Shiitake Mushroom Market to Garner $4.7 Billion, Globally, By 2030 at 8.3% CAGR, Says The Brainy Insights

The shiitake mushrooms have several medicinal values such as lower the risk of cancer and heart diseases, which will increase their demand in the market.

Newark, May 03, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global shiitake mushroom market is expected to grow from USD 2.3 billion in 2021 to USD 4.7 billion by 2030, at a CAGR of 8.3% during the forecast period 2022-2030.

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Shiitake mushrooms are increasingly being used in medicines for the treatment of cardiovascular diseases and help in managing weight as they have fewer calories in them. The increasing population of vegans is also driving the growth of the market. In addition to this, the growing application of shiitake mushrooms in the food processing industry is driving market growth. However, when the shiitake mushrooms are used in an excessive amount as medication or when it is consumed uncooked, it may be dangerous for the consumer and can cause blood problems, stomach pains, and skin edema. It can also cause increased sensitivity to the skin when exposed to suns rays, and in some people, it may cause breathing issues or trigger allergic skin reactions which is a restraint for the market growth. The emerging application of shiitake mushrooms in the cosmetic industry is an opportunity that is expected to propel market growth. The cultivation of shiitake mushrooms requires high investment and long time commitment for any returns due to which several manufacturers are hesitant in entering the market which is a challenge for the growth of the market.

Competitive Strategy

To enhance their market position in the global shiitake mushroom market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

● Highline mushrooms planned on investing USD 20 million for the establishment of the second crossfield mushroom farm which will be built adjacent to the first crossfield mushroom farm.
Market Growth & Trends

Shiitake Mushrooms are the second most popularly consumed mushrooms in the world as they have high nutritional and medicinal value. Nowadays people are more focused on improving their lifestyle and diet habits. People are becoming aware of the health problems that they face after consuming processed and unhealthy food. So, they are shifting towards functional foods and beverages. These foods provide the required amount of nutrition and reduce the risk of getting ill. These foods are gaining high popularity among health-conscious people which drives the market for shiitake mushrooms as they are being used in the manufacture of several functional foods. The outbreak of Covid-19 helped people realize the importance of their immunity system and a large population started focusing on consuming food with a high nutritional value which helps in increasing the immunity system. Shiitake mushrooms are also being used in medicine for lowering levels of cholesterol in the blood, acting as an anti-aging agent, treatment of diabetes, eczema, colds, and flu, and also helping in treating prostate or breast cancer.

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Key Findings

● In 2021, the fresh segment dominated the market with the largest market share of 43% and market revenue of 0.9 billion.

The product type segment is divided into fresh, frozen, and dried. In 2021, the fresh segment dominated the market with a market share of around 43% and market revenue of 0.9 billion. The increase in the number of consumers focusing on fresh and unprocessed shiitake mushrooms to gain maximum health benefits is driving the segmental growth.

● In 2021, the conventional segment accounted for the largest share of the market, with 58% and market revenue of 1.3 billion.

The category segment is divided into organic and conventional. In 2021, the conventional segment accounted for the largest share of the market, with 58% and market revenue of 1.3 billion. The conventional shiitake mushrooms are way cheaper than the organic ones as they do not require any additional cost for production and easily be grown on the field which is driving the growth of conventional shiitake mushrooms.

● In 2021, hypermarkets & supermarkets accounted for the largest share of the market, with 32% and market revenue of 0.7 billion.

The distribution channel segment is divided into convenience stores, hypermarkets & supermarkets, specialty stores, and online sales channels. In 2021, the hypermarkets & supermarkets accounted for the largest share of the market, with 32% and market revenue of 0.7 billion. Hypermarkets and supermarkets are easily available in each corner of the country whereas people from all age groups can easily shop from them. These hypermarkets and supermarkets have a large option of shiitake mushrooms with better discounts which attract more customers.

Regional Segment Analysis of the Shiitake Mushroom Market

● North America (U.S., Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)

Among all regions, the Asia Pacific region emerged as the largest market for the global shiitake mushroom market, with a market share of around 41.8% and 0.9 billion of the market revenue in 2021. The region has the presence of the largest producers such as Japan and China. China engages in the production of shiitake mushrooms and expects to meet the external and internal consumers’ demand. The Asia Pacific region is also an emerging economy and the food processing industry in this region is growing rapidly which is increasing the demand for shiitake mushrooms.

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Key players operating in the global Shiitake Mushroom Market are :

● Bonduelle SA
● Modern Mushroom Farms INC.
● Banken Champignons
● Oyster Island Mushrooms LLC
● Brewer's Mushrooms
● White Mountain Mushrooms, LLC.
● Monterey Mushrooms, Inc.
● Hirano Mushroom LLC
● Rain Forest Mushrooms
● Rocky Bottom Mushrooms LLC

This study forecasts revenue at global, regional, and country levels from 2022 to 2030. The Brainy Insights has segmented the global shiitake mushroom market based on the below-mentioned segments:

Global Shiitake Mushroom Market by Product Type:

● Fresh
● Frozen
● Dried

Global Shiitake Mushroom Market by Category:

● Organic
● Conventional

Global Shiitake Mushroom Market by Distribution Channel:

● Hypermarkets & Supermarkets
● Convenience Stores
● Specialty Stores
● Online Sales Channel

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About the report:

The global shiitake mushroom market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

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