Global Mushrooms Market to Witness Vast Growth Opportunities in Asia Pacific

The global market for mushrooms is presently expanding at a promising pace and is expected to continue its healthy run in the next few years as well. A number of factors, right from the increase in consumption of processed foods, to rising consumer awareness about health benefits of mushrooms stimulating the growth of the market. Over the last decade, key players in the global mushroom market have emphasized on garnering the attention of the consumers by keeping pace with their consumption patterns. The vendor landscape is highly fragmented and most of the market’s leading companies are concentrated in China - the world’s leading manufacturer of mushrooms.

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In a recent report, Transparency Market Research (TMR) estimates that the market for mushrooms in Asia Pacific, which relatively has vast untapped growth opportunities when compared to regions such as North America and Europe, is expected to also become one of the key consumers of mushrooms in the near future. The global market for mushrooms, which was pegged at US$34,100.0 mn in 2015, is expected to exhibit a CAGR of 8.2% from 2016 to 2024.

TMR analysts attempt to cover some of the most notable trends and opportunities that the global mushroom market presents to interested vendors:

Which regional market stands out in the global mushroom market?

Geographically, the market for mushrooms in North America presently dominates in terms of revenue contribution to the global market, accounting for over 34% of the overall market revenue in 2016. The region is expected to gain significant incremental opportunity in terms of revenue terms by the end of 2024 as well. The top spot of the North America market is attributed to the mounting demand for variety of mushrooms and related products and the region’s high dependence on mushrooms imported from other countries. Vast expenditure in research and development of more effective packaging for mushrooms is also a key factor to have driven the North America mushroom market up the ladder.

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However, while North America holds the top spot in the global mushroom market, the market in Asia Pacific is expected to lead in terms of rate of growth over the period between 2016 and 2024. Asia Pacific presents a highly conducive market for mushrooms owing to the thriving processed food industry, rising awareness about the vast health benefits of mushrooms among the population in emerging economies, and advancements in packaging technology. China’s position as the world’s leading manufacturer of mushrooms also positions the Asia Pacific mushroom market in a highly commanding spot.

What is one of present times’ most notable trend that could have a positive effect on the overall growth dynamics of the global mushrooms market?

The rising awareness among consumers regarding the vast health benefits of consuming mushrooms on a regular basis has opened up several new windows of opportunities for companies in the food and beverages sector. From introducing mushroom as a key ingredient in several snack recipes, companies are also increasingly foraying into the sector of mushroom-based drinks. Musroom-based drinks are prepared from a variety of mushrooms such as chaga, reishi, and cordyceps, and aid in improving immune system of the body and offer other benefits. Owing to such health benefits, these drinks are trending among health conscious consumers globally.

Companies such as Four Sigmatic, Sayan Health, and NordicNordic are offering a variety of mushroom-based drinks such as mushroom coffee mix, mushroom elixir mix, Chaga mushroom exilir mix, and other similar product varieties. The demand for these innovative drinks is expected to steadily rise on a global front, and in the near future, the segment of mushroom-based drinks is expected to emerge as one of the most promising product segments of the global mushroom market.

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