Market Overview
Shiitake is a type of functional mushroom used in healthcare or pharmaceutical products. Its application as a functional ingredient in the medical sector for producing health supplements drives the Shiitake Mushroom Market.
The sales of this function mushroom in general stores, cafeterias, cafés, and inns are developing the market in the forecast period. The customer's inclination toward processed food and meat substitutes is propelling the growth of the Shiitake Mushroom Market. The button and shiitake mushrooms are rich in protein, which can become a perfect meat substitute. These are key growth factors driving the market in the forecast period. Other factors, such as the change in consumers' tastes, are the major factors supporting the cultivation of the mushroom.
The mushrooms have a short usability period, hampering their market sales. Besides, the cultivation of the mushrooms needs higher functional expenses, limiting its cultivation. But the key player's method of producing the mushroom with effective ideas and achieving a higher sales rate and revenue value is keeping up the market's growth.
The Shiitake Mushroom Market Outlook has witnessed a value of USD 986.8 million in 2020. It will register a CAGR of 6.56 % in the forecast period by 2028.
Market Segments
The Shiitake Mushroom Market Insights is segmented into categories, distribution channels, and product types.
The product type segment is segregated into Button Mushrooms, Shiitake Mushrooms, Oyster Mushrooms, and Others.
The form segment is comprised of Fresh Mushrooms and Processed Mushrooms.
The distribution channel of the market is further categorized into Hypermarkets Supermarkets, Online Sales Channel, Convenience Stores, and Specialty Stores.
The Shiitake Mushroom Market's end-user segment comprises residential, Industrial, and Commercial.
Regional Analysis
The Shiitake Mushroom Market covers the major regions worldwide, such as the Asia Pacific, North America, South America, Europe, and the rest of the world.
The Asia-Pacific is ruling the market in the forecast period due to utilizing shiitake mushroom and cooking it in different styles. The region is highly consuming the product, which drives the regional market. The chief developing countries such as Japan, Australia, China, and New Zealand contribute to the market's growth.
China is the chief producer of mushrooms. China is highly engaged in mushroom cultivation, collection, processing, and marketing. This reason is accelerating the shiitake mushroom market in this region. The increased consumption rate of processed mushroom foods is driving the in the overall Asian region.
North America is considered a rapidly developing market, and the US is the major region showing magnificent growth.
Different types of mushrooms are largely in Singapore. Moreover, consumers across countries, such as Singapore, Korea, and Thailand, are more concerned about the mushrooms' ingredients, quality, and safety due to adopting a healthier lifestyle, and safety concerns are boosting the market.
Industry News
In June 2022, Sempera Organics developed its organic functional mushrooms, which are certified. Sempera Organics has come up with various types of organic functional mushrooms from vertical farming. The company will offer mushroom ingredients through a reduced supply chain with quick delivery to nutraceutical manufacturers. The mushrooms included are shiitake, maitake, almond mushroom, lion's mane, chaga, turkey tail, cordyceps, snow fungus, reishi, king oyster, and agarikon.
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