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Forecast Period
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2024-2028
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|
Market Size (2022)
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USD 17.60 Billion
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CAGR (2023-2028)
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5.21%
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Fastest Growing Segment
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Shiitake Mushroom
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Largest Market
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Asia Pacific
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Market Overview
Global Mushroom
Cultivation Market has valued at USD 17.60 Billion in
2022 and is anticipated to project impressive growth in the forecast period
with a CAGR of 5.21% through 2028. Mushroom
cultivation is the process of cultivating edible fungi, commonly known as
mushrooms, for human consumption. The process commences with the selection of a
suitable mushroom variety, followed by the preparation of a growth medium,
typically a composted substrate abundant in organic matter. The prepared
substrate is then inoculated with mushroom spawn, harboring the mycelium, which
constitutes the vegetative part of the fungus. The inoculated substrate is
subjected to controlled environmental conditions, facilitating the
proliferation of the mycelium and eventual formation of mushroom fruiting
bodies. Mushroom cultivation is gaining worldwide recognition due to its
economic advantages, sustainability, and the increasing demand for mushrooms
owing to their nutritional and medicinal properties.
Key Market Drivers
Increased
Adoption of Vegan & Vegetarian Diets
The global shift towards vegan and
vegetarian diets is expected to significantly bolster the demand for mushroom
cultivation. Mushrooms, with their rich, umami flavor and meaty texture, have
long been a staple in vegetarian cuisine, serving as a versatile and nutritious
meat substitute. Furthermore, they offer a high protein content, essential
vitamins, and minerals, aligning perfectly with the nutritional requirements of
vegan and vegetarian diets. As more people adopt plant-based lifestyles, the
demand for mushrooms is anticipated to surge globally. Plus, the environmental
benefits of mushroom farming, including lower water and land usage compared to
traditional livestock farming, resonate with the environmentally conscious
consumer's values. The trend of farm-to-table and organic food is also
contributing to the rising interest in mushroom cultivation. Increasing
awareness about the health benefits of mushrooms, including their potential
role in boosting immunity, enhancing brain health, and supporting weight
management, further propels market growth. With trends like veganism and
sustainability shaping consumer preferences, mushroom cultivation is poised for
substantial growth in the global agricultural landscape.
Advancements
in Mushroom Farming Techniques
Advancements in mushroom farming
techniques are anticipated to catalyze a global increase in mushroom
cultivation. Innovative cultivation techniques, such as controlled environment
agriculture (CEA) and hydroponics, are allowing farmers to optimize production,
minimize waste, and maintain consistent mushroom yield throughout the year,
irrespective of climatic conditions. They offer the ability to control multiple
environmental parameters, including light, temperature, and humidity, enabling
the cultivation of a wide variety of mushroom species that would otherwise
require specific geographic and climatic conditions. Furthermore, these
techniques reduce the dependence on pesticides and other chemical inputs,
aligning with the global trend towards sustainable and organic agriculture.
Advanced technologies, such as artificial intelligence (AI) and machine
learning, are further revolutionizing mushroom farming by providing predictive
analytics and data-driven insights to increase efficiency and maximize yield.
The adoption of these advanced farming techniques is not only increasing the
profitability of mushroom cultivation but also making it a viable and appealing
venture for a new generation of farmers. As a result, the global demand for
mushroom cultivation is expected to see a significant surge in the coming
years, driven by these advancements in farming techniques.
