Shiitake Mushroom Market Size, Share, Growth, and Industry Analysis, By Type (Fresh and Dried), By Application (Food, Pharmaceuticals, Cosmetics, and Others), and Regional Forecast To 2031

Shiitake Mushroom Market Report Overview

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The global shiitake mushroom market size was 362.7 million in 2022 & the market is expected to reach USD 497 million by 2031, exhibiting a CAGR of 3.6% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with shiitake mushroom experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Shiitake mushrooms are popular edible fungi originating from East Asia. With their tan to dark brown umbrella-shaped caps and rich, savory flavor, they are a versatile ingredient used in various dishes worldwide. These mushrooms are not only delicious but also nutritious, providing essential vitamins, minerals, and fiber. In traditional medicine, they have been valued for their potential immune-boosting properties and cholesterol-lowering effects.

Shiitake mushrooms are environmentally friendly to cultivate, often grown on agricultural by-products. However, caution should be exercised as some individuals may have allergies to certain mushrooms. Overall, shiitake mushrooms are a delightful addition to culinary creations and offer potential health benefits.

COVID-19 IMPACT : Increased Demand for Healthy Foods to Boost Demand Significantly

COVID-19 had a life changing impact globally. The shiitake mushroom market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for shiitake mushroom experienced an increased demand.

Shiitake mushrooms are commonly used in restaurants and other food service establishments. With the decline in the restaurant and hospitality industry during the pandemic, there was a reduced demand for mushrooms from this sector. The mushroom cultivation process often requires manual labor for tasks such as harvesting and packaging. Labor shortages, either due to illness or restrictions on workforce movement, impacted the production and availability of shiitake mushrooms.

During the pandemic, there was a growing awareness of the importance of maintaining a healthy diet to support the immune system. Shiitake mushrooms, known for their nutritional value and potential health benefits, experienced increased demand as people sought out nutritious food options. With restaurants closed or operating at limited capacity, more people turned to home cooking and experimenting with recipes. Shiitake mushrooms, being versatile and easy to incorporate into various dishes, became a popular choice for home-cooked meals. The market is anticipated to boost the shiitake mushroom market share following the pandemic.

LATEST TRENDS

"Functional Food Research to Broaden Market Growth"

There has been ongoing research into the potential health benefits of shiitake mushrooms as functional foods. Scientists have been investigating their immune-boosting properties, antioxidant content, and possible role in reducing cholesterol levels. Many mushroom growers have been adopting sustainable farming practices, such as utilizing agricultural by-products for cultivation and reducing waste. This focus on eco-friendly methods has been well-received by environmentally conscious consumers.

Besides fresh and dried shiitake mushrooms, the industry has seen an increase in value-added products such as shiitake mushroom powders, extracts, and supplements. Shiitake mushrooms have long been used in traditional medicine for various health conditions. Research has been conducted to explore their potential as a source of bioactive compounds for pharmaceutical purposes. These latest developments are anticipated to boost the shiitake mushroom market share.

Shiitake Mushroom Market Segmentation

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• By Type

Based on type, the market is divided into Fresh and  Dried.

Fresh holds a major share of the global market.

• By Application

Based on application, the market is bifurcated into Food, Pharmaceuticals, Cosmetics,  and Others.

Food as application holds a major share of the global market.

DRIVING FACTORS

"Nutritional Benefits to Boost Market Share"

Shiitake mushrooms are not only delicious but also nutritious. They are a good source of vitamins (such as B vitamins, vitamin D, and folate), minerals (such as selenium, copper, and zinc), and dietary fiber. The growing focus on healthy eating and the increasing popularity of functional foods have contributed to the demand for shiitake mushrooms. Research suggests that shiitake mushrooms contain bioactive compounds, including polysaccharides like lentinan, which have potential health benefits. These compounds are believed to have immune-boosting properties, antioxidant effects, and possible cholesterol-lowering capabilities, making shiitake mushrooms appealing to health-conscious consumers.

"Sustainable Cultivation to Boost Market Size"

Shiitake mushrooms can be cultivated using agricultural by-products like wood waste, making them an environmentally friendly option. With increased awareness of sustainable practices and a focus on reducing food waste, the demand for eco-friendly food options like shiitake mushrooms has risen. Advancements in transportation and distribution networks have made shiitake mushrooms more accessible in various parts of the world. Their availability in fresh and dried forms, as well as processed products, has contributed to their widespread consumption. These factors are anticipated to drive the shiitake mushroom market share.

RESTRAINING FACTORS

"Labor-Intensive Cultivation to Hamper Market Share"

Shiitake mushroom cultivation often requires manual labor for tasks like inoculation, harvesting, and packaging. Labor costs can impact the overall production expenses and may present challenges, especially in regions with high labor costs or labor shortages. Fresh shiitake mushrooms have a limited shelf life, and if not properly stored or transported, they can spoil quickly. This restricts their distribution and can lead to food waste if not consumed promptly. The factors are anticipated to hinder the growth of the shiitake mushroom market share.

Shiitake Mushroom Market Regional Insights

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"Asia-Pacific Dominates the Shiitake Mushroom Market "

APAC is the major shareholder for the shiitake mushroom market share. The region has a long history of cultivating shiitake mushrooms, and it benefits from favorable natural conditions, such as suitable climates and abundant forested areas with hardwood trees that are used as substrate for cultivation. Additionally, APAC has a well-established infrastructure for mushroom cultivation and a vast labor force, which contributes to its dominant position in the global market. North America is the second major shareholder for the shiitake mushroom market share.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

LIST OF TOP SHIITAKE MUSHROOM COMPANIES

• Bonduelle SA [France]
• Mitoku Company [Japan]
• The Mushroom Company [U.S.]
• Modern Mushroom Farms [U.S.]
• Hirano Mushroom LLC [Czech Republic]
• Banken Champignons [Netherlands]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.