The mushroom market has grown exponentially in the last few years and this trend is projected to continue. The market was valued at $29,427.92 million in 2013; and at a CAGR of 9.5% from 2014, it is projected to reach $50,034.12 million by 2019. The market is being driven by the rise in consumption of processed food, rise in consumer awareness about health and wellness, cultivation being a promising and profitable business, and continuous R&D and innovations to expand applicability and accelerate growth. On the other hand, limited shelf-life is the major challenge faced by the mushroom market.
Europe accounted for the largest share of the mushroom market in 2013 and is projected to grow at the highest CAGR of 10.8% between 2014 and 2019. The market in the Asia-Pacific region is projected to be the second-largest in the next five years. These regions are projected to be emerging revenue-generating pockets for market players. The shiitake mushroom market is projected to be the fastest-growing in the next five years, followed by button mushrooms. Processed mushrooms accounted for more than half of the global mushroom market in 2013.
In this report, the mushroom market has broadly been segmented on the basis of types, applications, and regions. The mushroom market is marked with intense competition due to the presence of a large number of both large- and small-scale firms. Expansions, acquisitions, agreements, and new product developments are the key strategies adopted by market players in order to ensure their growth in the market. The market was dominated by players such as Costa Pty Ltd. (Australia), Phillips Mushroom Farms, Inc. (U.S.), Shanghai FINC Bio-Tech Inc. (China), and Bonduelle Fresh Europe (France) in terms of developments between 2010 and 2014.