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Mushroom Cultivation Market to See Major Growth by 2025

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Mushroom Cultivation Market to See Major Growth by 2025

February 10
17:31 2021
Mushroom Cultivation Market to See Major Growth by 2025

MarketsandMarkets™
The mushroom cultivation market is estimated to account for a value of USD 16.7 billion in 2020 and is projected to grow at a CAGR of 4.0% from 2020, to reach a value of USD 20.4 billion by 2025

The report Mushroom Cultivation Market by Type (Button mushroom, Oyster mushroom, Shiitake mushroom, Other types), By Phase, By Region (North America, Europe, Asia Pacific, South America, Rest of the World) – Global Forecast to 2025″, The mushroom cultivation market is estimated at USD 16.7 billion in 2020 and is projected to reach USD 20.4 billion by 2025, at a CAGR of 4.0% during the forecast period. The market is driven by the rise in the number of consumers switching towards flexitarian and vegetarian diets, especially in developed countries. Mushrooms are a rich source of vitamins and serve as a meat alternative. Apart from this, in developing countries, cost-effectiveness associated with mushroom cultivation has gained the interest of growers. The availability of abundant agriculture wastes that act as a substrate for mushroom cultivation is further expected to boost mushroom production in these countries.

Mushroom Cultivation Market

The shiitake mushroom segment is projected to be the fastest-growing in the mushroom cultivation market during the forecast period.

Also known as Black Forest mushrooms, these mushrooms are preferred by consumers because of their aromatic flavor, various nutritional and medicinal health benefits. They are one of the most popular cultivated varieties of specialty mushrooms. Native to Asia, it is primarily cultivated in Japan, China, and the US. They are a rich source of vitamins, minerals, protein, and are low in calories. Multiple health benefits associated with shiitake mushrooms is expected to boost its sales in the coming years at a global level.

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The higher per capita mushroom consumption and adoption of modern mushroom cultivation techniques in the Asia Pacific region is projected to drive the growth of the mushroom cultivation market

According to the China Business Research Institute, the country was the largest edible mushroom producer at a global level and reached an estimated annual yield of 38.42 million tonnes in 2017. This accounted for about 75% of the total global output. Furthermore, the CCCFNA Edible Mushroom Branch (2018) stated that the export of edible mushrooms was valued at USD 3.8 billion in the same year. According to a research paper, mushroom cultivation is the fifth-largest agricultural sector in the country, valued at USD 24.0 billion. The Asia Pacific is the leading region in the global mushroom production market. The per capita consumption in China, the largest producer of mushrooms in the world, is higher than any other country. The consumption of mushroom in Asian countries such as Japan, India, and others are increasing at a significant rate accredited by increasing production. Increasing vegan population and shifting trend toward nutrition-rich food have led to the market growth of mushrooms in Asian countries.

Key Market Players:

Key players in this market include Monaghan Mushrooms (Ireland), Walsh Mushrooms Group (Ireland), Mycelia (Belgium), South Mill Mushrooms Sales (US), Smithy Mushrooms Ltd. (UK), Rheinische Pilz Zentrale GmbH (Germany), Italspwan (Italy), Mushroom SAS (Italy), Hirano Mushroom LLC (Kosovo), Fujishukin Co. Ltd. (Japan). These major players in this market are focusing on increasing their presence through mergers & acquisitions, new product launches, and agreements. These companies have a strong presence in Asia Pacific, Europe, and North America. They also have substrate manufacturing facilities and strong distribution networks across these regions.

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