Global Mushroom Market to Reach USD 133.5 Billion by 2032, Driven by Medicinal Awareness and Plant-Based Diet Adoption

The global mushroom market is witnessing a phase of robust expansion, underpinned by rising consumer awareness of health, wellness, and sustainable nutrition. Valued at US$ 64.6 billion in 2023, the industry is projected to grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2032, reaching an estimated US$ 133.5 billion by the end of 2032. This strong growth trajectory reflects mushrooms' evolving role from a traditional food ingredient to a high-value functional and therapeutic product across food, nutraceutical, and pharmaceutical industries.

According to analysts, the increasing recognition of mushrooms' medicinal properties, combined with the rapid adoption of plant-based diets globally, is reshaping demand dynamics and opening new avenues for innovation and investment.

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Market Overview: Mushrooms are a category of fungi distinguished by their rich umami flavor, fleshy texture, and wide diversity of shapes, sizes, and nutritional profiles. Traditionally used in global cuisines-from soups and curries to pizzas and gourmet dishes-mushrooms have evolved into an essential component of modern diets and wellness regimens.

Beyond culinary use, mushrooms offer substantial medicinal and functional benefits. They are rich in vitamins, antioxidants, minerals, fiber, and bioactive compounds that support immune function, cardiovascular health, and anti-inflammatory responses. Certain varieties are increasingly valued for their cognitive and stress-reducing properties.

Recent market trends indicate a growing shift toward mushroom-based protein alternatives, functional food products, and advanced cultivation techniques, including vertical farming and controlled-environment agriculture. Companies are also focusing on sustainable production of therapeutic mushrooms such as lion's mane, reishi, cordyceps, and shiitake, which are gaining popularity within the global wellness community.

Key Market Growth Drivers

Rising Awareness of Medicinal Properties
One of the primary drivers of mushroom market growth is the increasing awareness of their medicinal benefits. Mushrooms possess anti-bacterial, anti-inflammatory, and immune-boosting properties, making them attractive as natural health solutions. They are also a source of essential nutrients such as potassium, vitamin D, protein, and dietary fiber.

Specific mushroom types like lion's mane and cordyceps are widely recognized for enhancing cognitive health, reducing stress, and improving immune function. Clinical and scientific research into the therapeutic effects of mushrooms has further strengthened consumer confidence. Studies suggest that mushroom extracts may play a role in managing Parkinson's disease, Alzheimer's disease, hypertension, stroke, and stress-related disorders, accelerating their adoption as complementary and preventive remedies.

Growth in Adoption of Plant-Based Diets
The global shift toward plant-based diets is another major catalyst for mushroom market expansion. Rising concerns about personal health, animal welfare, and environmental sustainability are prompting consumers to reduce meat consumption and seek alternative protein sources.

Mushrooms are cholesterol-free, low in fat and calories, and offer a meat-like texture, making them ideal for vegan and vegetarian diets. They are increasingly incorporated into plant-based meat substitutes, protein bars, mushroom jerky, and ready-to-eat snacks, addressing the growing demand for protein-rich, convenient, and sustainable food options.

According to industry estimates, plant-based meat and dairy sales are expected to reach US$ 162.0 billion by 2030, with nearly 1.5 billion people worldwide regularly following plant-based diets. This trend significantly strengthens long-term demand for mushrooms across food processing and retail channels.

Market Challenges and Opportunities

Despite strong growth prospects, the mushroom market faces certain challenges. These include high dependency on climatic conditions, perishability of fresh mushrooms, fluctuations in raw material and energy costs, and the need for stringent food safety compliance. Small-scale growers may also face barriers related to technology adoption and access to capital.

However, these challenges are counterbalanced by significant opportunities. Advancements in controlled-environment agriculture, vertical farming, and automation are helping mitigate climate risks and improve yield consistency. Growing demand for functional foods, nutraceuticals, and pharmaceutical applications presents new high-margin opportunities for producers. Additionally, sustainable cultivation and waste-to-value practices are enabling companies to improve profitability while meeting environmental goals.

