Increasing consumer preference for processed food will escalate the North America mushroom market at a CAGR of 7.7%
Rising consumption of processed food items and increasing awareness among consumers, about the health benefits of mushroom in United States, Canada and Mexico are some of the primary factors driving the North America mushroom market. Changing lifestyle patterns of individuals has impacted the eating habits and preferences. With the busy lifestyle individual’s preference towards ready to cook meals has also changed, owing to conveniences and hygiene it offers. The consumer also preferring processed mushroom, which provides various health benefits; processed mushroom contains vitamin D vitamin B, calcium, magnesium and potassium, and other minerals content. Therefore, the demand for mushroom has risen considerably in the processed industry in the last few years. Manufactures in the food industry are also focusing more on innovation, to add more nutritive value in mushroom. Mushroom has several health benefits, which is making it suitable to use in several food and beverage products. This is one of the major factor driving the growth of the mushroom market.
Some of the major driving factors contributing to the market growth are increasing consumer preference for processed foods and increasing demand for meat substitutes. Recently, with the going growing preference for vegan food, people are increasingly adopting plant-based products, thus the demand for mushroom has been increasing. Further, a specialty type of mushrooms such as oyster and shiitake is preferred in the food processing industry for different packed food products. Rising disposable income has improved customer preferences for staple food consumption. With the changing lifestyle, consumers are demanding for whole staple food, which can be prepared in minimal time and hygienic. Furthermore, rising online purchases of staple food are gaining transactions across the U.S., and this would support the market growth during the forecast period. Technology advancement in mushroom industry is projected to offer future growth opportunities for market players operating in the North America mushroom market in near future.
The North America mushroom market has been derived from market trends and revenue generation factors; The North America mushroom market is expected to experience significant growth in the coming years on account of the increasing consumption and demand for mushroom. The U.S is the second largest producer of the mushroom North America, after China. In North America, demand for processed food is more than compared to other regions, due to this demand for processed mushroom products is expected to drive in the coming years. Moreover, mushroom growers have experienced that mushroom is one of the most profitable business across the world. Growth of mushroom market in the recent five years is primarily driven by the following major factors, such as rising health awareness about health and wellness, rise in R&D activities and increase in adoption of advanced technologies to enhance applicability and growing consumption of processed food
The major players operating in the market for North America mushroom market include Bonduelle Group, Giorgio Fresh Co., Golden Umbrella Mushroom, Gourmet Mushrooms, Inc., Greenyard Group, Monaghan Mushrooms, Monterey Mushrooms, Inc., New Hampshire Mushroom Company, Phillips Mushroom Farm and Phillips Mushroom Farm and among others.
North America Mushroom Market - By Revenue and Forecast, 2018 