Growing Health-Conscious Population is Escalating the Demand for Mushroom

Mushrooms are a rich source of various nutritional contents including selenium, vitamin D, vitamin B12, and many more. Therefore, the consumption of mushrooms is rising at a significant pace as consuming mushrooms aids in reducing the risk for prostate & breast cancer along with other chronic diseases including heart disease, dementia, etc. For instance, as per research conducted in Japan, the people who consumed mushrooms once or twice in a week had an 8% lower risk of developing prostate cancer in comparison to those who ate mushrooms at intervals of less than once a week. Owing to the growing consumption of mushrooms coupled with the increase in the R&D investment by key industry players is also adding to the pace of market growth globally.?

The recent COVID-19 pandemic has disrupted the world like never before and is bringing economies to a halt. It was estimated that the global pandemic will cause a decline in major economies GDP by at least 2.9% over 2020. However, this forecast was already restated to a GDP loss of 4.5%. The coronavirus outbreak has put lockdown restrictions all over the world has brought many factories on standstill, disrupted the supply chain, and has affected the trade of mushrooms adversely. Thereby, affecting the overall product consumption.

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According to UnivDatos Market Insights (UMI)’ research report “Global Mushroom Market Analysis, 2020”, the mushroom market is projected to grow at a CAGR of XX% during 2021-27F. A rise in seed funding and series funding is one of the prominent reasons which are driving the market of mushroom. For instance, in August 2021, Fable Food Co, a mushroom-based protein company has acquired $6.5 million in seed funding as it seeks to expand its business in the US, UK, and Asia.?

Based on the application, the market is fragmented into food, pharmaceutical, and cosmetics. The food segment accounted for the largest share in 2020 and is anticipated to register a lucrative CAGR during the forecast period. This is because the growing popularity of the overall health benefits provided by the mushrooms is leading to the increase in consumption of mushrooms among fitness enthusiasts. For instance, in 2020, the per capita consumption of fresh mushrooms in the United States totaled around 2.79 pounds.?

Hypermarket & Supermarket Segment to Witness Robust growth

Based on distribution channels, the market is segmented into hypermarkets & supermarkets, convenience stores, grocery stores, and online. The hypermarkets & supermarkets segment had the highest revenue and CAGR growth in the analyzed period as there is an increase in the number of hypermarkets and supermarkets selling mushrooms. However, the online segment is also anticipated to grow with a considerable CAGR of XX% during the forecast period.?

Asia-Pacific to Grab Lion’s Share, and witnessed Explicit Growth

Based on the region, North America dominated the global mushroom market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the increase in consumption of mushrooms in many APAC countries. For instance, in 2018,?the volumetric consumption of mushrooms in the APAC region was 10.25 million tons and this number is anticipated to grow at a significant pace in the upcoming years. Asia-Pacific is expected to skyrocket with a CAGR of XX% in the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “Global Mushroom Market Analysis, 2020”.?

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Mushroom Market include Basciani Foods Inc., Monaghan Mushrooms, BioFungi GmbH, Mush-Boom Costa, Bonduelle, Weikfield Foods Pvt. Ltd., Greenyard, Valley Mushrooms, SA Mushrooms, Scelta Mushroom BV, among others. The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.

§?In July 2021, VidaCap launched a new range of adaptogenic mushroom extracts from several different species of fungus, including Turkey Tail, Lion's Mane, Reishi, Maitake, and Cordyceps.

§?In March 2021, New Wave Holdings Corp. launched its first mushroom products in a new functional mushroom collection, which will live under the Way of Will brand.

“Global Mushroom Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for mushroom providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1.?????By Product Type (Button, Shiitake, Oyster, Others)

2.?????By Form (Fresh, Processed)

3.?????By Application (Food, Pharmaceutical, Cosmetics)

4.?????By Distribution Channel (Hypermarket & Supermarket, Convenience Stores, Grocery Stores, Online)

5.?????By Region (North America, Europe, Asia-Pacific, Rest of the World)

6.?????By Company (Basciani Foods Inc., Monaghan Mushrooms, BioFungi GmbH, Mush-Boom Costa, Bonduelle, Weikfield Foods Pvt. Ltd., Greenyard, Valley Mushrooms, SA Mushrooms, Scelta Mushroom BV, etc.)

Key questions answered in the study:

1.?????What are the current and future trends of the mushroom industry?

2.?????How the industry has been evolving in terms of product type, form, application, and distribution channel?

3.?????How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.?????What are the key growth drivers and challenges for the mushroom industry?

5.?????What is the customer orientation, purchase behavior, and expectations from the mushroom firms across various regions?