Mushroom Market Size, Share, Growth Analysis - Industry Forecast 2023-2030 (2024)

Mushroom Market size was valued at USD 50.3 billion in 2019 and is poised to grow from USD 55.18 billion in 2023 to USD 126.95 billion by 2031, growing at a CAGR of 9.7% in the forecast period (2024-2031).

Mushrooms are fleshy, nourishing fruit bodies of certain macrofungal groups that can be hand-picked and grow underground or above ground. Its edibility is defined by the absence of hazardous effects on humans, as well as a pleasant flavour and aroma. The global mushroom market is witnessing a significant growth in the demand for mushrooms with each passing year. They are a healthy and nutritiousfood that can be used in many different dishes. They are also relatively easy to grow, so they are becoming more popular with farmers and home gardeners alike. Additionally, mushrooms can be used as a natural source of medicine, and many people believe that they have health benefits.

US Mushroom Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

For better understanding, we have segmented the global mushroom market by type and form. Based on type, mushroom market is categorized into: button mushroom, shiitake mushroom, oyster mushroom, and others. Based on form, mushroom market is categorized into fresh mushroom, frozen mushroom, dried mushroom, and canned mushroom. Based on region, the global mushroom market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.

Button Mushroom Holds the Over 60% of the Global Mushroom Market

In 2021, the button mushroom contributed over 61.8% to the global mushroom market in terms of volume. Over the forecast period, the segment is expected to grow at a CAGR of 8.9%. They are commonly cultivated all over the world due to their numerous nutritional benefits and the fact that their spores need less time to incubate. Furthermore, the mushroom market is likely to be driven by their lower cost compared to their competitors.

On the other hand, shiitake mushroom is one of the popular varieties around the world, owing to its deep savory flavors and several health advantages. Fresh or processed versions, such as dried shiitake mushrooms, are available. However, dried shiitake mushrooms are more popular due to their umami quality.

Mushroom Market Analysis by Form

The fresh mushroom segment is likely to continue dominating the global mushroom market. The segment accounted for over 89.5% of total mushroom market revenue in 2021. Fresh mushrooms have seen significant growth in demand in recent years as a result of an increased number of consumers focused on organic and unprocessed food consumption to reap the most health advantages from the product. Due to their short shelf life, fresh form distribution is difficult for producers and distributors. However, advances in technology, such as the use of modified environment packaging, have reduced the obstacles associated with mushrooms' short shelf life, supporting segment expansion.

Mushroom Market Driver

• Increasing consumption of mushrooms in restaurants, supermarkets, and cafeterias is likely to drive mushroom market growth. Furthermore, shifts in consumer preferences toward vegan foods and increased demand for meat replacements are expected to drive mushroom market. For instance, Button and shiitake mushrooms are high in protein, making them appealing meat replacements for customers. These are the most important mushroom industry trends.

Mushroom Market Restraint

• Mushrooms have a very short shelf life
• Mushroom farming is very labor-intensive and has significant operating costs, which limits the mushroom market expansion
• To meet the demand for mushroom, some of the farmers in developing nations have been employing harmful production methods, such as the usage of excessive pesticides and fertilizers.
• Mushroom spores can cause allergy and other respiratory disorders, posing a risk to those who work in the mushroom industry.

To attract environmentally concerned consumers and strengthen the brand position, key players operating in developed mushroom markets are increasingly emphasizing sustainable production. Monaghan Mushrooms, for example, plans employ reusable and recyclable packaging by 2025 to improve corporate sustainability. As a result, in the coming years, sustainability in business operations ranging from compost preparation and cultivation to packing is expected to become a key factor in the mushroom market.

Mushroom Market Top Players Company Profiles

• Costa Group Holdings Limited
• Monaghan Mushrooms Ltd.
• Agro Dutch Industries Ltd.
• The Mushroom Company
• Bonduelle SA
• Monterey Mushrooms, Inc.
• Okechamp SA
• The Champignon Group
• Phillips Mushroom Farms
• Hughes Mushroom
• Scelta Mushrooms BV
• Greenyard NV
• Drinkwater Mushrooms Ltd.
• Shanghai Finc Bio-Tech Inc.
• Gourmet Mushrooms, Inc.
• Hirano Mushroom LLC
• Banken Champignons Group BV
• Modern Mushroom Farms
• South Mill Champs
• Delftree Mushroom Company

Mushroom Market Recent Developments

• In May 2022, Meati, a start-up that makes whole-cut meat substitutes from mushroom roots has released its first steak fillet product. Meati's steak fillet is created from mycelium, the vegetative portion of fungus that consists of thread-like strands, and is available direct-to-consumer through the brand's website.
• In May 2022, Upexi, a division of Grove Inc. and leading producer in mushroom market, has launched a medicinal mushroom product line that is available directly to consumers and on Amazon. The company sells mushroom extracts in the United States. The USDA Certified Organic brand offers a full line of liquid extracts (tinctures) and gummies, with cultivation in the Pacific Northwest and extraction/formulation in California.

• Mushrooms are high in antioxidants, polyphenolics, terpenoids, selenium, polysaccharides, and vitamins, all of which have excellent antioxidant, anti-aging, anti-wrinkle, skin brightening, and moisturizing properties. Additionally, customers are responding positively to products with natural or clean label labels. As a result, cosmetic businesses are increasingly producing mushroom-based skincare to meet evolving consumer preferences.
• Premium items made with natural and organic ingredients are more expensive, but consumers are willing to pay a higher price for them. Furthermore, the growing popularity of vegan diets is likely to boost demand for meat substitutes such as mushrooms in the food and dietary supplement industries, which is expected to prove beneficial for mushroom market.

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research. We have identified some of the key dominating segments of the mushroom market by offerings and verticals.

According to our analysis, rising demand for mushrooms, which leads to increasing investment by key players and the government to expand edible mushroom production is driving mushroom market growth. Mushrooms are grown commercially on a large scale in countries like China, the United States, and several European countries. Mushroom consumption in European and Asian countries is expected to expand significantly throughout the forecast period, owing to increased production and a favorable global trade environment for mushrooms.

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mushroom Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Mushroom Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.