Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Canned Mushrooms Market - Insights
Canned mushroom are made from fresh mushroom by trimming, washing, and sorting and stored into sealed container. Specific temperature or heat is provide to these to assure preservation of the mushrooms. Canned mushrooms contain high quality protein and essential nutrients, which are an important part of a healthy diet.
Canned mushrooms provide nutrients ranging from protein, B vitamins and vitamin C, fiber, calcium, and minerals. Salt or monosodium glutamate and ascorbic acid is added to these mushrooms to improve its shelf life.
Canned mushroom offer several benefits such as low calories, low-sodium content, fat-free and cholesterol-free, which is vital for healthy cognitive functions and immune system. Furthermore, mushroom has anti-aromatase activity, which inhibit aromatase enzyme. Aromatase enzyme produces carcinogenic agent called estrogen, which stimulates growth of the hormone-receptor-positive breast cancer cells. Canned mushroom reduces the risk of developing cancer, which is driving growth of the market. According to the World Health Organization (WHO), cancer is a leading cause of death worldwide accounting for 8.8 million death cases due to cancer in 2015. The most common cancers are lung, breast, colorectum, and prostate cancer. However, availability of various alternatives such as dried and frozen mushrooms are expected to drive growth of the market.
According to a Coherent Market Insights’ study, global canned mushroom market was valued at US$ 9.7 billion in 2017 and is expected to witness a robust CAGR of 4.6% between 2017 and 2025. This significant growth in the canned mushroom market due to rising consumer awareness about nutritional value and health benefits of mushroom across the globe.
For instance, according to National Horticulture Board (NHB), protein in mushroom has high digestibility around 60-70% and it contains amino acids used as a healthy food. Furthermore, canned mushrooms are available throughout all the seasons of the year. Therefore, this is another major factor driving growth of the market.
Figure 1. Global Canned Mushroom Market Share, By Product Type, 2017
On the basis of product type, button canned mushroom segment is expected to witness significant growth in the market, due to rising demand for button mushroom in the market. According to The Agricultural and Processed Food Products Export Development Authority (APEDA), large scale of white button mushroom production is mainly centred in to Europe, North America, and Asia Pacific.
For instance, according to Indian Council of Agricultural Research, total mushroom production in India was valued at 0.13 million tons in 2017 with average growth rate of 4.3% from 2016. Out of total mushroom production, white button mushroom share was 73% followed by oyster mushroom (16%), paddy straw mushroom (7%) and milky mushroom (3%).
Figure 2. Global Canned Mushroom Market Share, By Region, 2017
North America canned mushroom market was valued at US$ 2.6 Billion in 2017. The U.S. held major market share in the North America canned mushroom market. High production and consumption of processed mushroom such as canned mushroom is increasing in North America and this is expected to positively impact on the total canned mushroom market.
For instance, according to U.S. Department of Agriculture National Agricultural Statistics (USDA), in the U.S., total mushroom market was valued at US$ 1.2 billion in 2016 with production of different mushrooms including varieties such as oyster mushrooms and shiitake grew by 4% from 2015 and reached to 25.4 million pounds with a sales value of US$ 92.6 million in 2016.
Key players operating in the canned mushroom market includes Costa Group, Okechamp SA., Monterey Mushrooms Inc., Greenyard, Prochamp, The Mushroom Company, Monaghan Mushrooms, Muniraj Mushroom Farm, Dhruv Agro, and Shanghai Finc Food Co., Ltd.