Increased commercial consumption of mushrooms in restaurants, supermarkets, cafeterias, and hotels is likely to drive mushroom market demand and growth during the forecast period. Furthermore, shifts in consumer attitudes toward vegan foods and increased demand for meat replacements are projected to drive future mushroom market growth. Button and shiitake mushrooms, for example, are high in protein, making them appealing meat replacements for customers. These are the most important mushroom industry trends. Furthermore, the mushroom market is predicted to rise due to a shift in customer preferences toward processed food consumption. Mushrooms, on the other hand, have a very short shelf life, which limits market expansion. Furthermore, mushroom farming is very labor intensive and has significant operating costs, which limits the market expansion. Furthermore, the mushroom industry's rapid growth has led to the employment of harmful production methods, such as the usage of excessive pesticides and fertilizers. As a result, mushroom consumption has decreased as customers have become more health conscious and prefer organic foods. Furthermore, mushroom spores cause allergies and other respiratory disorders, posing a risk to those who work in the mushroom industry. As a result, equipment such as respirators are employed to mitigate these effects, which adds to the cost of production and slows market growth, particularly in developing countries.
Region Analysis:
Traditional medicine systems, such as Ayurveda and Traditional Chinese Medicines, which use different species of mushroom for the treatment of various diseases, are particularly prevalent in the Asia Pacific region. The demand for mushrooms in the region is projected to be driven by their low calorie and high nutritional benefits, as well as their immunity-boosting capabilities.
Key Development:
- Monaghan Mushrooms plans to use reusable and recyclable packaging by 2025 in order to make their business more sustainable. As a result, in the coming years, sustainability in business operations ranging from compost preparation and cultivation to packing is projected to become a crucial feature in the industry.
- FreshCap Mushrooms Ltd., based in the United States, released mushroom-infused functional beverages in February 2021.
- In 2021, Odyssey Wellness LLC has announced the launch of their ready-to-drink (RTD) line of organic functional mushroom elixirs, which are expected to disrupt the $208 billion worldwide functional beverage sector and the $16.83 billion US functional mushroom industry by 2026. Odyssey is aiming for consumers who are looking for healthier beverage options that also have functional benefits.
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Segmentation:
The global Mushroom market accounted for US$ 46.78 billion in 2020 and is estimated to be US$ 111.24 billion by 2030 and is anticipated to register a CAGR of 9.2%. The global mushroom market is segmented on the basis of type, application and region.
- Based on type, the global mushroom market is divided into button, shiitake, oysters, and others.
- Based on application, the target market is bifurcated into fresh, processed, dried, frozen, canned, and others.
Competitive Analysis:
Key players operating in the global mushroom market are Agro Dutch Industries Ltd., The Mushroom Company, Banken Champignons BV, OKECHAMP S.A., Bonduelle SA, Modern Mushroom Farms, Inc., Drinkwater Mushrooms Ltd., Hughes Mushroom, Weikfield Foods Pvt. Ltd., Scelta Mushrooms BV.
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