Market Overview:
Market Research Future (MRFR) has revealed in its recently published report that the global shiitake mushroom market is projected to register a strong CAGR of 15.31% during the forecast period 2017 to 2023. It is estimated that the market will reach a valuation of USD 35.4 Bn towards the end of the assessment period.
A shift witnessed towards healthy food habits is expected to encourage the proliferation of the global shiitake market over the next couple of years. The increasing awareness about the nutritional value of shiitake mushrooms is likely to accelerate market penetration.
Shiitake mushrooms have developed its application in the cosmetics industry. The increasing demand for shiitake mushroom-induced cosmetics is poised to open avenues of growth for the market players.
Shiitake mushrooms offer many health benefits such as improved digestion, better cardiovascular health, bone building, etc. which have paved the way for its application in the pharmaceuticals industry. The booming pharmaceuticals industry coupled with increasing healthcare expenditure are projected to fuel demand in the global shiitake mushroom market.
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Competitive Analysis:
Some of the key players profiled by MRFR in the report are Bonduelle SA (France), Mitoku Agro Dutch Industries Ltd. (India), Company Ltd. (Japan), Modern Mushroom Farms (U.S.), The Mushroom Company (U.S.), Hirano Mushroom LLC (Kosovo), and Banken Champignons (the Netherlands).
Industry Developments:
In March 2018, the U.S. based leader in organic tea, Choice Organic Teas, has launched shiitake mushroom wellness tea.
Market Segmentation:
By category, the global shiitake mushroom market has been segmented into fresh, dried, and processed. The fresh segment is projected to hold a relatively higher share of the market which is attributable to its use in preparing authentic cuisines.
By application, the shiitake mushroom market is segmented into food, pharmaceuticals, cosmetics, and others. The food segment presently holds 54.4% share of the market and is expected to retain its prominence over the forecast period. The growth can be ascribed to the nutritional value of the product which has fuelled demand in the segment.
By sales channel, the global shiitake mushroom market has been segmented into store based and non-store based. The store-based segment is further sub-segmented into wholesaler/distributor, retail stores, specialty stores, and others. The store-based segment is poised to exhibit a steep rise in growth of the revenue creation by market players.
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Regional Analysis:
By region, the global shiitake mushroom market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is estimated to dominate the global market with its control over 82.54% share of the market. The increasing consumption in the region is attributable to the large-scale use of shiitake mushrooms as a key ingredient for cuisines. The market in the region is projected to value around USD 1.7 Bn in 2017. China is one of the primary revenue contributors in the region. It is likely to gain traction in the market across the review period. North America is anticipated to remain a highly lucrative market thriving at 11.05% CAGR. The increase in consumption of shiitake mushrooms in the region is attributed to its nutritional value and medicinal properties.
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