Rapid advancements and innovation in mushroom cultivation and processing technologies is a key factor driving mushroom market revenue growth
Vancouver, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The global mushroom market size was USD 50.40 Billion in 2021 and is expected to register a revenue CAGR of 9.6% during the forecast period, according to the latest analysis by Emergen Research. Growing trend of veganism and rising demand for plant-based proteins, such as mycoprotein and meat alternatives, are expected to drive revenue growth in the market. In addition, rising research activities for development of innovative mushroom-based products are driving revenue growth in the market. For example, on 20 August 2020, Better Plant Sciences Inc. announced that its subsidiary Neonmind Biosciences completed the final product development of Four distinctive Ayurveda-inspired and botanically enhanced mushroom coffee blends. This organic coffee contains mushroom extracts and Ayurvedic herbs, is rich in nutrients- and antioxidants, and also helps to improve immunity. Special combinations of reishi, cordyceps, lion's mane, and turkey tail mushrooms are found in the formulae.
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Moreover, matsutake mushroom is high in demand in Asian countries due to their potent, spicy scent, meaty texture, and earthy flavor. This mushroom is very rarely produced and was listed as an endangered species in 2020 July Red List published by the International Union for Conservation of Nature (IUCN).
However, production of mushrooms requires a lot of management, effort, and expertise to get consistent and high-quality yields, which is a major factor hampering revenue growth of the market. In addition, mushrooms can cause allergies, nausea, and vomiting to a few people and have a pungent smell as it grows in moist conditions, which also restrains revenue growth of the market.
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Scope of Research
|Market Size in 2021||USD 50.40 Billion|
|Revenue Forecast to 2030||USD 114.40 Billion|
|Base Year for Estimation||2021|
|Quantitative Units||Revenue in USD Billion and CAGR in % from 2021 to 2030|
|Report Coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments Covered||Product type, distribution channel, application, end-use, and region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Country Scope||U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa|
|Key Companies Profiled||Bonduelle, Drinkwater Mushrooms, CMP Mushrooms, The Green Yard, Weikfield Foods PVT. LTD., BioFungi GmbH, Monaghan Group, Highline Mushrooms, Monterey Mushrooms, LLC., Basciani Foods, Costa's Pty Ltd.|
|Customization Scope||10 hours of free customization and expert consultation|
Major Companies and Competitive Landscape
The global mushroom market is fairly fragmented, with small, medium, and large-sized companies accounting for majority of market revenue. Major companies are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective mushrooms. Some major companies included in the global mushroom market report are:
- Drinkwater Mushrooms
- CMP Mushrooms
- The Green Yard
- Weikfield Foods PVT. LTD.
- BioFungi GmbH
- Monaghan Group
- Highline Mushrooms
- Monterey Mushrooms, LLC.
- Basciani Foods
- Costa's Pty Ltd.
- On 15 June 2022, PsyKey introduced its functional mushroom-infused coffee line. PsyKey has been striving to create four functional mushroom-infused coffees that combine whole dried and ground fruiting bodies of adaptogenic, immune-boosting functional mushrooms that are rich in nutrition and antioxidant with 100% organic Arabica coffee beans. It is made with a variety of mushrooms such as maitake, Chaga, reishi, cordyceps, turkey tail, and lion's mane.
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Some Key Highlights From the Report
- The oyster segment is expected to register a steady revenue growth rate during the forecast period. This mushroom has a high nutritional profile and is loaded with fibers, vitamins, minerals, and other antioxidants. It also supports heart health and promotes blood sugar regulation, which is driving revenue growth of this segment.
- The online segment is expected to register a rapid revenue CAGR over the forecast period. Consumers prefer online platforms due to ease of transaction, convenience of shopping anytime, and fast delivery. It also offers a wide variety of products at high and discounted rates and saves time and effort. The online website also provides detailed information about the product, which is an added advantage and is driving revenue growth in this segment.
- The Asia Pacific market is expected to register fastest revenue growth rate over the forecast period due to rising adoption of advanced processing techniques, increasing vegetarian population, and growing health awareness among consumers.
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Emergen Research has segmented the global mushroom market based on product type, distribution channel, application, end-use, and region:
- Product Type Outlook (Revenue, USD Billion; 2019–2030)
- Distribution Channel Outlook (Revenue, USD Billion; 2019–2030)
- E-commerce Platforms
- Offline Stores
- Convenience Stores
- Application Outlook (Revenue, USD Billion; 2019–2030)
- Meat Alternative
- Faux Leather
- End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Building & Construction
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
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