The global mushroom market reached a size of 17.25 million tonnes in 2023 and is expected to expand from 18.39 million tonnes in 2024 to 32.04 million tonnes by 2032, reflecting a CAGR of 7.18% over the forecast period (2024-2032). In 2023, the Asia Pacific region led the market with a dominant 79.83% share. Additionally, the U.S. mushroom market is projected to experience significant growth, reaching an estimated 1.22 million tonnes by 2032. This growth is fueled by increased investments from local growers in advanced cultivation technologies and heightened merger & acquisition activities by international players seeking to strengthen their foothold in the country.

Mushrooms, classified as edible fungi, are often grouped with vegetables but are not technically plants. They are rich in riboflavin, potassium, vitamin D, selenium, and other nutrients essential for human health. Clinical and preclinical studies suggest that mushrooms support immune health, weight management, and overall well-being. Additionally, their consumption has been linked to a reduced risk of certain diseases, including prostate and breast cancer, further driving demand and sales.

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Market Segmentation

By type, the mushroom market is categorized into button, shiitake, oyster, and others. Based on form, it is segmented into fresh, canned, frozen, and dried. Geographically, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

• Analysis of the latest market trends impacting growth
• Examination of key growth drivers and constraints
• Assessment of the impact of the COVID-19 pandemic
• Strategies for market expansion in the coming years
• Highlights of recent industry developments

Drivers & Restraints

Growing Health Consciousness to Drive Nutritional Food Demand

Increasing awareness of health and nutrition is expected to propel demand for low-fat, cholesterol-free foods, boosting mushroom consumption. Mushrooms are widely used in households, restaurants, hotels, and cafeterias due to their high fiber content and digestive enzymes, which support gut health and immunity. These nutritional benefits are anticipated to drive consumption and fuel global market growth.

Rising investments in research and development for commercial mushroom cultivation are expected to unlock new growth opportunities. Expanding international trade and the cultivation of exotic mushroom varieties are also poised to accelerate market expansion.

Moreover, mushroom cultivation is labor-intensive, with production costs comprising nearly one-third of total expenditures. To optimize costs, manufacturers are increasingly adopting automation, robotics, and high-tech control systems. Growing investments in automated production methods are likely to further stimulate market growth.

However, high operational costs remain a challenge, potentially restraining market expansion.

Regional Insights

Asia Pacific to Maintain Market Dominance Due to High Consumption

Asia Pacific is anticipated to hold the largest market share throughout the forecast period, with China leading global mushroom production. Rising consumption in India, Japan, and other countries, coupled with the adoption of advanced cultivation techniques, is expected to drive regional growth.

Europe is also poised for substantial growth, with high demand for medicinal mushrooms in Spain, the Netherlands, and the U.K. The adoption of automation and modern production techniques is expected to further bolster market expansion.

In North America, significant growth is expected due to major market players investing in modern cultivation methods and supportive government initiatives.

South America is projected to experience notable growth, driven by increasing demand for processed foods and the rising popularity of plant-based diets.

Competitive Landscape

Industry Players Focus on Mergers & Acquisitions for Global Expansion

Leading companies in the mushroom market are prioritizing mergers and acquisitions to strengthen their global presence. Research and development efforts for product innovation remain a key focus. For instance, in July 2020, Leap Foods introduced a new line of mushroom-based burgers and sausages.

List of Key Market Players

• 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)

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Key Industry Developments

• March 2021: New Wave Holdings Corp., an investment firm focused on the nutraceutical sector, launched its first functional mushroom products under the Way of Will brand. The company introduced functional capsules and powders to the U.S. market.