Mushroom Market Size To Surge At 9.5% CAGR Is Expected To Reach $95.24 Billion in 2028 | Grand View Research, Inc.

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Mushroom Market Size To Surge At 9.5% CAGR Is Expected To Reach $95.24 Billion in 2028 | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting
According to a new report published by Grand View Research, The increasing vegan population demanding a protein-rich diet is expected to be a key factor driving the market over the forecast period. Mushrooms are considered a superfood owing to their nutritional contents, such as selenium, vitamin D, glutathione, and ergothioneine.

The global mushroom market size is expected to reach USD 95.24 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 9.5% over the forecast period. The increasing popularity of vegan diets across developed economies on account of growing environmental concerns and consumer awareness regarding animal welfare is likely to have a positive impact on the industry growth.

Rising consumer preferences for natural ingredient-based food and cosmetic products owing to the growing awareness regarding the side effects of synthetic products are expected to drive demand for mushrooms. Furthermore, mushrooms are rich sources of vitamins, antioxidants, essential oils, proteins, and other bioactive compounds, which lead to its increasing demand in pharmaceutical applications.

Mushroom manufacturers have started focusing on the adoption of sustainable production processes to improve brand position. For instance, Bonduelle Group, a France-based mushroom producer, focuses on Agroecology, wherein the company uses natural fertilizers and renewable energy sources to produce mushrooms. Recently, the company has also started using cardboard boxes by replacing the plastic packaging of its canned products.

The manufacturers are using merger & acquisition and partnership agreement strategies to increase their production capacities and expand their geographical presence. For instance, In April 2019, Greenyard signed an agreement with Carrefour Belgium, a retail group, for the supply of the former’s assortment of fresh fruits and vegetables. The agreement was intended to strengthen the commercial relationship of both companies and to expand the clientele base for Greenyard.

In addition, the growing demand for meat substitutes is likely to boost product demand. For instance, Germany-based food startup Walding has developed chicken alternatives using Laetiporus mushroom also known as chicken of the woods. Such product innovations are anticipated to offer lucrative growth opportunities to the market players, thereby augmenting industry growth.

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Mushroom Market Report Highlights

  • The button mushroom product segment led the global market, in terms of volume, due to the factors, such as wide-scale production, high shelf appeal, low price, and high nutritional value of these products
  • The fresh form segment accounted for the maximum volume share in 2020 and is likely to grow at a steady CAGR over the forecast period owing to high product demand
  • Supermarkets & hypermarkets dominated the distribution channel segment with a revenue share of 38.3% in 2020 owing to the high penetration of these stores in the developed markets of North America and Europe
  • The food application segment held the largest revenue share in 2020 and will expand at a substantial CAGR over the forecast years on account of growing consumer demand for packaged healthy food products
  • Asia Pacific was the dominant regional market, in terms of production as well as consumption due to the high vegan population in countries like China, India, and Japan

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Mushroom Market Segmentation

Grand View Research has segmented the global mushroom market on the basis of product, form, distribution channel, application, and region:

Mushroom Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)

  • Button
  • Shiitake
  • Oyster
  • Matsutake
  • Truffles
  • Others

Mushroom Form Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)

  • Fresh
  • Processed

Mushroom Distribution Channel Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)

  • Direct to Customer
  • Grocery Stores
  • Supermarkets & Hypermarkets
  • Convenience Stores
  • Online Stores

Mushroom Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)

  • Food
  • Pharmaceutical
  • Cosmetics

Mushroom Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Central & South America
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia

List of Key Players of Mushroom Market

  • Bonduelle Group
  • Costa Group
  • Greenyard
  • Monaghan Group
  • OKECHAMP S.A
  • Shanghai Fengke Biological Technology Co., Ltd.

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