The mushroom market is highly fragmented with key market players driving the growth with agreements, expansions, acquisitions, and new product launches to develop their position. The market is competitive with leading players being involved in research & development for maintaining the quality of mushrooms. The market caters to applications such as fresh and processed mushrooms. Processed mushrooms are further sub-divided into dried, frozen, canned, and others (pickled mushrooms, mushroom powder, and mushroom sauces).
Europe is the largest and is projected to be the fastest-growing market for mushrooms in the next five years. Increased consumption of processed food and rise in awareness regarding about health and wellness among consumers are the major driving factors of the market. Increasing urbanization and increasing per capita income are driving the market for processed food around the globe. Mushrooms are low in calories and are fat-free, yet are a rich source of nutrients such as potassium, riboflavin, niacin, and vitamin D; hence they are increasingly adopted by people round the globe. On the other hand, Asia-Pacific is projected to be the second largest mushroom market in the world. Being a promising and profitable business, mushroom cultivation is significantly adopted by growers in most regions of the world. Also, factors such as R&D and innovations to enhance acceptability and continuously improving technologies to increase mushroom shelf-life are driving their market.
The mushroom industry has many players, (small, medium, and large); however, it is dominated by a few. Costa Pty Ltd. (Australia), Shanghai FINC Bio-tech Inc. (China), Phillips Mushroom Farms Inc. (U.S.), and Bonduelle Fresh Europe (France) collectively account for around 78% of the total mushroom market. Other players such as Okechamp S.A. (Poland) and Monterey Mushrooms Inc. (U.S.) also have a strong presence in the market.
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