Rising
Application of Mushrooms in The Pharmaceutical Industry
The escalating utilization of mushrooms
in the pharmaceutical industry is anticipated to significantly drive the global
mushroom cultivation market. Renowned for their therapeutic properties,
mushrooms are increasingly being incorporated into medicinal formulations to
treat and prevent a multitude of health conditions. Rich in antioxidants,
vitamins, and minerals, mushrooms are being harnessed in the production of
pharmaceuticals aimed at enhancing immunity, combating stress, and supporting
overall health. Furthermore, certain varieties of mushrooms, like Reishi and
Cordyceps, contain bioactive compounds that have been linked to cancer
prevention, asserting their prominence in oncology. As research continues to
uncover the potent medicinal value of mushrooms, their demand in the
pharmaceutical realm is expected to surge. This, in turn, is projected to
stimulate mushroom cultivation globally, as suppliers strive to meet the
burgeoning demand. Furthermore, advancements in cultivation technology and
techniques, coupled with supportive government initiatives promoting mushroom
farming, are predicted to further augment this growth. Hence, the rising
application of mushrooms in the pharmaceutical industry stands as a pivotal
factor propelling the mushroom cultivation market worldwide.
Growing
Global Population & Corresponding Increase in Food Demand
The escalating global population, set to
reach 9.7 billion by 2050 according to the United Nations, is leading to a
corresponding surge in food demand. This increase necessitates boosting the
production of high-nutrient foods, such as mushrooms, to maintain food
security. Mushroom cultivation, being sustainable and requiring minimal land,
is an attractive solution. Mushrooms, a rich source of protein, vitamins, and
minerals, can contribute significantly to a balanced diet. Additionally,
technological advancements in mushroom cultivation have allowed for year-round
production and higher yields. The ability to cultivate mushrooms on various
substrates, including organic waste, further enhances their sustainability
profile. Growing awareness of these benefits is predicted to fuel the global
demand for mushroom cultivation. Furthermore, the increasing preference for
plant-based protein sources in response to health and environmental concerns is
expected to drive market growth. Adopting mushroom cultivation on a larger
scale can substantially meet the rising food demand, thereby playing a crucial
role in ensuring global food security in the face of the burgeoning population.
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Key Market Challenges
High
Initial Investment
The high initial investment required for
mushroom cultivation is a significant barrier that can potentially decrease the
global demand for this practice. Setting up a mushroom farm involves numerous
costs, including land acquisition, construction of growing rooms, purchasing of
specialized equipment, and the implementation of climate control systems.
Additionally, the production of mushroom substrate — the material on which
mushrooms grow — can be an expensive process, particularly for those growers
who opt to sterilize their own substrate. Training and skill development for
mushroom cultivation is another area that requires substantial investment.
Moreover, the return on this investment is not immediate due to the
time-consuming nature of mushroom farming. The incubation period before the
first harvest can be several weeks, during which maintenance costs continue to
accrue. Furthermore, the market price of mushrooms can fluctuate, adding to the
financial risk associated with this agricultural sector. As a result of these
factors, potential growers, particularly in developing countries, may be
deterred by the high upfront costs and opt for other, less capital-intensive
agricultural practices. This could result in a decrease in global mushroom
cultivation, despite the market potential for this high-demand product.
Supply
Chain Issues
Supply chain disruptions are posing
significant challenges to industries across the globe, and the mushroom
cultivation sector is not exempt. Key elements in the cultivation chain, such
as the delivery of compost and casing soil, as well as the sourcing of quality
mushroom spawn, are being impacted. Transport restrictions, labor shortages,
and trade barriers are contributing to delays and increased costs, affecting
the overall efficiency and profitability of mushroom cultivation. Additionally,
the mushroom industry, known for its just-in-time supply model, is quite
sensitive to these disruptions, leading to spoilages and wastage as mushrooms
are perishable commodities. This, in turn, discourages producers from expanding
their operations or even maintaining their current scale. Furthermore,
consumers' purchasing habits have been influenced by the pandemic's economic
impacts, leading to reduced demand for cultivated mushrooms. Uncertainties
surrounding the supply chain are also causing hesitation among potential
investors in the mushroom cultivation industry. In this context, it is expected
that global demand for mushroom cultivation will decrease until the supply
chain issues are resolved.
