physically examine and select the mushrooms they prefer.

End-Use Insights:

• Food Processing Industry
• Food Service Sector
• Direct Consumption
• Others
   

A detailed breakup and analysis of the mushroom market based on the end-use has also been provided in the report. This includes food processing industry, food service sector, direct consumption, and others. According to the report, direct consumption accounted for the largest market share due to the freshness as mushrooms are highly perishable and have a relatively short shelf life. In addition, fresh mushrooms offer the highest nutritional value compared to processed or preserved mushrooms.

Regional Insights:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include 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 the Middle East and Africa. According to the report, Europe was the largest market for mushroom. Some of the factors driving the Europe mushroom market included shifting dietary preferences toward vegan foods, extensive research and development activities by leading players, and the development of innovative mushroom-based products.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global paper cups market. Some of the companies covered in the report 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.
• The Mushroom Company
   

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the mushroom market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global mushroom market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the mushroom industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.