Global Mushroom Market Expected to Grow at a CAGR of 9.6%, Driven by Rising Demand for Sustainable and Plant-Based Products

The Mushroom market research report is broadly bifurcated in terms of product type, application spectrum, end-user landscape, and competitive backdrop, which would help readers gain more impactful insights into the different aspects of the market. Under the competitive outlook, the report's authors have analyzed the financial standing of the leading companies operating across this industry. The gross profits, revenue shares, sales volume, manufacturing costs, and the individual growth rates of these companies have also been ascertained in this section. Our team has accurately predicted the future market scope of the new entrants and established competitors using several analytical tools, such as Porter's Five Forces Analysis, SWOT analysis, and investment assessment.

The global mushroom market, valued at USD 50.40 billion in 2021, is set to witness a steady revenue CAGR of 9.6% during the forecast period. The increasing consumer preference for organic and vegan foods, coupled with growing awareness of mushrooms' nutritional benefits, is driving market expansion. The use of mycoproteins, derived from fermented mushroom spores, is revolutionizing the plant-based meat industry, with companies such as Quorn, Meat Foods, and MyForest Foods introducing mushroom-based meat alternatives like bacon.

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Mushrooms play a vital role in environmental sustainability. With over four million known mushroom species, mycelium, the root-like structure of fungi, is being explored for innovative solutions to pressing environmental challenges. Mycelium-based materials are emerging as a viable alternative to styrofoam packaging, which occupies around 30% of landfill space and takes centuries to decompose. This biodegradable alternative, made from mycelium mixed with agricultural byproducts like hemp and wood chips, decomposes within 45 days and is water-resistant.

The construction industry, which contributes nearly 39% of global carbon emissions, is also turning to mycelium-based materials as an eco-friendly alternative. Mycelium bricks, which are lightweight, flame-resistant, and insulating, offer a sustainable solution to traditional construction materials. A notable example is a fully compostable structure developed by The Living architectural firm in collaboration with Ecovative in New York, which won an architectural competition at MoMAPS1.

Mushrooms are also gaining traction as biofertilizers, helping reduce dependency on synthetic fertilizers that contribute to greenhouse gas emissions. Mycorrhizal fungi work symbiotically with plant roots, enhancing nutrient absorption and reducing the need for phosphate fertilizers. Scientists are researching methods to introduce these fungi into tropical soils to promote sustainable farming. Additionally, mushrooms have proven effective in environmental cleanup through a process known as mycoremediation. They can break down toxic compounds from oil spills, wildfires, and chemical contamination, as seen in their successful use after the COSCO-Busan oil spill in San Francisco and the California wildfires.

Mushroom-based sugar substitutes are also entering the market, with companies such as MycoTechnology developing fungi-based sweeteners to reduce the sugar content in processed foods. This initiative has attracted significant investment from major food corporations, including Bunge, Tyson Foods, and Kellogg, which have collectively contributed USD 82.6 million to the development of these alternatives.

Despite the promising growth, mushroom production faces challenges. Maintaining optimal temperature, light, and humidity conditions is crucial for consistent yields, requiring careful management and expertise. Additionally, pest control and the maintenance of appropriate pH levels add to the complexity and cost of cultivation.

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Market Segmentation Insights

The button mushroom segment accounted for the largest revenue share in 2021, owing to its widespread cultivation, nutritional benefits, and short incubation time. Button mushrooms are rich in antioxidants and vitamins, offering health benefits such as improved heart health and cancer prevention.

Regarding distribution channels, the offline segment, which includes supermarkets and local stores, held the largest market share in 2021. Consumers prefer purchasing fresh mushrooms in physical stores, where they can inspect product quality firsthand.

In terms of applications, mushrooms are being used in diverse industries, including meat alternatives, packaging, and fashion. The mushroom-based leather segment is projected to grow steadily, as brands such as Stella McCartney, Adidas, and Lululemon incorporate mycelium leather into their product lines. This sustainable alternative to traditional leather reduces environmental impact and the demand for animal-based materials.

With the mushroom industry expanding into multiple sectors, its role in sustainable solutions is becoming increasingly significant. The market's projected growth underscores the potential of mushrooms to reshape industries, from food production to construction, packaging, and fashion.

Competitive Landscape

The report presents a holistic investigation of the Mushroom business mechanism and growth-oriented approaches undertaken by the leading companies operating in this market. The report highlights the numerous strategic initiatives, such as new business deals and collaborations, mergers & acquisitions, joint ventures, product launches, and technological upgradation, implemented by the leading market contenders to set a firm foot in the market. Hence, this section is inclusive of the company profiles of the key players, total revenue accumulation, product sales, profit margins, product pricing, sales & distribution channels, and industry analysis.

Leading Players Profiled in the Report Include:

Bonduelle

Drinkwater Mushrooms

CMP Mushrooms

The Green Yard

Weikfield Foods PVT. LTD.

BioFungi GmbH

Monaghan Group

Highline Mushrooms

Monterey Mushrooms, LLC.

Basciani Foods

Costa's Pty Ltd.

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Mushroom Market Segmentation Analysis

For the purpose of this report, Emergen Research has segmented the global mushroom market based on product type, distribution channel, application, end-use, and region:

Product Type Outlook (Revenue, USD Billion; 2019-2030)

Oyster

Button

Truffle

Matsutake

Others

Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)

Online

E-commerce Platforms

E-Groceries

Offline Stores

Supermarkets

Convenience Stores

Others

Application Outlook (Revenue, USD Billion; 2019-2030)

Meat Alternative

Faux Leather

Coffee

Packaging

Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)

Food

Building & Construction

Pharmaceuticals

Cosmetics

Others

The global Mushroom market is classified into the following regions:

North America (the U.S., Canada)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Europe (the U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

The Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)

Key Points Covered in This Section:

Regional contribution

Estimated revenue generation

Vital data and information about the consumption rate in all the leading regional segments

An expected rise in market share

Forecast growth in the overall consumption rate

Report Highlights:

Besides offering a vivid depiction of the global Mushroom business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.

The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).

The report scrutinizes the salient factors influencing the growth of the market in the near future.

The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.

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