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 global mushroom cultivation market is projected to witness significant growth due to factors such as the multiple health benefits of mushrooms, increasing per capita mushroom consumption, cost-effective production and rising demand for vegan and natural food in the diet and increasing health conscious population across the globe are some of the major factors fueling the demand for mushroom cultivation.
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.
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Drivers and Restraints:
Market dynamics for mushroom cultivation continue to evolve on the basis key drivers and restraints. The rising demand for organic and healthy food products and owing its multiple health benefits and growing adaption in vegetarian diets among consumers at a global level increases the demand for mushroom cultivation. The key drivers and restraints in mushroom cultivation market are enlisted below.
Key drivers for mushroom cultivation include:
1.Multifunctionality of mushrooms
2.Cost-effectiveness associated with mushroom cultivation
Restraints impeding the market include:
1.Spawn production in developing countries
The total number of edible and medicinal fungi is over 2300 species. Cultivated mushrooms have become popular with over 200 genera of macrofungi and are useful for consumption. Most of them are cultivated on lignocelluloses (plant dry matter) waste materials and contribute to their recycling. The most common mushrooms that are produced and consumed are button mushrooms (Agaricus bisporus), shiitake mushrooms (Lentinula spp.), and oyster mushrooms (Pleurotus spp). The major mushroom types are enlisted below:
Top mushroom types of mushroom cultivation:
1.Button mushroom
2.Oyster mushroom
3.Shiitake mushroom
4.Paddy straw mushroom
Mushroom cultivation serves as a profitable business, as it can be grown indoors and provides income throughout the year since it can be grown in any season. As the cost of mushroom cultivation is low, and it requires less labor and promotes sustainable options, since it uses agriculture wastes as a substrate for growth, several companies are opting for mushroom cultivation. The leading players in mushroom cultivation market are listed below.
Top 10 players in mushroom cultivation include:
1.Monaghan Mushrooms
2.Walsh Mushrooms Group
3.Mycelia
4.South Mill Mushrooms Sales
5.Smithy Mushrooms Ltd.
6.Mushroom S.A.S
7.Hirano Mushroom LLC
8.Societa Agricola Italspawn di Valentino e Massimo Sartor
9.Fujishukin Co.Ltd.
Gourmet Mushrooms Inc.
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