Mushroom

Mushroom

Mushroom is an umbrella-shaped fruiting body of a certain macro-fungi group that is fleshy and nutrient-rich. They can appear above or below the ground and are edible as they provide a strong umami flavor and several health benefits. Button mushroom cultivation was once restricted to the winter months, but thanks to technological advancements, these are now produced on small, medium, and big farms all year round using varying degrees of technology. It is a gilled fungus that naturally occurs throughout Europe and North America, despite the fact that it is currently considerably more common.

The Global Mushroom Market is anticipated to grow at a skyrocket CAGR of ~9% during the forecasted period. The growing need for white button mushrooms for clinical research, growing knowledge of their health advantages, and consumer preferences for plant-based foods all have an impact on the expansion of the worldwide mushroom market.

• Based on the product, oyster mushroom, button mushroom, shiitake mushroom, and others. The button mushroom dominated the mushroom market and is expected to grow at a considerable CAGR during the upcoming years as it is one of the most popular varieties of mushrooms that is consumed and produced regularly all over the world. For instance, the national annual production of mushrooms in India is estimated to be approx. 50,000 tonnes with almost 85% of this production being of a button mushroom.
• Based on the form, the mushroom market has been bifurcated into fresh, processed, dried, canned, and frozen. The fresh segment is expected to garner the major market share in 2022 and will grow at a remarkable CAGR. This is mainly owing to the high demand for fresh mushrooms as they are more nutritious as compared to the other ones. Fresh white mushrooms are rich in riboflavin niacin, copper, pantothenic acid, and selenium. Additionally, the increase in the number of consumers who are inclined towards healthier food options with no added preservatives is also propelling the growth of the market.
• Based on the application, the market is fragmented into food, pharmaceutical, and cosmetics. The food segment grabbed the highest market share. Manufacturing companies are increasingly introducing packaged products to tap the markets of processed and convenience food products. Increasing usage of powder form and extracts by food and cosmetics manufacturers is expected to support industry growth over the projected period. For instance, functional beverages infused with mushrooms were introduced in February 2021 by FreshCap Mushrooms Ltd. of the United States.
• Based on distribution channel, the mushroom market is divided into supermarkets & hypermarkets, convenience stores, grocery stores, and online. Due to the ease of shopping and product delivery, the online retail segment is predicted to experience the highest CAGR during the projection period. Online shops also provide a huge selection of products at steep savings. As of 2022, supermarkets and hypermarkets were the dominant distribution channels due to the availability of a wide selection of these products in one location and the simplicity of purchasing. The expansion of supermarkets and hypermarkets has been hampered by rising competition from online grocers that sell mushrooms at reduced rates as well as shifting consumer behavior.
• For a better understanding of the market adoption of the mushroom market, the market is analyzed based on its worldwide presence in countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and Rest of APAC), and Rest of World. North America region shows growth potential as a result of the product's rapidly expanding demand, which is linked to its numerous health benefits. In order to improve their production capacity and maintain their leadership in the local market, prominent market players in North America are implementing cutting-edge cultivation techniques as well as a variety of merger and acquisition strategies. Additionally, the government's assistance in accelerating harvesting speeds contributes to growth. For instance, the National Institute of Food and Agriculture of the U.S. Department of Agriculture awarded about USD 4 million to the College of Agricultural Sciences at Pennsylvania State in September 2021 to support a group of researchers as they look into technologies to address labor shortages on farms that cultivate edible fungi.
• Some of the major players operating in the market are Basciani Foods; Monaghan Group; BioFungi GmbH; Costa's Pty Ltd; White Prince Mushrooms; Weikfield Foods Pvt. Ltd.; Valley Mushrooms; Greenyard; SA Mushrooms; Scelta Mushroom BV. Several M&As along with partnerships have been undertaken by these players to develop a wide variety of mushrooms.