Regional Outlook

Asia Pacific: Leading the Global Market
Asia Pacific dominates the global mushroom market and held the largest share in 2023. Favorable climatic conditions, abundant resources, and a long-standing cultural tradition of mushroom consumption in countries such as China, Japan, and South Korea are key factors supporting regional leadership.
China is the world's largest mushroom producer, accounting for nearly 75% of global production. In Japan, mushrooms are a staple food, with average daily consumption estimated at 16 grams per person, according to published studies. These factors, combined with strong domestic demand and export capabilities, continue to bolster Asia Pacific's market position.

Europe and Other Regions
Europe represents another significant market, driven by strong agricultural infrastructure and rising appreciation for culinary diversity. Countries such as Germany, Poland, France, and the Netherlands are major producers. Stringent food safety and quality regulations in the European Union have resulted in premium mushroom offerings and higher value realization.
North America, Latin America, the Middle East & Africa, and Oceania are also witnessing steady growth, supported by increasing health awareness, expansion of retail distribution, and growing adoption of functional and organic food products.

Market Segmentation Overview

The global mushroom market is segmented by form, type, end-use, and region.
By form, the market includes fresh, processed, dried, frozen, canned, and other mushroom products. Fresh mushrooms dominate consumption, while processed and dried variants are gaining traction due to longer shelf life and convenience.
By type, button mushrooms account for a substantial share, followed by shiitake, oyster, and other specialty mushrooms.

By end-use, the market serves the food processing industry, retail outlets, and food services, with food processing emerging as a high-growth segment due to demand for ready-to-eat and plant-based products.

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Analysis of Key Players and Strategies

Leading players in the global mushroom market are focusing on technological innovation, capacity expansion, and product diversification. Investments in advanced cultivation techniques, R&D, and sustainable farming practices are central to maintaining competitiveness.

Key strategies include mergers and acquisitions, regional expansion, outsourcing, and research collaborations to strengthen supply chains and broaden product portfolios across food, cosmetics, and pharmaceutical applications.

Prominent companies operating in the global mushroom market include Costa Group, Bonduelle SA, Greenyard NV, Monterey Mushrooms Inc., Monaghan Mushrooms, Okechamp S.A., The Mushroom Company, Drinkwater's Mushroom Limited, Shanghai Finc Bio-Tech Inc., and CMP Mushrooms.

Recent Developments

• In March 2024, YATS Corporation Tokyo, a global producer of shiitake mushrooms, announced plans to boost the cultivation and marketing of shitake mushrooms in the Meghalaya, India. Around 5,000 farmers in the region are set to benefit from the state-funded program, which aims to improve agriculture infrastructure and focus on income generation.

• In February 2024, Spacegoods, a London-based wellness start-up that focuses on mushrooms, raised a seed round of EUR 2.9 Mn from foodtech specialist venture capital firm Five Seasons Ventures, with additions from Redrice Ventures, Slingshot Ventures, and G-FUND. The investment is likely to help the company diversify in Europe and build better and healthier products.

Investment Landscape and ROI Outlook

The mushroom market presents an attractive investment landscape, supported by rising consumer demand, expanding applications, and favorable long-term fundamentals. Investments in functional mushrooms, plant-based protein products, and sustainable cultivation technologies are expected to deliver strong returns. With an anticipated CAGR of 8.4%, the sector offers compelling ROI potential for agribusiness firms, food manufacturers, and wellness-focused investors.

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Frequently Asked Questions (FAQs)

1. How big was the mushroom market in 2023?
The global mushroom market was valued at US$ 64.6 billion in 2023.

2. How is the mushroom market expected to grow by 2032?
It is projected to grow at a CAGR of 8.4% from 2024 to 2032, reaching US$ 133.5 billion.

3. What are the key factors driving mushroom demand?
Rising awareness of medicinal properties and increasing adoption of plant-based diets are the primary growth drivers.

4. Which region dominated the global mushroom market?
Asia Pacific held the largest share of the global market in 2023.

5. Who are the key players in the mushroom industry?
Major players include Costa Group, Bonduelle SA, Greenyard NV, Monterey Mushrooms Inc., Monaghan Mushrooms, Okechamp S.A., The Mushroom Company, Drinkwater's Mushroom Limited, Shanghai Finc Bio-Tech Inc., and CMP Mushrooms.

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