Mushroom Cultivation Market To See Competition Rise At CAGR 7% |Monaghan Mushrooms, Mycelia, Hirano Mushroom LLC

Market Overview:
The Global Mushroom Cultivation market was estimated at USD 48.47 billion in 2021 and is projected to reach USD 77.83 billion by 2028, growing at a CAGR of 7%

Mushrooms, which are macro fungi or edible fungi, are visible to the naked eye and offer a wide range of essential nutrients. From common varieties to highly prized delicacies like truffles, mushrooms are cultivated extensively. During their growth, mushrooms can decompose organic matter and absorb nutrients from it. They are a valuable source of protein, containing all the essential amino acids, and can be purchased in fresh, dried, or canned forms.

The rising consumer preference for processed food items and diverse mushroom dishes is expected to fuel the market for mushroom cultivation in the coming years. The versatility and nutritional value of mushrooms make them a sought-after ingredient, leading to increased cultivation and market growth.

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Top Key Players Covered In Mushroom Cultivation Market
• Monaghan Mushrooms (Ireland)
• Walsh Mushrooms Group (Ireland)
• Mycelia (Belgium)
• South Mill Mushrooms Sales (US)
• Smithy Mushrooms Ltd. (UK)
• Rheinische Pilz Zentrale GmbH (Germany)
• Italspwan (Italy)
• Mushroom SAS (Italy)
• Hirano Mushroom LLC (Kosovo)
• Fujishukin Co. Ltd. (Japan)
• Lambert Spawn (US)
• Mycoterra Farm (US)
• Commercial Mushroom Producers (Europe)
• Societa Agricola Porretta (Italy)
• Bluff City Fungi (US) and other major players.

Market Dynamics:
Driver:
The increasing number of health-conscious individuals has significantly contributed to the growth and demand for mushroom cultivation in recent times. Mushrooms are highly valued for their nutritional composition, as they are rich sources of proteins, antioxidants, vitamins, and minerals. The antioxidant properties found in mushrooms have been associated with potential cancer prevention, including breast, lung, prostate, and other types of cancers. mushrooms contain potassium, which plays a crucial role in maintaining healthy blood pressure levels and reducing the risk of cardiovascular diseases and hypertension. The Surge in Health Awareness and Adoption of Veganism drives the Mushroom Market.

Opportunities:
Governments in numerous countries are making significant investments and implementing initiatives to support the production of high-quality and novel mushroom varieties. This focus on cultivating safe edible fungi, which can be both exported for profitability and consumed domestically, presents promising growth prospects in the coming years. The adoption of advanced pest management systems plays a vital role in controlling losses or damages in mushroom cultivation. Increasing Initiatives in Research and Development for Commercial Cultivation provides an opportunity for Mushroom Market.

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Segmentation Analysis Of Mushroom Cultivation Market
By Type, the button segment is anticipated to dominate the growth of the mushroom cultivation market over the analysis period. The button mushroom is a major consumed mushroom type in all types of the world as it offers potential health benefits. Increasing investments in research and development of white mushrooms to find the potential to prevent diseases such as diabetes and cancer, as well as its availability at reasonable prices as compared to other types of mushroom varieties, is anticipated to elevate the segment growth in the forthcoming years.
• Button
• Oyster
• Shiitake
• Porcini
• Chanterelle
• Shimeji

By Phase, the composting segment dominates the growth of the mushroom cultivation market. It is essential for almost all garden plants as it is a good soil amendment for vegetable gardens. The composting segment has high growth potential as it retains excess water, offers essential nutrients for plants, and is used widely by gardeners as the compost has more nitrogen content than any other compost. Along with other usages in the food industry, mushrooms are majorly cultivated for compost preparation which further drives the market growth.
• Composting
• Spawning
• Casing
• Pinning
• Harvesting

By Form, the fresh mushroom segment is expected to witness rapid growth and dominate the market over the forecasted years. Fresh mushrooms are witnessing a rise in demand due to the rising number of consumers that are focused on organic and unprocessed food consumption that offers maximum health benefits. The distribution of fresh forms is challenging for the distributors as well as the manufacturers because they have a limited shelf life. However, rapid advancements in technologies such as the use of modified atmosphere packaging have overcome such challenges, thereby propelling the segment growth.
• Fresh
• Dried
• Canned

By Distribution channel, the supermarkets/hypermarkets segment dominates the mushroom cultivation market. The penetration of supermarkets or hypermarkets is higher in developed countries such as North America and Europe, rather than the developing regions, which is the major for the segment growth. Also, the ease and convenience of availability of mushrooms are more in supermarkets which drives the market growth. Further, the online segment is expected to witness faster growth in the upcoming years owing to the discounts and offers provided by the segment.
• Direct to customers
• Supermarkets/Hypermarkets
• Online stores
• Convenience stores

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Regional Analysis of Mushroom Cultivation Market
The Asia Pacific region is the major dominating region of mushroom cultivation in recent years and is further anticipated to dominate the market growth over the projected period. The Asia Pacific region has the largest per capita consumption of mushrooms as compared to other countries which fuel the rapid growth. According to the China Business Research Institute, China is the largest edible mushroom producer out of all the regions which adds to the dominance of the Asia Pacific region. Moreover, the CCCFNA Edible Mushroom Branch also reported that the export of edible mushrooms is more from China. Mushrooms are also cultivated largely by other Asian regions like India, and Japan owing to the increasing veganism, rapid adoption of modern techniques for cultivation, and shifting consumer patterns towards nutrition-rich food.

The North American region is anticipated to have the second highest share of the mushroom cultivation market over the analysis period. The US is the major region that cultivates mushrooms on a large scale. The US government is continuously focusing on increasing import duties that further contribute to the higher prices of mushrooms. Mushrooms are proved to be one of the protein-rich vegan sources as they provide nearly 3.3 g of protein per 100 g of serving. Consumers in this region are ready to pay higher prices for premium products that are cultivated with organic and natural ingredients, which boosts the growth of mushroom cultivation in North America. Moreover, meat is a major source of protein in the western diet and the rising adoption of the population for a vegan diet is estimated to drive the growth of mushroom cultivation in the forecasted years.
• North America (US, Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

Key industry development in the Mushroom Cultivation Market
In October, 2021, Beatnic, a known vegan restaurant in New York City, announced its partnership with Fable Food Co, an Australian-based brand, for launching its first meaty mushroom product in the U.S. The Meat alternative is made from a real and natural shiitake variety of mushrooms and will be offered at all Beatnic's locations.

In December 2020, Eat the Change, a plant-based start-up, declared the launch of organic mushroom jerky which is made from organic shiitake mushrooms. The products were made available in all retail stores from January 2021. Eat the Change Organic Mushroom Jerky offers five flavors: Sea Salt + Cracked Pepper, Maple Mustard, Habanero BBQ, Hickory Smokehouse, and Teriyaki Ginger.

The Report Covers
• Comprehensive research methodology of the Mushroom Cultivation Market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Mushroom Cultivation Market.
• Insights about market determinants which are stimulating the Mushroom Cultivation Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.

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