Mushroom Market Size Worth $136.90 Billion By 2032 | CAGR: 9.1%

Mushroom Market Size Worth $136.90 Billion By 2032 | CAGR: 9.1%

The global mushroom market size is expected to reach USD 136.90 billion by 2032, according to a new study by Polaris Market Research. The report “Mushroom Market Share, Size, Trends, Industry Analysis Report, By Product (Button, Shiitake, Oyster, Matsutake, Truffles); By Application; By Form; By End Use, By Distribution Channel; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing popularity of vegetarian and vegan diets, and growing demand for healthy and natural food has been driving the demand for mushrooms in the last few years.  Several other factors projected to support the market include mushroom health benefits, increasing consumer awareness, growth of food industry, and innovations and product development in the market.

Mushrooms are a type of fungi that have been used for centuries in traditional medicine and cuisine. They come in various shapes, sizes, and colors, and can be found in almost every corner of the world. Several benefits of consuming mushrooms including its nutritional value, immune-boosting properties, anti-inflammatory properties, cancer-fighting properties, and improved cognitive functions. Mushrooms are low in calories, fat-free, and rich in nutrients such as potassium, vitamin D, and B vitamins.

For instance, as per USDA, the mushroom sales for 2021 – 2022 in the United States were 702 million pounds, worth 1.01 billion USD, while the total value of mushrooms sold in Canada rose 5.1% to $619.7 million in 2020.

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Higher operational costs in mushroom cultivation is a key factor that limits the growth of mushroom market. Another limiting factor for the mushroom market is the perishability of mushrooms. Perishability and seasonal fluctuations remained as the other key limiting factors of the market.

The covid 19 pandemic has had an overall positive impact on the long term growth of mushroom market. Increased demand, shifting of consumer dietary habits towards healthy and sustainable foods, e-commerce growth, and increased demand for mushrooms in home cooking are some the factors that supported the market in the pandemic period. Besides the positive side, disruptions in supply chains and reduced demand for mushrooms from foodservice and hospitality industry has hampered the market in the short run.

Mushroom Market Report Highlights

  • The button mushrooms segment accounted for the largest market share in 2022. Factors contributing to the dominance of the button mushroom segment include their wide availability, low cost, and ease of cultivation. Additionally, button mushrooms are highly nutritious, with low calories and high protein, making them a popular choice among health-conscious consumers.
  • The processed segment is expected to grow the fastest in the forecast period. Processed mushrooms offer several advantages over fresh mushrooms, including longer shelf life, greater convenience, easier transportability and can be used in a wide range of products, from soups and sauces to snacks and ready-to-eat meals, making them a versatile ingredient for food manufacturers.
  • The Supermarkets & Hypermarkets segment accounted for the largest market share in 2022. The dominance of supermarkets and hypermarkets in the mushroom market can be attributed to several factors including a large selection of fresh mushrooms and other produce, with regular deliveries to ensure freshness and availability and has a strong supply chain and logistics network.
  •   Asia Pacific region is projected for the highest market share in the forecasted period. Several factors contributing to the dominance of the Asia Pacific region in the mushroom market, including significant demand for food products, including mushrooms by large population, rapid urbanization, and increasingly adopting advanced cultivation and production techniques, such as automation and vertical farming.

Polaris Market Research has segmented the Mushroom Market report based on product, form, application, distribution channel, and region:

Mushroom Market, Product Outlook (Volume, Kilotons; Revenue - USD Billion, 2019 - 2032)

  • Button
  • Shiitake
  • Oyster
  • Matsutake
  • Truffles
  • Others

Mushroom Market, Form Outlook (Volume, Kilotons; Revenue - USD Billion, 2019 - 2032)

  • Fresh
  • Processed
    • Frozen
    • Canned
    • Dried

Mushroom Market, Application Outlook (Volume, Kilotons; Revenue - USD Billion, 2019 - 2032)

  • Food
  • Pharmaceuticals
  • Cosmetics

Mushroom Market, Distribution Channel Outlook (Volume, Kilotons; Revenue - USD Billion, 2019 - 2032)

  • Direct to Customer
  • Grocery Stores
  • Supermarkets & Hypermarkets
  • Convenience Stores
  • Online Stores

Mushroom Market, Regional Outlook (Volume, Kilotons; Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa