Mushroom Market to Reach US$ 69 Bn by 2024 Owing to Increasing Demand for the Mushroom Products - TMR

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Dec 06, 2018, 05:30 ET

ALBANY, New York, December 6, 2018 /PRNewswire/ --

The global mushroom market depicts the presence of a highly competitive vendor landscape, says Transparency Market Research on the basis of a recently published report. Presence of low entry barriers and innumerable players is mainly responsible for such an intense competition to exist in the market. Moreover, with the number of players expected to increase during the next few years, the competition is expected to further intensify.

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Most players are attempting to expand their distribution network and product quality as key strategies for gaining extensive revenue. Companies working in the global mushroom market also are participating in valuable mergers and acquisitions to enhance their geographical reach. In terms of market shares, the vendor landscape is moderately consolidated, with a specific number of companies holding prime positions. The Mushroom Company, Costa Group, Okechamp S.A., Drinkwater's Mushroom Ltd., and Monterey Mushrooms Inc., are key players operating in the global mushroom market.

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From a statistical perspective, experts peg the global mushroom market to gain revenue worth US$69,267.9 mn by 2024. This is a decent growth considering an initial revenue valuation of about US$36,825.4 mn registered by the market in 2016. Thus growth is prophesized to occur at a splendid CAGR of 8.2% during the forecast period ranging from 2016 to 2024.

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Rising Awareness about Mushroom Health Benefits Stokes Growth

A rapidly developing food industry is majorly driving growth in the global mushroom market. This is mainly due to the fact that mushrooms form a crucial part of the food and culinary industry through various dishes and recipes cooked all over the globe. Moreover, a rising awareness about the health benefits of mushrooms too is driving the global mushroom market. In addition, numerous players are pouring extensive investments to improve the quality of their mushroom products. This had led to an increased customer retention among most players, thereby making the market expand at an extensive pace. Humungous research and development coupled with innovative packaging of mushroom products are two more factors driving progress in the market. With increasing efforts taken by most manufacturers to ensure that they sell fresh mushrooms at affordable prices, the demand for these naturally grown foods is prophesized to dramatically increase.

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Low Shelf Life of Most Products Hampers Progress

However, most mushroom products have a notably low shelf-life. This makes the consumption of fresh mushrooms as early as possible, in order to avoid food poisoning and other harmful effects. But, many regions might not receive a fresh supply of mushrooms, and until they are supplied, they might be past or near the expiry date. In this way, less shelf life acts as a key restraint to the growth of the global mushroom market. Nonetheless, several companies are improving shelf life of their mushroom products. This could certainly reduce effects of most restraints affecting the global mushroom market.

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The information presented in this review is based on a Transparency Market Research report, titled, "Mushroom Market (Type - Button Mushroom, Shiitake Mushroom, and Oyster Mushroom; Form - Fresh Mushroom and Processed Mushroom (Dried Mushroom, Frozen Mushroom, and Canned Mushroom); End Use - Food Processing Industry, Retail Outlets, and Food Service) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."

Key segments of the global mushroom market:

By Type

Button Mushroom
Shiitake Mushroom
Oyster Mushroom
Others

By Form Type

Fresh Mushroom
Processed Mushroom
- Dried Mushroom
- Frozen Mushroom
- Canned Mushroom
- Others

By Application

Food Processing Industry
Retail Outlets
Food Services

By Region

North America
Latin America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)

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