The dried mushroom market has experienced substantial growth, increasing from $3.92 billion in 2023 to $4.29 billion in 2024, with a compound annual growth rate (CAGR) of 9.6%. This growth is attributed to rising demand for umami flavor, increased consumer awareness, the popularity of vegan cuisine, high vitamin D content, and the natural composition of dried mushrooms. The market is projected to reach $6.22 billion by 2028 at a CAGR of 9.7%. The expected growth is driven by health and wellness trends, rising interest in vegan food, versatile food applications, e-commerce expansion, and heightened consumer health consciousness. Key trends include the growing demand for plant-based proteins, functional foods, sustainability and organic products, culinary innovations, and mushroom blends.
Major Driver In The Dried Mushroom Market
The dried mushroom market is expected to thrive, fueled by the growing interest in vegan food. As more consumers adopt plant-based diets for health, ethical, and environmental reasons, dried mushrooms are gaining popularity for their rich flavor and meaty texture. Data from Grubhub indicated a 17% increase in vegan food delivery orders in 2021, with plant-based burger orders rising by 28%. This heightened interest in veganism is significantly driving demand for dried mushrooms.
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Dried Mushroom Market Competitive Landscape
Greenyard, Monaghan Mushrooms, Costa Group, Monterey Mushrooms LLC, Nature's Way Brands, Roland Foods LLC, Dalian Gaishi Food Co. Ltd., Weikfield Foods Pvt. Ltd., Sabarot, Banken Champignons B.V., Fungi Perfecti, Hirano Mushroom LLC, Far West Fungi, Hughes Mushrooms, Fresh Mushroom Europe, Ann Miller's Specialty Mushrooms Ltd., Mitoku Company Ltd., Sapna Foods Inc., Asia Pacific Farm Enterprises, Mycoterra Farm
Key Dried Mushroom Market Trend
Companies in the dried mushroom market are focusing on launching organic nutraceutical mushroom extracts as ingredients for food and supplement manufacturers. These extracts, derived from mushrooms, offer dietary support and wellness benefits. In September 2022, Ethical Naturals collaborated with Nammex to introduce Mushroom-Plus, a new range of organic mushroom extracts designed to address specific health conditions. This new product line combines Nammex's certified organic mushroom extracts with additional bioactive compounds, enhancing therapeutic benefits and marketability.
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Dried Mushroom Market Segmentation
The dried mushroom market covered in this report is segmented –
1) By Product Type: Shiitake Mushrooms, Button Mushrooms, Oyster Mushrooms, Reishi Mushrooms, Milky Mushrooms, Winter Mushrooms, Paddy Straw
2) By Packaging: Cartons, Boxes, Polyethylene Bags
3) By Application: Food And Beverages, Food Supplements, Pharmaceuticals, Other Applications
4) By Distribution Channel: Supermarkets, Convenient Stores, E-Commerce, Specialized Stores
By Geography:The regions covered in the dried mushroom market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the dried mushroom market in 2023. Europe is expected to be the fastest-growing region in the forecast period.
The Dried Mushroom Global Market Report 2024 furnishes information about the global dried mushroom market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
