According to the latest report published by Credence Research, Inc. “Global Mushroom Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global Mushroom market accounted for US$ 38.13 Bn in 2017, expanding at a CAGR of 7.9% from 2018 to 2026.
The global mushroom market accounted for US$ 38.13 Bn in 2017 growing with a CAGR of 7.9% during the forecast period from 2018 to 2026. Mushrooms are basically low-sodium foods, fat and cholesterol free and are rich in nutrients such as vitamin, potassium and selenium and also contains antioxidants. These are alternative food for flexitarians and vegetarians that satisfy the needs of health conscious consumers. The quality of mushroom depends on its aroma, taste and absence of poisonous content. The method of producing mushrooms is completely different compared to the other vegetables as mushroom largely depend on other plant materials for food since they do not have chlorophyll in them. The life span of mushrooms is very limited as their lifespan ranges between one to thirty days.
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Rising consumption of processed food items, rising consumer awareness regarding the health benefits offered by mushrooms, and improvement in packaging technologies are some of the key factors influencing the growth of the mushroom market at present. Presence of minerals such as selenium and antioxidants aids in combating cancer by detoxifying cancer-triggering compounds in the body and also plays a vital role in liver enzyme function. In addition, it also prevents inflammation and reduces tumor growth in the body. Moreover, it also contributes to cardiovascular health as it contains fiber, Vitamin C and potassium. Also, consumption of mushrooms reduces the chances of high blood pressure and cardiovascular diseases since mushrooms are low in sodium content and are high in potassium.
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Government in developing countries are also focusing on taking several initiatives to assist the various small scale industries with an objective to benefit the underprivileged labor force involved in the cultivation and production process. Growing commercial mushroom consumption in supermarkets, restaurants, hotels and cafeterias is also expected to propel the market demand during the forecast period from 2018 to 2026.Increasing demand for meat substitutes followed by growing consumer preference towards vegan food are other factors that are expected to augment the market demand for global mushroom market.
However, short shelf life of mushrooms is restraining the growth of the market in the near future. In addition, mushroom cultivation requires high operational costs and is heavily labor intensive. This factor is also expected to hamper the market growth. Biotechnology laboratories play an important role in the mushroom breeding process owing to the fact that they help to improve the cultivation environment required for better mushroom production. Such technological advancements serve as growth opportunity for the players operating in the global mushrooms market.
The global mushroom market has been segmented by product type, form, distribution channel and geography. In 2017, button mushroom segment dominated the global mushroom market by product type. The growth is mainly attributed to the high nutritional benefits followed by increasing applications in soups, casseroles, and salads. In terms of form, fresh mushrooms segment held the largest revenue in 2017 owing to wide availability of mushroom bags in the form of mushroom growing kits in hypermarkets and supermarkets. By distribution channel, hypermarkets and supermarkets is the most prominent segment in the global mushroom market that is expected to maintain its dominance during the forecast period.
Rising number of hypermarkets and supermarkets in developing countries followed by key marketing strategies adopted by the manufacturers in the innovative placement and packaging of mushroom products are the primary factors responsible for the growth of this segment during the forecast period from 2018 to 2026. In terms of geography, Europe is the key market and held the largest market revenue share in the global mushroom market. High demand of fresh and canned mushrooms in Spain, Netherlands, France and Germany is expected to trigger the market growth in Europe region. In addition, technologically advanced production facilities followed by low production cost in Poland has facilitated the mushroom growers to export mushroom products to non-European countries which in turn is expected to bolster the market growth during the forecast period.
Key market players in the global mushroom market include Costa Pty Ltd., Monterey Mushrooms Inc., Bonduelle Fresh Europe, Drinkwater’s Mushrooms Limited, The Mushroom Company, Monaghan Mushrooms Ireland, Okechamp S.A. and Lutece Holdings B.V. among others.
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