Mushroom Global Market Opportunities and Strategies to 2032

This report describes and explains the mushroom market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.

The global mushroom market reached a value of nearly $57.5 billion in 2022, having grown at a compound annual growth rate (CAGR) of 9.5% since 2017. The market is expected to grow from $57.5 billion in 2022 to $86.5 billion in 2027 at a rate of 8.5%. The market is then expected to grow at a CAGR of 10.6% from 2027 and reach $143.1 billion in 2032.

Growth in the historic period resulted from strong economic growth in emerging markets, the increasing vegan population, the increased awareness about health benefits of mushrooms, and the rise in demand for processed foods. Factors that negatively affected growth in the historic period were the COVID-19 pandemic and stringent regulations.

Going forward, the increasing government support, rapid urbanization, the rising demand for food products, the increasing vegetarian population, the rising population, and the growing number of health-conscious consumers will drive the growth. Factors that could hinder the growth of the mushroom market in the future the Russia-Ukraine war, the rising interest rates, and reductions in free trade.

The mushroom market is segmented by type into button mushrooms, shiitake mushrooms, oyster mushrooms. The button mushroom market was the largest segment of the mushroom market segmented by type, accounting for 46.3% of the total in 2022. Going forward, the shiitake mushroom segment is expected to be the fastest growing segment in the mushroom market segmented by type, at a CAGR of 8.8% during 2022-2027.

The mushroom market is segmented by form into fresh, frozen, dried, canned. The fresh market was the largest segment of the mushroom market segmented by form, accounting for 75.4% of the total in 2022. Going forward, the frozen segment is expected to be the fastest growing segment in the mushroom market segmented by form, at a CAGR of 9.0% during 2022-2027.

The mushroom market is segmented by application into food processing, retail outlets, food services, other applications. The retail outlets market was the largest segment of the mushroom market segmented by application, accounting for 59.0% of the total in 2022. Going forward, the food processing segment is expected to be the fastest growing segment in the mushroom market segmented by application, at a CAGR of 8.8% during 2022-2027.

The mushroom market is segmented by distribution channel into hypermarkets & supermarkets, convenience stores, specialty stores, online sales channel. The convenience stores market was the largest segment of the mushroom market segmented by distribution channel, accounting for 42.4% of the total in 2022. Going forward, the online sales channel segment is expected to be the fastest growing segment in the mushroom market segmented by distribution channel, at a CAGR of 9.1% during 2022-2027.

Asia-Pacific was the largest region in the mushroom market, accounting for 70.0% of the total in 2022. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the mushroom market will be Asia-Pacific and Western Europe where growth will be at CAGRs of 10.2% and 4.9% respectively. These will be followed by South America and North America where the markets are expected to grow at CAGRs of 4.4% and 4.1% respectively.

The global mushroom market is fragmented, and the market has a large number of players. The top ten competitors in the market made up to 5.52% of the total market in 2021. The market fragmentation can be attributed to the presence of large number of players in different geographies. Monaghan Mushrooms Ltd was the largest competitor with 1.72% share of the market, followed by Monterey Mushrooms Inc. with 1.31%, Giorgio Fresh Co with 1.20%, South Mill Champs with 0.52%, Costa Group Holdings Limited with 0.35%, Bonduelle Group with 0.17%, Greenyard NV with 0.15%, Banken Champignons B.V. with 0.04%, Scelta Mushroom BV with 0.03% and Drinkwater Mushrooms Ltd with 0.02%.

The top opportunities in the mushroom market segmented by type will arise in the button mushroom segment, which will gain $13.3 billion of global annual sales by 2027. The top opportunities in the mushroom market segmented by form will arise in the fresh segment, which will gain $21.7 billion of global annual sales by 2027. The top opportunities in the mushroom market segmented by application will arise in the food services segment, which will gain $8.3 billion of global annual sales by 2027. The top opportunities in the mushroom market segmented by distribution channel will arise in the hypermarkets & supermarkets segment, which will gain $9.9 billion of global annual sales by 2027. The mushroom market size will gain the most in China at $10.9 billion.

Market-trend-based strategies for the mushroom market include increasing investments in mushroom farms, focusing on strategic acquisition to expand their market presence, investing in advanced technology to reduce the production time and cost, focus on developing new and innovative mushroom varieties, and focus on product innovations.

Player-adopted strategies in the mushroom market include focus on enhancing business operations through the launch of new products and focus on enhancing operational capabilities through strategic acquisitions.

To take advantage of the opportunities, the recommends the mushroom companies to focus on product innovations, focus on adoption of technological advancements, focus on increasing investments in new mushroom farms, focus on fast-growing product types, expand in emerging markets, continue to focus on developed markets, expand through additional distribution partners, focus on strategic partnerships and collaborations, focus on mergers and acquisitions, focus on competitive pricing, focus on online marketing, continue to focus on b2b promotions, focus on urban population, continue to target fast-growing applications and increase focus on online consumers.