The Global Mushroom Market was estimated at USD 46.8 Bn in 2020 and is expected to grow with CAGR of 10.4 % during the forecast period.
The mushroom market is majorly growing owing to the rising use of mushrooms as a substitute for meat products across the globe. Mushrooms, such as Portobello or Cremini are a good substitute for meat as they are full of earthy, meaty, and rich texture & flavour. They are also rich sources of minerals and vitamins like zinc, selenium, vitamin B2, B1, B6, B5, and B12. Additionally, these mushrooms are low in carbohydrate & fat contents and offer antioxidant properties to the consumers. Therefore, people who are flexitarian, vegetarian, or the ones opting for less meat consumption are now rapidly demanding mushrooms in place of meat to make delicious and lower calories dishes. Owing to this, many key players in the mushroom industry such as Scelta are offering a variety of mushrooms including Portobello, Ecopouch, and IQF Cremini mushrooms that can be used as meat substitutes.
Moreover, favourable trade scenarios for mushrooms, along with the initiation of cultivation of a wide variety of mushrooms across the major mushroom producing countries such as China, Italy, the U.S., Netherland are also expected to boost the mushroom industry growth. Along with this, International and government agencies are heavily investing in Research & Development for increasing the shelf life and enhancing the mushroom quality. In addition, many developing countries such as India are taking up initiatives to elevate the small-scale industries through mushroom farming by offering government subsidies for mushroom cultivation. Further, biotechnology, which is crucial for breeding is going through many advancements, which is projected to positively drive the mushroom market. Also, the adoption of the advanced pest management system across many fields has led to higher mushroom production, which is thereby expected to surge growth in the mushrooms market. All these aforementioned factors are contributing to majorly influencing the mushroom industry demand.
Global Mushroom Market by Region Outlook (Revenue, USD Million, 2021-2027)
Based on region, the Asia-Pacific region held the dominant share in the mushroom market and is expected to show a similar trend in the forecast period. This high share is majorly attributed to the presence of major food processors and growers in this region. The rising demand for nutritious food along with the growing popularity of processed food products has bolstered the product demand in the region. Along with this, favourable government support for the promotion of mushroom cultivation is further driving the mushroom market growth in this region. Moreover, the presence of several international and domestic players such as Zhangzhou Tianjin Kunyu International Co., Ltd., Greencan Food Co., Ltd., Qingdao Sinonut International Ltd., and Costa Group are also influencing the market demand in this region.
The Global Mushroom Industry Segmentation:
Global Mushroom Market by Application Outlook (Revenue, USD Million, 2021-2027)
Global Mushroom Market by Form Outlook (Revenue, USD Million, 2021-2027)
Global Mushroom Market by Product Outlook (Revenue, USD Million, 2021-2027)
Global Mushroom Market by Distribution Channel Outlook (Revenue, USD Million, 2021-2027)
Company Profiles and Competitive Intelligence
The key players operating in the Mushroom market are: