Mushroom Global Market Report 2024

The mushroom market size has grown strongly in recent years. It will grow from $61.33 billion in 2023 to $66.53 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The expansion observed in the historical period can be attributed to strong economic growth in emerging markets, a growing vegan population, increased awareness about the health benefits of mushrooms, and a rise in demand for processed foods.

The mushroom market size is expected to see strong growth in the next few years. It will grow to $94.57 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The anticipated growth in the forecast period can be attributed to increasing government support, rapid urbanization, a rising demand for food products, an increasing vegetarian population, a growing overall population, and a rising number of health-conscious consumers. Key trends projected for the forecast period include increasing investments in mushroom farms, a focus on strategic acquisitions to expand market presence, investment in advanced technology to reduce production time and costs, an emphasis on developing new and innovative mushroom varieties, and a focus on product innovations.

The mushroom market is anticipated to experience growth, driven by the increasing demand for a vegan diet. A vegan or plant-based diet, which excludes animal products such as meat, dairy, and eggs, is gaining popularity among consumers due to health, animal welfare, and environmental considerations. This shift in dietary preferences is contributing to a rise in mushroom consumption. In 2022, Cook Unity, a US-based company offering flexible meal delivery plans, reported that 5% to 6% of Americans abstaining from meat or fish identified as vegetarians. Additionally, the Plant Based Foods Association noted a 6.2% expansion in plant-based food sales in 2021, reflecting a continued trend. Consequently, the growing demand for a vegan diet is a significant factor propelling the mushroom market.

The growth of the mushroom market is expected to be further fueled by government support. Various countries are backing the mushroom sector to develop innovative solutions that better serve the industry. In March 2022, the Japanese government allocated over $16.4 billion in subsidies for agriculture and related industries affected by major free trade pacts. Meanwhile, in October 2022, the Russian government initiated a program offering grants for the enhancement of the material and technical base of agricultural consumer cooperatives, stimulating the cooperation of agricultural consumers. Thus, increasing government support is poised to drive the mushroom market.

Companies operating in the market are directing their efforts towards investing in advanced technology to enhance production efficiency and competitiveness. In 2023, the BioInnovation Lab at Kennesaw State University’s College of Science and Mathematics introduced MycoLogic, an automated mushroom product technology. MycoLogic enables farmers to cultivate a higher quantity and superior quality of specialty mushrooms in specially equipped 40-foot shipping containers optimized for growth conditions.

A notable trend in the mushroom market is the emergence of strategic partnerships. These partnerships, formalized through business contracts, enable commercial enterprises to broaden their product offerings and advance in the market. In July 2021, Mycionics, a robotics mushroom harvesting company, announced a partnership with White Crest Mushrooms and Piccioni Brothers Mushroom Farm, aiming to revolutionize mushroom harvesting processes through advanced robotic solutions. Additionally, Next-Generation Manufacturing Canada, the organization behind Canada's advanced manufacturing supercluster, provided nearly $4.2 million in collaborative funding for a project led by Mycionics, focusing on robotic harvesting systems.

In January 2021, South Mill Champs, a US-based mushroom producer and distributor, acquired The Mushroom Company for an undisclosed amount. This strategic acquisition is expected to enhance South Mill Champs' capabilities and product innovation, solidifying its position as an industry leader. The Mushroom Company, also based in the US, specializes in the manufacturing of various mushroom products, including frozen, canned, processed, seasoned, and organic mushrooms, as well as mushroom sauces.

Major companies operating in the mushroom market report are Monaghan Mushrooms Ltd., Monterey Mushrooms Inc., Giorgio Fresh Co, South Mill Champs, Costa Group Holdings Limited, Bonduelle Group, Greenyard NV, Scelta Mushroom BV, Drinkwater Mushrooms Ltd., Fresh Lawn Mushroom Pvt. Ltd., Chenab Impex Pvt. Ltd., Nuvedo Labs Pvt Ltd., Shanghai Finc Bio-Tech Inc., Fujian Junyuan Food Co Ltd., White Prince Mushrooms, Agro Dutch Industries Ltd., Kawayo Green Farm, Weikfiield Foods Pvt Ltd., Okechamp SA, CMP Mushrooms, Hughes Group, Nasza Chata, Carleton Mushroom Farms Ltd., Enviro Mushroom Farm Inc., F & A Veggy-Symphony, Highline Mushrooms, Phillips Mushroom Farms, Mushroom King Farm, Kitchen Pride Mushroom Farms, Corporacion Euro Caribe Andina, Brasil Global Trade, Shitakeiroscia Family Brazilian Farm, Natural Cogumelos, Ting Industria E Comercio Ltda, Mn Propolis Industria Comercio E Exportacao Ltda, Alejandro Varela, DF NATURAL, Huerta Dona Elvira, Amoro farm, Kinoko Mushroom Farms, Champignon Farm, Tekoa Farms, Eco Fresh, Below Farm, Kinoko Farms, Highveld Mushrooms, African Mushroom Growers, Medallion Mushrooms, Country Mushrooms Ltd., Denny Mushroom, Mushroom Guru, Mushroom Network, Soko Mushrooms.

Asia-Pacific was the largest region in the mushroom market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the mushroom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mushroom market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary types of mushrooms include button mushrooms, shiitake mushrooms, oyster mushrooms, and others. Button mushrooms are gilled fungi that naturally occur in Europe and North America. They are generally rich in minerals and vitamins, with a notable content of potassium and vitamin B. Mushrooms are available in various forms, including fresh, frozen, dried, and canned, and are sold through diverse distribution channels such as hypermarkets and supermarkets, convenience stores, specialty stores, and online sales channels. Mushrooms find applications in various sectors, including food processing, retail outlets, food services, and others.

The mushroom market research report is one of a series of new reports that provides mushroom market statistics, including mushroom industry global market size, regional shares, competitors with a mushroom market share, detailed mushroom market segments, market trends, and opportunities, and any further data you may need to thrive in the mushroom industry. This mushroom 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 mushroom market consists of sales of volva, mycelium, and hyphae. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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.