The oyster mushroom market has demonstrated strong growth, with its size rising from $49.10 billion in 2023 to $52.39 billion in 2024, at a CAGR of 6.7%. This growth is driven by longer mushroom shelf life, hectic lifestyles, demand for high-nutrition organic products, and urbanization. The market is expected to reach $69.01 billion by 2028, growing at a CAGR of 7.1%. Key drivers include mushroom market attractiveness, vegetarian diet popularity, functional food demand, and plant-based protein interest. Trends include packaging and processing innovations, cultivation technology advancements, biotechnology for disease resistance, sustainable substrates, and automated cultivation systems.
Major Driver In The Oyster Mushroom Market
The oyster mushroom market is projected to grow due to the increasing popularity of veganism. Veganism, driven by health benefits and ethical concerns, is fueling demand for plant-based foods. Oyster mushrooms, being a nutritious and sustainable food source, are aligned with vegan principles. The Plant Based Foods Association reported a 6.2% increase in plant-based food sales in 2021. This rising interest in veganism is expected to drive the growth of the oyster mushroom market.
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Oyster Mushroom Market Competitive Landscape
Monterey Mushrooms LLC, Nammex, South Mill Mushroom Sales Inc., Amax NutraSource Inc., Ceres Solutions Ltd., Country Fresh LLC, Bio-Botanica Inc., Fungaia Farm, Mushroom Company, Hunan Huacheng Biotech Inc., Hoopers Island Oyster Co., Phillips Mushroom Farms L.P., Bristol Botanicals Ltd,, Xi'an Greena Biotech Co. Ltd., Qingdao Dacon Trading Co., Optimi Health Corp., Highline Produce Limited, Gourmet Mushrooms Company, Mushroom Science, Traveler Produce LLC, Urban Farm Co., Enviro Mushroom Farm Inc., Maritime Gourmet Mushrooms Inc., Valley Mushrooms, Champag Inc.
Key Oyster Mushroom Market Trend
The oyster mushroom market is expanding with innovative products like plant-based burgers and sausages made from Hooba, a protein derived from oyster mushrooms rich in antioxidants, vitamins, and minerals. In May 2024, Myco Foods launched its first line of Hooba-based burgers and sausages in the UK. These products, virtually indistinguishable from real meat in taste tests, cater to consumers seeking sustainable, plant-based alternatives, combining the health benefits of oyster mushrooms with the sensory experience of traditional meat.
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Oyster Mushroom Market Segmentation
The oyster mushroom market covered in this report is segmented –
1) By Type: Pearl Oyster, Blue Oyster, Golden Oyster, Pink Oyster, Phoenix Oyster, King Oyster
2) By Form: Fresh, Processed
3) By Distribution Channel: Hypermarkets And Supermarkets, Convenience Stores, Specialty Stores, Online Sales Channel, Medical, Other Distribution Channels
By Geography:The regions covered in the oyster mushroom market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia Pacific was the largest region in the oyster mushroom market in 2023.
The Oyster Mushroom Global Market Report 2024 furnishes information about the global oyster 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.
