The mushroom market size is expected to reach at US$ 19.63 billion by 2028; registering at a CAGR of 6.2% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Increasing Consumption of Mushrooms as Substitute to Meat Products to Drive Market Growth during 2022–2028
Mushrooms are the fleshy and edible fruit bodies of several species of macrofungi. White mushrooms are commonly eaten mushrooms in many countries. In recent years, the consumption of mushrooms has increased owing to the rising awareness about their health benefits, and consumer inclination toward plant-based food. The mushroom market has been analyzed on the basis of type, category, distribution channel, and geography. In terms of type, the button mushroom segment accounts for the largest market share, and the market growth of this segment is ascribed to the increasing demand for white button mushrooms for clinical research purposes. In 2021, Asia Pacific held the largest share of the mushroom market.
Mushroom Market Breakdown – by Region
Mushroom Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: by Type (Button Mushroom, Shiitake Mushroom, Oyster Mushroom, and Others), Category (Organic and Conventional), and Application (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)
Mushroom Market Developments by 2031
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A mushroom is a spore-bearing body of a fungus, typically produced above ground, on soil, or on its food source. Raw brown mushrooms contain 92% water, 4% carbohydrates, 2% proteins, and less than 1% fats. They are enriched with B vitamins (riboflavin, niacin, and pantothenic acid), selenium, and copper. Mushrooms also contain moderate levels of phosphorus, zinc, and potassium. The vitamin D content of a mushroom depends on postharvest handling, in particular the unintended exposure to sunlight. Mushrooms, especially cremini or portobello, impart a rich, earthy, and meaty flavor to foods. They are healthy and filling and can be used to replace meat in any recipe. Mushrooms are a good meat substitute although they contain lower levels of protein than meat. Moreover, they are full of antioxidants and lack fats and carbohydrates. In dishes containing large quantities of meat, a quarter to a half of the meat can be replaced with mushrooms to make a dish lower in calories, along with retaining the taste.
Giorgio Fresh Co.; B and G FOODS INC; Banken Champignons B.V.; Monterey Mushrooms, LLC; Woodstock Foods; Bonduelle SA; Monaghan Group; WALSH MUSHROOMS GROUP; Smithy Mushrooms; and Bluff City Fungi are a few key players operating in the global mushroom market. These companies have a diverse geographic presence and offer extensive product portfolios to cater to different consumer trends emerging in the mushroom market.
Impact of COVID-19 Pandemic on Mushroom Market
Lockdown impositions, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in various countries in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA). The social and commercial restrictions subsequently resulted in disruptions in supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. However, the demand for mushrooms increased owing to increasing consumer preference for plant-based food and rising awareness regarding the health benefits of mushrooms. Thus, the discontinuation of manufacturing activities and the rise in demand led to a demand and supply gap. In 2020, various businesses announced possible delays in mushroom consignments and projected a slump in future sales. Further, bans imposed by governments of various countries in Europe, Asia Pacific, and North America on international travel forced several companies to discontinue their collaboration and partnership plans.
The report segments the mushroom market as follows:
Based on type, the mushroom market is segmented into button mushroom, shiitake mushroom, oyster mushroom, and others. In terms of category, the market is bifurcated into organic and conventional. The mushroom market, by distribution channel, is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. Based on geography, the mushroom market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.
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