The
presence of a large number of producers, much of them concentrated in
China, has rendered the vendor landscape of the global market for
mushrooms highly fragmented and competitive, with the leading five
companies collectively holding only about 15-20% of the overall
market, states Transparency Market Research (TMR) in a recent report.
To gain larger share, expand geographical footprint, increase
production capacities, and strengthen distribution network in the
thriving global market for mushrooms, companies are resorting to
business strategies such as collaborations and acquisition.
Recent
instances would be the acquisition of the U.S.-based company Ready
Pac Foods by Bonduelle SA in 2017. After Bonduelle SA acquired the
France-based company France Champignon, which is a leading European
mushroom company, in 2010, Bonduelle SA became one of the key
mushroom companies in the European region. The recent acquisition of
Ready Pac Foods is expected to help the company strengthen its hold
on the North America region as well. Lutece Holding B.V., one of
Europe’s leading manufacturer of preserved mushrooms, was acquired
by Greenyard Foods in April 2016.
Transparency
Market Research, pegging the global
mushroom market
at US$34,100.0 mn in 2015, estimates that the market will exhibit a
promising 8.2% CAGR from 2016 to 2024 and rise to a valuation of
US$69,267.9 by 2024.
Button
Mushrooms to Remain Most Preferred Type Globally
On
the basis of by type, the segment of button mushroom segment is
estimated to account for over 47.2% of the global market in 2016. The
segment is expected to remain leading contributor of revenue to the
global market, exhibiting a promising 8.1% CAGR from 2016 to 2024.
From a geographical perspective, the North America market presently
accounts for relatively high revenue share in the global market and
is expected to witness high growth over the forecast period, rising
to a valuation of US$23,856.0 mn by the end of 2024.
Rising
Consumer Awareness about Health Benefits of Mushrooms Key to Growth
A
number of factors, including the increased consumption of processed
foods and rising consumer awareness regarding the vast health
benefits of including mushrooms in their daily diets are stimulating
the global demand for mushrooms. Companies in the food and beverages
market have, of late, started focusing on implementing ways of
garnering the attention of the consumers by keeping pace with their
ever-changing consumption patterns. This has led to a significant
rise in the number of companies producing, processing, and selling
mushrooms across the globe.
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The
rising inclination of consumers towards maintaining a healthy
lifestyle has also led to higher consumption of food and food
ingredients with potential health benefits. This trend is one of the
key factors fueling the global demand for mushrooms, which are rich
in minerals, vitamins, proteins, and dietary fibers. A number of
microeconomic factors, such as the rising disposable incomes across
developing economies and the easy availability of processed and fresh
mushrooms in unconventional regional markets, are also fueling the
global demand for mushrooms over the past few years.
Difficult
Climatic Conditions to Hamper Production Volumes
Certain
factors, such as the peculiar climatic conditions required for the
growth of mushrooms and issues surrounding the improper packaging and
storage of mushrooms arrest the growth of the market to a certain
extent. While changing environmental conditions are leading to
reduced production of mushrooms across key producing regions, vast
stocks of improperly packed or stored mushrooms go unused in regions
with inadequate infrastructure for refrigeration of fresh mushrooms.
These factors are expected to hamper the growth prospects of the
global mushroom market to a certain extent over the report’s
forecast period.
This
analysis of the global mushroom market is based on a recent market
research report published by Transparency Market Research, 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.”
For
the study, the market has been segmented as follows:
The
market has been segmented as below:
Global
Mushroom Market – By Type
- Button Mushroom
- Shiitake Mushroom
- Oyster Mushroom
- Others
Global
Mushroom market – Form Type
- Fresh Mushroom
- Processed Mushroom
- Dried Mushroom
- Frozen Mushroom
- Canned Mushroom
- Others
Global
Mushroom market – Application
- Food Processing Industry
- Retail Outlets
- Food Services
Global
Mushroom market – By Region
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
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