WASHINGTON, April 18, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Mushroom Market finds that rise in the consumption of processed food and growing awareness about health and wellness along with increasing global population across the globe are factors that influencing the growth of Mushroom Market.
The total Global Mushroom Market is estimated to reach USD 86.0 Billion by the year 2028. The Market stood at a revenue of USD 49.9 Billion in the year 2021, and expected to grow at a Compound Annual Growth Rate (CAGR) of 9.50%, states Vantage Market Research, in a report, titled “Mushroom Market Size, Share & Trends Analysis Report by Type (Button, Shiitake, Oyster, Matsutake), by Form (Fresh, Processed), by Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores, Online Sales Channel), by Application (Food, Pharmaceutical, Cosmetic), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Mushroom market is predicted to grow at a CAGR of roughly 9.50% during the forecast period.
- The Mushroom market was estimated to be worth roughly USD 49.9 Billion in 2021 and is expected to reach USD 86.0 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Mushroom market.
Market Dynamics:
Drivers:
Increasing Awareness regarding Health and Wellness
Mushrooms are a low fat, low-calorie food that gives you a nutritive punch. It is filled with many health-boosting antioxidants, minerals, and vitamins which have been recognized as a valuable part of any diet. For example, mushrooms are a good source of Vitamin D when grown with exposure to ultraviolet rays, a crucial component in immune and bone health.
Increasing demand for low fat, low cholesterol food because of various health related problems like obesity, cancer, among others is driving the market for mushrooms. These days Veganism has become a trend as well as a habit towards healthy living. People are learning about the harm it is causing to animal species and the environment. The motive is to stop exploiting, stressing, and ending any animal to the end of its species. Veganism and mushroom acting as a meat substitute together is also propelling the growth for this market.
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Segmentation of Mushroom Market:
- Type
- Button
- Shiitake
- Oyster
- Matsutake
- Truffle
- Others
- Form
- Fresh
- Processed
- Distribution Channel
- Hypermarkets & Supermarkets
- Convenience Stores
- Specialty Stores
- Online Sales Channel
- Application
- Food
- Pharmaceutical
- Cosmetic
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Rising Demand in Hotel/Restaurant/Catering
The rapid expansion of the hotel/restaurant/catering sector is increasing the demand for mushrooms swiftly. The rising adoption of mushrooms as a meat substitute coupled with increasing vegan populations is anticipated to further drive the market growth. Plant-based food trends in the HoReCa industry in various regions and categories will expand in the coming years which will also drive the market for meat substitutes like mushrooms, plant-based sausages, chickpeas, and many others. The plant-based trend is expected to see new formats, sophisticated alternatives, all because of health-conscious consumers. Delivering raw material of premium quality is a prerequisite for market players to flourish since the returns here are substantially attractive in the HoReCa segment than retail. Thus, driving the market growth over the forecast period.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report on Mushroom Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Asia Pacific Holds Maximum Market Share
Asia Pacific is expected to dominate the growth of Mushroom Market in 2021. The major driving factors for the market are presence of developing countries in the region. Additionally, presence of countries such as China and India is offering the large base of consumers for mushrooms. Thus, providing the opportunity for the market. Moreover, growing veganism and health- conscious customers’ population and increasing disposable income is further propelling the market growth over the forecast period.
List of Prominent Players in the Mushroom Market:
- Bonduelle Group
- Costa Group
- CMP Mushroom
- Drinkwater Mushrooms
- Green yard
- Monaghan Group
- Monterey Mushroom Inc
- OKECHAMP S.A
- Shanghai Fengke Biological Technology Co. Ltd.
- The Mushroom Company
Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on "Mushroom Market Size, Share & Trends Analysis Report by Type (Button, Shiitake, Oyster, Matsutake), by Form (Fresh, Processed), by Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores, Online Sales Channel), by Application (Food, Pharmaceutical, Cosmetic), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/mushroom-market-564008
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Mushroom Market?
- How will the Mushroom Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Mushroom Market?
- What is the Mushroom market drivers and restrictions?
- What will be the CAGR and size of the Mushroom Market throughout the forecast period?
Recent Developments:
January 2021: South Mill Champs Expands Mushrooms Processing Capabilities with the Acquisition of The Mushroom Company
This market titled “Mushroom Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Parameter | Details |
Market Size Provided for Years | 2016-2028 |
Base Year | 2021 |
Historic Years | 2016-2020 |
Forecast Years | 2022-2028 |
Segments Covered |
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Region & Counties Covered |
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Companies Covered |
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Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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