According
to a recent study by Transparency Market Research (TMR), the global
mushroom market is largely fragmented in nature and highly
competitive, owing to the presence of numerous players, most of whom
are concentrated in China. As per the findings of the TMR report, the
top five vendors in the mushroom market did not even account for
one-fourth of the global shares and the competitive landscape is
expected to remain divided in the near future too.
The
global
mushroom market, though, on the other hand, is projected for
a healthy CAGR of 8.2% during the forecast period of 2016 to 2024 by
the TMR report, estimating it to reach a valuation of US$69.3 bn in
2024, significantly up from its evaluated worth of US$34.1 bn in
2015. Going forward, the key players are expected to expand their
geographical presence, increase their production capacity with
innovative methods, and collaborate with regional and domestic
players in order to strengthen their distribution network.
As
the market for mushroom itself is flourishing, the leading companies
are aggressively acquiring and collaborating with niche vendors. For
instance, Bonduelle SA acquired U.S.-based Ready Pac Foods in early
2017, following the acquisition of French company France Champignon
in 2010. These two moves has helped Bonduelle SA in solidifying their
presence in European as well as North American Mushroom markets.
Processed
Mushroom Gaining Popularity
Based
on type, the TMR report segments the global mushroom market into
shiitake mushroom, button mushroom, and oyster mushroom. In 2016, the
TMR report has estimated that the button mushroom segment was most
valuation, estimating it to be worth US$32.3 bn by the end of the
forecast period, which is 2024, owning about 46.7% demand in the
overall mushroom market. Together with shiitake mushroom segment,
which accounts for more than one-fourth of the total mushroom demand,
button mushroom is expected to remain most profitable in the near
future.
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On
the basis of type, the report categorizes the global mushroom market
into fresh mushroom and processed mushroom, such as dried, frozen, or
canned. Currently, Fresh mushroom has the maximum demand, although
the popularity of processed mushroom is growing and is expected to
eat into the percentage of demand for fresh mushroom. Based on
end-user, the market has been bifurcated into retail outlets, food
processing industry, and food serves, among whom, the retail outlets
and food processing industries serve the maximum demand.
China
Ushering APAC’s Impressive Growth Rate
Geographically,
the report takes stock of the current scenario and future prospects
of mushroom market in the regions of North America, Latin America,
Europe, Asia Pacific (APAC), and The Middle East and Africa (MEA).
Asia Pacific, which is driven primarily by the country-wide demand
from China, is projected for the most prominent CAGR of 8.8% during
the forecast period of 2016 to 2024, although North America will
maintain its leading position as the server of maximum demand,
reaching an estimated valuation of US$23.8 bn alone by the end of
2024.
Growing
Consumer Awareness Regarding Benefits of Mushroom Driving Demand
Increase
in the consumption of processed foods, rising consumer awareness
regarding the health benefits of mushroom, advancements in packaging
technology that have significantly increased the shelf-life of
mushroom products, and increasing demand for brown mushrooms are some
of the most important factors driving the global mushroom market. On
the other hand, low production rate and improper storage facilities
are hindering the mushroom market from achieving its true potential,
especially in the emerging market. Nevertheless, production of
mushroom-based products such as mushroom-based health drinks and
beverages and increasing partnerships and acquisition between the key
players is expected to change the dynamics of the global mushroom
market in the positive direction in the near future.
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 Mushroom Market
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
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