The global mushroom market is poised for substantial growth, with rising demand for both edible and functional mushrooms due to their health benefits, nutritional value, and versatility in the culinary world. The market is expected to reach USD 60.69 billion by 2030, growing at a CAGR of 9.6% from 2024. With increasing consumer preference for plant-based, organic, and sustainable food products, the demand for mushrooms is expected to continue its upward trajectory, driven by key developments in mergers and acquisitions (M&As), technological advancements, and innovations in product offerings.
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Market Growth and Key Trends
The mushroom market has been experiencing rapid expansion due to several factors:
- Health and Nutritional Benefits: Mushrooms are increasingly recognized for their health benefits, including high nutritional content such as vitamins, antioxidants, and minerals. Functional mushrooms, known for their medicinal properties, are particularly gaining traction in the wellness industry.
- Popularity of Plant-Based Diets: As more consumers embrace plant-based and vegan diets, mushrooms are being adopted as a key protein alternative, especially in vegetarian and vegan food products.
- Increased Production of Specialty Mushrooms: With growing interest in exotic and functional varieties such as shiitake, maitake, reishi, and lion’s mane mushrooms, producers are expanding their portfolios to cater to this demand.
- Sustainability Trends: Sustainable farming practices in mushroom production, including organic and environmentally friendly methods, are contributing to market growth. Mushrooms are also being used in various environmentally sustainable products like biodegradable packaging.
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Key Developments from Key Countries
- United States
The U.S. mushroom market is one of the largest globally, with significant growth in both fresh and processed mushroom segments. The increasing popularity of plant-based diets and the rise of functional foods have fueled demand. Key players are innovating by introducing mushroom-based meat substitutes and dietary supplements. - Europe
Europe is witnessing a growing trend toward organic and sustainably produced mushrooms. The EU’s focus on reducing the environmental footprint of food production is fostering a rise in eco-friendly farming methods, which is positively impacting the mushroom market. Countries like the Netherlands, Poland, and Germany are major producers of mushrooms in Europe. - Asia-Pacific
In the Asia-Pacific region, China is the largest producer and consumer of mushrooms, particularly in the fresh segment. The growing demand for exotic mushrooms like shiitake, oyster, and enoki is also expanding in countries such as Japan, South Korea, and India, where the consumption of functional mushrooms is rising. - Latin America
In Latin America, Brazil is seeing increasing interest in gourmet mushrooms, as well as functional mushrooms for their medicinal properties. The market for specialty mushrooms like shiitake and oyster mushrooms is growing steadily, especially in urban centers. - Middle East & Africa
In the MEA region, there is a rising trend toward health-conscious eating, leading to increased demand for mushrooms, particularly those with functional health benefits. In countries like South Africa and the UAE, there is growing interest in incorporating mushrooms into traditional cuisine and dietary supplements.
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Mergers and Acquisitions: Key Moves in the Mushroom Market
Mergers and acquisitions have been instrumental in driving consolidation and innovation within the mushroom market. Some notable M&A activities include:
- Monaghan Mushrooms and Vitality Foods: Monaghan Mushrooms, one of the world’s largest mushroom producers, recently acquired Vitality Foods, a U.S.-based organic mushroom supplier. This acquisition allows Monaghan to strengthen its organic portfolio and expand its presence in North America’s growing organic market.
- Highline Mushrooms and Tasteful Selections: Highline Mushrooms, a leading North American mushroom producer, has expanded its product offerings through the acquisition of Tasteful Selections, a supplier of gourmet mushrooms. The merger is expected to allow Highline to tap into the growing demand for specialty mushrooms like maitake and shiitake.
- Greenyard and Fungi Perfecti: Greenyard, a global leader in fresh food production, acquired Fungi Perfecti, a U.S.-based supplier specializing in functional mushrooms. The acquisition strengthens Greenyard’s position in the health and wellness sector, with an emphasis on medicinal mushrooms like reishi, chaga, and lion’s mane.
- Dole Food Company and Gourmet Mushrooms, Inc.: Dole’s acquisition of Gourmet Mushrooms, Inc. expands its portfolio into the organic and specialty mushroom market. The acquisition allows Dole to diversify its product offerings in line with consumer demand for organic and nutrient-rich foods.
