Oyster Mushroom Cultivation Global Market Report 2024

The oyster mushroom cultivation market size has grown strongly in recent years. It will grow from $2.79 billion in 2023 to $2.94 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth observed in the historical period can be attributed to the culinary popularity of mushrooms, cultural and culinary traditions, the rise of vegetarian and vegan diets, the ease of cultivation, short cultivation cycles, and the market demand for exotic mushrooms.

The oyster mushroom cultivation market size is expected to see strong growth in the next few years. It will grow to $3.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the forecast period can be attributed to increasing culinary diversity, rising awareness of sustainable protein sources, global population growth, the expansion of culinary tourism, and international trade opportunities. Major trends in the forecast period include home-based mushroom cultivation, the introduction of novel oyster mushroom varieties, the adoption of hydroponic and vertical farming techniques, innovations in food processing, and collaborative efforts in agricultural research.

The anticipated rise in mushroom production and cultivation is poised to drive the growth of the oyster mushroom cultivation market in the coming years. Mushroom cultivation involves the technology of growing mushrooms using a combination of plants, animals, and industrial waste. This increase in production and cultivation contributes to the development of various mushroom varieties, including oyster mushrooms. As of August 2022, data from the National Agricultural Statistics Service, a U.S.-based government agency, indicated a 1 percent growth in production for Agaricus mushrooms in Chester County, Pennsylvania. During the 2021–2022 growing season, these cultivators achieved a production level of 321 million pounds, with the value of the output increasing by 3 percent to $329 million compared to the previous season. The upswing in mushroom production and cultivation stands as a key driver propelling the growth of the oyster mushroom cultivation market.

The anticipated increase in the vegan population is set to drive the growth of the oyster mushroom cultivation market in the foreseeable future. The term "vegan population" refers to a group of strict vegetarians who refrain from consuming any animal products, including meat, eggs, and dairy. Oyster mushroom cultivation plays a crucial role in catering to the needs of the vegan population as a popular and nutritious meat substitute, offering a versatile ingredient that aligns with plant-based diets. As of January 2023, a report from the U.S. Department of Agriculture's Foreign Agricultural Service, a U.S.-based government agency, highlighted Germany as having the highest rate of vegetarianism. In 2022, the country boasted over 1.5 million vegans, with 1.58 million people claiming veganism and nearly 8 million individuals consuming vegetarian food. Consequently, the rise in the vegan population emerges as a key driver propelling the growth of the oyster mushroom cultivation market.

The oyster mushroom cultivation market is experiencing a notable trend with the emergence of innovative cultivation techniques. Leading companies in the sector are actively engaged in the development of new methods to maintain and enhance their market positions. A case in point is Nuvedo, an Indian mushroom production company, which introduced mushroom growing kits in May 2022. These kits incorporate advanced cultivation technology, offering a practical, user-friendly, and hands-on solution for beginners to produce fresh, organic mushrooms in a home setting. This strategic move aligns with the company's commitment to staying at the forefront of the market.

Prominent players in the oyster mushroom cultivation market are intensifying their efforts to establish a competitive advantage through the introduction of innovative mushroom spawns. Mushroom spawn, comprising the mycelium grown on a substrate, is a focal point for these companies. Illustratively, in June 2023, Gachwala, an online garden store based in India, unveiled a white oyster mushroom spawn. This first-generation high-yield white mycelium spores belong to the edible CO2 variety and are grain-based. The mushroom spawn is specifically designed for mushroom cultivation and serves as an effective inoculant for paddy straw. This strategic move reflects the industry's commitment to staying ahead in a dynamic market landscape.

In January 2021, South Mill Champs, a U.S.-based company specializing in the production and distribution of mushrooms, successfully acquired The Mushroom Company for an undisclosed amount. This strategic acquisition is aimed at expanding South Mill Champs' capabilities and fostering product innovation, reinforcing its position as an industry leader. The Mushroom Company, based in the U.S., is a manufacturer in the mushroom industry.

Major companies operating in the oyster mushroom cultivation market report are Walsh Mushrooms Group, Shanghai Xuerong Bio-Technology Co Ltd., Chengde Runlong Foodstuffs Co. Ltd., Monaghan Group, Mountain Meadow Mushrooms, Mycelium Organic Farms Pvt Ltd., Hirano Mushroom LLC, Fungi Ally, Phillips Mushroom Farms, Cascadia Mushrooms, Mushroom Mountain, Smithy Mushrooms Ltd., Hunan Chunhua Biotech Co. Ltd., Oyster Creek Mushroom Company, Valley Mushrooms, North Spore, Gourmet Mushrooms Inc., Luoyang Fudamei Agricultural Production Co. Ltd., Italspwan di Valentino e Massimo Sartor S.S., Fujishukin Co. Ltd., Greensfarm Sp. z o.o., Kalina Boczniaki, Pol Grzyb Wojciech Wizinski, Societa' Agricola Porretta - Le Ghiottone, Eden Specialty Crops, Windy Hill Mushrooms, Mother Earth Mushrooms, Black Pearl Mushrooms, New Earth Organic Farm, Central Valley Mushroom Farm, Prairie Fungi.

Asia-Pacific was the largest region in the oyster mushroom cultivation market in 2023. The regions covered in the oyster mushroom cultivation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the oyster mushroom cultivation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Oyster mushroom cultivation encompasses various forms such as fresh, frozen, dried, and canned mushrooms. Fresh mushrooms represent edible fungi rich in essential nutrients and are unprocessed in the oyster mushroom cultivation market. The cultivation process involves phases such as composting, spawning, casing, pinning, and harvesting, catering to applications in the food processing industry, retail outlets, food services, and various other sectors.

The oyster mushroom cultivation market research report is one of a series of new reports that provides oyster mushroom cultivation market statistics, including global oyster mushroom cultivation industry size, regional shares, competitors with market share, detailed oyster mushroom cultivation market segments, market trends and opportunities, and any further data you may need to thrive in the oyster mushroom cultivation industry. This oyster mushroom cultivation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The oyster mushroom cultivation market revenues earned by entities by button mushroom, straw mushroom, and paddy mushroom. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.