Selbyville, Delaware, March 05, 2024 (GLOBE NEWSWIRE) --
The mushroom market valuation is estimated to reach USD 102 billion by the end of 2032, as reported in a research study by Global Market Insights Inc.
Rising application potential in skincare and cosmetics to offer antioxidant and anti-inflammatory benefits will drive the demand for mushrooms. To cite an instance, in February 2023, mushroom-based skincare brand Neon Hippie was launched in the U.S. market. Moreover, extracts, such as chaga and tremella have turned as key ingredients in beauty products. The growing incorporation of mushrooms into beverages like coffee, tea, and smoothies through inclusion of extracts to render adaptogenic properties will also contribute to the market growth.
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Shiitake mushroom market is expected to exponentially expand through 2032, led by the emerging sustainable cultivation practices worldwide and the increasing consumer interest in functional foods. Considering their rich and smoky flavor, shiitake mushrooms are recording higher demand in various cuisines among both culinary and health-conscious circles. These mushrooms contribute to improved heart health as they contain compounds that support the immune system and possess anti-inflammatory properties. The ease of availability in processed forms, such as dried, powdered, and extracts will also boost the product demand.
The pharmaceuticals application segment is expected to record lucrative CAGR in the mushroom market from 2024 to 2032. The growth can be attributed to the rising emphasis on natural remedies and holistic health approaches. A variety of mushrooms like reishi, lion's mane, cordyceps, and chaga possess antioxidant, anti-inflammatory, immune-modulating, and adaptogenic effects, leading to their usage for purposes, such as development of supplements, extracts, and medicines. Several pharmaceutical companies are also diversifying their product lines for including mushroom-derived supplements and medicines. The ongoing research and studies for exploring the therapeutic potential of mushrooms will drive the segment growth.
Europe held significant share of the mushroom market in 2023 and is estimated to record exponential growth by 2032 driven by the higher adoption of vegetarian and vegan diets. As per the USDA Foreign Agricultural Service, Germany recorded the highest rate of vegetarianism in comparison to its European neighbors, reaching over 1.5 million people in 2022. The increasing imperative of sustainable agricultural practices is driving the need for environmentally friendly methods, such as organic mushroom farming and wild foraging. The rising prioritization of locally sourced and organic products is another major factor driving the regional industry growth.
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Some of the prominent mushroom suppliers and manufacturers include Bonduelle Group, Costa Group, Greenyard, Monaghan Group, Shanghai Finc Bio-Tech Inc., CMP Mushroom, Drinkwater Mushrooms, Monterey Mushroom, Inc., OKECHAMP S.A., and The Mushroom Company. These industry players are working on various strategies to ramp up their production capabilities to meet the rising consumer and end-user needs. For instance, in December 2023, Costa Group deployed live data for ensuring the maintenance of quality and safety standards in its mushroom operations.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Mushroom Market 3600 synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023 - 2032
2.3 Regional trends
2.4 Type trends
2.5 Form trends
2.6 Application trends
2.7 Distribution Channel trends
Chapter 3 Mushroom Market Insights
3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 China-U.S. trade war impact
3.4 Industry ecosystem analysis
3.5 Type & innovation landscape
3.6 Patent analysis
3.7 Key news and initiatives
3.7.1 Partnership/Collaboration
3.7.2 Merger/Acquisition
3.7.3 Investment
3.7.4 Product launch & innovation
3.8 Regulatory landscape
3.9 Impact forces
3.9.1 Growth drivers
3.9.2 Industry pitfalls & challenges
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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