MUSHROOM MARKET ANALYSIS

Mushroom Market Size and Trends

The mushroom market is estimated to be valued at USD 66.58 Bn in 2024 and is expected to reach USD 128.11 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.

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The mushroom market is expected to witness positive growth over the next decade. Factors, such as increasing health consciousness among consumers and rising awareness about the nutritional benefits of mushrooms, are expected to boost the demand. Moreover, mushroom is gaining popularity as a meat substitutes due to its rich protein content. The growing vegan and vegetarian population worldwide is also contributing to the increased demand for mushrooms. In addition, mushroom produces high yields using minimal resources, which makes it an attractive option for commercial farming. With innovations surrounding mushroom farming and cultivation, the market is expected to grow steadily in the coming years.

Drivers of the Market:

Growing health benefits of mushrooms

Mushrooms are highly nutritious and provide several health benefits that are driving more consumers to incorporate them into their diets. Mushrooms are low in calories and fat but high in protein, fiber, vitamins, and minerals. They contain antioxidants and compounds that may help fight cancer, boost immunity and heart health. The antioxidant properties of mushrooms may help reduce inflammation throughout the body as well.

Recent clinical studies have shown that mushrooms may help lower the risk of various cancers. Shiitake and maitake mushrooms contain a compound called beta-glucans that support immune function and potentially fight cancer growth and spread. White button mushrooms are also rich in selenium, a powerful antioxidant that acts as a cancer protective agent. Culinary mushrooms have also shown promise in managing heart disease risks factors like high cholesterol and blood pressure. Their meaty texture and savory flavor profile makes them a tasty addition to any diet.

More consumers are becoming health conscious and looking to make smart diet choices. As awareness spreads about mushrooms' diverse nutritional profile and disease fighting abilities, their popularity and demand is sure to increase. People are seeking convenient and tasty ways to increase their veggie intake for optimal wellness. Mushrooms offer an easy and delicious way for health-focused consumers to do just that. Their versatility allows for integration into a wide variety of dishes from salads to pastas to meat substitutes. As prevention and treatment using natural, whole foods gains more traction, mushrooms' medicinal properties will continue to drive greater market growth.

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The rise of plant-based and vegan diets

Increasing consideration for personal health, animal welfare, and environmental sustainability is fueling strong consumer demand for plant-based foods. More shoppers are adopting vegan or flexitarian diets and looking to substitute animal proteins with nutritious plant alternatives. Mushrooms are uniquely positioned as a "meaty" veggie option beloved by vegans, vegetarians as well as meat-eaters seeking to incorporate more plant proteins.

Their substantial texture and savory flavor profile allows mushrooms to seamlessly stand in for meats in recipes from burgers to sausages to stir fries. Food companies are responding with a growing selection of meatless products featuring mushrooms as a key ingredient. General Mills recently released its branded fungi pizzas and pastas under the Epic Provisions brand. Startups like Applewood, Omami and Monty's Mushrooms offer real mushroom burgers and grounds that perfectly mimic meat without the environmental footprint.

As awareness about factory farming's effect on climate change increases, more consumers will opt for flexitarian or fully plant-based diets. Mushrooms satisfy cravings while supporting individual values and commitments to the planet. Their storied history in vegetarian cuisine and unparalleled versatility as a meat alternative ensures ongoing demand growth within this vital market segment. Food companies will continue innovating exciting new mushroom-based options to meet the needs of diverse, value-driven buyers.