Mushroom Market Research Report: Size, Share, Key Trends, Growth Drivers, Regional Outlook, Revenue Estimation and Forecast, 2023–2030

Market Overview

The global mushroom market is expected to reach USD 105.1 billion by 2030 from an estimated revenue of USD 56.4 billion in 2023, witnessing 9.3% CAGR between 2023 and 2030.

The growing vegan populace is increasing the need for a protein-rich diet across the world, and thus, it is projected to be the main propeller for the industry over the projection period. Mushrooms are considered a superfood credited to their high content of major nutrients, including ergothioneine, selenium, glutathione, and vitamin D. Such nutrients aid in mitigating oxidative stress and reducing the danger of chronic conditions, such as dementia, cancer, and, heart disease.

Furthermore, these fungi provide a natural umami flavor, permitting customers to decrease the salt quantity in mushroom-containing meals by 25–30%, thus offering even stronger benefits.

In recent years, the U.S. has been one of the biggest producers of mushrooms. The harvest in the nation has been shrinking since 2017, while the requirement from consumers has been rising, which has caused a surge in the costs of this crop. The government of the U.S. is constantly increasing import duties, which is also raising the prices of mushrooms, thus benefitting the market.

Mushroom is one of the best sources of proteins for vegans because it provides close to 3.4 grams of proteins in every 100 grams of serving. Meat is one of the major sources of protein in the Western diet; therefore, the populace opting for a vegan diet is expected to prefer mushrooms to meet their everyday protein needs.

Further, the increasing demand for clean-label cosmetic products made from plant extracts is positively impacting the personal care & beauty products market. These products are safer for the skin, eco-friendly, rich in nutrients, and more effective than those made using conventional chemicals. Moreover, their chemical-free nature makes them better for overall health, as this property prevents the onset of certain side-effects.

Button Category Is Leading Product Type Segment

The button product type category is leading the industry, and it is projected to advance at a significant pace over this decade. Button mushrooms are extensively cultivated because of their high nutritional value and shorter cultivation time. Additionally, their lower prices than other species are projected to boost their consumption. Additionally, they are highly versatile and suitable for a range of preparations, including simply sauteed as well as in curries, pizzas, burgers, and pasta dishes.

Shiitake mushrooms are also common worldwide, primarily because of their rich savory taste and many health benefits. Such mushrooms can be eaten in the fresh or treated forms, such as dried, which is extremely common in Japanese cuisine because of its umami flavor.

Fresh Form Is Dominating the Market

The fresh form category is dominating the market, credited to an augmenting count of customers concentrating on organic and natural food, to attain health benefits. The delivery of fresh mushrooms is difficult because of their restricted shelf life. Though, technical improvements, such as temperature-resistant packaging and reefer containers, have limited the difficulties related to the transportation of fresh mushrooms, thus enhancing the category’s development potential.

Supermarkets and Hypermarkets Hold Largest Market Share

Supermarkets and hypermarkets held the largest share in the market in 2022, on the basis of distribution channel. The advanced economies in North America and Europe have a high penetration of such stores. The ease of discovering an extensive variety of mushrooms in one place drives the footfall at such retail establishments.

The online category is expected to witness the highest CAGR over the forecast period as e-commerce stores provide reduced prices, freedom to pay via cashless means, and home deliveries. Additionally, the increasing internet and smartphone penetration continues to drive online sales, as does the paucity of time for people to visit a brick-and-mortar store in this busy era.

Much of Mushroom Harvest Consumed as Food

On the basis of application, the food category garnered the largest share in 2022. Mushrooms are quite a common food ingredient in both the processed and fresh forms. They are appreciated for being low in gluten, fat, cholesterol, and sodium and rich in minerals, vitamins, selenium, and proteins. This nutritious profile has fascinated health-conscious customers and fitness enthusiasts, thereby leading to a surge in mushroom-based food and beverage consumption.

Further, mushrooms are an essential part of Italian, Japanese, British, French, and many other cuisines. Additionally, shaved truffles are widely used in haute cuisine, while truffle oil is often sprinkled over pasta and many other dishes to accentuate the flavor. With time, cuisines that did not traditionally utilize this ingredient, such as Indian, have started incorporating it in a range of dishes.

The pharmaceutical category is also growing rapidly, due to the high content of polysaccharides, polyphenols, triterpenes, proteins, germanium, and amino acids in this fungus. As a result, its usage in supplements and pharmaceuticals designed to help manage or lower the risk of hypertension, sleeplessness, diabetes, hypercholesterolemia, and cancer is rising.

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Asia-Pacific Region Is Dominating Market

APAC is dominating the industry, with Australia, China, India, Malaysia, and Japan being the major consumers in the region. China has the highest per-capita yearly utilization in APAC, of up to 10 kg. Moreover, the APAC region has many traditional drug systems, such as traditional Chinese medications and Ayurveda, which utilize many species of mushrooms for treating illnesses. 

Additionally, Europe is a major market, as mushrooms are celebrated in regional cuisines, especially Italian, French, and British. Moreover, the U.K. was the largest importer of mushrooms in the world in 2020, followed by Germany and the U.S. Moreover, the high disposable income in the advanced economies in the continent is projected to offer an opportunity for exotic mushrooms, such as chanterelles, matsutake, truffles, porcini, and portobello.

North America also holds a substantial share, credited to the presence of an advanced food processing industry in Canada and the U.S. Further, customers have few problems with paying more for better-quality produce grown using organic methods. Furthermore, a rising fondness for a vegan diet is projected to increase the demand for meat substitutes over the projection period.

Some Key companies in Mushroom Market Are:

• Bonduelle Group
• Costa Group
• CMP Mushroom
• Drinkwater Mushrooms
• Greenyard
• Monaghan Group
• Monterey Mushroom Inc.
• OKECHAMP S.A.
• Shanghai Fengke Biological Technology Co. Ltd.
• The Mushroom Company