Mushroom is a type of fungi species that has produces spores like pollen or seeds and contains a high content of protein and fiber. There is a variety of mushrooms available some of which are edible and few are not edible. Edible mushrooms can be classified into button, oyster, porcini, and chanterelles. Edible mushroom contains a high content of vitamins B and powerful antioxidant called selenium, which boost the immune system and prevent cells and tissue from damage. Among all the edible mushroom, white button mushroom is one of a rich source of vitamin D because whether they are highly exposed to UV lights which boost the concentration of vitamin D. Mushroom is gaining huge due to its various medicinal properties as it lowers cholesterol, especially in overweight adults.
The global mushroom market is estimated to account for slightly less than US$ 43.4 billion in terms of value in the year 2018 and it predicted to grow at a CAGR of 8% during the forecast period (2019-2027)
Growing demand for brown mushrooms due to its high nutritional value is projected to propel the market growth of mushrooms. Brown market mushrooms are experiencing an increase in sales of portabella and crimini varieties of brown mushrooms, around the globe. Brown mushroom is gaining traction over traditional mushrooms due to high vitamin, mineral, and dietary fiber content. This factor is expected to accelerate the market growth of mushrooms over the forecast period.
Increasing production of mushroom-based products by the manufacturer is projected to propel the market growth of mushroom. For instance, in February 2019, South Mill Champs, North America's largest mushroom growers, has announced the introduction of the company's new snack food venture, mushrooms Snacks. The brand aims to provide great tasting, better-for-you snacks using mushrooms grown and handpicked on the South Mill farms in Kennett Square, Pennsylvania, the mushroom capital of the world.
Improper storage of mushrooms due to lack of refrigeration of fresh mushrooms promotes microbial growth is expected to restrict the consumption of mushrooms. The growth of harmful bacteria may lead to losses of firmness and texture. Moreover, storing fresh mushrooms on the airtight container with refrigeration can also lead to browning and spoilage of mushrooms. All these factors are expected to hamper the market growth of mushroom.
On the basis of form, fresh mushrooms has dominated the global mushroom market in 2018 with a 56.7% of market share in terms of value, followed by processed mushrooms.
Growing demand for commercial mushroom from restaurants, cafeterias, supermarkets, and hotels is anticipated to foster market growth over the forecast period. Moreover, shifting preferences of consumers towards vegan food coupled with the rising demand for plant-based protein and shiitake mushrooms &button mushrooms are a rich source of protein sources making ideal meat substitutes is fueling further fueling market growth. Hence, rising demand for vegan food product and protein-based mushroom is expected to fuel the market growth.
Growing initiatives by governments and international agencies to enhance the mushroom quality by conducting new research and development (R&D) programs is expected to augment market growth. Moreover, biotechnology laboratories ate also playing an important role in the mushroom breeding process that leads to better mushroom yield. Hence, such technological advancements and rising government initiatives are expected to accelerate the market growth of mushrooms over the forecast period.
Key players operating in global mushroom market are Bonduelle Fresh Europe, Costa Group, Drinkwater’s Mushrooms Limited, Greenyard NV (Lutece Holdings B.V.), Monaghan Mushrooms Ireland, Monterey Mushrooms Inc., Okechamp S.A., Shanghai Finc Bio-Tech Inc., Shanghai Finc Bio-Tech Inc., and CMP Mushrooms.
Few Recent Developments
Greenyard NV (Lutèce)