Mushroom market set to flourish

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Carl Collen

BY CARL COLLEN

Mushroom market set to flourish

Report forecasts global demand boom over the next five years

Mushroom market set to flourish

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A new report released by Zion Market Research has predicted that global demand for mushrooms is set to soar over the next five years, driven by a continuing movement towards healthier food choices.

According to the report, the international mushroom market is set to grow in value from US$35.08bn this year to US$59.48bn in 2021.

The group noted that Asia Pacific is expected to show the highest growth rate as demand from the food industry escalates, with the region boasting high consumption rates due to the high nutritional content of mushrooms.

"The rising prevalence of various diseases due to hectic lifestyles has led people to turn towards organic and healthy foods," the report said. "This is likely to foster greater demand for mushrooms in the region. Mushrooms require less space and lower costs for cultivation which led to the majority of producers turning towards mushroom cultivation."

Europe remains the largest market in terms of cultivation and processing, accounting for more than 35 per cent of global market share, while North America continues to grow given the "tremendous growth in demand" for organic food in the area, with mushrooms possessing key nutritional qualities like low cholesterol and no fat.

Latin America, meanwhile, is seeing an "unprecedented boom" in mushroom sales due to their use as ingredients in various dishes, while the Middle East and Africa are set to exhibit "decent growth" in the next few years due to the abundance of raw resources and favourable growing conditions, the report noted.

Several recent developments have helped to emphasise the growing importance of the mushroom category, with Fyffes acquiring its second large Canadian mushroom business of the year in the shape of All Seasons Mushrooms Inc, and Horticulture Innovation Australia announcing a new marketing campaign which aims to get more Australians eating more mushrooms, more often.

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