Mushroom Market: Current Analysis and Forecast (2021-2027)

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 it provides strong umami flavor and several health benefits.

The deficiency and inadequacy of micronutrients constitute a global health issue. Despite the abundant sunshine present in many of the countries across the globe, there has been a rise in the number of people with vitamin D deficiency owing to the lack of food fortified with, vitamin D. For instance, as per recent observational data, nearly 40% of the Europeans are vitamin D deficient and almost 13% are severely deficient. Owing to these facts and the increase in health-conscious population, there has been growing demand for mushrooms among the consumers as mushrooms contain Vitamin D and have the ability to synthesize it when exposed to UV light or sunlight exposure.

Furthermore, the rising demand for clean label cosmetics and growing consumer awareness regarding the product formulation and ingredients is gaining significant traction in the market. Therefore, many beauty & personal care product manufacturers are being increasingly using plant-based ingredients while formulating their products which in turn is expected to have a positive impact on the demand for mushrooms. For example, as per the study published in 2019, bets-glucan, found in mushrooms aids in improving the skin barrier, making it particularly attractive to those with sensitive skin. Also, the different varieties of mushrooms can provide unique beauty benefits due to which it has been touted by many skincare experts. For example, the Shiitake mushroom, one of the most readily eaten mushrooms is rich in kojic acid and helps to brighten the skin, fades dark spots and acne scars, and treat hyperpigmentation.

Based on the product type, the market is fragmented into button, shiitake, oyster, and others. The button segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027. However, the shiitake mushroom is also expected to grow in the forthcoming years.

Based on the form, the mushroom market has been bifurcated into fresh and processed. The fresh segment grabbed XX% market share in 2020 and captured XX% market revenue in 2020 owing to the high demand for fresh mushrooms among the consumers.

Based on the application, the market is fragmented into food, pharmaceutical, and cosmetics. The food segment grabbed XX% market share and gathered USD XX Mn in 2027. Moreover, this segment is expected to reach USD XX Mn by 2027 with a growth of XX% CAGR during 2021-2027.

Based on the distribution channel, the market is segmented into hypermarkets & supermarkets, convenience stores, grocery stores, and online. The hypermarket & supermarket segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027F. However, the online segment is expected to grow at a significant pace in the upcoming years.

For a better understanding of the market adoption of the Mushroom Market, the market is analyzed based on its worldwide presence in the 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. Asia-Pacific constitutes a major market for the Mushroom Market industry and generated revenue of USD XX Million in 2020 owing to the growing consumption and production of mushrooms in Asian countries.

Some of the major players operating in the market are Basciani Foods Inc., Monaghan Mushrooms, BioFungi GmbH, Mush-Boom Costa, Bonduelle, Weikfield Foods Pvt. Ltd., Greenyard, Valley Mushrooms, SA Mushrooms, Scelta Mushroom BV, etc. Several M&As along with partnerships have been undertaken by these players to develop a wide variety of mushrooms.