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Mushroom Market Size, Share & COVID-19 Impact Analysis, By Type (Button, Shiitake, Oyster, and Others), By Form (Fresh, Frozen, Dried, and Canned), and Regional Forecast, 2021-2028

Region : Global | Format: PDF | Report ID: FBI100197

 

KEY MARKET INSIGHTS

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The global mushroom market size was 14.35 million tonnes in 2020. The market is projected to grow from 15.25 million tonnes in 2021 to 24.05 million tonnes in 2028 at a CAGR of 6.74% during the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with mushroom witnessing a positive impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a higher growth of 6.3% in 2020 as compared to the average year-on-year growth during 2017-2019. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.


Edible fungi are commonly known as mushrooms that have been classified as vegetables; however, technically, they are not considered plants. They are rich in riboflavin, potassium, vitamin D, selenium, and other ingredients that are beneficial for human health. Results of the clinical and preclinical studies show it helps in supporting healthy immunity, weight management, and overall health performance. Additionally, its consumption can potentially reduce the risk of diseases, such as prostate cancer and breast cancer, which, in turn, aids in boosting its consumption and sales performance.


COVID-19 IMPACT


Positive Growth due to Strong Demand Among Retailers amid COVID-19


The consumption pattern of consumers changed upon the pandemic outbreak. Among these, edible fungus consumption increased owing to its health-benefiting attributes and consumers' keen interest in plant-based food. Although, during the initial months of lockdown, due to firm closure of restaurants and cafes and restrictions in public mobility, the foodservice segment witnessed a steep fall in their sales, with a revenue decrease of 50-80% for mushroom manufacturers. With the HORECA sector observing a setback and people staying indoors, the in-home consumption of several food products increased significantly, including the fresh ones. According to the U.S. Department of Agriculture (USDA), 816,367 pounds of the product were shipped in 2020, with a rise in sales value by 3%, to reach USD 1.15 billion. Brown edible fungus dollar sales surged by 3.6%. At the same time, the specialty variants’ sales were up by 2% to reach USD 67.4 million. Furthermore, the shifting of consumers toward e-commerce platforms, along with the foodservice sector gradually resuming their normal functioning, has augmented the mushroom market growth.


LATEST TRENDS


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Growing Investments in Smart Automation for Mushroom Production to Fuel Growth


Production of edible fungi is a growing and labor-intensive business, with staff accounting for about one-third of production costs. This has influenced various organizations and manufacturers in the industry to invest in automated techniques in their processing facilities. In 2020, Panbo Systems BV, an edible fungus manufacturing and consultancy company, developed a new generation production facility using hi-tech control systems and robotics to move pickers from growing areas and increase productivity by over 300%. This new approach will use cameras to monitor growth and robot vehicles that help in picking, filling, and emptying the growing racks. This makes cultivation areas and picking very efficient, increases yields and reduces costs. Thus, the technique is expected to improve production as well as provide opportunities for the industry in upcoming years.


DRIVING FACTORS


Rising Health Consciousness to Propel Consumption of High Nutritional Value Food to Fuel Growth


Growing demand for food with low fat and cholesterol content along with being packed with nutrients is expected to escalate the global market growth. It also contains fiber and digestive enzymes that support gut and immune health, which has led to its growing incorporation in various dietary supplements. The rapidly expanding foodservice industry is boosting the demand across hotels, restaurants, and cafeterias. The health and nutritional benefits of fungi can also be obtained with the incorporation of edible fungus powders into soups, smoothies, and sauces. Increasing adoption of it as a substitute for meat, coupled with the rising vegan population, is anticipated to further drive the growth of the market during the foreseeable years. The rich, umami flavor of fungi makes it the perfect meat alternative and an effective way of reducing fat and calories while boosting nutrition. Growing demand for processed variants, especially across western countries, is generating export opportunities for major producing Asian countries. Furthermore, the high medicinal value of edible fungus and increasing awareness among people is expected to contribute to the market growth during the foreseeable years.


Increasing Investments in R&D to Improve Commercial Cultivation to Offer Growth Opportunities


Governments across several countries are investing in the production of high-quality varieties of these edible fungi that are not only safe for human consumption but can also be exported to other countries to generate revenue. Adoption of the advanced pest management system to control damage can further ensure higher yields, which, in turn, aids the market growth. Agaricus bisporus, also known as common or edible button fungus, is a widely cultivated and consumed type in the world. Its growing recognition and inclusion in the diet have augmented its market performance. With the expansion of global industry, its commercial production and distribution have improved significantly. Furthermore, growing international trade, coupled with the initiation of exotic varieties cultivation in the major producing countries/regions, is anticipated to fuel market growth in the forthcoming years.


