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Oyster Mushroom Cultivation Market Size, Trends, Drivers, Growth Rate And Future Expansion To 2033
Oyster Mushroom Cultivation Market
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According to The Business Research Company's, The oyster mushroom cultivation market size has grown strongly in recent years. It will grow from $2.79 billion in 2023 to $2.94 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to culinary popularity, cultural and culinary traditions, vegetarian and vegan diets, ease of cultivation, short cultivation cycle, market demand for exotic mushrooms.
The oyster mushroom cultivation market size is expected to see strong growth in the next few years. It will grow to $3.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing culinary diversity, rising awareness of sustainable protein sources, global population growth, expansion in culinary tourism, international trade opportunities. Major trends in the forecast period include home-based mushroom cultivation, novel oyster mushroom varieties, hydroponic and vertical farming techniques, innovations in food processing, collaborations in agricultural research.
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Market Drivers and Trends:
An increase in the production and cultivation of mushrooms is expected to propel the growth of the oyster mushroom cultivation market going forward. Mushroom cultivation refers to the technology of growing mushrooms using plants, animals, and industrial waste. The increase in the production and cultivation of mushrooms helps to develop various varieties of mushrooms, including oyster mushrooms as well. For instance, in August 2022, according to the National Agricultural Statistics Service, a US-based government agency company, mushroom cultivators specializing in Agaricus mushrooms in Chester County, Pennsylvania, experienced a 1 percent growth in production, reaching 321 million pounds during the 2021-2022 growing season, with the value of this output rising by 3 percent to $329 million compared to the preceding season. Therefore, the increase in the production and cultivation of mushrooms is driving the growth of the oyster mushroom cultivation market.
New cultivation techniques have emerged as a key trend gaining popularity in the oyster mushroom cultivation market. Major companies operating in the oyster mushroom cultivation sector are focused on developing new techniques to sustain their position in the market. For instance, in May 2022, Nuvedo, an India-based mushroom production company, launched mushroom growing kits based on cultivation technology. This mushroom kit gives a practical, low-tech, user-friendly, hands-on way for beginners to get fresh, organic mushrooms at home.
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Major Key Players of the Market:
Walsh Mushrooms Group, Shanghai Xuerong Bio-Technology Co Ltd, Chengde Runlong Food Co LTD., Monaghan Group, Mountain Meadow Mushrooms, Mycelium Organic Farms Pvt Ltd, Hirano Mushroom LLC, Fungi Ally, Phillips Mushroom Farms, Cascadia Mushrooms, Mushroom Mountain, Smithy Mushrooms Ltd., Hunan Chunhua Biotech Co Ltd., Oyster Creek Mushroom Company, Valley Mushrooms, North Spore, Gourmet Mushrooms Inc., Luoyang Fudamei Agricultural Production Co Ltd, Italspwan di Valentino e Massimo Sartor S.S., Fujishukin Co Ltd., Greensfarm Sp. z o.o., Kalina Boczniaki, Pol Grzyb Wojciech Wizinski, Societa' Agricola Porretta - Le Ghiottone, Eden Specialty Crops, Windy Hill Mushrooms, Mother Earth Mushrooms, Black Pearl Mushrooms, New Earth Organic Farm, Central Valley Mushroom Farm, Prairie Fungi
Oyster Mushroom Cultivation Market 2024 Key Insights:
• The oyster mushroom cultivation market size is expected to see strong growth in the next few years. It will grow to $3.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Surging Mushroom Production Boosts Oyster Mushroom Cultivation Market
• New Cultivation Techniques Drive Advancements In Oyster Mushroom Cultivation Market
• Asia-Pacific was the largest region in the oyster mushroom cultivation market in 2023
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