Mushroom market to grow at a CAGR of 9.2% through 2021: A to Z Research

According to the report, global mushroom market was valued at over USD 35.08 billion in 2015, is expected to reach above USD 59.48 billion in 2021 and is anticipated to grow at a CAGR of slightly above 9.2% between 2016 and 2021.

Mushrooms are also known as toadstool belonging to the family of fungus and generally characterized as fruit bearing and spore forming fungus. Mushrooms are present in two types that are edible and toxic mushrooms. Edible mushrooms are either present below the ground known as hypogenous whereas epigeous are the mushrooms grow above the ground. Mushroom is gaining huge demand in recent times owing to its medical applications in medical. Mushroom contains calcium, phosphorus, vitamin B and vitamin D. They are considered under parasites group due to their dependency on other plants for food resource.

Mushroom consists of various nutritional factors which help in weight loss. It contains high proteins with low-cholesterol and low-fat content. Increasing demand from the food industries mainly drives the mushroom market. Moreover, growing number of health conscious populace coupled with the increase in demand for organic food aids the mushroom market growth. However, strict regulations for processing of mushrooms led by the FDA due to the presence of various harmful mushroom species may impede the growth of the market. In addition, the low shelf life of mushrooms is the other factor impacting on the growth of the mushroom market. Nonetheless, growing demand for mushrooms and escalating food chains and emerging food markets is likely to open a new avenue for the mushroom market in the near future.

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Based on the type the mushroom market can be segmented as milky mushroom, button, shiitake, oyster, paddy mushroom, winter mushrooms and reishi mushroom among others. Button mushroom held the largest market among all the other type segments owing to easy availability and great taste. Various application segments for the mushroom market include fresh mushroom, processed mushrooms such as dried, canned, frozen and others. Both fresh and processed mushrooms are used in food industry for the production of several food products. Some of the end users for the mushrooms market is food processing industry, medical and direct consumption. There has been immense growth in the food industry owing to rapid urbanization and growing population. Increasing demand for processed and packed food is driving the market for food industry which in turn expected to augment the demand for mushrooms.

Mushroom is very popular among the Asian countries especially in India, China, and Japan. Therefore, Asia Pacific dominates the mushroom market and is likely to gain traction in the coming years. This mainly attributes to mushroom is highly consumed food along with growing demand for organic and protein food. North America and Europe are potent markets for mushroom. Europe is considered to be the largest producing and processing region for mushroom. Increasing demand for organic and high protein content food in North America and Europe is expected to spur the growth of the market.  Latin America is anticipated to show decent growth in forecast period due to the use of mushroom in pizza and various different foods. The Middle East and Africa exhibits sustainable growth owning abundant raw resources.

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Some of the key players in the mushroom include Monaghan Mushrooms, Fresh Stock, Agro Dutch Industries Ltd, Bonduelle, Modern Mushroom Farms, Hughes Mushroom, Scelta Mushrooms BV, Drinkwater Mushrooms Ltd, Banken Champignons, the California Mushroom Farms Inc, Monterey Mushrooms, Inc, Ecolink Baltic, OKECHAMP S.A., The Mushroom Company, Weikfield Foods Pvt. Ltd and Kulkarni Farm Fresh Pvt. Ltd among others.

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