Mushroom Cultivation Market to Record Steady Growth by 2025

The mushroom cultivation market is estimated at USD 16.7 billion in 2020 and is projected to reach USD 20.4 billion by 2025, at a CAGR of 4.0% during the forecast period. Multiple health benefits associated with mushroom is one of the key factors expected to boost demand for mushroom cultivation in the years to come. The rise in the number of consumers adopting flexitarian and vegetarian diets both in developed and developing countries has further increased the demand for mushroom as a meat alternative.In developing countries, mushroom cultivation is gaining widespread interest among growers since it requires less labor, is low-cost, and provide income throughout the year. The availability of abundant agricultural waste in developing countries such as India and Brazil is expected to create a lucrative opportunity for mushroom cultivation in these countries since agricultural wastes act as a substrate for mushroom cultivation.

Based on the type, button mushroom accounts for the largest share in the mushroom cultivation market. Button mushroom is the most popularly grown and consumed mushroom type at a global level. Button mushroom is widely preferred among consumers in the US. In 2016, the country produced 943 million pounds of mushroom, most popular being button mushrooms. Growing health concerns have urged consumers to opt for nutrition-rich food products. Multiple health benefits associated with mushrooms coupled with increased demand for meat alternatives is expected to boost demand for mushrooms and thus increase the demand for mushroom cultivation in the coming years.

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Asia Pacific was the largest market for mushroom cultivation in 2019, followed by Europe. The region is backed by  China, which is among the largest producer and consumer of mushroom at a global level, making it a key destination for mushroom cultivation companies in the region.  Apart from this, countries such as India, Japan, and Iran are expected to be key revenue generators. Iran ranks 6^th at a global level interns of mushroom cultivation at a global level with a production volume of 150,000 tons in 2018-2019. Lucrative opportunity lie ahead in India owing to wide availability of agriculture waste in the country. This agriculture waste serves as a substrate for mushroom cultivation. Thus, Asia Pacific is expected to create a lucrative opportunity for mushroom cultivators in the years to come.

Mushroom cultivators are focusing on expanding their consumer base in the market. Leading players operating in the mushroom cultivation market include Monaghan Mushrooms (Ireland), Walsh Mushrooms Group (Ireland), Mycelia (Belgium), South Mill Mushrooms Sales (US), Smithy Mushrooms Ltd. (UK), Rheinische Pilz Zentrale GmbH (Germany), Italspwan (Italy), Mushroom SAS (Italy) Hirano Mushroom LLC (Kosovo), Fujishukin Co. Ltd. (Japan), Societa Agricola Porretta (Italy), Gourmet Mushrooms, Inc. (US), Fresh Mushroom Europe (Belgium), Commercial Mushroom Producers (Ireland), Lambert Spawn (US), F.H.U Julita Kucewicz (Poland), Polar Shiitake Oy (Finland), Heereco BV (Netherlands), Bluff City Fungi (US), and Mycoterra Farm (US).

Monaghan Mushrooms (Ireland) operates through two major business segments—mushrooms and compost. The company has a vertically integrated business, which means that it has control over the whole production process. It produces compost for growing mushrooms. It also grows, harvests, and packages the final products and delivers it to both retail and foodservice customers. The company sells and markets different types of mushrooms, such as white mushrooms, chestnut mushrooms, portabello mushrooms, and forestiere mushrooms and vitamin D mushrooms under two brands across Ireland, the UK, and Canada—Belle Grove and Forestiere mushrooms. The company has two types of mushroom substrate production methods or systems—concrete bunker system and the conventional open-air windrow system. It also makes substrates for its farms as well as for other mushroom growers.

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Walsh Mushrooms Group (Ireland) is one of the suppliers of fresh mushrooms and substrates in Ireland and the UK. It is a vertically integrated food business, supplying over 500 tonnes of fresh mushrooms to the UK market every week, and growing over 150 tonnes of fresh mushrooms in Ireland and the UK. The company also produces about 2,000 tonnes of substrates for Ireland and the UK markets. It also has growing and packing operation center’s in England and Ireland, i.e., Golden County Tipperary, in Bury St Edmunds, Suffolk, and in Evesham, Worcestershire. The company has four operational sites. The company expanded to supply its mushrooms to ALDI, which is a supermarket company. A new five-year deal began in 2019 to supply mushrooms for ALDI by the growers of Evesham (England-based center). They also launched a vitamin D enriched mushroom following a USD 279,492 investment in a two-year project, which was granted Novel Food Status.