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.
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
Global Mushroom market – Form Type
- Fresh Mushroom
- Processed Mushroom
- Dried Mushroom
- Frozen Mushroom
- Canned Mushroom
Global Mushroom market – Application
- Food Processing Industry
- Retail Outlets
- Food Services
Global Mushroom market – By Region
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)