The anticipated market size of the global edible fungus market by 2034 will be US$ 81.48 billion at a sluggish-to-moderate CAGR of 4.5%. The estimated market size after 2024 will be US$ 52.24 billion.
The fundamental market driver for the subject market is the changing consumer preferences worldwide. Health consciousness is embraced by most of them, which emphasizes restructuring the diet. Mushroom provides a perfect option for nutrient-rich food. Consequently, its demand is rising, driving the subject market.
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The growth of the food and beverage industry leverages the scope of innovation, allowing for different obsolete items to be included. Mushroom falls under the said category and has also gained popularity in the industry. Due to this, it drives the subject market.
Mushrooms have gained popularity as an alternative to meat. Consumers, being more inclined toward vegan and vegetarian diets, prefer mushrooms as a replacement for meat. Hence, this drives the market.
Key Takeaways from the Market Study
- The Indian edible fungus market creates lucrative opportunities for many key players as it advances at the highest CAGR of 7.2%.
- Germany leads the European market and advances at a CAGR of 4.2%.
- The fresh edible fungi category is the largest segment, holding 67.3% of the market.
- Button mushrooms are preferred more in the consumer market, justifying their 37.8% market share in the subject market.
“The establishment of an appropriate and well-structured distribution channel for the edible fungus market is a key market challenge,” says an FMI analyst.
Competitive Landscape
The fierce competition in the edible fungus market results from a large force exerted by a few key market players. The retail suppliers govern the competitive space. Various key market expansion modes, including mergers and acquisitions, product development, and market diversification, are used by businesses to govern the subject market.
The following are key market developments observed in the last few years in the given competitive landscape:-
- In April 2022, Smithy Mushrooms was granted permission to expand its business by building an exotic mushroom farm at Bungalow Farm, Scarisbrick. This was a great opportunity for the business to develop in the edible fungus market.
- In November 2023, Monterey Mushrooms, Inc. had to shut down Illinois and Florida farms. The organization claims to have faced many challenges in the hindsight of the pandemic, which resulted in the decision.
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More Valuable Insights Available
Future Market Insights offers an unbiased edible fungus market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.
Product Type (Button Mushroom, Shiitake Mushroom, Oyster Mushroom, and Others), Form (Fresh, Processed, Dried, Frozen, and Canned), Nature (Organic and Conventional), and End Use (Food Processing Industries, Food Service Restaurants, Retail Outlets, Hypermarket/Supermarket, Convenience Stores, Departmental Stores, Wholesale Stores, Mass Grocery Retailers, Independent Retailers, Specialty Stores, and Online Retailers) segment of the subject market.
About the Food and Beverage Domain at Future Market Insights
Future Market Insights’ food and beverage team offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has lucidly analyzed the industry in 50+ countries for over a decade. The team briefly analyses key trends, including competitive landscape, profit margin, and research development efforts.
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Edible Fungus Market – Key Segments
By Product Type:
- Button Mushroom
- Shiitake Mushroom
- Oyster Mushroom
- Others
By Form:
- Fresh
- Processed
- Dried
- Frozen
- Canned
By Nature:
- Organic
- Conventional
By End Use:
- Food Processing Industries
- Food Service Restaurants
- Retail Outlets
- Hypermarket/Supermarket
- Convenience Stores
- Departmental Stores
- Wholesale Stores
- Mass Grocery Retailers
- Independent Retailers
- Specialty Stores
- Online Retailers
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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