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Key Players in the Mushroom Market
Several key players are shaping the future of the mushroom market through innovation, strategic acquisitions, and market expansion:
- Monaghan Mushrooms
Monaghan Mushrooms is one of the largest mushroom producers globally, known for its diverse product portfolio that includes fresh, organic, and specialty mushrooms. The company has made strategic acquisitions to strengthen its presence in key markets, including North America and Europe. - Highline Mushrooms
A leading player in the North American mushroom market, Highline Mushrooms has been expanding its product offerings through strategic mergers and acquisitions. The company’s focus on high-quality, sustainable mushrooms has helped it maintain a competitive edge in the growing market. - Greenyard
Greenyard is a major producer of fresh and prepared vegetables, fruits, and mushrooms. The company’s acquisition of Fungi Perfecti reflects its commitment to expanding its organic and functional mushroom offerings in response to consumer demand for healthy, sustainable products. - Dole Food Company
As one of the largest fresh food companies globally, Dole’s acquisition of Gourmet Mushrooms allows it to enter the organic mushroom segment and expand its focus on plant-based products, aligning with growing consumer interest in plant-forward diets. - Okechamp
Okechamp is a major player in the European mushroom market, offering a variety of fresh and processed mushroom products. The company is investing in new technologies to improve mushroom cultivation and processing efficiency, contributing to the growth of the global mushroom market.
Market Outlook: Future Trends and Opportunities
The global mushroom market is expected to continue its upward trajectory as demand for both culinary and functional mushrooms rises. Consumer interest in plant-based diets, health and wellness products, and sustainable food options will further drive market growth. Key opportunities in the market include:
- Functional Mushrooms: The growing demand for medicinal mushrooms with health benefits, such as reishi, lion’s mane, and chaga, is expected to be a key growth driver. These mushrooms are being used in dietary supplements, beverages, and functional foods.
- Exotic and Specialty Varieties: There is increasing demand for exotic mushrooms such as shiitake, maitake, and enoki, which are being incorporated into gourmet dishes, processed food products, and health supplements.
- Sustainable Farming: The adoption of sustainable farming practices, such as organic cultivation and energy-efficient mushroom production, will continue to be a significant trend, contributing to market growth while addressing consumer demand for eco-friendly products.
- Product Innovation: Brands that focus on innovative applications of mushrooms in food products, such as mushroom-based meat substitutes, snacks, and beverages, will be well-positioned to tap into new consumer segments.
Conclusion
The mushroom market is set for sustained growth, driven by health-conscious consumers, the rising popularity of plant-based diets, and an increasing demand for functional and exotic mushroom varieties. With strategic mergers and acquisitions continuing to reshape the competitive landscape, the market is expected to experience further consolidation and innovation. Companies that embrace sustainability, innovation, and consumer trends toward wellness will be well-positioned to succeed in this rapidly evolving market.
Mushroom Market segments
by Type
Button Mushroom
Shiitake Mushroom
Oyster Mushroom
Others
The button mushroom, shiitake mushroom, oyster mushroom, and other types of mushrooms make up the global mushroom market. In 2023, the button mushroom sector had the biggest market share, accounting for 61.8%. These are widely cultivated all over the world because of their antioxidant qualities and the spores’ accelerated incubation period. Additionally, the market is anticipated to expand throughout the projected period as a result of their lower costs when compared to their competitors. On the other hand, during the projected period, the shiitake sector of the global mushroom market is anticipated to rise at the highest CAGR of 7.3%.
by Form Type
Fresh Mushroom
Processed Mushroom
Dried Mushroom
Frozen Mushroom
Canned Mushroom
Others
by Distribution Channel
Hypermarkets and Supermarkets
Conventional Store
Others
Over the course of the projection period, the hypermarket/supermarket is anticipated to dominate the market. Supermarkets and hypermarkets, which accounted for 38.3% of sales in 2023, are the primary distribution channels for the mushrooms. In industrialized regions like North America and Europe, supermarkets and hypermarkets are more prevalent than in emerging ones.
by Application
Food Processing Industry
Retail Outlets
Food Services
Others
Mushroom Market Key Players
1. Drinkwater’s Mushrooms Ltd
2. Lutece Holdings B.V.
3. Okechamp S.A.
4. The Mushroom Company
5. Bonduelle SCA
6. Monterey Mushrooms Inc.
7. Costa Group Holdings Limited
8. Shanghai Finc Bio Tech Inc.
9. Monaghan Mushrooms Ltd.
10. CMP Mushrooms Greenyard NV
11. Fresh Stock
12. Agro Dutch Industries Ltd
13. Hughes Mushroom
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