The global mushroom market reached 17.25 million tonnes in 2023 and is expected to grow from 18.39 million tonnes in 2024 to 32.04 million tonnes by 2032, reflecting a compound annual growth rate (CAGR) of 7.18% throughout the forecast period (2024–2032). In 2023, the Asia Pacific region held the largest share, accounting for 79.83% of the global market. The mushroom market in the United States is also projected to experience significant growth, with forecasts indicating it will reach 1.22 million tonnes by 2032. This growth is being driven by increased domestic investments in advanced cultivation methods and a rise in mergers and acquisitions by international firms aiming to strengthen their footprint in the U.S. market.

Although mushrooms are commonly considered vegetables, they are in fact edible fungi and not part of the plant kingdom. They provide a variety of beneficial nutrients, such as riboflavin, potassium, vitamin D, selenium, and others. Clinical and preclinical studies have shown that mushrooms support immune health, assist in weight control, and contribute to overall wellness. Furthermore, regular consumption has been linked to a lower risk of diseases like prostate and breast cancer, which is helping to fuel market demand.

Information Source: https://www.fortunebusinessinsights.com/industry-reports/mushroom-market-100197 

Market Segmentation

The mushroom market is segmented by type into button, shiitake, oyster, and other varieties. Based on form, the categories include fresh, canned, frozen, and dried mushrooms. Geographically, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

• Analysis of current trends impacting market growth
• Assessment of major growth drivers and limitations
• Overview of the impact of COVID-19 on the industry
• Strategic insights for future expansion
• Summary of recent industry innovations

Drivers & Restraints

Growing Health Awareness Driving Demand for Nutritious Foods

With rising health consciousness, there is increasing demand for foods that are low in fat and free of cholesterol, which is boosting mushroom consumption. Their use is widespread in households, restaurants, hotels, and cafeterias due to their fiber content and enzymes that promote gut and immune health. These qualities are expected to support continued demand and contribute to global market growth.

Advancements in research and development related to commercial mushroom farming are anticipated to open new avenues for expansion. The increasing popularity of exotic mushroom varieties and the expansion of international trade are also expected to be key market drivers.

Given that mushroom farming is labor-intensive, with nearly one-third of total production costs attributed to labor, producers are turning to automation, robotics, and advanced monitoring systems to improve productivity. Investment in automated cultivation technologies is likely to further drive market expansion.

However, high operational expenses may act as a barrier and limit broader market growth.

Regional Insights

Asia Pacific to Maintain Market Leadership Due to High Consumption

The Asia Pacific region is expected to retain its leading position in the mushroom market throughout the forecast period, with China remaining the largest producer globally. Rising consumption in countries such as India and Japan, coupled with the adoption of innovative cultivation techniques, is anticipated to bolster regional market development.

Europe is also expected to grow steadily, particularly due to increasing demand for medicinal mushrooms in countries like Spain, the Netherlands, and the United Kingdom. Adoption of modern farming and automation technologies is set to enhance the region’s market share.

In North America, market growth is projected due to investments in advanced cultivation technologies and supportive government policies.

South America is also anticipated to experience robust growth, fueled by growing demand for processed food products and the rising trend toward plant-based diets.

Competitive Landscape

Key Players Focus on M&A to Expand Global Presence

Leading companies in the mushroom market are concentrating on mergers and acquisitions to broaden their international reach. Research and development remain central to innovation in the sector. For instance, in July 2020, Leap Foods introduced a new line of mushroom-based burgers and sausages.

Notable Companies in the Market Include:

• Weikfield Foods Pvt. Ltd. (India)
• BioFungi GmbH (Germany)
• Monaghan Mushrooms (Ireland)
• Highline Mushrooms (Canada)
• Scelta Mushrooms BV (Netherlands)
• Monterey Mushrooms, Inc. (U.S.)
• Nasza Chata (Poland)
• Banken Champignons B.V. (Netherlands)
• Bonduelle S.A. (France)
• Ecolink Baltic (Lithuania)

Tariff Impact Analysis for Mushroom Market: https://www.fortunebusinessinsights.com/enquiry/request-sample-us-tariff/mushroom-market-100197 

Key Industry Developments

• March 2021: New Wave Holdings Corp., a nutraceutical investment firm, launched its first functional mushroom product line under the Way of Will brand. This new range, featuring capsules and powders, debuted in the U.S. market.