Canned Mushroom Market Value Set to total USD 14,442 million by 2034 Amid Growing Demand for Convenience Food Products | Future Market Insights, Inc.
NEWARK, Del, June 25, 2024 (GLOBE NEWSWIRE) -- The global canned mushroom market is estimated to be valued at USD 10,003 million. Global canned mushroom sales will likely surge at a CAGR of around 3.7% during the assessment period, totaling USD 14,442 million by 2034.
Sales are expected to remain high for shiitake mushrooms, accounting for a value share of 32.5% in 2023. Taste, affordability, and health perception of shiitake mushrooms are leading to segment growth.
Multiple factors are anticipated to drive growth of the canned mushroom industry during the forecast period. These include rising demand for convenience food products and expanding usage of canned mushrooms in the HoReCa sector.
Canned mushroom demand is growing steadily throughout the globe. They are a convenient and shelf-stable way to incorporate mushrooms into cooking. Multiple benefits of tinned mushrooms are encouraging their adoption across households and HoReCa industry.
Factors such as busy lifestyles are prompting consumers to seek convenient, ready-to-cook products. This is acting as a catalyst triggering sales of canned mushrooms and the trend will likely continue through 2034.
Canned mushrooms provide a time-saving solution to busy households, cafes, restaurants, and hotels. Increasing consumption of tinned mushrooms across these sectors is expected to boost sales growth during the assessment period.
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What Are The Key Trends For Canned Mushroom Market?
The growing desire to live a healthy lifestyle has resulted in increased consumption of processed foods with health benefits. Consumers have recently become more concerned about their nutrition. Consumers across the globe are more likely to consume healthy foods with no side effects. As canned mushrooms are high in minerals, dietary fibers, vitamins, proteins, and other nutrients that consumers do not get from other food products.
Why is there a Rising Demand for Canned Mushrooms in India?
Expansion of the Food Service Industry to Boost the Demand for Canned Mushrooms in India
India is considered to have the largest food market in South Asia. With the expansion of the food service equipment industry, the demand for canned and processed food is increasing. As the leading organic market in South Asia, India is expected to offer unique opportunities for organically-certified canned mushrooms.
The presence of low-calorie and high-protein content in mushrooms is expected to help the canned mushroom market grow during the forecast period. India is expected to grow significantly during the forecast period, owing to rising awareness about the health benefits of eating mushrooms.
Key Takeaways from Market Report:
- The global market value is projected to total USD 14,442 million in 2034.
- By product type, shiitake mushroom segment is forecast to account for a value share of 32.5% in 2024.
- By nature, organic segment is set to hold a market share of 18.5% in 2024.
- China is poised to record a CAGR of 4.2% through 2034.
- Sales in the United States are expected to soar at a CAGR of 2.3% from 2024 to 2034.
“Growing consumer demand for convenient food products is expected to provide a strong thrust to the canned mushroom industry during the forecast period. Key players will likely focus on introducing novel varieties to capitalize on emerging opportunities.” - Nandini Roy Choudhury, Client Partner at Future Market Insights
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Who is Winning?
Bonduelle Group, Greenyard NV, B&G Foods Inc., The Mushroom Company, Monterey Mushroom Inc., Dhruv Agro, Prochamp B.V., Monaghan Mushroom Ltd., and Shanghai Finc Foods Co. Ltd. are few key canned mushroom manufacturers listed in the report. Developing new varieties with enhanced functionalities is becoming a key strategy for industry players globally.
Several companies are implementing marketing and branding strategies to stay relevant in the market. Similarly, strategies like distribution agreements, partnerships, collaborations, acquisitions, and mergers are becoming popular among players.
Industry Updates:
- In June 2024, Netherland-based Procham showcased latest products at the Gulfood Trade Show in Dubai between 19 to 23 February.
Want More Insights?
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global canned mushroom market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights based on nature (organic and conventional), product type (shiitake mushroom, oyster mushroom, and button mushroom), form (sliced, whole, and pieces and stems), and end-use application (HoReCa and retail/household) across several regions.
Which is the Chief Application in Canned Mushrooms Market?
Demand for Canned Mushrooms to Surge in HoReCa Sector
On the basis of end-use application, the retail/household segment is estimated to account for a prominent share of the global market, but the HoReCa sector is anticipated to witness lucrative growth over the forecast period.
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Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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