The Shiitake Mushroom Market is expected to experience a growth rate of 6.56%, resulting in an estimated market size of USD 986.8 million, During the forecast period of 2021 to 2028.

Shiitake, a mushroom species is the third-largest consumed mushroom across the globe after button and oyster mushroom. Shiitake mushrooms are indigenous to Japan, and they are rich in nutrients. They also reportedly have immunity enhancing properties and anti-viral properties. Shiitake mushrooms could be explored to extract proteins and vitamins, which could be marketed in condensed form. 

The market is getting enriched with new vegan products. This, as a result, is driving the growth of the shiitake mushroom market. According to an eminent research firm - Market Research Future (MRFR), the global Shiitake Mushroom Market Outlook is expected to garner significant accruals by 2024. MRFR also claims that it could register a substantial CAGR throughout the forecast period (2021 – 2028).

Shiitake has been a popular ingredient in various Asian cuisines for ages. It also has several applications in cosmetic products ranging from exfoliant to anti-inflammatory. It helps in faster skin healing renewal and also lightens the skin increases its elasticity. Shiitake mushrooms are also used to make hair cosmetics as it helps to maintain the hygiene of the scalp and manipulate the structural properties of hair. 

The other applications of shiitake include the production of organic fertilizer and water soil purifier, in which shiitake is used to remove and degrade pentachlorophenol (PCP). There is a huge trend, in millennials other demographics, towards plant-based products and shiitake mushroom is just one of those and is actually plugging into that trend. Consumers are reportedly increasing their consumption of plant-based foods substituting meat-based products. 

In addition to its food application, shiitake mushrooms are also majorly consumed by the skincare products industry, as it contains polysaccharides, triterpenes, proteins, lipids, phenols, and cerebrosides. These help as anti-irritants and antioxidants and stimulate the skin's natural renewal process. The escalating demand for shiitake mushroom is backed by the diverse application of these mushrooms in pharmaceutical and cosmetics products. 

On the other hand, the low shelf life of these mushrooms and related products are impeding the growth of the market.  Also, the volatility in prices and demand-supply gap of shiitake mushrooms is challenging the market players while meeting the growing market demand. Nevertheless, the rising popularity of organic of the mushrooms and the emergence of various functional foods based on shiitake mushrooms would support market growth over the forecast period.

Global Shiitake Mushroom Market - Regional Analysis

The Asia Pacific region dominates the global Shiitake Mushroom Market Insights , accounting for the largest production as well as consumption of these mushrooms. The APAC has been witnessing a remarkable growth over the past few years, heading with the changing food consumption pattern in the region.

China holds the major share in the APAC shiitake mushroom market owing to the rising applications of shiitake in the pharmaceutical and cosmetics industry. In terms of volume, the country holds a significant share in the global market as well. Besides, increasing consumption of these types of mushrooms in the preparation of various local cuisines is creating huge market demand. China, Japan, Australia New Zealand are key contributing markets in the region.

The shiitake mushroom market in the European region holds a substantial market share, globally. Europe accounts for the second-largest producer of shiitake mushroom due to the rising cultivation of fiber-rich food commodities in the countries across the region. Italy, Spain, and the Netherlands are top shiitake producing countries and major importers of edible mushrooms.

Also, rising support from the governments for the production of organic mushrooms influences the regional market growth, increasing the production volumes. Furthermore, the improving commercial value of shiitake mushrooms, in fresh or processed form would increase the demand and encourage market orientation in Europe and Asia Pacific region.

Global Shiitake Mushroom Market – Segmentation

The report is segmented into four dynamics to widen the scope of understanding,

By Type                                   : Fresh, Frozen, and Dried.

By Category                            : Organic and Conventional.

By Distribution Channel        : Store-based (Hypermarkets Supermarkets and Convenience Stores, others) and Non-Store-Based.   

By Regions                              : Europe, North America, APAC, and the Rest-of-the-World (RoW).

Global Shiitake Mushroom Market – Competitive Analysis

Highly competitive, the shiitake mushroom market appears to be fragmented with low entry barriers and rising competition. Several large and small-scale players, alongside, the new entrants, form a competitive landscape. New players and online players are challenging well-established retailers and manufacturers. Also, the proliferation of a wide range of products, primarily via online platforms, is challenging these leading players further. Many producers and retailers continue to expand through mergers acquisitions and collaborations strategies to gain a substantially larger share in the marketplace. 

Major Players:

Players leading the shiitake mushroom market include Banken Champignons (Netherlands), Bonduelle SA (France), Oyster Island Mushrooms LLC (US), Modern Mushroom Farms INC. (US), Monterey Mushrooms, Inc. (US), Brewer's Mushrooms (US), Rocky Bottom Mushrooms LLC (US), White Mountain Mushrooms, LLC. (US), Hirano Mushroom LLC (Republic of Kosovo), Highveld Mushrooms (South Africa), Rain Forest Mushrooms (US), Agro Dutch Industries Ltd. (India), Mitoku Company, Ltd. (Japan), Mycopolitan Mushroom Company (US), and Meadow Mushrooms Ltd (New Zealand), among others.

Industry Advancements/Related News 

August 08, 2019 ---- Gaia Herbs (North America), a leading herbal brand, introduced three new mushrooms herbs powder blends to provide a convenient and delicious way for people to nourish their bodies. The new mushrooms herbs powder blends are developed utilizing the symbiotic relationship between plants mushrooms and the wisdom of nature to create synergistic blends that support cognitive, energy, and immune health. 

Among the three new functional powder blends include, Energy Thrive are made with cordyceps and shiitake mushrooms, and various other ayurvedic powders. It is a perfect blend for those trying to live a more active lifestyle. Energy Thrive supports physical performance and recovery.

January 31, 2019 ---- The Tamil Nadu Agricultural University (TNAU – India), announced its partnership with Yats Corporation (Japan), a leading global mushroom grower to cultivate Shiitake mushrooms on an industrial scale. With the memorandum of understanding (MoU), TNAU and Yats would jointly set up a mechanized Shiitake mushroom plant in Ooty on a pilot basis. The project worth Rs 3.5 crore (Approx. USD 4,93,955.00) would be funded by the Japan International Cooperation Agency (JICA).

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