The global edible fungus market size is expected to reach US$ 1356.6 Mn by the end of 2030. The market is forecast to rise at 8.5% CAGR between 2020 and 2030. According to the report, the market would gain from adoption of modern and advanced farming techniques by farmers. Edible fungi have many of the nutritional characteristics commonly found in meat, beans or grains. With an increasing number of consumers looking for meat alternatives, the demand for edible fungus is expected to rise. The report offers an exhaustive overview of the factors enabling growth in the market. It also studies in detail restrains to growth.
Increasing awareness about health benefits of various types of edible fungus is driving the market. Increasing interest in plant-based products and changing consumer preferences in favour of meat alternatives will support growth as well. Consumption of Shiitake mushroom for instance is considerably high in Southeast Asian and European countries. As per studies, the demand for this variety of mushroom will increase at a steady pace in the forthcoming years.
The recent coronavirus outbreak is changing consumption preferences for consumers. People are unlikely to buy meat products and are turning to alternatives like mushrooms. This could be a result of various rumours linking meat consumption and the spread of the virus. Also lockdown imposed is likely to have a significant impact on the market. For example, lockdowns in Asia-Pacific meat and seafood markets would result in people buying mushrooms as they taste similar, due to the increase in demand.
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The report offers in-depth insights into the edible fungus market. Some of the important facts regarding the market are:
- The edible fungus market value stands at US$ 600 Mn in 2020.
- Shiitake mushroom demand is expected to increase in the coming years.
- Results from clinical and preclinical studies on edible fungus consumption indicate that their consumption can promote good immunity, weight control and health enhancement. Positive outcome of these studies will encourage consumption of edible fungus
- Consumption of fungi in Asian countries such as Japan, India and others is rising at a significant rate due to increasing production imports of mushrooms.
“Between 2020 and 2030 the market is likely to witness high demand for Auricularia Auricula-judae . However, the demand for shitake mushroom is likely to increase as well with consumers seeking exotic dishes for pleasure consumption,” said a lead analyst at FMI.
Change in Eating Pattern Due to COVID-19 Outbreak will Impact Growth
In recent months, exports of goods and items from China have been affected due to the outbreak of coronavirus. The rate at which the virus engulfed the world compelled governments to enforce extended lockdown. The ongoing restrictions have thrown global supply chains into chaos. Given the labour strength of the production activities, the biggest obstacle in the edible fungus market is decelerated demand. Therefore, the companies are implementing various measures to ensure the safety of employees and to minimize contact between them. Sales to wholesalers operating with HoReCa are adversely affected, which is offset to an extent by increase in retail sales. As a result, demand for packaged mushrooms is rising, which has a positive effect on the edible fungus market.
Who is Winning?
Some of the major edible fungus brands are Agro Dutch Industries Ltd., BioFungi GmbH, California Mushroom Farms Inc., Monaghan Mushrooms, Highline Mushrooms, Scelta Mushrooms BV, Nasza Chata, Banken Champignons B.V. The growing demand for edible fungus led to increased investment by key players and government to step up the cultivation of edible fungus is a significant growth driver of the global market share of edible fungus. Additionally, mergers and acquisitions continue to be a common strategy among market players. Through strategic cooperation companies plan to broaden their regional footprint.
EDIBLE FUNGUS MARKET TAXONOMY
The global Edible Fungus Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Product Type
- Shiitake
- Auricularia Auricula-judae
- Pleurotus Ostreatus
- Enokitake
- Agaricus Bisporus
- Others
Application
- Fresh Mushrooms
- Dried Mushrooms
- Canned Mushrooms
- Frozen Mushrooms
- Others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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EDIBLE FUNGUS MARKET – KEY RESEARCH FINDINGS
- The market will exhibit a CAGR of 8.5% between 2020 and 2030.
- With the expansion of the global edible fungus, the commercial production and distribution have improved significantly.
- Positive trade scenario, coupled with cultivation of number of mushroom varieties across the major mushroom producing countries, is expected to fuel the growth of the market in the forthcoming years.
- Demand for balanced diet creates scope for expansion in developing countries.
- Auricularia auricula-judae holds the largest share in the edible fungus market among the product type.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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