Shiitake Mushroom Market To Reach USD 1,562.48 Million By 2033; Increased Demand For Healthy Foods To Boost Demand

Newark, Sept. 11, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 840.23 million in 2023 global shiitake mushroom market will reach USD 1562.48 million in 2033. Shiitake mushrooms, native to Japan and China, are renowned for their medicinal properties and high nutritional value. They contain lentinan, a compound believed to enhance the immune system, and are the second-most consumed mushrooms globally. Shiitake mushrooms are used in traditional treatments for conditions such as the common cold, flu, HIV/AIDS, and more.

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However, scientific evidence supporting their efficacy in treating these diseases is limited. In addition to their immune-boosting properties, shiitake mushrooms are valued for their potential benefits in weight management, energy enhancement, mental well-being, cardiovascular health, and overall wellness. They are also incorporated into pharmaceuticals and health supplements due to their medicinal attributes. Shiitake mushrooms are known to help lower blood cholesterol levels, manage diabetes, treat colds and flu, prevent arteriosclerosis, and potentially assist in the treatment of prostate and breast cancer. Additionally, they may help with eczema and act as anti-aging agents.

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Key Insight of the Global Shiitake mushroom Market

Asia Pacific will dominate the market during the forecast period.

Asia Pacific dominates the shiitake mushroom market due to high consumer awareness of its health benefits and the presence of major producers in China and Japan. The region's familiarity with shiitake mushrooms and increasing consumer demand for nutritious, low-calorie foods contribute to its market leadership.

In 2023, the fresh segment dominated the market with the largest market share of 44% and revenue of 369.70 million.

The product type segment is divided into fresh, frozen, and dried. In 2023, the fresh segment dominated the market with the largest market share of 44% and revenue of 369.70 million.
Over the forecast period, the conventional segment is expected to grow at the fastest CAGR of 7.2%. The category segment is divided into organic and conventional. Over the forecast period, the conventional segment is expected to grow at the fastest CAGR of 7.2%.

In 2023, the hypermarket and supermarkets segment dominated the market with the largest market share of 34% and revenue of 285.67 million.

The distribution channel segment is divided into convenience stores, hypermarkets & supermarkets, specialty stores, and online sales channels. In 2023, the hypermarket and supermarkets segment dominated the market with the largest market share of 34% and revenue of 285.67 million.

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Advancement in market

In Upper Shillong, Meghalaya, Chief Minister Conrad K Sangma opened the state-of-the-art Shiitake Mushroom and Training Centre. The Ministry of Tribal Affairs, the Ministry of DoNER, and the Meghalayan government are funding this project, which intends to strengthen the agricultural economy of the state and empower indigenous farmers. Exemplary illustration Encouraging Ecological Agriculture and Revenue Creation Chief Minister Sangma emphasised the potential of Shiitake mushroom gardening as a profitable and sustainable source of income for farmers during his speech at the inaugural ceremony.

Market Dynamics

Driver: Rise in Vegetarian Diets.

Growing awareness about the health implications of consuming animal products and concerns for animal welfare are driving people towards vegetarian diets. Shiitake mushrooms, with their rich nutritional profile and medicinal benefits, are increasingly in demand. Their ability to help reduce cancer and heart disease risks further boosts their popularity.

Restraints: Side Effects of Shiitake Mushrooms.

Some individuals are allergic to mushroom spores, which can hinder market growth. These allergies can lead to respiratory issues and affect both consumers and farm workers, posing a challenge to market expansion.

Opportunities: Expansion of the Food Processing Industry.

Advances in the food processing sector present a significant opportunity for shiitake mushrooms. Consumers are increasingly seeking foods with low calories and high nutritional value. Shiitake mushrooms fit this demand perfectly, offering rich nutrition and immune-boosting benefits. The growing focus on healthier food options among younger and working-age populations is expected to drive the market for shiitake mushrooms.

Challenges: High Cultivation Costs.

Cultivating shiitake mushrooms is labor-intensive and expensive. Rising demand increases production costs and often leads to the use of excessive chemicals and fertilizers, which can pose health risks. These high cultivation costs and potential health issues from cultivation methods present challenges to market growth.

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Some of the major players operating in the global shiitake mushroom market are:

● Bonduelle SA
● Modern Mushroom Farms INC.
● Banken Champignons
● Oyster Island Mushrooms LLC
● Brewer's Mushrooms
● White Mountain Mushrooms, LLC.
● Monterey Mushrooms, Inc.
● Hirano Mushroom LLC
● Rain Forest Mushrooms
● Rocky Bottom Mushrooms LLC

Key Segments covered in the market:

By Product Type

● Fresh
● Frozen
● Dried

By Category

● Organic
● Conventional

By Distribution Channel

● Hypermarkets & Supermarkets
● Convenience Stores
● Specialty Stores
● Online Sales Channel

By Region

. North America (U.S., Canada, Mexico)
. Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
. Asia-Pacific (China, Japan, India, Rest of APAC)
. South America (Brazil and the Rest of South America)
. The Middle East and Africa (UAE, South Africa, Rest of MEA)

About the report:

The market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.

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