Edible Fungus Market

Edible Fungus Market Outlook from 2024 to 2034

Analyzing different market dynamics produces the knowledge of sluggish to moderately paced market propagation at a CAGR of 4.5% for the edible fungus market. This progression assures market size development from USD 52.24 billion to USD 81.48 billion during the forecasted period. It also promises the market to reach USD 52.24 billion by 2024.

Attributes	Key Insights
Estimated Market Size in 2024	USD 52.24 billion
Projected Market Value in 2034	USD 81.48 billion
Value-based CAGR from 2024 to 2034	4.5%

Key Market Trends and Highlights

Using mushrooms as an alternative to meat is a significant trend in the market. This is because more population is getting driven toward vegan and vegetarian diets. Mushrooms are an excellent replacement for meat and, hence, are preferred more.

Cultivation techniques are evolving, helping the edible fungus market propel. This is another key market trend in the subject market. Due to the growing e-commerce network, distant product and crop sales have become possible. Farmers are registering themselves on the sales channel, another key trend.

Demand Analysis of the Edible Fungus Market from 2019 to 2023 vs. Outlook from 2024 to 2034

The historical period registered the steady acceleration of a USD 41.01 billion edible fungus market in 2019 at a CAGR of 4.3%, helping it to reach USD 48.53 billion in 2023.

The rising acceptance of Western cuisine played a major role in driving the market in the historical period. Mushroom is an integral part of western food, which is now accepted by many developing countries, especially non-industrial countries, surging the market.

Historical CAGR from 2019 to 2023	4.3%
Forecast CAGR from 2024 to 2034	4.5%

The forecasted period drives the subject market from the medicinal values of edible fungi. Growing awareness about the medicinal properties of fungi surges more demand. Besides this, mushrooms, the meat alternative, are demanded more.

Market Drivers

People have become more health conscious. Due to this, they demand healthy and nutrient-rich food intake. Mushrooms fulfil this demand. Hence, this is a crucial market driver.

As mushroom cultivation is propelling, it supports the efficient production of a wide range of edible fungi. Consequently, it fulfils the market demand, driving the edible fungus market.

The growth of the food and beverage industry has driven innovations in many cuisines. This surges demand for mushrooms, driving the market. The medicinal properties of edible fungi surge their demand for various applications in the pharmaceutical industry. Hence, this drives the subject market.

Market Challenges

A well-structured distribution channel for edible fungi is a key market challenge. Due to a lack of proper framework, production goes to waste more often, hampering market advancement.

Appropriate pest management is another key challenge for the edible fungus market. Due to frequent seasonal changes, the harvest quality is dropping, accompanied by increased pests, rodents, and other intruders. Frequent season changes magnify the number of pests, and hence, their management becomes a great challenge.

Country-wise Analysis

Countries	Forecast CAGR
United States	5.2%
Germany	4.2%
China	3.9%
Japan	4.6%
India	7.2%

Growing Health Consciousness Surges American Edible Fungus Market

The United States is anticipated to record a CAGR of 5.2% through the forecast period. This can be attributed to rising health awareness and surging demand for high nutritional products.

Due to increasing awareness regarding an individual’s health, people have started to become aware of the nutritional value of their food items. Mushrooms and other edible fungi, being nutritionally rich, are preferred by the American population.

Also, all types of edible fungi are available due to a vast retail supply chain network. Consequently, this surges the demand for all mushroom types, driving the subject market.

Gourmet and Organic Food Demands Govern Germany

Germany is leading the European edible fungus market and is set to register a CAGR of 4.2% through 2034. The German culture is slowly prioritizing organic food in its regular diet. It fosters organic food production and encourages organic farming.

Consequently, demand for organic edible fungi niched in exotic flavors has surged. Exotic varieties of mushrooms and their gourmet variants are rising in demand, driving the subject market.

Cultural Importance and Medicinal Values of Edible Fungi Drive the Chinese Market

Chinese culture includes mushrooms and other edible fungi in its diet, giving immense importance to culinary dishes. The versatility of edible mushrooms suits Chinese culture, so they are preferred more.

Apart from this, mushrooms have gained importance in Chinese culture due to their immense medicinal value. Hence, the Chinese population seeks for their utilization to develop local remedies. These factors drive the Chinese market at a CAGR of 3.9%.

Japan Favors the Edible Fungus Market for Mushrooms’ Umami Flavor

Similar to the China, the Japanese market is also driven by the influence of its culture and tradition. Shiitake and maitake are the two categories of mushrooms used extensively by the Japanese in their cuisines for their Umami flavor.

These mushrooms induce a natural Umami flavor in the food; hence, they are in demand in the Japanese market. Therefore, these factors drive the subject market, promising to propel at a CAGR of 4.6%.

Indian Population Inclined toward Vegetarianism, Drives the Edible Fungus Market

The Indian population vastly adopts vegetarianism, and it has been a key trend in the Indian market. As a result, mushrooms are considered a perfect alternative to meat products. Therefore, this surges the demand for different categories of mushrooms.