RESTRAINING FACTORS


High Operational Costs in Cultivation to Hamper the Market Growth


Mushroom production requires a high degree of management input and skill. It requires specific treatment to achieve consistent, high-quality yields. They are strongly affected by humidity, temperature, and light. Insects and animal pests can pose serious hurdles for growers, especially in the fields. This makes pest control critical as some insects, such as fungus gnats, breed under the same conditions, which increases the production costs as well. Along with this, its short production cycles and high yields shortens the harvest windows, which hampers its production quantity. Furthermore, the allergic reactions while producing oyster variants are expected to restrain the market growth.


SEGMENTATION


By Type Analysis


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Button Type to Hold the Largest Mushroom Market Share Due to its Health Benefits


Button is the most widely consumed type across the world and can potentially offer a number of health benefits. This type is commercially grown in almost all the major producing countries such as China, the United States, Italy, the U.K., Germany, Taiwan, and others. Increased R&D on white button variety to discover its potential in preventing cancer, coupled with its availability at economical prices as compared to specialty varieties, is projected to escalate the segment’s performance during the forecast period.


The shiitake type is expected to witness growth owing to its rising production and high nutrition quotient. The variant’s demand is likely to grow in the foreseeable years as the consumption of shiitake in Southeast Asian and European countries is increasing at a decent pace. Furthermore, anti-tumor, cholesterol-lowering, and antiviral properties of shiitake are aiding the growth of this segment.


By Form Analysis


Fresh Mushroom to Hold the Largest Share due to its Rising Demand in Healthier Food Products


The demand for fresh variety is increasing worldwide, especially across the U.S. and other developed economies due to the growing demand for healthier preservatives-free food products. The demand is projected to witness a steep rise across developing economies of Asia Pacific and Europe due to rising consumer inclination toward organic food products. In the developing countries such as South Korea, India, and others, where particular varieties such as the button variant are grown in abundance, the cost of fresh varieties is comparatively lower. Its low price compared to processed forms may further push the sales across the aforementioned countries.


Frozen varieties are expected to witness substantial growth owing to their wide application in food and extended shelf life, which is around 24 months. The demand is growing with its incorporation in food products to enhance fragrance and flavor and also to increase the nutritional value of food. Furthermore, the longer shelf life makes this more convenient and cost-saving, which further contributes to the segment’s growth.


REGIONAL INSIGHTS


Asia Pacific Mushroom Market Size, 2020 (Million Tonnes)

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The volumetric consumption of the product in the Asia Pacific was 11.50 million tonnes in 2020. The per capita consumption in China, which is the largest manufacturer of edible fungus in the world, is higher than in any other country. Its consumption in Asian countries such as Japan, India, and others is increasing at a significant pace attributed to its growing production, along with a rise in imports. Adoption of advanced and modern cultivation techniques by farmers in the region, coupled with its use for manufacturing medicinal products to treat various diseases and for overall fitness, is expected to fuel the regional market growth in coming years.


Mushroom production and consumption in Europe are growing rapidly due to the surging demand for nutrient-rich food in the region. In the Netherlands, Germany, the U.K., Spain, and others, its medicinal applications are observing decent growth and the trend is expected to continue during the upcoming years. The utilization of advanced processing techniques by producers and distributors in Europe is predicted to contribute to the processed product sales growth across the region. In addition, the rising interest in animal protein replacement and preferences toward vegan food is driving the alterations in the consumption patterns of consumers. The dried variant paves opportunities for the market as health-conscious consumers seek food with functional value. Further, its growing application as an ingredient in the food processing industry supports the market performance. In the U.K., a leading health food chain, Holland & Barrett is capitalizing on producing several types of food supplements from dried or powdered forms, which is anticipated to drive the regional market growth.


The North American industry, especially the U.S., is exhibiting growth opportunities due to the product’s significantly growing demand attributed to its abundant health benefits. Prominent market players in North America are adopting advanced cultivation techniques, along with various merger and acquisition strategies to increase their production capacity and maintain their prominence in the regional market. Furthermore, the government’s support to improve the harvesting speed also aids the growth. For instance, in September 2021, the U.S. Department of Agriculture’s National Institute of Food and Agriculture granted approximately USD 4 million to Pennsylvania State’s College of Agricultural Sciences to help a team of researchers as they investigate technologies to address shortages of labor on edible fungus cultivation farms.


