Mushroom Market Expected to Hit a Valuation of US$ 116.8 Billion, With a CAGR of 6.1% During 2024-2032

BROOKLYN, NEW YORK, USA, February 6, 2024 /EINPresswire.com/ — The latest report by IMARC Group, titled “Mushroom Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the global mushroom market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global mushroom market size reached US$ 67.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 116.8 Billion by 2032, exhibiting a growth rate (CAGR) of 6.1% during 2024-2032.

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Factors Affecting the Growth of the Mushroom Industry:

• Rising Health and Wellness Awareness:

Mushrooms are recognized for their nutritional value and potential health benefits. They are a source of essential nutrients such as vitamins, minerals, and dietary fiber. Certain mushroom varieties, such as shiitake and maitake, are also known for their immune-boosting properties. As consumers seek healthier food choices, mushrooms are increasingly incorporated into their diets, contributing to the market’s growth. The demand for fresh and processed mushrooms, including mushroom-based supplements and extracts, has surged due to their perceived health advantages.

• Expanding Culinary Applications:

The mushroom market benefits from its expanding culinary applications across various cuisines. Mushrooms offer unique flavors, textures, and umami characteristics that enhance the taste of dishes. They are used in a wide range of culinary creations, including soups, sauces, stir-fries, pizzas, and gourmet dishes. The popularity of plant-based diets and vegetarianism has further boosted the demand for mushrooms as meat substitutes, especially in products like mushroom-based burgers and meat alternatives. The versatility of mushrooms in both traditional and innovative recipes has led to their increased consumption.

• Sustainable and Eco-Friendly Farming Practices:

Mushroom cultivation is recognized for its sustainable and eco-friendly farming practices. Mushrooms are typically grown on organic waste materials, such as agricultural byproducts and wood chips. This minimizes environmental impact and reduces waste. Additionally, mushroom farming is known for its efficient use of water and land resources compared to traditional crop farming. As sustainability becomes a key consideration for consumers, the eco-friendly nature of mushroom cultivation aligns with their preferences. Sustainable practices and certifications, such as organic and biodynamic farming, enhance the market’s appeal to environmentally conscious consumers.

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Mushroom Market Trends:

Advances in mushroom cultivation techniques and the development of new mushroom varieties play a role in market growth. Growers are adopting modern methods to improve yields, reduce production time, and enhance crop quality. Additionally, efforts to cultivate exotic and specialty mushroom varieties, such as truffles and matsutake, cater to the gourmet and high-end culinary markets. The introduction of novel mushroom varieties with unique flavors and textures expands culinary possibilities and consumer interest. Moreover, the globalization of the mushroom market has led to increased international trade in mushroom products. Countries with strong mushroom production capabilities export their products to meet the demand in other regions.

Competitive Landscape with Key Players:

• Agro Dutch Industries Ltd.
• Bonduelle Fresh Europe
• Drinkwater Mushrooms Ltd.
• Monaghan Mushrooms Inc.
• Monterey Mushrooms Inc.
• OKECHAMP S.A.
• Shanghai Finc Bio-Tech Inc.
• The Mushroom Company

Mushroom Market Report Segmentation:

By Mushroom Type:

• Button Mushroom
• Shiitake Mushroom
• Oyster Mushroom
• Others

Button mushroom represented the largest segment, due to its widespread cultivation and popularity in various culinary applications.

By Form:

• Fresh Mushroom
• Canned Mushroom
• Dried Mushroom
• Others

Fresh mushrooms represented the largest segment, as they are preferred for their taste and versatility in cooking.

By Distribution Channel:

• Supermarkets and Hypermarkets
• Grocery Stores
• Online Stores
• Others

Retail represented the largest segment, reflecting the convenience of purchasing mushrooms in grocery stores and supermarkets.

By End Use:

• Food Processing Industry
• Food Service Sector
• Direct Consumption
• Others

Direct consumption represents the market, indicating that a significant portion of mushrooms are consumed by individuals or households.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Europe was the largest market, likely due to the strong culinary tradition of incorporating mushrooms into European cuisine and the presence of a well-established mushroom industry in the region.

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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