Emphasis on Product Type (Button, Shiitake, Oyster, Others); Form (Fresh, Processed); Application (Food, Pharmaceutical, Cosmetics); Distribution Channel Type (Hypermarkets & Supermarkets, Convenience Stores, Grocery Stores, Online); Region/Country
Global Mushroom Market was around US$ 40 billion in 2020 and is anticipated to reach above US$ 75 billion by 2027 displaying an elevated CAGR of ~9% over the forecast period (2021-2027). 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 it provides 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 of the 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. For instance, as per recent observational data, nearly 40% of the Europeans are vitamin D deficient and almost 13% are severely deficient. 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 the product formulation and ingredients is gaining significant traction in the market. Therefore, many beauty & personal care product manufacturers are being increasingly using plant-based ingredients while formulating their products which in turn is expected to have a positive impact on the demand for mushrooms. For example, as per the study published in 2019, bets-glucan, found in mushrooms aids in improving the skin barrier, making it particularly attractive to those with sensitive skin. Also, the different varieties of mushrooms can provide unique beauty benefits due to which it 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, fades dark spots and acne scars, and treat hyperpigmentation.
Production of Mushroom & Truffles Worldwide, 2015-19 (tonnes)
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 Type, Button segment holds the major share”
Based on product type, 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. However, the shiitake mushroom is also expected to grow in the forthcoming years owing to the increasing consumption of this variety of mushrooms in some of the Asian and European countries.
“Amongst Form, Fresh segment holds the major share”
Based on the form, the mushroom market has been bifurcated into fresh and processed. The fresh segment is expected to garner the major market share in 2020 and will grow at a remarkable CAGR owing to the high demand for fresh mushrooms as they are more nutritious as compared to the other ones. 100g of fresh white mushrooms are rich in riboflavin niacin, copper, pantothenic acid and selenium. Also, the increase in the number of consumers that are inclined towards healthier food options with no added preservatives is also propelling the growth of this segment.
“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 2020 and is expected to grow with a substantial CAGR during the projected timeframe as there is a growing utilization of various forms of mushrooms in households and by foodservice 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 this segment.
“Amongst Distribution Channel, Food segment holds the major share”
Based on distribution channels, the market is segmented into hypermarkets & supermarkets, convenience stores, grocery stores, and online. The hypermarket & supermarket segment grabbed the major market share in 2020 and it is also predicted that it will grow at a significant pace in the forthcoming years. The growth of this segment can be attributed to the growing penetration of hypermarkets and supermarkets in developing countries. For instance, in Singapore, there were 577 supermarkets across the country in 2020 which was an almost 4% increase from 2019. However, online stores are anticipated to witness the fastest growth over the forecast period.
“North America represents one of the largest markets of mushroom market”
For a better understanding of the market dynamics of the mushroom market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. Asia-Pacific constitutes a major market for the Mushroom Market industry and generated revenue of USD XX Million in 2020 owing to the growing consumption and production of mushrooms in Asian countries.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis (industry At A Glance)
4. Executive Summary
5. Covid-19 Impact
6. Global Mushroom Market Revenue
7. Market Insights By Product Type
8. Market Insights By Form
9. Market Insights By Application
10. Market Insights By Distribution Channel
11. Market Insights By Region
12. Mushroom Market Dynamics
13. Mushroom Market Opportunities
14. Mushroom Market Trends & Insights
15. Legal & Regulatory Framework
16. Demand And Supply Side Analysis
17. Value Chain Analysis
18. Competitive Scenario
19. Company Profiled
20. Disclaimer
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 type, form, application and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of mushroom 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 growing adoption of mushroom in various sectors. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger 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 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
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 of 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 type, form, application and distribution channel of the mushroom market.
The main objective of the Mushroom Market Study
The current & future market trends of mushroom were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were 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:
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November 7, 2024
