Mushroom Market to grow at a CAGR of 6.62% | Potential in untapped markets to drive growth | Technavio

NEW YORK, Feb. 15, 2024 /PRNewswire/ -- The mushroom market is expected to grow by USD 22.20 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 6.62% during the forecast period. Untapped markets present significant growth opportunities for the global market, particularly in Asia where China leads with 75% of mushroom production. Europe's major producers, including Italy, Spain, France, Poland, Romania, Germany, and the Netherlands, have lower production levels compared to Asia. The United States ranks third globally. Notably, Europe and Asia exhibit substantial mushroom consumption, with Europe showing high per capita consumption. Shifting food preferences among millennials worldwide towards healthier and vegan options drive mushroom demand. Strategic B2B marketing initiatives and awareness campaigns highlighting the health benefits are anticipated to fuel market growth in the forecast period. Technavio provides a comprehensive report summary describing the size and forecast along with research methodology. The Free sample report is available in PDF format 

• Supply chain challenges and labor shortages may impede market growth.

The market is segmented by type (fresh mushroom, canned mushroom, and dried mushroom), product (button mushroom, shiitake mushroom, oyster mushroom, and others), and Geography (Europe, APAC, North America, South America, and Middle East and Africa). 

• The market share growth by the fresh mushroom segment will be significant during the forecast period. Increased R&D and innovation in mushroom cultivation are driving a broadening of the consumer base in the Global Fresh Mushroom Market. The demand for fresh mushrooms is underpinned by growing consumer interest in organic and unprocessed foodstuffs. Technological advances are helping to resolve the challenges of shelf life, including through modifications in atmosphere packaging and this is contributing to market growth. Leveraging a large volume of procurement, new mushrooms are now available for purchase on the Internet with excellent discounts. Hence, these factors are expected to drive segment growth during the forecast period. To know additional highlights and key points on various segments and their impact in coming years, View the Free PDF Sample Report.
  
  
• APAC is estimated to contribute 40% to the growth during the forecast period. Europe is another which is expected to grow during the forecast period. quality mushrooms at competitive prices. Italy, Spain, France, Poland, Romania, the Netherlands, and Germany are some of the top mushroom-producing countries in 2022, as defined by Eurostat. Since 2020 there has been a marked increase in the consumption of shiitake mushrooms in countries such as Spain, leading to increased local production. Ukraine has followed suit, with local supermarket chains offering exotic native mushrooms such as Eringium, Shimeji, Yenoki, and Honey that are frequently grown in China, South Korea, or the Netherlands. Hence, these factors are expected to drive growth in the region during the forecast period. 

The mushroom market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete. The report analyzes the competitive landscape and offers information on several companies, including Banken Champignons B.V., Basciani Foods Inc., BioFungi GmbH, BONDUELLE SA, Commercial Mushroom Producers Co. Operative Society Ltd., Drinkwater Mushrooms, Fujishukin Co. Ltd., Giorgio Fresh Co., Greenyard NV, Highline Mushrooms, Hughes Group, Lambert Spawn, Monaghan Mushrooms Ireland Unlimited Co., Monterey Mushrooms Inc., MycoTerraFarm, NABIA, OKECHAMP S.A., Phillips Mushroom Farms, South Mill Champs, and Weikfield Foods Pvt. Ltd. View the Free PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

The mushroom market is experiencing a surge in demand, driven by the growing vegan population seeking protein-rich alternatives in their diets. Mushrooms, known for their umami flavor and versatility, are gaining popularity as a staple in protein-rich vegan sources. As concerns about health, including oxidative stress from the Western diet, rise, consumers are turning to mushrooms for their numerous health benefits. Additionally, manufacturers in various industries, including personal care & beauty product manufacturers, are incorporating botanical ingredients derived from mushrooms for their natural properties. This trend is impacting producer strategies, leading to innovations in maintenance scheduling and shelf life enhancement. However, challenges such as fluctuating prices and import duties require careful navigation.

In lockdowns, the logistics and goods transportation industry faced unprecedented hurdles, impacting the industry. Button, Shiitake, Oyster, and Matsutake mushrooms, revered in traditional medicines, witnessed fluctuations. Benzaldehyde, a key component in mushrooms, contributed to revenue-based CAGR. Despite concerns over endangered species, the industry thrived, with fresh and processed forms dominating volume share. Modified atmosphere packaging revolutionized distribution, extending shelf life. However, logistics disruptions posed challenges, affecting supply chains. Amidst adversity, the industry adapted, emphasizing sustainable practices and ethical sourcing. As demand surges, stakeholders prioritize resilience, innovation, and regulatory compliance to navigate the evolving landscape of mushroom distribution and consumption.

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ToC:

Executive Summary

Landscape

Sizing

Historic Sizes

Five Forces Analysis

Segmentation by Distribution Channel 

Segmentation by Product Type

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

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SOURCE Technavio