The global mushroom market is expected to reach 20.84 million tons by 2026 while exhibiting a CAGR of 6.41% during the foreseeable future. This information is published by Fortune Business Insights™ in its report "Mushroom Market, 2019 - 2026 ". The report further observes that the market stood at 12.74 million tons in 2018. The conclusions by various research support the fact that consumption of the product help in boosting immunity, enhancement of overall health, gaining nutrition, weight management, and others. They have also been associated with reducing the risk of certain diseases, especially cancer of the prostate gland.
Anti-Inflammatory Property to Boost Product Demand
The pandemic resulted in various logistical issues. The availability of transport was erratic due to lockdown restrictions. The Scandinavian Foundation for Immunology conducted research in 2021 on the prophylactic or therapeutic effect against COVID-19 and its pneumonic superinfection and complicating inflammation. The conclusion was that certain fungus with their anti-inflammatory might be suitable for treatment post COVID-19 infection. Search research is expected to boost the market even in a pandemic situation.
Based on type, the market is segmented into button, shiitake, oyster, and others. According to Polish Economic Institute, Poland is the largest producer of the button type and accounts for more than 50% of European Union's exports. Based on form, the market is segregated into fresh, frozen, dried, and canned. The market region is across North America, Europe, Asia Pacific, South America, and the Middle East Africa.
What Does the Report Contain?
The report has an elaborate analysis of the market dynamics and competitive landscape. The details of various mergers and acquisitions affecting the market are enlisted for the client's requirement. The positive and negative aspects of the trade are mentioned in the report to facilitate well-informed decision-making by the client. The regulatory scenarios of various prominent economies are also mentioned along with future industry trends.
Increasing Adoption of Vegan Diet to Propel Market Growth
This high demand can be attributed to the shift of consumption pattern from meat and dairy products to veganism. These fungi are consumed in high volume by vegans as a replacement for high protein meat. The growing investment in the research and development is expected to favor the global mushroom market growth. For instance, Guizhou Bright Lingang Jotoku Bio-tech, automated their harvesting process in 2021 and raised their efficiency to produce 230 metric tons per 15 hectares. Owing to its anti-inflammatory property, coupled with immunity-boosting quality, the demand for the product is expected to surge during the forecast period.
Growing Preference for Exotic Food Products in Asia Pacific to Aid Growth
Asia Pacific is expected to hold a substantial mushroom market share in the foreseeable future. The consumption of exotic food products in countries like India, China, and Japan is expected to bode well for the demand for the product.
Europe is expected to showcase considerable growth due to the increasing number of health-conscious consumers. The demand for the product in this region is primarily for two reasons. The medicinal uses and nutritional gains of this product are several which has resulted in the tremendous growth of this fungus.
Market Players Improve Distribution Channels to Expand Their Business Horizons
The producers of this market consist of both large-scale and small-scale producers. The products available in the Hypermarket/supermarkets are mostly produced by the large-scale producer while the local grocery stores buy their stock from local farmers. Certain regions across the globe are facing issues with distribution channels which are market efficiency that can be explored by the new entrants. Moreover, investment in the uses of the fungus is expected to rapidly gain profits.
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