USD 59.48 billion for Global Mushroom Market by 2021

Zion Market Research has published a new report titled “Mushroom Market by Type (Milky Mushroom, Button, Shiitake, Oyster, Paddy Mushroom, Winter Mushrooms, Reishi Mushroom and Others), by Category (Fresh Mushroom, Dried Mushroom, Canned Mushroom, Frozen Mushroom and Others) for Food Processing Industry, Medical and Direct Consumption: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”. According to the report, global mushroom market was valued at over USD 35.08 billion in 2015, is expected to reach above USD 59.48 billion in 2021 and is anticipated to grow at a CAGR of slightly above 9.2% between 2016 and 2021.

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Mushroom is the fleshly fungus which is parasitic in nature i.e. they depend on other plants for the food source. Mushrooms can be cultivated with low cost and lowland, therefore the majority of manufacturers are turning towards mushroom cultivation. Mushrooms are distinct due to their nutritional properties. Mushrooms can be broadly classified as edible and nonedible mushrooms which are mainly toxic. Mushrooms market is likely to experience tremendous growth over the period of years owing to rise in food and medical industry.

Surging use of mushrooms as ingredients in various food products fuels the mushroom market growth. Mushroom possess various nutritional properties such as low fat and low cholesterol which is utilized as prominent food for the patients suffering from high cholesterol and obesity. This factor, in turn, stimulates the growth of the market. However, the low shelf life of the mushrooms increases the preservation cost of the manufacturers which may hinder the growth of the market. Nevertheless, escalating food chain and food markets in the developing countries coupled with ongoing research for untapped uses of mushrooms are likely to open new opportunities for the mushroom market in the coming years.

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The mushrooms market can be segmented on the basis of type into the milky mushroom, button, shiitake, oyster, paddy mushroom, winter mushrooms and reishi mushroom among others. Button mushroom was the leading segment of the market in 2015 owing to high demand from the end users due to its organic properties and easy availability. Fresh and processed mushrooms are utilized in the food industry for manufacturing of numerous food products. The food industry, medical and direct consumption are the some of the end users of the mushroom market. Among all, food industry dominated the mushroom market due to the diverse use of mushrooms in food products. Medical segment is likely to experience a high growth in the forecast period owing to high medical properties of mushrooms.

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Asia-Pacific accounted for the largest market share in 2015 and is expected to grow at the faster pace in the forecast period. Some of the factors such as higher consumption rate of mushroom in China, India, and Japan suffice the growth of the mushroom market in this region. Europe held the highest market share of the mushroom market in 2015. Europe accounted for largest production and processing region for mushroom owing to high demand for organic food from end-user industry. North America is experiencing elevated growth due to growing demand for processed food. Latin America has a huge stake in developing the mushroom market due to the utilization of mushroom in various food products for great taste and aroma. The Middle East and Africa are likely to witness decent growth in the forecast period due to the presence of abundant resources and favorable conditions.

Intense competition among the players due to the presence of several vendors in the market forces the companies to follow different strategies like product innovation to sustain in the market. Monaghan Mushrooms, Fresh Stock, Agro Dutch Industries Ltd, Bonduelle, Modern Mushroom Farms, Hughes Mushroom, Scelta Mushrooms BV, Drinkwater Mushrooms Ltd, Banken Champignons, the California Mushroom Farms Inc, Monterey Mushrooms, Inc, Echolink Baltic, OKECHAMP S.A., The Mushroom Company, Weikfield Foods Pvt. Ltd and Kulkarni Farm Fresh Pvt. Ltd among others is some of the key profiles in the mushroom market.

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