The shiitake mushroom market industry is projected to grow from USD 0.74 Billion in 2023 to USD 1.2 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.56% during the forecast period (2023 – 2032). Many aesthetic applications, as well as a high nutritional and therapeutic value are the key market drivers enhancing market growth. Mushrooms’ high nutritional value propels market growth. Shiitake mushroom market CAGR is driven by strong nutritional properties of mushrooms. Mushrooms are considered a superfood because they contain a high concentration of beneficial elements. Mushrooms have more vitamin B2, B3, B5, zinc, and antioxidants than potatoes, carrots, onions, and broccoli. They are perfect for people concerned about their health and fitness because they are low in calories and almost fat-free. Rising consumer health consciousness has contributed to a remarkable increase in protein-rich diet consumption in recent years. With increasingly hurried schedules, consumers are unable to consume a nutritionally full diet on a daily basis, forcing them to seek nutrients from packaged food products.
As a result, makers of packaged foods are adding healthy ingredients like mushroom powder or extract to their goods in order to attract customers. Moreover, consumer awareness of the potential negative effects of synthetic cosmetics has contributed greatly to the recent spike in demand for natural and organic skincare products around the world. Customers are paying closer attention to labels and seeking products made with natural ingredients. Cosmetics with transparent ingredient lists that employ only natural plant extracts and no synthetics such as parabens or phthalates are seeing rapid market expansion. Mushrooms include a high concentration of vitamins, antioxidants, essential oils and oils, hydrocolloids, proteins, terpenoids, and other bioactive components. They contain a lot of antioxidants, so cosmetic businesses can use them to manufacture moisturizers. Mushroom supplements are anticipated to grow more popular in skincare products as a result of their many attractive features. If you liked this article and you also would like to acquire more info with regards to Supplier of shiitake mushroom extract powder for drink Ingredients please visit our page. The shiitake mushroom market segmentation, based on type includes button mushrooms, shiitake mushrooms, oyster mushrooms and others.
In 2022, the button mushrooms category dominated the market, accounting for the highest volume share of 61.8%. Over the projection period, the segment is expected to grow at an 8.9% revenue based CAGR. They are commonly cultivated around the world due to their numerous nutritional benefits and shorter incubation period for their spores. Furthermore, their reduced costs in comparison to their competitors is likely to drive the market over the projection period. Shiitake products are popular around the world, owing to their rich savoury flavour and several health advantages. These mushrooms can be consumed fresh or in processed forms such as dried form; however, dried shiitake mushrooms are more popular due to their umami flavour. The shiitake mushroom market segmentation, based on form, includes fresh mushrooms, processed mushrooms. In 2022, fresh mushrooms held an 89.5% revenue share of the mushroom market. Fresh mushrooms have seen a significant growth in demand in recent years, owing to an increased number of consumers focused on organic and unprocessed food intake to maximize the health advantages of the product.
Fresh form distribution is difficult for producers or distributors because of their limited shelf life. However, rising technological improvements, such as the use of modified environment packaging, have mitigated the constraints associated with mushrooms’ low shelf life, hence favouring segment expansion. Based on distribution channel, the shiitake mushroom market is divided into hypermarkets and supermarkets, convenience stores, specialty stores, and online sales. Supermarkets and hypermarkets account for 38.3% of revenue in 2022. Supermarkets and hypermarkets dominated as distribution channels in 2022 due to the availability of a wide variety of this product in a single location and the ease of purchasing. Increased competition from online grocers selling low-cost mushrooms, combined with altering consumer behaviour, has stifled the growth of supermarkets and hypermarkets. The shiitake mushroom market segmentation, based on end-user, includes residential, commercial and industrial. During the projected period, the commercial segment is expected to increase at the fastest rate of 10.4%. Commercial mushroom cultivation begins with the creation of a spawn starting culture in a laboratory.
A tiny portion of a selected mushroom is placed on a sterile agar growing medium, where fine filaments known as mycelia emerge. Mycelia threads are put to sterilized cereal grain jars. They quickly spread their fuzzy white growths across the grain, generating spawn. This is blended into steam-pasteurized compost before being placed on trays or bags. These are placed in temperature and humidity-controlled rooms, and mushrooms appear two to three weeks later. By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. North America dominates the shiitake mushroom cultivation market due to stronger market penetration in the region’s developed economies, such as the United States and Canada. Furthermore, the growing desire for a vegan diet is likely to boost demand for meat substitutes such as mushrooms from the food and dietary supplement industries over the forecast period. Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.