Oyster Mushroom Market Size, Share, Growth, and Industry Analysis by Type (Grey Oyster Mushroom & White Oyster Mushroom), By Application (Food, Medical & Others) Regional Forecast To 2031

Updated On: 08 April 2024

Oyster Mushroom Market REPORT OVERVIEW

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The global oyster mushroom market size was USD 47.1427 billion in 2021 and the market is expected to reach USD 56.9934 billion in 2028, exhibiting a Compound annual growth rate (CAGR) of 3.21% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A type of mushroom that can be found on the ground or on trees is the oyster mushroom. It is a source of food and has a variety of therapeutic benefits. They are the fruit bodies, which are fleshy and nourishing, of specific macrofungi groups, which can grow above or below ground. They contain a lot of healthy nutrients like riboflavin, potassium, vitamin D, selenium, and others that are good for human health. Clinical and preclinical research has demonstrated its benefits for maintaining a healthy immune system, controlling weight, and maintaining overall health performance.

Its suitability for human consumption is determined by its edibility as well as by the desired flavor and aroma. It also goes by the name Pleuritic ostreatus. This is a well-liked edible mushroom. The agaricaceous family and the basidiomycete class include this mushroom. It is best when picked when it is young because as it ages, the flesh becomes harder and has an unpleasant, acrid flavor. It is regarded as one of the most significant edible mushrooms in terms of commerce.

COVID-19 Impact: Industry Shutdown Causes Market Distortion

The COVID-19 epidemic caused problems for food companies like volatile markets, a drop in customer confidence, and difficulties with import and export transactions. Markets were shut down and people stayed at home due to the lockdown. However, this sudden demand disrupted the entire market because the necessary materials were not readily available. In addition to having an immediate influence on markets, supply chains, supply and demand, and all of these other things, it also had a financial impact on the markets for food and beverages.  The manufacturers are concentrating on safeguarding their personnel, business processes, and supply chains to deal with this severe scenario. The pandemic impacted the industry dynamics, forcing organizations to revamp their entire operation structures to maintain stability amid the disruptions. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall food & beverages industry. This has partially impacted the oyster mushroom industry.

LATEST TRENDS

"Use of White Oyster Mushroom to Boost the Market Growth"

Use of White oyster mushroom is the main trend elevating the brand name, increasing its sales, and boosting product demand. Shiitake or enoki are other names for it. It is a species of fungus that is a member of the bracket fungi family. This mushroom's thick walls and stem, which are composed of a unique material known as mycelium, are what give it its white color. The product's numerous advantages are fostering the market's expansion. This mycelium has a number of advantageous traits, including those that boost the immune system, regulate blood sugar levels, and lower the risk of cancer, among others. They are frequently used as food, and because of their flavor and texture, they are preferred for dishes like risotto or pasta sauce. It has a wide range of applications, which helps the market expand. Additionally, white mushrooms have medical uses, including the treatment of infections and wounds. The industry is anticipated to grow during the forecast period thanks to this trend. Thus, it is anticipated that the usage of White mushroom in various sector will increase overall market sales. These new developments and varieties in product are mostly to blame for the market's overall growth.

Oyster Mushroom Market SEGMENTATION

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• By Types 

Based on type, the market is classified into Grey Oyster Mushroom & White Oyster Mushroom.

• By Application

Based on the market is categorized into Food, Medical & Others.

DRIVING FACTORS

"Consumption of High Nutritional Food that Gives the Market Extra Boost"

The primary factor boosting the market is the rising demand for foods that are nutrient-dense, low in fat and cholesterol, and expected to accelerate market growth globally. Its increasing inclusion in different dietary supplements is due to the fact that it also has fiber and digestive enzymes that support gut and immune health. The demand in hotels, restaurants, and cafeterias is increasing as a result of the food service sector's rapid expansion. Edible fungus powders can be added to sauces, smoothies, and soups to obtain the fungi's nutritional and health benefits. In the upcoming years, it is anticipated that rising vegan populations and increasing adoption of it as a meat substitute will further fuel market expansion. Furthermore, it is anticipated that the market will grow over the coming years due to rising consumer awareness and the high medicinal value of edible fungus. As a result, the growth, and the increasing consumption of high nutritional food will boost the market. It will contribute to the expansion of the food and beverages industry and it will improve the overall oyster mushroom market growth.

"Increasing Investments in R&D to Encourage Market Expansion"

In order to produce high-quality varieties of these edible fungi that are both safe for human consumption and can be exported to other nations in order to make money, governments from a number of different countries are investing in this industry. Adopting an advanced pest management strategy to prevent damage can also guarantee higher yields, which promotes market expansion. Common or edible button fungus, also known as Agaricus bisporus, is a type that is widely cultivated and consumed throughout the world. Its market performance has improved due to its rising popularity and diet inclusion. The improvement in commercial production and distribution brought about by the growth of global industry is expected to drive market expansion in the years to come. Over the course of the forecast period, the aforementioned elements are anticipated to affect sales of the industry. This will increase demand for the product and help the industry as a whole to expand. The increase in R&D is helping the market to grow.

RESTRAINING FACTORS

"High Operational Costs to Impede Market Expansion"

Production of this mushrooms requires a lot of management effort and expertise. To get consistent, high-quality yields, it needs special handling. Temperature, light, and humidity have a big impact on them. Pest insects and animals, particularly in the fields, can be a major problem for growers. Because some insects, like fungus gnats, breed in the same environments, pest control is essential because it drives up production costs. Additionally, the quantity of its output is hampered by the short harvest windows caused by its high yields and quick production cycles. Therefore, during the forecast period, these factors are anticipated to restrain market growth. But as time goes on, this issue will be resolved in some way. If this problem is fixed, the market will start to grow right away.

Oyster Mushroom Market REGIONAL INSIGHTS

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"North America Dominating the Market Across the Globe"

The market for oyster mushroom industry in North America has benefited from the region's expanding industrial development and a number of driving factors that have boosted the potential sectors because this region is the product's primary user. The rising product use in food and medical sector is boosting the oyster mushroom market share. Trends toward rapid urbanization will support the market as a whole even more.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

•     Whole Earth Harvest (U.S.)
•     Traveler Produce (U.S.)
•     Country Fresh (U.S.)
•     Sylvan (U.S.)
•     Mycoterra Farm (U.S.)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including current and potential market leaders. A sizable market expansion is anticipated as a result of a number of important factors. The research also examines factors that may increase the oyster mushroom share in order to provide market insights. The report makes forecasts for market expansion over the anticipated time period. The objective of the regional research is to explain why one region dominates the global market. A number of properly taken into account factors prevent the industry from growing. The research also includes a strategic analysis of the market. It includes thorough market information.