In 2020, the global mushroom market was 14.35 million tonnes. At a CAGR rate of 6.74%, the market will grow from 15.25million tonnes in 2021 to 24.05 million tonnes in 2028. Globally, the impact of COVID-19 was unprecedented and dramatic. The mushroom has had a positive effect on demand in all regions. Our analysis revealed that the global market experienced a 6.3% growth in 2020 compared to the annual average growth between 2017 and 2019. This market’s growth and demand, which will return to pre-pandemic levels after the pandemic has ended, is responsible for the increase in CAGR.
The forecast period will significantly increase mushroom market demand and growth. This is due to increased commercial consumption in restaurants, cafeterias and supermarkets. The future growth of the mushroom market is also expected to be driven by consumer preferences for vegan food and increased demand for meat substitutes. Button and shiitake mushrooms, for example, are high in protein making them appealing alternatives to meat. These are the key trends in mushroom markets.
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Global demand for food that is low in fat and cholesterol and rich in nutrients will drive market growth. It contains fiber and digestive proteins that support gut health. This is due to the rapid growth of the food service industry, which has boosted demand at restaurants, hotels, and cafeterias. Eating edible mushroom powders in smoothies or sauces can have many health and nutritional advantages.
The market will continue to grow in the next few years due to increasing adoption as a replacement for meat. Its rich umami flavor makes it an ideal meat substitute. There is increasing demand for processed fungi, especially in Western countries. This has created export opportunities for many major Asian producing countries. In the next few years, market growth will be supported by the high medicinal potential of edible mushrooms and the growing awareness of the product among consumers.
Mushroom production demands a high level of management input and skills. For consistent high-quality yields, they require special care. They are affected by temperature, humidity, light, and heat. Growing crops can be difficult because of pests, such as insect and animal infestations.
Pest control becomes even more important because many insects, including fungus bugs, can reproduce under similar conditions. This causes increased production costs. The harvest windows are also shorter due to the short production cycles. Additionally, market growth will be affected by allergic reactions to oyster variants.
Key Market Trends
The Asia-Pacific region is the fastest growing market due to its emphasis on organic food and health. South Korea, China, India and Japan account for the majority of the region’s market share. The high number of South Korean producers means that domestic prices are often very low. This is causing producers to look at international markets. Europe is also a major producer, with France, Italy and Poland having the largest production shares. France’s production has been affected by recent drought conditions and limited rainfall. In terms of supply and price, the Italian mushroom market is stable.
October 2021 – Big Mountain Foods (a Vancouver-based food producer) announced its partnership to Sprouts Farmers Market, a leader for gut-healthy foods. This partnership will allow them to launch North America’s first Lion’s Mane product line.
October 2021: Beatnic, New York City’s most acclaimed vegan restaurant, announced a partnership with Fable Food Co (an Australian-based brand) to launch its first American-made meaty mushroom product. The meat alternative is made of real and natural shiitake varieties and will be available at all Beatnic’s locations.
- Banken Champignons
- Agro Dutch
- The Mushroom Company
- Modern Mushroom Farms
- Scelta Mushrooms
- CNC Grondstoffen b.v.
- Costa Group
- Phillips Mushroom Farms
- Shanghai Finc Bio-Tech
- Lutece Holdings
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