Key Market Trends
Surge
in Demand for Disease-Resistant Mushroom Varieties
The global surge in demand for
disease-resistant mushroom varieties is anticipated to significantly boost
mushroom cultivation. Mushrooms are known for their nutritional value,
providing essential minerals and vitamins while being low in calories. However,
they're susceptible to numerous diseases that can drastically affect their
yields. The introduction and cultivation of disease-resistant mushroom
varieties provide a solution, enhancing their resilience and ensuring
consistent high-quality yields. This innovation has sparked a renewed interest
in mushroom cultivation, attracting both large-scale commercial growers and
small-scale home gardeners. In addition to bolstering food security, these
disease-resistant varieties also present an attractive investment opportunity.
The rise in health-conscious consumers, coupled with the growing popularity of
vegan and vegetarian diets, is driving the demand for mushrooms, and
disease-resistant varieties offer a sustainable and reliable supply. Moreover,
the adoption of advanced farming techniques and technologies, such as
controlled environment agriculture (CEA) and vertical farming, is further
propelling the growth of mushroom cultivation. This approach enables growers to
optimize growth conditions, further enhancing the productivity of
disease-resistant varieties. Furthermore, the implementation of supportive
government policies to educate farmers and promote the adoption of these
innovative agricultural practices is expected to provide an additional boost to
mushroom cultivation globally.
Rising
Consumer Awareness About the Health Benefits Of Mushrooms
Rising consumer awareness about the
health benefits of mushrooms is accelerating global demand for mushroom
cultivation. Mushrooms, renowned for their nutritional content, are rich in
vitamins, minerals, and antioxidants, supporting immune health and reducing the
risk of cardiovascular diseases. They are also low in calories, making them an
ideal choice for those pursuing weight management. The popularity of
plant-based diets amplifies mushrooms' position as a high-quality meat
substitute, attracting not just vegans and vegetarians, but also omnivores
looking for healthier options. This increased consumer awareness is
supplemented by the mushroom's versatile culinary applications, from gourmet
meals to everyday dishes. Simultaneously, advancements in cultivation
techniques are making mushroom farming more accessible and productive, catering
to this surging demand. Governments worldwide are also encouraging mushroom
farming due to its low environmental footprint and potential for rural
livelihoods. Moreover, sustainable and organic farming trends are aligning with
consumer preferences for clean, green food, further propelling the global
mushroom cultivation market. Consequently, the mushroom cultivation sector is
poised for robust growth, driven by heightened consumer awareness and favorable
market conditions.
Segmental Insights
Type Insights
Based on
the Type, the Button Mushroom, scientifically known as Agaricus bisporus, is
currently dominating the global mushroom cultivation market. This can be
attributed to its exceptional nutritional profile, versatility in various
cuisines, and wide acceptance across the globe. With its rich content of
essential vitamins, minerals, and antioxidants, the Button Mushroom has gained
significant popularity in the health and wellness industry, catering to the
ever-growing demand for nutritious and functional food options.
Moreover,
what sets the Button Mushroom apart is not only its nutritional value but also
its ease of cultivation and relatively higher yield compared to other mushroom
types. The cultivation process of the Button Mushroom is relatively
straightforward, making it an attractive choice for both commercial and home
growers. The ability to produce a considerable quantity of mushrooms in a
relatively short period has further solidified its leading position in the
market. With its remarkable attributes and benefits, the Button Mushroom
continues to be the preferred choice for consumers, chefs, and mushroom
enthusiasts alike, making it a true powerhouse in the global mushroom industry.
Technique Insights
Based on
the Technique, the Global Mushroom Cultivation Market has witnessed a
significant shift in dominance between the Bedding and Cushion techniques, with
the former currently holding a commanding position. The Bedding technique,
which involves the utilization of composted substrates, creates an optimum
nutrient-rich environment that fosters the growth of a diverse range of
mushroom species. This method has garnered popularity among mushroom
cultivators worldwide due to its exceptional cost-effectiveness and remarkable
yield. The Bedding technique, with its well-balanced mixture of composted
substrates, provides an ideal ecosystem for mushroom cultivation. The carefully
selected combination of organic materials creates a nourishing environment that
supports the healthy growth and development of various mushroom species. This
technique not only ensures high productivity but also allows cultivators to
achieve remarkable profitability in the industry.
