Shiitake Mushroom Market Outlook 2019- 2023 | Phenomenal Growth Strategy, Industry Demand, Size, Value Share, Business Opportunity, and Key Players Strategy
Jul 15, 2019
"global shiitake mushroom market is expected to grow at a highly optimistic CAGR of 15.31% during the forecast period from 2019 to 2023"
Pune, India - July 15, 2019 /MarketersMedia/ —
Market Insights
Generally, shiitake mushroom is considered as an especially edible mushroom which originated in the regions of East Asia and is used to prepare several East Asians cuisines. Even, shiitake mushrooms are much considered a medicinal mushroom and these kinds of mushrooms are extensively used in personal care as well as in the pharmaceutical industries. A shift towards healthy food habits has been witnessed, which eventually has encouraged the global shiitake mushroom market to expand considerably during the forecast period.
The Market Research Future Reports provided an in-depth analysis of the global shiitake mushroom market, which portrays that the market has witnessed a constant growth graph that records at a CAGR of 15.31% from 2019 to 2023. The prediction also depicts that the global shiitake mushroom market will also achieve USD 35.4 billion by the year 2023. The progress of this market is attributed to the keen medicinal value that is associated with shiitake mushroom, which is encouraging across the world.
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Key Players
MRFR has listed up some of the leading players in the global shiitake mushroom market which are:
• The Mushroom Company (U.S.)
• Modern Mushroom Farms (U.S.)
• Hirano Mushroom LLC (Kosovo)
• Banken Champignons (the Netherlands)
• Bonduelle SA (France)
• Mitoku Company, Ltd. (Japan)
• Agro Dutch Industries Ltd. (India)
Regional Analysis
By Region, the Global Shiitake Mushroom Market has covered main regions such as North America, Europe, Asia Pacific, and the Rest of the World.
Among these, the Asia Pacific region is estimated to lead the global shiitake mushroom market, having a share of over 82.54% of the market. The increasing consumption of shiitake mushroom in the region is attributable to the large-scale as a critical ingredient for cuisines. The market in the region is, therefore, projected to get valued around USD 1.7 Bn in 2017. Whereas, China is one of the vital revenue country contributors, as it is likely to gain traction across the review period.
Whereas, North America is projected to remain as a highly lucrative market and thriving at 14.36% CAGR. Therefore, the increase in consumption of shiitake mushrooms in the region is attributed to its nutritional value and medicinal properties, which has driven the market to reach a high valuation in the present time and that could increase in the years to come.
Market Segmentation
According to the reports published by MFRF, the global shiitake mushroom market as category, application, and sales channels.
By Category, the market has been segmented into fresh, dried, and processed. Wherein, the fresh segment is projected to have a relatively higher share of the market, which is attributed to its use in preparing authentic cookeries.
By Application, the shiitake mushroom market is segmented with food, pharmaceuticals, cosmetics, and others. Among these, the food segment presently occupies the 54.4% share of the market and is probable to retain its eminence over the forecast period. Thus, the growth can be ascribed to the nutritional value of the product, which has eventually fueled demand in the segment.
By the Sales Channel, the global shiitake mushroom market has been segmented into store-based and non-store based. The store-based segment is additionally sub-segmented into wholesaler or distributor, retail stores, specialty stores, and others. Whereas, the store-based segment is poised to exhibit a sharp rise in the growth of the revenue accumulated by market players.
Global Shiitake Mushroom Market: Drivers & Trends
The fueling factor the global Shiitake Mushroom Market accounts to be high demands of it processed foods owing to its rich flavoring aspect. Also, the increasing population of shiitake mushroom in cosmetics is also adding up as a contribution to the global shiitake mushroom market in the years to come.
Likewise, recognition of its medicinal characteristics has further resulted in the increased demand of shiitake mushrooms to produce cosmetic & personal care products as well as dietary supplements inefficient ways. Also, the other key factors that are expected for the Shiitake Mushroom Market to overgrow are swelling consumption of processed foods, rise in consumer awareness regarding health benefits with mainly vegetable products, and investments being made by food industry players to cater to large audiences with innovative packaging.
Additionally, extensive research and development factors are also playing a vital road and are currently proceeding to harness the applications of mushrooms, which will further fuel up the market. On the other hand, outstandingly low shelf-life of mushrooms, lack of proper process management, and lack of consumer awareness are barricading the market from booming. However, the growing cases of obesity are also expected to introduce new consumers who want to reduce with consumption of shiitake mushrooms and open new opportunities for the Global Shiitake Mushrooms Market.
On the other hand, shiitake mushrooms also offer several health benefits such as improved digestion, better cardiovascular health, bone building, and more, which have paved the ways for its application in the pharmaceuticals industry. Then, the booming pharmaceuticals industry, coupled with swelling healthcare expenditure, is projected to fuel demand in the global shiitake mushroom market.
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Contact Info:
Name: Abhishek
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Organization: Market Research Future
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Website: https://www.marketresearchfuture.com/reports/shiitake-mushroom-market-4731
Source: MarketersMedia
Release ID: 88896248
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