The global mushroom market was valued at USD 49.8 billion in 2021. It is projected to reach USD 112.71 billion by 2030, growing at a CAGR of 9.4% during the forecast period (2022–2030). Mushrooms are regarded as a superfood due to their high nutritional value. Selenium, vitamin D, glutathione, and ergothioneine are the four essential nutrients that can be found in abundance in mushrooms. These nutrients help reduce oxidative stress and prevent or lower the risk of chronic diseases like cancer, heart disease, dementia, and diabetes. Also, it has a robust natural umami flavor that lets people reduce the amount of salt in mushroom meals by 30–40%, which is good for health. In a variety of cuisines, mushrooms are used extensively in cooking. Mushrooms also have the ability to dye wool and other natural fibers. The chromophores in mushroom dyes are organic compounds that produce solid and bright colors. Mushroom dyes can be used to make any color in the spectrum.
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High Nutritional Properties of Mushrooms
Mushrooms are considered a superfood because they have a lot of good nutrients. Mushroom contains more vitamin B2, B3, B5, zinc, and antioxidants than popular vegan foods like potatoes, carrots, onions, and broccoli. They are the ideal food for people who care about their health and fitness because they are low in calories and nearly fat-free. Rising health consciousness among consumers worldwide has contributed to a dramatic increase in the consumption of a protein-rich diet in recent years. With increasingly hectic lifestyles, consumers cannot regularly consume a nutritionally complete diet, prompting them to seek nutrients from packaged food products. So, manufacturers of packaged foods are adding healthy ingredients like mushroom powder or extract to their products to attract customers.
Increasing Demand for Clean Label and Natural Cosmetics
Increased consumer awareness of the potential adverse effects of synthetic cosmetics has contributed significantly to the recent surge in demand for natural and organic skincare products worldwide. Consumers are paying more attention to labels and looking for products with natural ingredients. Cosmetics with transparent ingredient lists, which use only natural plant extracts and no synthetic ones like parabens or phthalates, are experiencing rapid market growth. Mushrooms have a lot of vitamins, antioxidants, essential oils and oils, hydrocolloids, proteins, terpenoids, and other bioactive compounds. They have many antioxidants, meaning cosmetics companies can use them to make moisturizers. As a result of their many desirable properties, mushroom extracts are likely to become increasingly popular in skincare products.
Limited Shelf Life of Mushrooms
Mushrooms have a short shelf life of one to three days due to their high water content. Thus, proper mushroom storage and transportation are essential post-harvest processes. Even if mushrooms are grown satisfactorily, inadequate transportation can ruin their quality, which can have an adverse effect on the final price of the product. Additionally, most mushrooms, including paddy straw mushrooms, have a short shelf life of only a few hours. To keep post-harvest losses to a minimum, they must be refrigerated, processed, or stored as soon as they are picked. In developing countries, especially in remote areas, electricity and refrigerated transportation aren't always available. As a result, growing mushrooms becomes challenging, slowing market expansion.
Increasing Use of Mushrooms as a Substitute for Meat Products
In the past few years, many people have started eating vegan food because meat has a lot of fat and cholesterol, which is harmful to health. Meat is a significant source of protein, so people who switch to a vegan diet will likely choose protein-rich vegan foods to meet their daily protein needs. Mushrooms, especially Cremini or Portobello mushrooms, can be used instead of meat because they taste and feel like meat and have a rich, earthy flavor. For mushroom producers, this could mean a boon as more people look to them as a meat alternative. Many players, like Scelta, offer different mushrooms that can be used in place of meat, like IQF Cremini, Portobello, and Ecopouch mushrooms.
The global mushroom market is segmented by product, form, distribution channel, and application.
Based on the product, the global market is bifurcated into a button, shiitake, oyster, matsutake, truffles, and others.
