CANNED MUSHROOM MARKET ANALYSIS

Canned Mushroom Market Size and Trends

The canned mushroom market is estimated to be valued at USD 12.83 Bn in 2024 and is expected to reach USD 17.46 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.

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The canned mushroom market is expected to witness positive growth over the forecast period. Increasing consumption of mushroom for its health benefits is expected to drive the demand. Mushrooms are low in calories and rich in nutrients. They contain protein, fiber, vitamins, and minerals which make them beneficial for health-conscious consumers. Mushrooms boost the immune system and reduce the risks of cancer, heart disease, and diabetes. Growing awareness about the health benefits of mushrooms among consumers is encouraging the consumption of canned mushrooms. Moreover, busy lifestyle has been increasing the demand for convenience food products which favors the market growth. Innovations in product offerings by key players to meet changing consumer demands also has a positive impact on market trends. However, the availability of fresh and frozen alternatives may restrict the market growth to some extent over the projection period.

Health benefits of mushrooms

The growing awareness among consumers regarding the various health benefits of mushrooms is a key driver behind the rise of the global canned mushroom market. Mushrooms are low in calories and fat but high in proteins, vitamins, and minerals. They are known to be a great source of selenium, copper, potassium, and vitamin D. The rising health-conscious consumer base is actively seeking out packaged food products that are nutritious yet convenient to consume on the go. Mushrooms have gained significant popularity due to their association with various preventive health properties.

Current scientific research indicates that mushrooms show potential anti-inflammatory, antioxidant, and immune-boosting effects. They are rich in polysaccharides and phenolic compounds known to have antioxidant and anticancer activities. Studies have suggested that mushrooms may aid in reducing the risk of cancers like breast cancer and prostate cancer. Regular consumption of mushrooms is found to support heart health by lowering blood pressure and cholesterol levels. The presence of selenium, riboflavin, niacin, and pantothenic acid in mushrooms provides them with cardioprotective benefits. Mushrooms also contain eritadenine, a compound that inhibits cholesterol synthesis in the body.

Market Concentration and Competitive Landscape

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Increasing demand for canned/processed foods

The demand for convenience and packaged foods has seen a significant rise globally in the recent past. With people's lifestyles becoming increasingly busy and fast-paced, they are relying more on canned, frozen or processed foods that offer ease of cooking and consumption. Mushrooms are a very versatile ingredient that can be used in a variety of cuisines and dishes. With the growth in the popularity of international cuisine, exposure to new flavors, and increasing health consciousness, the consumption of mushrooms has risen steadily worldwide.

This rising demand for mushrooms has driven the canned mushroom market as canned mushrooms allow easy storage and usage. They have a long shelf life and do not require refrigeration, making them extremely convenient to store and consume. Canned mushrooms can simply be added to dishes during cooking or as toppings on pizza, pasta, etc. Their availability in the canned form all year round satisfies the rising demand without being restricted by seasons. Food industry players are expanding their canned mushroom offerings with different varieties like button mushrooms, oyster mushrooms, shiitake mushrooms, etc. to appeal to evolving consumer preferences.

Key Takeaways from Analyst:

As populations shift towards healthier and more convenient food options, canned mushrooms provide a nutrient dense product that requires little to no preparation. Their long shelf life makes them appealing for daily meal additions as well as emergency pantries. Further, canned mushrooms can be used in a variety of dishes from salads to pastas to soups, offering both consumers and food service operators versatility.

Asia Pacific currently dominates canned mushroom sales due to strong cultural affinity. North America and Europe are showing increased demand propelled by health and wellness trends catching hold in the western world. Retailers in these regions have responded by dedicating more shelf space to canned mushroom displays. Younger demographics especially see the appeal of the product's simple and quick ingredients.

Input costs for canned mushroom producers are sensitive to unpredictable fluctuations in commodity prices.

Market Challenges: High dependence on climate conditions

The growth of the canned mushroom market is highly dependent on favorable climate conditions for mushroom cultivation. Mushrooms require specific temperature and humidity levels to grow, which can fluctuate significantly depending on the weather patterns in a particular year. Any abnormal climate changes like unusually high or low temperatures, excess or lack of rainfall, or prolonged drought-like conditions can adversely impact mushroom yields.

Market Opportunities: Growth in online retail sales

The rise of online retail channels presents a promising growth opportunity for the global canned mushroom market. As consumers increasingly turn to e-commerce platforms for purchasing groceries and other household goods, producers of canned mushrooms can leverage this shift to drive greater product discovery and sales. Over the last two years, the COVID-19 pandemic accelerated the adoption of online shopping among consumers who were staying home more.

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Insights by Product Type: The Rising Demand for Convenience Foods Drives the Button Canned Segment

In terms of product type, button canned mushrooms is expected to contribute 37.4% share of the canned mushroom market in 2024, owing to their widespread popularity and ease of use. Button mushrooms have a mild flavor and tender texture that works well in many dishes without overpowering other ingredients. Their petite size also makes them convenient to use in recipes like pastas, casseroles, and fried rice without having to cut larger mushrooms.

