Mushroom Market: Current Analysis and Forecast (2023-2030)

Report Description

Global Mushroom Market is expected to grow at a significant rate of around 9% during the forecast period(2023-2030). A mushroom is an umbrella-shaped fruiting body of a certain macro-fungi group that is fleshy and nutrient-rich. They can appear above or below the ground and are edible as they provide a strong umami flavor and several health benefits. The deficiency and inadequacy of micronutrients constitute a global health issue. Despite the abundant sunshine present in many countries across the globe, there has been a rise in the number of people with vitamin D deficiency owing to the lack of food fortified with, vitamin D. Owing to these facts and the increase in health-conscious population, there has been growing demand for mushrooms among the consumers as mushrooms contain Vitamin D and have the ability to synthesize it when exposed to UV light or sunlight exposure.

Furthermore, the rising demand for clean-label cosmetics and growing consumer awareness regarding product formulation and ingredients are gaining significant traction in the market. Therefore, many beauty & personal care product manufacturers are increasingly using plant-based ingredients while formulating their products which in turn is expected to have a positive impact on the demand for mushrooms. Mushrooms are incredibly adaptable; they are delicious sauteed, can be used to create vegan leather, and can even be included in healthcare products. One of the most fascinating inhabitants of Earth are mushrooms, which differ from plants and animals by their distinctive molecular makeup and growth habits.  Also, the different varieties of mushrooms can provide unique beauty benefits which has been touted by many skincare experts. For example, the Shiitake mushroom, one of the most readily eaten mushrooms is rich in kojic acid and helps to brighten the skin, fade dark spots and acne scars, and treat hyperpigmentation.

Basciani Foods Inc., Monaghan Mushrooms, BioFungi GmbH, Mush-Boom Costa, Bonduelle, Weikfield Foods Pvt. Ltd., Greenyard, Valley Mushrooms, SA Mushrooms, Scelta Mushroom BV are some of the prominent players operating in the mushroom market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new varieties of mushrooms.

Insights Presented in the Report

“Amongst Product, Button segment holds the major share”

Based on product, the market is segmented into button, shiitake, oyster, and others. The button mushroom dominated the mushroom market and is expected to grow at a considerable CAGR during the upcoming years as it is one of the most popular varieties of mushrooms that is consumed and produced regularly all over the world. For instance, the national annual production of mushrooms in India is estimated to be approx. 50,000 tonnes with almost 85% of this production being of a button mushroom.

“Amongst Form, Fresh segment holds the major share”

Based on the form, the mushroom market has been bifurcated into fresh, processed, dried, canned and frozen. The fresh segment is expected to garner the major market share in 2022 and will grow at a remarkable CAGR. This is mainly owing to the high demand for fresh mushrooms as they are more nutritious as compared to the other ones. Fresh white mushrooms are rich in riboflavin niacin, copper, pantothenic acid, and selenium.  Additionally, the increase in the number of consumers who are inclined towards healthier food options with no added preservatives is also propelling the growth of the market.

Mushroom Market Report Coverage

“Amongst Application, Food segment holds the major share”

Based on the application, the market is fragmented into food, pharmaceutical, and cosmetics. The food segment accounted for the highest revenue share in 2022 and is expected to grow with a substantial CAGR during the projected timeframe. This is mainly owing to the growing utilization of various forms of mushrooms in households and by food service providers. Furthermore, the growing popularity of the overall health benefits provided by the mushrooms is leading to the increase in consumption of mushrooms among fitness enthusiasts which in turn is also driving the growth of the market.

“North America represents one of the largest markets of mushroom market”

North America is one of the largest markets of mushroom markets in 2022. The region shows growth potential as a result of the product’s rapidly expanding demand, which is linked to its numerous health benefits. In order to improve their production capacity and maintain their leadership in the local market, prominent market players in North America are implementing cutting-edge cultivation techniques as well as a variety of merger and acquisition strategies. Additionally, the government’s assistance in accelerating harvesting speeds contributes to growth. For instance, the National Institute of Food and Agriculture of the U.S. Department of Agriculture awarded about USD 4 million to the College of Agricultural Sciences at Pennsylvania State in September 2021 to support a group of researchers as they look into technologies to address labor shortages on farms that cultivate edible fungi.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

Customization Options:

The global mushroom market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Global Mushroom Market Analysis (2023-2030)

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global mushroom market were the three major steps undertaken to create and analyze the adoption of mushroom in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global mushroom market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Mushroom through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the mushroom market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product, form, application, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of mushrooms across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the mushroom. Further, we conducted factor analysis using dependent and independent variables such as the growing adoption of mushroom in various sectors. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisition, business expansion, and product launches in the mushroom sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the mushroom market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2030 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of mushroom across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the mushroom market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the mushroom market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, form, application, and distribution channel of the mushroom market.

The main objective of the Mushroom Market Study

The current & future market trends of mushrooms were pinpointed in the study. Investors can gain strategic insights to base their discretion on investments from the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of mushroom in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product, form, application, and distribution channel
• Define and analysis of the regulatory framework for the mushroom industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the mushroom market for the major region
• Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the world
• Company profiles of the mushroom market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry

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