Global mushroom market value is expected to exceed USD 50 billion in the next seven years due to growing mushroom demand in the recent past. Mushrooms are considered good for health as they contain negligible sodium and gluten content. Low fat and cholesterol content is presumed to result in higher mushroom acceptance among consumers. Grouped under vegetables, mushroom contains various nutrients such as potassium, vitamin, and selenium.
Key products include shiitake, button, oyster, and others which contain paddy mushroom, milky mushroom, reishi mushroom, and winter mushrooms. The market can be further segmented by its application which includes dried and processed categories. Demand for mushrooms has risen considerably over the past years in the processing industry. Processed mushroom comes in the commercial market as canned, dried, and frozen. Other than these categories processed mushroom also includes pickled mushroom, powder mushroom, and mushroom sauces.
Animal and bio-based industrial wastes can be used as a valid option for mushroom cultivation. Mushrooms have a different life cycle compared to green plants. Land usage is very less in mushroom cultivation and they can be grown in lawns, woodlands, and polytunnels. Such minimal land usage is expected to positively impact the market by encouraging mushroom growers to utilize small areas of cultivable land effectively.
Mushroom production can be used for medicinal purposes due to its vitamin B and vitamin D content as well as calcium, phosphorus, potassium, and magnesium, and other such minerals content. Mushrooms are often called parasitic due to their dependence on other plants for food.
Governments in developing regions have taken several initiatives that are expected to assist this small-scale industry and in turn benefit the underprivileged population involved in the production process of the industry.
Growing commercial mushroom consumption in restaurants, supermarkets, cafeterias, and hotels is expected to play a vital role in shaping the market in the near future. Shifting consumer preferences towards vegan food and increasing meat substitute demand is projected to aid the mushroom market over the forecast period. Button and shiitake mushrooms are rich protein sources making them desirable meat substitutes among consumers. Shifting consumer preferences towards processed food consumption is another key factor expected to aid the market over the next seven years. Mushrooms have a considerably short shelf life which is anticipated to negatively impact the market in the near future. Mushroom cultivation is heavily labor-intensive and requires high operational costs. This vital factor has the ability to hamper market growth over the forecast period.
Rapid demand growth has prompted mushroom growers to use unwholesome cultivation methods which include excessive chemicals and fertilizers. Such a trend is expected to result in consumer preferences shifting away from mushrooms owing to growing health awareness. Mushroom spores are harmful to the growers as they are allergic and cause other respiratory diseases. Equipment such as respirators that are used by people for safety precautions adds to the production cost making it less viable for underprivileged growers.
Contributions are being made by governments and international agencies to improve mushroom quality by encouraging mushroom growers to develop newer R&D technologies. Biotechnology laboratories play a vital role in the mushroom breeding process as they optimize the cultivation environment for better mushroom yield. Such technological advancements and favorable government initiatives promise ample growth opportunities for industry participants.
Mushroom growers use integrated pest management systems to counter adverse pest effects. The cultivation process needs proper understanding, planning, and research before any initiation. Though the cultivation process is less cost-intensive, climatic issues result in low profitability in some cases.
Europe dominated the global mushroom market in the recent past followed by Asia Pacific. Emerging economies such as China and India are expected to witness rapid mushroom demand growth over the forecast period owing to rising population and growing health awareness.
Prominent industry participants include Agro Dutch Industries Ltd., The Mushroom Company, Banken Champignons, OKECHAMP S.A., Bonduelle, Modern Mushroom Farms, Drinkwater Mushrooms Ltd., Hughes Mushroom, Weikfield Foods Pvt. Ltd., Scelta Mushrooms BV, Ecolink Baltic, Kulkarni Farm Fresh Pvt. Ltd., Monaghan Mushrooms, Monterey Mushrooms, Inc., Fresh Stock, and California Mushroom Farms Inc.
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The demand for packaged and processed foods is expected to increase owing to their longer shelf life. Furthermore, manufacturers are closely monitoring the product supply to major retailers through specialized communication channels in order to improve restocking. In addition, processed food manufacturers have urged the packaging raw material suppliers as well as contract packers to ensure a steady flow of goods during the lockdown related to COVID-19. The report will account for Covid19 as a key market contributor.