Multiple nutritional benefits of consuming dried mushrooms are raising the demand for it, which in turn, is driving the growth of the global dried mushroom market.
PORTLAND, Ore., Jan. 13, 2023 — Allied Market Research published a report, titled, “Dried Mushroom Market by Type (Button, Shiitake, Oyster, Other), by Application (Food Service Industry, Retail, Industrial), by Sales Channel (Business to Business, Business to Consumer): Global Opportunity Analysis and Industry Forecast, 2021-2031“. According to the report, the global dried mushroom industry generated $3.9 billion in 2021, and is anticipated to generate $8.6 billion by 2031, witnessing a CAGR of 8.6% from 2022 to 2031.
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Prime determinants of growth
Multiple nutritional benefits of consuming dried mushrooms are raising the demand for it, which in turn, is driving the growth of the global dried mushroom market. However, restricted availability of dried mushroom products for retail sales and less knowledge about the benefits of dried mushrooms among consumers are expected to restrain the market growth.
- The outbreak of the Covid-19 pandemic had a negative impact on the global dried mushroom market, owing to implementation of the global lockdown.
- People were restricted to stay at their homes to stop the spread of the disease which led to a decline in the sales of retail dried mushrooms.
- Food processing units stopped their production and reduced their workforce to restrict the spread of the coronavirus, which significantly affected the production of dried mushrooms.
- Furthermore, during the COVID-19 period, stagnated export and import activities, closures of the hotel, restaurants and fast-food outlets, which are considered to be highest dried mushroom end users, negatively impacted the global dried mushroom industry in 2020.
The shiitake segment to maintain its leadership status throughout the forecast period
Based on product type, the shiitake segment held the highest market share in 2021, accounting for more than two-fifths of the global dried mushroom market, and is estimated to maintain its leadership status throughout the forecast period. Shiitake mushroom helps in reducing the risk of heart diseases, diabetes, autoimmune disorders, and certain kind of cancers as it contains vitamin D which is essential for health. Owing to its medical benefits, it is considerably used in the pharmaceutical industry. However, the oyster segment is projected to manifest the highest CAGR of 9.8% from 2022 to 2031. One of the most common types of cultivated mushrooms in the world is oyster mushrooms. Dried oyster mushroom is considerably used in food processing industries for making ready-to-eat supplement products. To generate value-added products, various processing procedures for fresh and dried oyster mushrooms have been standardized.
The food service industry segment to maintain its leadership status throughout the forecast period
Based on application, the food service industry segment held the highest market share in 2021, accounting for around two-fifths of the global dried mushroom market, and is estimated to maintain its leadership status throughout the forecast period. The dried mushrooms are increasingly used in restaurants and hotels, owing to their high durability as compared to fresh mushrooms. However, the retail segment is projected to manifest the highest CAGR of 10.1% from 2022 to 2031. The retail use of mushrooms will grow in upward direction till 2031. As a result of COVID-19, people have changed their lifestyles. They are trying to consume food that is home made. Due to this reason, consumers are trying to use mushrooms for residential use. As people demand authentic home-made food, the residential use of mushrooms tend to propel the mushroom market in a positive way through the retail segment.
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Europe to maintain its dominance by 2031
Based on region, Europe held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global dried mushroom market, and is likely to dominate the market during the forecast period. This rise is expected to be driven by shifts in European consumers’ consumption habits. This includes the increasing interest in replacing vegan food and animal protein. Increased interest in medicinal mushrooms will be a further driving force as they are rich in micronutrients and support the immune system. However, the Asia-Pacific region is expected to witness the fastest CAGR of 10.0% from 2022 to 2031. Growing food service industry and food processing industry in Asia-Pacific countries, especially in India and China, coupled with the increased demand for dried mushrooms to be used in western and Asian cuisines are likely to spur the growth of the Asia-Pacific dried mushroom market during the forecast period.
Leading Market Players: –
- Monterey Mushrooms, LLC
- Banken Champignons Group
- Sun Hing Foods, Inc.
- Fresh Mushroom Europe
- Monaghan Group
- Sabarot Wassner
- Weikfield Foods Pvt. Ltd.
- White Prince Mushrooms
- Sapna Foods, Inc.
- Roland Foods, LLC
- Hughes Mushrooms
- Merchant Gourmet
- Renaud Champignons
- Ann Miller’s Specialty Mushrooms Ltd.
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