Mushrooms are one of the most versatile and valuable food products in the world. They are rich in protein, fiber, vitamins, minerals and antioxidants, and have various health benefits such as boosting immunity, lowering cholesterol, preventing cancer and enhancing brain function. Mushrooms are also used for medicinal purposes, such as treating infections, inflammation, diabetes and depression. Moreover, mushrooms are environmentally friendly, as they can grow on organic waste materials and reduce greenhouse gas emissions.
The global mushroom market was valued at USD 46.1 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.5% from 2021 to 2028, according to a report by Grand View Research. The increasing demand for mushrooms from the food and beverage, pharmaceutical and cosmetic industries is driving the market growth. The COVID-19 pandemic has also boosted the consumption of mushrooms as a source of immunity and nutrition.
The mushroom market can be segmented by type, form, end-use and region. By type, the market can be divided into button, shiitake, oyster, enoki, portobello, cremini and others. Button mushrooms accounted for the largest market share in 2020, as they are widely used in salads, soups, pizzas and sandwiches. Shiitake mushrooms are expected to witness the fastest growth rate during the forecast period, as they have high medicinal value and are popular in Asian cuisines.
By form, the market can be classified into fresh and processed. Fresh mushrooms dominated the market in 2020, as they have a longer shelf life and better flavor than processed mushrooms. Processed mushrooms include canned, dried, frozen and others. Processed mushrooms are convenient to use and store, and are suitable for value-added products such as sauces, soups and snacks.
By end-use, the market can be categorized into food and beverage, pharmaceutical, cosmetic and others. Food and beverage accounted for the largest market share in 2020, as mushrooms are widely used as ingredients or toppings in various dishes. Mushrooms are also used to produce beverages such as tea, coffee and beer. Pharmaceutical is expected to be the fastest growing segment during the forecast period, as mushrooms have various therapeutic properties and are used to produce drugs and supplements.
By region, the market can be segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific dominated the market in 2020, as it is the largest producer and consumer of mushrooms in the world. China is the leading country in this region, followed by India and Japan. Europe is the second largest market for mushrooms, as it has a high demand for exotic and organic mushrooms. North America is also a significant market for mushrooms, as it has a growing preference for plant-based foods and healthy lifestyles.
The mushroom market is highly competitive and fragmented, with many small and large players operating in the industry. Some of the key players include Monaghan Mushrooms Ltd., The Mushroom Company LLC., Costa Group Holdings Ltd., Bonduelle SA., Okechamp SA., Greenyard NV., Shanghai Finc Bio-Tech Inc., Agro Dutch Industries Ltd., CMP Mushrooms BV., Banken Champignons BV., among others.
The mushroom industry is facing some challenges such as high production costs, lack of skilled labor, climate change impacts and regulatory issues. However, the industry also has some opportunities such as increasing consumer awareness about health benefits of mushrooms, product innovation and diversification, expansion of distribution channels and online platforms, adoption of advanced technologies such as artificial intelligence (AI), biotechnology and vertical farming.
The mushroom industry is a lucrative and growing sector that offers various benefits for human health and environment. The industry is expected to witness significant growth in the coming years due to the rising demand from various end-use industries across the globe