The shiitake segment is the highest contributor to the market and is expected to grow at a CAGR of 9.73% during the forecast period. Shiitake mushrooms are popular worldwide because they have a rich, savory flavor and many health benefits. Dried shiitake mushrooms are more popular than their fresh counterparts because of their umami flavor. In countries such as Japan, China, and South Korea, these mushrooms have been used in traditional medicine because their consumption improves health, longevity, and blood circulation. Shiitake mushrooms have a lot of protein, making them a good choice as a substitute for meat or a supplement to a healthy diet. Shiitake mushrooms have a large amount of natural copper, a mineral that helps keep blood vessels, bones, and the immune system healthy.
Buttons are among the most widely cultivated mushrooms in the world due to their numerous nutritional benefits and shorter incubation time for their spores. Buttons are small to medium-sized white mushrooms with caps that are about 2–7 centimeters across. White mushrooms can be used in the kitchen, from baking to stewing. Food service places also use buttons because they are easy to find worldwide. Button mushroom demand is expected to increase due to the rising popularity of mushroom-based dishes served in restaurants in response to the increasing number of vegan customers, particularly in North America and Europe.
Based on form, the global market is bifurcated into fresh and processed.
The fresh segment owns the highest market share and is expected to grow at a CAGR of 9.47% during the forecast period. Fresh mushrooms have seen a significant increase in demand in recent years, owing to increased consumer focus on organic and unprocessed food consumption. Technological developments like modified atmosphere packaging, which keeps mushrooms fresh for longer by maintaining a controlled environment, have helped alleviate the problems previously encountered due to mushrooms' short storage life. The growth of the fresh mushroom market is expected to be aided by the expansion of the global refrigerated logistics network and the spread of organized retail in emerging markets like the Asia Pacific and Central and South America.
Dried, frozen, canned, pickled, and powdered mushrooms all fall under processed mushrooms. To make mushrooms last longer, they must go through extra steps like canning, freezing, or drying. Due to changing lifestyles, consumers are increasingly choosing processed and convenient food products; consequently, mushroom companies are increasingly introducing packaged mushroom products across the globe. In addition, processed or powdered mushrooms are used by the cosmetics, dietary supplement, and pharmaceutical industries. Since mushrooms have such a short shelf life, there is a growing demand for mushroom processing to accommodate the lengthening distance between growers and consumers.
Based on distribution channels, the global market is bifurcated into direct-to-customer, grocery stores, supermarkets and hypermarkets, convenience stores, and online stores.
The supermarket and hypermarket segment is the highest contributor and is expected to grow at a CAGR of 9.68% during the forecast period. Supermarkets and hypermarkets are large department stores that stock various products. Supermarket and hypermarket penetration is higher in developed regions like Europe and North America than in developing regions like Africa and Southeast Asia. Supermarkets and hypermarkets have dominated the distribution channel market for mushrooms due to the convenience of shopping there and the wide selection of mushrooms they carry. Supermarkets and hypermarkets struggle to adapt to shifting consumer preferences and the rising threat posed by online grocers offering discounted mushrooms.
Grocery stores sell both fresh and packaged forms of food, in addition to providing customers with a selection of non-food-related products. These are larger than typical convenience stores, which in the United States typically measure around 2400 square feet in area. Compared to convenience stores, grocery stores stock a wider variety of processed mushroom products, and their bulk buying power allows them to offer better prices. Grocery stores, rather than supermarkets and hypermarkets, tend to be established in urban areas of most countries due to space constraints.
Based on applications, the global market is bifurcated into food, pharmaceuticals, and cosmetics.
The food segment owns the highest market share and is expected to grow at a CAGR of 9.59% during the forecast period. Mushroom consumption is rising worldwide for many reasons, including a greater focus on health and a larger vegan population. Mushrooms have few calories, no trans fats, and almost no cholesterol or sodium. Mushrooms also have a wealth of other beneficial nutrients, such as vitamins, minerals, proteins, and selenium. They are becoming increasingly well-liked among health and fitness-conscious shoppers. Additionally, the expansion of retail channels, specifically the penetration of e-commerce, has increased the availability of fresh and processed mushrooms in remote areas.
