Mushroom Market to Hit USD 128.11 Bn by 2031, at a CAGR of 9.8% | Costa Group, Drinkwater's Mushrooms Limited

Market Overview:

The mushroom market is estimated to be valued at USD 66.58 Bn in 2024 and is expected to reach USD 128.11 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.

Market Dynamics:

The mushroom market is expected to witness significant growth over the forecast period owing to rising health awareness among consumers and high protein content of mushrooms. Mushrooms are low in calories and rich in protein. They also contain fiber, vitamins, and minerals which make them healthy ingredients for various recipes. Additionally, mushrooms have various medicinal properties as they contain selenium, pantothenic acid and other nutrients that support immune health and reduces risks of cancers. The increasing demand for plant-based proteins across developed nations is also expected to support the growth of the mushroom market during the forecast period.

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Mushroom Market Drivers, Restrains, Opportunities and Trends

Increasing Consumer Awareness about Health Benefits of Mushrooms is Driving the Market Growth

Consumers are becoming more health conscious and are demanding food products that are nutritious and provide health benefits. Mushrooms are considered a superfood due to their high nutritional value and various health benefits. They are low in calories and fat but high in protein. Mushrooms also contain antioxidants, selenium, copper, potassium and vitamin D which are essential for boosting immunity and reducing chances of diseases. Research also proves mushrooms are effective in reducing risk of cancer, diabetes, heart disease and high blood pressure. Due to these proven health benefits, demand for mushrooms among health conscious consumers is rising significantly. This is a major driver for growth of global mushroom market in the forecast period.

Increasing Vegan and Vegetarian Population Offers Lucrative Opportunities

The global vegan and vegetarian demographic is rising sharply, especially among health conscious millennials and Gen Z. As per industry estimates, the number of vegans increased by 600% between 2014 to 2019. For vegetarians and vegans, mushrooms act as an excellent meat substitute in various cuisines and dishes due to their texture and nutrition. Mushrooms can be roast, sauteed or used minced to mimic various meat dishes. It is very suitable for vegan burger patties, chick'n nuggets etc. With growing demand for plant-based diets, the mushroom market has immense untapped potential to emerge as an alternative protein source. Leading food companies are innovating various vegan mushroom based products to cater this consumer segment. This presents lucrative opportunities for market players in the forecast period.

Increasing Popularity of Exotic and Specialty Mushroom Varieties world-wide

Earlier, only regular mushroom varieties like button mushrooms, oyster mushrooms, shiitake mushrooms dominated global production. However, with rising interest in new flavours and experimentation in culinary practices, demand for exotic and specialty mushroom varieties is increasing rapidly worldwide. Popular exotic mushrooms in the market currently are lionsmane mushroom, turkey tail mushroom, chanterelle mushroom amongst others. These have distinct taste and texture and growing popularity due to assumed health benefits. Commercial cultivators are recognizing the lucrative potential and are actively investing and scaling up exotic mushroom production. This will revolutionize the mushroom industry bringing more diversity in varieties sold. According to forecasts, exotic mushroom varieties will see a double digit growth from 2024. Their demand remains robust even during price fluctuations of regular mushroom, making this a noteworthy trend for the overall mushroom market.

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Top Companies Featured in This Report:

• Costa Group
• Drinkwater's Mushrooms Limited
• Greenyard NV (Lutece Holdings B.V.)
• Monaghan Mushrooms Ireland
• Monterey Mushrooms Inc.
• Okechamp S.A.
• Shanghai Finc Bio-Tech Inc.
• Shanghai Finc Bio-Tech Inc.
• CMP Mushrooms.

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Trends in Navigation Keyword Market:

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Report Highlights:

📈 Examination of navigation keyword market share at both country and regional levels

📈 Thorough analysis of the competitive landscape and emerging trends

📈 Detailed review of product advancements, technological developments, drivers, and limitations

📈 Strategic recommendations tailored for key business segments based on market insights

📈 Valuable guidance for newcomers venturing into the navigation keyword market

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Author Bio:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

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