Moreover,
the Bedding technique offers a sustainable approach to mushroom cultivation. By
utilizing composted substrates, cultivators can effectively recycle organic
waste and reduce their environmental footprint. This aspect has further
contributed to the growing adoption of the Bedding technique among
environmentally conscious cultivators. The Bedding technique has emerged as the
preferred choice for numerous mushroom cultivators worldwide. Its
cost-effectiveness, remarkable yield, and ability to provide an ideal ecosystem
for mushroom cultivation make it a valuable tool for maximizing productivity
and profitability in the industry. Additionally, its sustainable approach
aligns with the growing demand for environmentally friendly practices in
agriculture.
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Regional Insights
The Asia
Pacific region is projected to dominate the Global Mushroom Cultivation Market,
primarily driven by factors such as the substantial consumption of mushrooms in
countries like China, Japan, and South Korea, as well as the presence of
large-scale mushroom growers in these nations. Furthermore, government
initiatives aimed at promoting mushroom cultivation for its nutritional and
medicinal benefits are further propelling market growth in this region. The
Asia Pacific region demonstrates a higher prevalence of traditional medicine
systems, including Ayurveda and Traditional Chinese Medicines, which utilize
various mushroom species for treating diverse diseases. The region's demand for
mushrooms is expected to be fueled by their low-calorie, high-nutritional
value, and immunity-boosting properties.
Europe
stands as a key consumer of mushrooms and relies heavily on imports. The
region's developed market with higher per capita income provides an additional
opportunity for exotic mushrooms, such as gourmet products. North America holds
a significant market share, driven by the higher market penetration in
developed economies like the U.S. and Canada. Consumers in these regions are
willing to pay premium prices for products that are specifically produced using
natural and organic ingredients. Furthermore, the growing preference for a
vegan diet is expected to drive the demand for meat replacers like mushrooms in
the food and dietary supplements industries throughout the forecast period.
Recent Developments
- January
2021: South Mill Champs Expands Mushroom Processing Capabilities with
Acquisition of The Mushroom Company.
- In August
2019, Highline Mushrooms announced a USD 20 million investment to establish a
second cross-field mushroom.
- In March 2018, Highline Mushrooms, a
prominent Canadian mushroom company, acquired Prairie Mushrooms, a leading
coast-to-coast mushroom grower-shipper in Canada.
Key Market Players
- Smithy Mushrooms Ltd.
- Rheinische Pilz Zentrale GmbH
- Monaghan Mushrooms Ltd
- Walsh Mushrooms Group
- South Mill Mushrooms Sales Inc.
- Hirano Mushroom LLC
- Gourmet Mushrooms, Inc.
- Fresh Mushroom Europe NV
- L F Lambert Spawn Co
- Polar Shiitake Oy
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By Type
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By Phase
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By Form
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By Technique
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By Region
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- Button Mushroom
- Oyster Mushroom
- Shiitake Mushroom
- Others
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- Composting
- Spawning
- Casing
- Pinning
- Harvesting
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- Canned
- Frozen
- Fresh
- Dried
- Others
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- North America
- Europe
- Asia Pacific
- South America
- Middle East &
Africa
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Report Scope:In this report, the Global Mushroom Cultivation Market
has been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Mushroom Cultivation Market, By Type:
o Button Mushroom
o Oyster Mushroom
o Shiitake Mushroom
o Others
- Mushroom Cultivation Market, By Phase:
o Composting
o Spawning
o Casing
o Pinning
o Harvesting
- Mushroom Cultivation Market, By Form:
o Canned
o Frozen
o Fresh
o Dried
o Others
- Mushroom Cultivation Market, By Technique:
o Bedding
o Cushion
- Mushroom Cultivation Market,
By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
§ Turkey
§ Egypt
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the Global Mushroom Cultivation Market.
Available Customizations:
Global Mushroom Cultivation market report with
the given market data, TechSci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
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