High interest in mushroom-based skincare products has led to their rapid proliferation in the cosmetics industry. Due to their competitive effectiveness and lower toxicity effects, the cosmetics industry constantly demands ingredients from natural or clean sources. The antioxidant, anti-aging, anti-wrinkle, skin-whitening, and moisturizing effects of mushrooms are well-documented because they contain high phenolics, polyphenolics, terpenoids, selenium, polysaccharides, and vitamins. The market responds favorably to labels that emphasize natural or minimally processed ingredients. Thus, cosmetic companies increasingly incorporate mushroom-based skin care in response to shifting consumer preferences.
The global mushroom market is bifurcated into five regions, namely North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa.
Asia Pacific Dominates the Global Market
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Asia-Pacific is the most significant shareholder in the global mushroom market and is expected to grow at a CAGR of 9.65% during the forecast period. China, Japan, Indonesia, India, South Korea, and Vietnam are some of the critical mushroom-producing emerging markets in the region. Traditional medicine systems like Ayurveda and Traditional Chinese Medicine, which use different mushrooms to treat various diseases, are more common in Asia-Pacific. Mushrooms are an essential component of the traditional Chinese diet and are used in multiple Chinese recipes. Mushrooms are predicted to be in high demand in the region due to their low caloric and high nutritional values and their immunity-boosting properties.
Europe is expected to grow at a CAGR of 9.52% during the forecast period. Europe is a significant player in the international mushroom trade and a major destination for mushroom imports. Gourmet mushrooms and other exotic mushrooms are more likely to discover a market in areas with higher revenues per person and more developed markets. Agaricus mushrooms, followed by others like porcini and shiitake, are the most commonly imported species into the region. Mushroom demand in Europe should benefit from the region's rising penchant for "functional foods," thanks to an increasingly health-conscious consumer base. The mushroom industry in the region should also benefit from the rising demand for vegan food.
North America is one of the most important mushroom markets because mushroom sales are more common in developed economies like the U.S. and Canada. The mushroom market is being pushed forward by a growing consumer base in developing economies like Mexico. Demand for high-priced mushrooms like shiitake and oyster mushrooms is predicted to rise over the forecast period, thanks to the region's growing urban population and rising per capita income. The rising number of fast-food establishments, restaurants, and cafes in the country is expected to increase the demand for fresh mushrooms.
A large consumer base can be found in Brazil, Argentina, Chile, Peru, and many others, making Central and South America one of the most promising mushroom markets. People in this area are getting better jobs and making more money, leading to more demand for exotic foods and dietary and nutrition supplements. Mushrooms can be farmed and naturally occur in countries like Chile and Brazil. Chilean mushrooms are widely used in both international and traditional cooking throughout Europe. Additionally, dried mushrooms like the Boletus luteus, or slippery jack, are a famous export from Chile and Peru.
Multiple developing nations, such as South Africa, Kuwait, Saudi Arabia, the United Arab Emirates, and Iran, make the Middle East and Africa a promising mushroom market. With an annual output of over 180 thousand tonnes and an average monthly export volume of 170 tonnes, Iran is one of the leading producers of mushrooms in the region. Among the many countries that purchase mushrooms from Iran, Iraq, the United Arab Emirates, Kuwait, and Qatar account for most buyers. Additionally, South Africa is a significant player in the global mushroom industry. However, the rising number of restaurants and expanding food market suggest that demand for mushrooms will continue to rise despite the lower per capita consumption compared to North America and Europe.
The global mushroom market’s major key players are Bonduelle Group, Costa Group, CMP Mushrooms, Drinkwater Mushrooms, Greenyard, Monaghan Group, Monterey Mushrooms, Inc., OKECHAMP S.A., and Shanghai Fengke Biological Technology Co., Ltd.