Mushroom Market Size Worth US$ 19.63 billion by 2028 says, The Insight Partners
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NEW YORK, UNITED STATES, January 31, 2023 /EINPresswire.com/ -- According to The Insight Partners latest study, titled " Mushroom Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type, Category, and Application," the market size is expected to grow from US$ 13.67 billion in 2022 to US$ 19.63 billion by 2028; it is estimated to record a CAGR of 6.2% from 2022 to 2028.
Mushrooms are the fleshy and edible fruit bodies of several species of macrofungi. White mushrooms are commonly eaten mushrooms in many countries. In recent years, the consumption of mushrooms has increased owing to the rising awareness about their health benefits, and consumer inclination toward plant-based food. The mushroom market has been analyzed on the basis of type, category, distribution channel, and geography.
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Giorgio Fresh Co.; B and G FOODS INC; Banken Champignons B.V.; Monterey Mushrooms, LLC; Woodstock Foods; Bonduelle SA; Monaghan Group; WALSH MUSHROOMS GROUP; Smithy Mushrooms; and Bluff City Fungi are a few key players operating in the global mushroom market. These companies have a diverse geographic presence and offer extensive product portfolios to cater to different consumer trends emerging in the mushroom market.
A mushroom is a spore-bearing body of a fungus, typically produced above ground, on soil, or on its food source. Raw brown mushrooms contain 92% water, 4% carbohydrates, 2% proteins, and less than 1% fats. They are enriched with B vitamins (riboflavin, niacin, and pantothenic acid), selenium, and copper. Mushrooms also contain moderate levels of phosphorus, zinc, and potassium. The vitamin D content of a mushroom depends on postharvest handling, in particular the unintended exposure to sunlight. Mushrooms, especially cremini or portobello, impart a rich, earthy, and meaty flavor to foods. They are healthy and filling and can be used to replace meat in any recipe.
Mushrooms are a good meat substitute although they contain lower levels of protein than meat. Moreover, they are full of antioxidants and lack fats and carbohydrates. In dishes containing large quantities of meat, a quarter to a half of the meat can be replaced with mushrooms to make a dish lower in calories, along with retaining the taste. In terms of type, the button mushroom segment accounts for the largest market share, and the market growth of this segment is ascribed to the increasing demand for white button mushrooms for clinical research purposes. In 2021, Asia Pacific held the largest share of the mushroom market.
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Impact of COVID-19 Pandemic on Mushroom Market
Lockdown impositions, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in various countries in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA). The social and commercial restrictions subsequently resulted in disruptions in supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales.
The demand for mushrooms increased owing to increasing consumer preference for plant-based food and rising awareness regarding the health benefits of mushrooms. Thus, the discontinuation of manufacturing activities and the rise in demand led to a demand and supply gap. In 2020, various businesses announced possible delays in mushroom consignments and projected a slump in future sales. Further, bans imposed by governments of various countries in Europe, Asia Pacific, and North America on international travel forced several companies to discontinue their collaboration and partnership plans.
Based on type, the mushroom market is segmented into button mushroom, shiitake mushroom, oyster mushroom, and others. In terms of category, the market is bifurcated into organic and conventional. The mushroom market, by distribution channel, is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. Based on geography, the mushroom market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.
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