The
global mushroom market has witnessed a great development in the
recent owing to highly market competition. Growing number of
companies and established players focusing consolidating their market
presence by getting involved in activities such as distributors in
new geographical regions, mergers and acquisitions, and
collaborations. Some of the prominent names in the global mushroom
market include names such as Okechamp S.A., Costa Group, Monterey
Mushrooms Inc., Drinkwater’s Mushroom Ltd., Monaghan Mushrooms, The
Mushroom Company, CMP Mushrooms Greenyard NV (Lutece), Shanghai Finc
Bio-Tech Inc., and Bonduelle SA. One of the key development in the
competitive landscape of the global mushroom market involved
Bonduelle Group acquire Ready Pac Foods. This acquisition has led to
the generation of revenue over 2 billion euros over the financial
year 2016-2017 for the first time in Bunduelle’s history. This
surge in turnover is mark of resilience showed by the company despite
of adverse market conditions such as drop in consumption in Europe,
economic crunch in developing nations, and difficult harvests among
others.
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The
global mushrooms market stood at an overall valuation of US$34.1 bn
in the year 2015. The market is expected to reach the valuation worth
US$ 69.3 bn by the end of the mentioned forecast period of 2016-2024.
This growth is expected to be achieved at a healthy CAGR of 8.2%
during the aforementioned forecast period. The Asia Pacific market
for mushrooms is primarily driven by China and estimated to progress
with a CAGR of 8.8% during the mentioned forecast period of
2016-2024. However, North America will continue its dominance over
the global mushroom market as the region for maximum demand and is
estimated to reach valuation of US$23.8 bn along by the fall of 2024.
Advancements
in Packaging Technology to Drive Global Mushrooms Market
There
has been a tremendous rise in the consumption of refined food and
that coupled with increasing awareness among customers about the
health advantages of mushrooms is primarily driving the global
mushroom market. In addition to this, advancements in packaging
technology has considerably enhanced the shelf-life of mushrooms.
This has been also a significant driver for the growth in the global
mushrooms market. It is also expected that there will be a great
demand for processed mushroom such as dried, canned, and frozen.
Production
of mushroom-based consumables such as mushroom-based beverages and
health drinks and growing acquisitions and partnerships between the
prominent market players has played an important part in the
developing the mushroom
market globally. People around the world have been heavily
relying on processed food, imported products, and there has been
increasing demand for mushrooms to be used in different food items
and beverages in developed economies have considerably impacted the
growth of the mushroom market. Also, there are various health
benefits associated with the consumption of mushrooms. This factor is
also expected to stimulate the market in a positive manner.
Low
Shelf Life and Lack of Sturdy Storage Facilities May Hinder Market
Growth
Low
production rate of mushrooms and lack of proper storage facilities
are causing some concern for the global mushroom market to achieve
its true potential. This factor is more evident in emerging
countries. Moreover, low life on shelf subsequently leads to
increased costs of storage and preservation. This may also hinder the
development of the global mushroom market. Nonetheless, escalating
food markets and food chain in the emerging nations backed with
continuous research for yet unknown uses of mushrooms are most likely
to open newer avenues for the global mushrooms market.
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