Button mushrooms maintain their texture well after canning, holding up better than other mushroom varieties like shiitakes which can become rubbery. The small size of button mushrooms allows them to be packed tightly in cans alongside liquid, ensuring no empty spaces. This packing method helps button mushrooms retain freshness for longer than loose or bagged mushrooms. Their uniform size also provides consistency across cans. Button mushrooms are a staple ingredient in supermarkets and Asian grocery stores year-round. This consistent availability, coupled with their versatility, has made button canned mushrooms a kitchen staple for home cooks. The long shelf life of canned mushrooms appeals to time-pressed consumers looking for prep-free ingredients. They are perfect for last-minute recipes or as a backup ingredient for those unexpected drop-in guests.

Insights by Application: Restaurant Demand Drives Growth in the Restaurant Application Segment

The restaurant segment is expected to contributes 43.4% share of the canned mushroom market in 2024. As the foodservice industry has grown globally in response to demographic shifts and the desire for convenience, restaurants have increased their usage of canned mushrooms. Canned mushrooms offer restaurants multiple advantages over fresh mushrooms. Their long shelf life mitigates the risk of waste and reduces food costs compared to perishable mushrooms. Restaurants need consistency across menu items and canned mushrooms provide that through their uniform size and taste with each can. The portability of cans also makes them easier for restaurants to transport and store compared to lose or bagged mushrooms. Popular cuisines served at restaurants like Italian, Chinese, and pan-Asian foods regularly use mushrooms as a key ingredient. Canned mushrooms are well-suited for the large volumes and batch cooking requirements of restaurant kitchens. They save restaurants labor costs associated with trimming and slicing fresh mushrooms. Many casual dining and fast casual chains have also added canned mushrooms to pasta, pizza and rice dishes on their menus to meet demand for convenience foods.

Regional Insights

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Europe has been the dominant player in the global canned mushroom market for several decades. The region is expected to account for 35.3% of the market share in 2024. The region has ideal weather conditions and soil composition for cultivating different varieties of mushrooms. Countries like France, Italy, Poland, and Germany have perfected the art of mushroom farming and processing over generations. As a result, these countries account for over 60% of the global mushroom production currently. Several European companies have established themselves as global leaders in canned mushroom production and supply due to their long experience, economies of scale, and strong distribution network within Europe and internationally.

The Asia Pacific region has been witnessing tremendous growth in the canned mushroom market over the past few years. Countries like China, Japan, India, and South Korea are increasingly developing a taste for canned mushrooms. Rapid urbanization, rising disposable incomes, and growing health consciousness among consumers have boosted the demand for easy-to-cook and nutritious food products like canned mushrooms. While fresh mushrooms are still popular in many Asian cuisines, changing lifestyles have increased the appetite for convenient canned options. Furthermore, Asian countries are ideal for mushroom farming due to their tropical climate and availability of cheap labor. Many large mushroom producers from Europe are setting up joint ventures and contract farming facilities in Asia Pacific to capitalize on the growth opportunities.

Market Report Scope

Canned Mushroom Industry News

• In 2021, Big Mountain Foods, a Vancouver-based food manufacturer, announced its partnership with Sprouts Farmers Market, a leader in gut-healthy foods, to launch the first Lion’s Mane mushroom product line across North America
• In 2021, Beatnic, North America acclaimed vegan restaurant, announced its partnership with Fable Food Co, an Europe brand, to launch its first meat mushroom product in the U.S. Meat alternative is made from real and natural shiitake variety and will be offered at all Beatnic’s locations.

*Definition: The canned mushroom market refers to canned or jarred mushrooms that have been preprocessed and packaged for long-term storage. Canned mushrooms are very convenient as they do not need to be fresh and can be stored for many months in the pantry until needed. The major types of mushrooms available in cans include button mushrooms, oyster mushrooms, shiitake mushrooms, and portobello mushrooms. They are used as ingredients in recipes like soups, stews, and casseroles due to their long shelf life without refrigeration and versatility in the kitchen. Canned mushrooms offer a healthy and tasty addition to any meal.

Market Segmentation

•  Product Type Insights (Revenue, USD Bn, 2019 - 2031)
  • Shiitake Canned
  • Oyster Canned
  • Button Canned
  • Others
•  Application Insights (Revenue, USD Bn, 2019 - 2031)
  • Household
  • Restaurant
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • Israel
    • Rest of Middle East & Africa
• Key Players Insights
  • Kiril Mischeff Group
  • Costa Group
  • Okechamp SA.
  • Monterey Mushrooms Inc.
  • Greenyard
  • Prochamp
  • The Mushroom Company
  • Monaghan Mushrooms
  • Muniraj Mushroom Farm
  • Dhruv Agro
  • Shanghai Finc Food Co. Ltd.
  • Greenyard NV
  • B&G Foods Inc.
  • The Mushroom Company
  • Prochamp B.V
  • Shanghai Finc Foods Co. Ltd
  • Dev Bhoomi Frozen Food Products
  • Hariom Mushroom Farms
  • Fruitin Agro Pvt Ltd
  • Holyland Group
  • Ganfeng Lithium Co. Ltd
  • Allkem Limited