India's agriculture-rich land fosters efficient farming, resulting in better production of edible fungi. Consequently, this drives the Indian edible fungus market, and it is forecast to be the Asia-Pacific market leader in terms of its growth rate. It is estimated to propel at a CAGR of 7.2%.

Category-wise Insights

Button mushrooms have gained popularity and promise to deliver even more in the upcoming decade. This justifies their market share in the subject market.

Category	Product Type (Button Mushroom)
Market Share in 2024	37.8%
Market Segment Drivers	High protein content and nutrient richness make button mushrooms popular among health-conscious people. Therefore, this is a critical market driver surging the demand for the said segment. Better medicinal properties, button mushrooms are often used to treat diseases naturally. For example, remedial therapy to reduce blood-pressure. Hence, its demand is increasing in household use, driving the segment.

Fresh edible fungi deliver better taste and possess excellent medicinal factors. This explains the immense market share held by the segment.

Category	Form (Fresh)
Market Share in 2024	67.3%
Market Segment Drivers	Fresh mushrooms are beneficial in terms of their nutritional value. Due to growing awareness of individual health, fresh mushrooms are preferred by consumers. Therefore, this is a key market driver. The accessibility of fresh mushrooms is wide. The category reaches different industries and verticals easily, enhancing its popularity. Hence, it is another market driver. People have become keen about fresh food served in restaurants and hotels. Therefore, fresh ingredients are demanded to prepare such dishes, driving the subject market segment.

Competitive Landscape

The edible fungus market is clustered with a few key players competing fiercely for better market space. It has been identified that the competitive landscape of the subject market provides lucrative chances for new entrants.

However, product innovation must be fostered to get a competitive edge in the market. Moreover, market diversification can be ensured by entering industries adjacent to the subject market.

Existing organizations actively compete by using various key market expansion modes. Partnerships, acquisitions, product innovation, market diversification, and market penetration are key strategies these marketers use to embark on their positions in the market. Furthermore, the market space of the global edible fungus market is governed largely by retail suppliers.

Key Market Developments

• In January 2023, Smithy Mushrooms opened a new production site due to the surge observed in the business. The Tesco supplier experienced rising demand in the market, which could be met by founding a new venture or an outlet for the industry. Therefore, this signifies the lucrative chances of the company gaining popularity in the market and growing its size.
• In May 2023, Greenyard acquired Gigi Gelato. This strategic move helped the business diversify its product range. The vision of both companies is in unison, helping them penetrate the market deeper. Also, developing the product portfolio induces a differentiator for businesses.
• In March 2024, Monterey Mushrooms, Inc. introduced near-infrared (NIR) sortable material in its rPET tills. This product innovation helped the business gain a competitive edge in meeting sustainability standards. The organization has incorporated technology to enhance the recyclability of the packaging of mushroom products.

Key Coverage of Edible Fungus Market Report

• An in-depth analysis of the competitive positions of different companies and their market shares.
• In-depth analysis of various market drivers, restraints, opportunities, and threats using the DROT framework.
• Key strategic initiatives taken by companies in the competitive landscape.
• Market forecast and dynamics governing the market.
• Key emerging geographical regions creating lucrative growth chances.
• Key market challenges hindering the market growth.

Report Scope

Attributes	Details
Estimated Market Size in 2024	USD 52.24 billion
Projected Market Valuation in 2034	USD 81.48 billion
Value-based CAGR 2024 to 2034	4.5%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value in USD billion
Key Regions Covered	North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa
Key Market Segments Covered	Product Type, Form, Nature, End Use, Region
Key Countries Profile	The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel
Key Companies Profiled	StarwayBio-technology; Greenyard; Green Roots; China Greenfresh Group; Shanghai Bright Esunyes; Xuerong Biotechnology; Monterey Mushrooms Inc.; Northwest Wild Foods; Smithy Mushrooms; Sattvic Goa LLP

Edible Fungus Market - Key Segments

By Product Type:

• Button Mushroom
• Shiitake Mushroom
• Oyster Mushroom
• Others

By Form:

• Fresh
• Processed
• Dried
• Frozen
• Canned

By Nature:

• Organic
• Conventional

By End Use:

• Food Processing Industries
• Food Service Restaurants
• Retail Outlets
• Hypermarket/Supermarket
• Convenience Stores
• Departmental Stores
• Wholesale Stores
• Mass Grocery Retailers
• Independent Retailers
• Specialty Stores
• Online Retailers

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• Middle East and Africa

Frequently Asked Questions

At what rate is the edible fungus market advancing through 2034?

The edible fungus market is estimated to advance at a CAGR of 4.5% through 2034.

What will the market size of the edible fungus market be by 2034?

The edible fungus market is expected to reach USD 81.48 billion by 2034.

What will the market size of the edible fungus market be by 2024?

The edible fungus market is forecast to reach USD 52.24 billion in 2024.

Based on product type, which segment holds the largest market share in the edible fungus market in 2024?

The edible fungus market's button mushroom segment will hold 37.8% of the market space 2024.

Based on the form, which segment holds the largest market share in the edible fungus market in 2024?

The edible fungus market's fresh segment will hold 67.3% of the market space 2024.