Edible Fungus Market To Surge At 8.5% CAGR Due To Reluctance To Meat Consumption
Tuesday, May 10th, 2022 | 960 Views
The global edible fungus market size is expected to reach US$ 1356.6 Mn by the end of 2030. The market is forecast to rise at 8.5% CAGR between 2020 and 2030. According to the report, the market would gain from adoption of modern and advanced farming techniques by farmers.
Edible fungi have many of the nutritional characteristics commonly found in meat, beans or grains.
With an increasing number of consumers looking for meat alternatives, the demand for edible fungus is expected to rise. The report offers an exhaustive overview of the factors enabling growth in the market. It also studies in detail restrains to growth.
The report offers in-depth insights into the edible fungus market. Some of the important facts regarding the market are:
- The edible fungus market value stands at US$ 600 Mn in 2020.
- Shiitake mushroom demand is expected to increase in the coming years.
- Results from clinical and preclinical studies on edible fungus consumption indicate that their consumption can promote good immunity, weight control and health enhancement. Positive outcome of these studies will encourage consumption of edible fungus
- Consumption of fungi in Asian countries such as Japan, India and others is rising at a significant rate due to increasing production imports of mushrooms.
“Between 2020 and 2030 the market is likely to witness high demand for Auricularia Auricula-judae . However, the demand for shitake mushroom is likely to increase as well with consumers seeking exotic dishes for pleasure consumption,” said the research analyst.
Change in Eating Pattern Due to COVID-19 Outbreak will Impact Growth
In recent months, exports of goods and items from China have been affected due to the outbreak of coronavirus. The rate at which the virus engulfed the world compelled governments to enforce extended lockdown. The ongoing restrictions have thrown global supply chains into chaos.
Given the labour strength of the production activities, the biggest obstacle in the edible fungus market is decelerated demand. Therefore, the companies are implementing various measures to ensure the safety of employees and to minimize contact between them. Sales to wholesalers operating with HoReCa are adversely affected, which is offset to an extent by increase in retail sales. As a result, demand for packaged mushrooms is rising, which has a positive effect on the edible fungus market.
Who is Winning?
Some of the major edible fungus brands are Agro Dutch Industries Ltd., BioFungi GmbH, California Mushroom Farms Inc., Monaghan Mushrooms, Highline Mushrooms, Scelta Mushrooms BV, Nasza Chata, Banken Champignons B.V. The growing demand for edible fungus led to increased investment by key players and government to step up the cultivation of edible fungus is a significant growth driver of the global market share of edible fungus. Additionally, mergers and acquisitions continue to be a common strategy among market players. Through strategic cooperation companies plan to broaden their regional footprint.
These insights are based on a report on Edible Fungus Market by Future Market Insights
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