The mushroom market size is expected to reach$53,342.0 million by 2027 at a CAGR of 9.3%from 2021 to 2027. Mushrooms have a considerably short shelf life, which is expected to adversely affect the market. However, various governments and foreign agencies are continuously investing in R&D to cope up with this issue of shorter shelf life. Several developments in biotechnology have enhanced breeding of mushrooms, which is expected to drive the mushroom market during the 2021 to 2027. In addition, improvements in food preferences and rise in knowledge of balanced diets among consumers are expected to propel the market growth.
Rise in commercial consumption of mushrooms in restaurants, cafeterias, and hotels and shift in consumer preference toward vegan food drive the growth of the global mushroom market. However, short shelf life and requirement of high operational costs and intensive labor hinder the market growth. On the contrary, rise in demand for meat substitutes is expected to open new opportunities for the market players in the future.
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Major market players
- The Mushroom Company
- SA Mushrooms
- Monaghan Mushrooms
- NABIA
- White Prince Mushrooms
- Basciani Foods
- To-Jo Mushrooms
- Valley Mushrooms
- Mush-boom Costa Pty. Ltd
- Ann Miller’s Specialty Mushrooms
Covid-19 scenario:
- The Covid-19 outbreak and followed pandemic severely affected the the mushroom industry due to travel restrictions and disruption in the supply chain. Moreover, several manufacturing plants stopped production due to low market demand.
- Due to strict safety and precaution measurements imposed by several governments, laborers chose to go back to their homes, leaving the work on the farm. The loss of workforce significantly affected the production of mushrooms.
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The shiitake segment dominated the market
By type, the shiitake segment held the largest share in 2019, accounting for more than two-fifths of the global mushroom market, as it helps in reducing the risk of heart disease, autoimmune disorders, diabetes, and certain types of cancers. However, the button segment is projected to register the highest CAGR of 11.4% during the forecast period, as they are very high in minerals and vitamins.
The specialty stores segment held the lion’s share
By distribution channel, the specialty stores segment held the largest share in 2019, contributing to more than one-third of the global mushroom market, as they offer discounts and benefits of immediate gratification. However, the online sales channel segment is projected to manifest the highest CAGR of 12.2% during the forecast period, owing to rigorous online marketing, availability of detailed information, and the option of free home delivery.
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North America held the largest share
By region, the market across North America held the largest share in 2019, accounting for more than one-third of the market, as the North American industry focuses on creative and advanced technologies to boost the production of mushrooms. However, the global mushroom market across Asia-Pacific is anticipated to register the highest CAGR of 11.8% from 2021 to 2027. This is owing to advancements in technology, increase R&D investments, and rise in demand for mushrooms because of their high nutritional properties.
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