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According to a new report published by UnivDatos, the Mushroom market was valued at USD 46 billion in 2022 & is expected to grow at a CAGR of ~9% from 2023-2030. The analysis has been segmented into Product Type (Button, Shiitake, Oyster, Others); Form (Fresh, Processed, Dried, Canned, Frozen); Application (Food, Pharmaceutical, Cosmetics); Distribution Channel Type (Hypermarkets & Supermarkets, Convenience Stores, Grocery Stores, Online); Region/Country.
The Mushroom market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Mushroom market. The Mushroom market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Mushroom market at the global and regional levels.
Key Market Opportunity
One of the main factors contributing to mushroom sales growth at the moment is the rising desire for natural, nutritious ingredients. Because they are low in calories, fat-free, and high in vitamins, minerals, and dietary fiber, mushrooms are praised for their nutritional worth. Mushrooms are also used more frequently in food processing as a flavor enhancer, ingredient, or independent product as a result of the rising demand for processed and convenience foods. Additionally, the popularity of plant-based diets is growing due to a number of reasons, including health awareness, environmental concerns, and ethical considerations.
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Fresh mushroom demand is on the rise, which is projected to accelerate market growth. Due to their limited shelf life, fresh mushrooms are in high demand due to rising consumer desire for uncooked and organic foods. Although we are aware that it is challenging for suppliers and producers to distribute fresh goods, the limitations associated with button mushrooms' short shelf life have been alleviated by the growth of innovative technologies.
In recent years, consumption of a diet high in protein has dramatically increased due to rising health consciousness among consumers globally. Because of their increasingly busy schedules, consumers are unable to regularly consume a diet that is nutritionally adequate, which leads them to look for nutrients in packaged food products.
COVID-19 Impact
The recent covid 19 pandemic has disrupted the world and has brought a state of shock to the global economy. All industries have suffered some form of loss due to the pandemic and the mushroom industry has not been left untouched by this unprecedented crisis of modern times. This industry has its share of challenges due to the COVID 19 pandemie as the lockdown restrictions have resulted in the widespread closure of many production functions. Also, there has been a decline in trade and transportation which has disrupted the supply chains of mushrooms because of which its market has witnessed shortfalls.
· Based on the product, oyster mushroom, button mushroom, shiitake mushroom, and others. The button mushroom dominated the mushroom market and is expected to grow at a considerable CAGR during the upcoming years
· Based on the form, the mushroom market has been bifurcated into fresh, processed, dried, canned, and frozen. The fresh segment is expected to garner the major market share in 2022 and will grow at a remarkable CAGR.
· Based on the application, the market is fragmented into food, pharmaceutical, and cosmetics. The food segment grabbed highest market share.
· Based on distribution channel, the mushroom market is divided into supermarkets & hypermarkets, convenience stores, grocery stores, and online. Due to the ease of shopping and product delivery, the online retail segment is predicted to experience the highest CAGR during the projection period.
Mushroom Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)
· Rest of the World
North America region shows growth potential as a result of the product's rapidly expanding demand, which is linked to its numerous health benefits. In order to improve their production capacity and maintain their leadership in the local market, prominent market players in North America are implementing cutting-edge cultivation techniques as well as a variety of merger and acquisition strategies. Additionally, the government's assistance in accelerating harvesting speeds contributes to growth. For instance, the National Institute of Food and Agriculture of the U.S. Department of Agriculture awarded about USD 4 million to the College of Agricultural Sciences at Pennsylvania State in September 2021 to support a group of researchers as they look into technologies to address labor shortages on farms that cultivate edible fungi.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the mushroom market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Recent Developments:
· In January 2021, South Mill Champs Expands Mushrooms Processing Capabilities with the Acquisition of The Mushroom Company.
· In October 2021, Big Mountain Foods, a Vancouver-based food manufacturer, announced its partnership with Sprouts Farmers Market, a leader in gut-healthy foods, to launch the first Lion’s Mane mushroom product line across North America.
· In June 2023, MycoTechnology’s Alan Hahn on the magic of mycelium, global expansion, and staying focused. MycoTechnology has since commercialized two platforms utilizing mycelium, the filament-like roots of mushrooms: ClearIQ bitter blockers and flavor modulators and FermentIQ fermented plant proteins.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the mushroom market?
• Which factors are influencing the mushroom market over the forecast period?
• What are the global challenges, threats, and risks in the mushroom market?
• Which factors are propelling and restraining the mushroom market?
• What are the demanding global regions of the mushroom market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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