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South America is likely to observe substantial growth owing to the growing consumption of processed food and the use of the product as a flavor enhancer in various food products. The increasing adoption of a vegan lifestyle and demand for meat substitutes meals is further driving the regional market.


KEY INDUSTRY PLAYERS


Extensive Focus on Merger & Acquisition Activities by International Market Players


The market in many developed and developing economies is proliferating at a significant pace. However, their systematic distribution via supermarkets/hypermarkets, convenience stores, specialty stores, and online is still a challenge across many countries and regions. Investment by market players as well as governments to improve the distribution channel of fresh and processed edible fungus can bring immense growth opportunities for sales across the world. Numerous companies are focusing on merger & acquisition strategies to remain prominent in the global market. For instance, in January 2021, South Mill Champs, a leading North American grower and supplier, acquired Cambridge-based ‘the Mushroom Company,’ one of the largest processors of the product in North America. The acquisition will support and expand South Mill’s product innovation and capabilities.


LIST OF KEY COMPANIES PROFILED:



  • Weikfield Foods Pvt. Ltd. (Maharashtra, India)

  • BioFungi GmbH (Bavaria, Germany)

  • Monaghan Mushrooms (Monaghan, Ireland)

  • Highline Mushrooms (Ontario, Canada)

  • Scelta Mushrooms BV (Limburg, Netherlands)

  • Monterey Mushrooms, Inc. (California, U.S.)

  • Nasza Chata (Czaniec, Poland)

  • Banken Champignons B.V. (Wijchen, Netherlands)

  • Bonduelle S.A. (Villeneuve d’Ascq, France)

  • Ecolink Baltic (Varena, Lithuania)


INDUSTRY DEVELOPMENTS:



  • October 2021 - Big Mountain Foods, a Vancouver-based food manufacturer, announced its partnership with Sprouts Farmers Market, a leader in gut-healthy foods, to launch the first Lion’s Mane mushroom product line across North America.

  • October 2021 – Beatnic, New York City's acclaimed vegan restaurant, announced its partnership with Fable Food Co, an Australian-based brand, to launch its first meaty mushroom product in the U.S. Meat alternative is made from real and natural shiitake variety and will be offered at all Beatnic’s locations.


Report Coverage


An Infographic Representation of Mushroom Market

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The global mushroom report delivers quantitative and qualitative on the industry and a detailed analysis of the market growth rate and size. The market is segmented by type, form, and region. Coupled with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. Different key insights given in the report are the overview of related markets, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, and key industry trends.


Report Scope & Segmentation














































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Estimated Year



2021



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Volume (Million Tonnes)



By Type




  • Button

  • Shiitake

  • Oyster

  • Others



By Form




  • Fresh

  • Frozen

  • Dried

  • Canned



By Geography




  • North America (By Type, Form, and Country)

    • U.S. (By Type)

    • Canada (By Type)

    • Mexico (By Type)



  • Europe (By Type, Form, and Country)

    • Netherlands (By Type)

    • Spain (By Type)

    • France (By Type)

    • U.K. (By Type)

    • Germany (By Type)

    • Rest of Europe (By Type)



  • Asia Pacific (By Type, Form, and Country)

    • China (By Type)

    • India (By Type)

    • Japan (By Type)

    • Australia (By Type)

    • Rest of Asia Pacific (By Type)



  • South America (By Type, Form, and Country)

    • Brazil (By Type)

    • Argentina (By Type)

    • Rest of South America (By Type)



  • Middle East & Africa (By Type, Form, and Country)

    • South Africa (By Type)

    • Israel (By Type)

    • Rest of ME&A (By Type)





Frequently Asked Questions

Fortune Business Insights says that the global consumption was 14.35 million tonnes in 2020 and is projected to reach 24.05 million tonnes by 2028.

Rising at a CAGR of 6.74%, the market will exhibit steady growth in the forecast period (2021-2028)

The button segment is expected to be the leading segment under type in the market during the forecast period.

Increasing awareness regarding the nutritional benefits offered by the product is driving the market growth.

Costa Group, Monterey Mushrooms, Inc., and Bonduelle are a few of the key players in the market.

Asia Pacific is anticipated to hold the highest market share in the market.

The fresh segment is expected to grow at the fastest pace during the forecast period.

Investment in increasing production and adoption of smart packaging techniques are the key market trends driving the growth of the market.

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  • Apr, 2022
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