The global mushroom market was valued at USD 50.3 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 9.7% from 2022 to 2030. The growing global demand for protein-rich diets, driven largely by the rising vegan population, is anticipated to be a major factor propelling market growth. Mushrooms are increasingly recognized as a superfood due to their impressive nutritional profile, offering a wealth of essential nutrients, including selenium, vitamin D, glutathione, and ergothioneine. These nutrients play a crucial role in reducing oxidative stress, which helps lower the risk of chronic conditions such as cancer, heart disease, and dementia. Furthermore, mushrooms are known for their natural umami flavor, which enables consumers to reduce the amount of salt in their meals by 30-40%, offering significant health benefits.

Mushrooms are also gaining popularity as a protein-rich vegan food source. With approximately 3.3 grams of protein per 100 grams of serving, mushrooms are an excellent alternative to meat, making them a staple in vegan diets that seek to meet daily protein needs. The rising adoption of vegan diets worldwide is therefore expected to further increase the demand for mushroom-based products as protein alternatives to meat.

Gather more insights about the market drivers, restrains and growth of the Mushroom Market

In 2019, the U.S. was the second-largest producer of mushrooms, accounting for approximately 375 million kilograms of production. However, production in the country has been declining since 2017, with a decrease of 11% from 2017 to 2019. Despite this decline in domestic production, the demand for mushrooms from end-users has continued to grow, leading to a price increase of 6% in the 2017-2018 period and 3% in the 2018-2019 period. One contributing factor to the price rise has been the U.S. government’s increase in import duties on mushrooms, which has further inflated prices. As mushrooms are an important source of plant-based protein, they are gaining popularity in Western diets, where meat has traditionally been the primary source of protein. As more individuals adopt vegan and plant-based diets, mushrooms are expected to be an increasingly preferred option to meet daily protein needs.

Regional Insights:

North America Mushroom Market Trends

North America, particularly the U.S. and Canada, holds a significant share of the global mushroom market due to the strong market penetration in these developed economies. Consumers in this region are willing to pay premium prices for high-quality mushrooms, particularly those produced using organic and natural methods. As the preference for vegan diets continues to grow, there is an increasing demand for meat replacers like mushrooms in both the food and dietary supplement sectors. This shift towards plant-based eating, combined with the rising awareness of the health benefits of mushrooms, is expected to drive continued market growth in North America over the forecast period.

Asia Pacific Mushroom Market Trends

The Asia Pacific region led the global mushroom market, accounting for over 78.6% of global revenue in 2021. Key markets within the region include China, Japan, Malaysia, India, and Australia. China is the largest producer of mushrooms in Asia Pacific, with a per capita annual consumption of up to 10 kg, making it a dominant player in the market.

The Asia Pacific region has a long-standing tradition of using mushrooms in its ancient medicine systems, such as Ayurveda and Traditional Chinese Medicine, where various mushroom species are used for their therapeutic properties. The prevalence of these traditional medicine practices, coupled with mushrooms’ low-calorie and high-nutrient value, is expected to drive demand for mushrooms, particularly due to their immunity-boosting properties. The growing emphasis on health-conscious diets and natural remedies is anticipated to further fuel the consumption of mushrooms in this region.

Europe Mushroom Market Trends

Europe is a significant consumer of mushrooms, relying heavily on imports to meet demand. The region's developed markets, particularly in Western Europe, have higher per capita incomes, which are expected to create additional opportunities for exotic and gourmet mushroom varieties. In 2019, mushroom imports into Europe were valued at approximately USD 183 million. However, the region was severely impacted by the COVID-19 pandemic, which disrupted supply chains and led to a reduction in imports from countries like China, Peru, and Chile. The pandemic also had a negative effect on local demand, particularly from hotels, restaurants, and food chains, as lockdowns and restrictions reduced consumer spending and eating out. Despite these setbacks, the long-term outlook for mushroom consumption in Europe remains strong, driven by growing consumer interest in health, sustainability, and plant-based diets.

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• The global plant-based meat market size was valued at USD 7.17 billion in 2023 and is expected to grow at a CAGR of 19.4% from 2024 to 2030.
• The global umami flavors market size was valued at USD 1.48 billion in 2023 and is expected to grow at a CAGR of 6.8% from 2024 to 2030.

Key Companies & Market Share Insights:

As the mushroom market grows, key players are increasingly focusing on sustainable practices to cater to an environmentally conscious consumer base. For example, Monaghan Mushrooms, a major player in the industry, aims to transition to reusable and recyclable packaging by 2025 as part of its broader sustainability strategy. This focus on sustainability in operations, ranging from compost preparation and cultivation to packaging, is expected to be a crucial factor shaping the future of the mushroom market.

The emphasis on sustainable production practices reflects the growing consumer preference for environmentally responsible businesses. This trend is likely to play a significant role in shaping brand positioning and customer loyalty as companies seek to align their operations with consumer values, particularly in markets where environmental concerns are becoming a priority. Additionally, innovations in cultivation technologies, packaging, and supply chain management will be essential in meeting the growing demand for mushrooms while ensuring sustainability.

Key Mushroom Companies:

• Bonduelle Group
• Costa Group
• CMP Mushroom
• Drinkwater Mushrooms
• Greenyard
• Monaghan Group
• Monterey Mushroom, Inc
• OKECHAMP S.A
• Shanghai Fengke Biological Technology Co., Ltd
• The Mushroom Company

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