Frozen Mushrooms Market - Forecast(2023 - 2028)

Frozen Mushrooms Market Overview

The Frozen Mushrooms Market is estimated to reach $562.5 million by 2028, growing at a CAGR of 5.2% over the forecast period 2023-2028. Mushroom is the reproductive structure that some fungi generate. It resembles a plant's fruit in certain ways, but with no seeds. Mushrooms should always be frozen when they are at their freshest. Mushrooms can be cooked in a variety of ways, including sauteed and steam-blanched. It is recommended to cook with frozen mushrooms because they have a high-water content and may become soggy if defrosted. Mushrooms are full of 4 key nutrients including selenium, vitamin D, glutathione and ergothioneine. These nutrients help in relieving oxidative stress and prevent or decrease the risk of chronic conditions including cancer, heart disease and dementia. Moreover, Mushrooms offer a strong natural umami flavor, that allows consumers to reduce the use of salt in mushroom meals by 30-40%, thus benefitting health, in turn fueling the market growth.

Frozen Mushrooms Market Report Coverage

The report: “Frozen Mushrooms Market – Forecast (2023-2028)” by IndustryARC, covers an in-depth analysis of the following segments in the Frozen Mushrooms Market.

Key Takeaways

• North America dominates the Frozen Mushrooms Market in 2022, owing to the rising interest in vegan diets and the resulting increase in demand for meat substitutes like mushrooms in the food and dietary supplement industries. Asia-Pacific is anticipated to grow fastest during the forecast period 2023-2028, as the high therapeutic value of mushrooms and rising consumer awareness are anticipated to support market expansion.

• The use of frozen mushrooms as a topping for pizza or in addition to cooked meals like soups, casseroles and stews is expected to spur market expansion. It can also be included in dishes like pasta, rice or quinoa that must be cooked but not baked by adding them to the grain as it boils and cooks, which further expands the market.

• Since mushrooms have anti-inflammatory and antioxidant properties and prevent both intestinal and cardiovascular diseases, the frozen mushroom market is booming.
• A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Frozen Mushrooms Market Report.

Frozen Mushrooms Market Segment Analysis – by Type:

Based on type, the Frozen Mushrooms Market is further segmented into oyster mushrooms, button mushrooms and shiitake mushrooms. The button mushroom segment held the largest revenue market share in 2022, owing to its multiple nutritional advantages and shorter spore incubation times. The market is anticipated to be driven by their reduced cost. According to an article on nutrition, the Recommended Dietary Intakes (RDIs) for copper, selenium and riboflavin are all contained in button mushrooms, which have a copper RDI of 37%, a selenium RDI of 17% and a riboflavin (vitamin B-2) RDI of 37% per 100g. However, the Shiitake Mushrooms segment is estimated to grow with the fastest CAGR of 6.8% over the forecast period of 2023–2028 since they come in both fresh and high-quality forms. They have a savory flavor and a number of health benefits. It has long been a component of traditional remedies in countries like Japan, China and South Korea, as its consumption increases longevity and health while also boosting blood circulation.

Frozen Mushrooms Market Segment Analysis – by Distribution Channel:

Based on the distribution channel, the Frozen Mushrooms Market is further segmented into hypermarkets/supermarkets, retail stores, specialty stores, online stores and others. The hypermarket/supermarket segment held the largest revenue market share in 2022, owing to the availability of a wide selection and variety of mushroom products and the convenience of buying. According to the U.S. Bureau of Labor Statistics, the cost of groceries and food increased by 6.8% in 2021 compared to the previous year, owing to the rising demand for goods in hypermarket\supermarket. However, the online stores' segment is anticipated to grow at the fastest CAGR of 7.5% over the forecast period of 2023–2028 owing to the convenience and cost advantages, as consumers all over the world are choosing to buy their fresh food online more frequently.

Frozen Mushrooms Market Segment Analysis – by Geography:

Based on geography, the North American Frozen Mushrooms Market accounted for the largest revenue share of 32% in 2022, owing to a larger market presence in the region's developed economies, like the United States and Canada. Customers are ready to spend more on high-end goods that are specially made using natural and organic materials. According to National Agricultural Statistics Service Information (NASS), sales of mushroom production in the United States for 2021–2022 were 702 million pounds. However, the Asia-Pacific region is estimated to grow at the fastest CAGR during the forecast period of 2023–2028, as the usage of different mushrooms for the treatment of various diseases like cardiovascular diseases, is common in traditional medical systems like Ayurveda and Traditional Chinese Medicine. The demand for mushrooms in the region is anticipated to increase owing to their low calories and high nutritional benefits, as well as their capacity to boost immunity.

Frozen Mushrooms Market – Drivers

Increasing R&D Investments to Boost Industrial Production to Create Potential for Market Expansion.

The production of high-quality and various forms of mushrooms that are not only healthy for human food but can also be exported to other regions to increase economic output is being funded by governments in a number of different countries. The Strategic Investment Plan (SIP) for Mushrooms, for instance, was designed to serve as a roadmap for Hort Innovation's investment in the mushroom sector through levies and Australian Government contributions, ensuring investment decisions are in line with industry priorities. The marketing levy is set at $2.92 per kilogram of spawn and the R&D levy rate for mushrooms is set at $1.08 per kilogram of spawn. Additionally, adopting an improved pest management strategy to prevent damage can also guarantee larger yields, which promotes market expansion. The common or button mushroom is a variety that is widely cultivated and consumed across the world.

Increasing Demand for Shiitake Mushrooms, Owing to their Healthy and Medicinal Properties, is Driving the Market.

The deep, delicious flavor and numerous health advantages of shiitake mushrooms are the main reasons to consume them worldwide. According to National Agricultural Statistics Service Information (NASS), the total production rate of shiitake mushrooms in 2021 was 80.73 million pounds, with a sales value of $271.62 million. The dried shiitake mushrooms are well owing to their umami flavor, these mushrooms can be consumed in fresh or processed forms such as dried form. In nations like Japan, China and South Korea, shiitake mushrooms have long been used as traditional medicines as they enhance overall health and prevent cardiovascular diseases. Shiitake mushrooms include substances that could improve heart health, increase immunity and fight cancer. There are relatively few calories in shiitake. They also include significant amounts of fiber, Vitamin B and a few minerals as well as antioxidants. Shiitake mushrooms also contain a lot of the same amino acids as beef. They also include lipids, terpenoids, polysaccharides and sterols, some of which have antioxidant, anti-inflammatory, anti-cholesterol and anticancer properties and also prevent cardiovascular diseases. Depending on how, where and how long the mushrooms are produced, stored and prepared, shiitake might contain a variety of bioactive substances, owing to which the demand for shiitake mushrooms are rising.

Frozen Mushrooms Market – Challenges

High Production and Equipment Costs would Impede Market Expansion.

An extremely high level of management participation and proficiency is required for mushroom production. According to Agriculture Farming, the price to start mushroom farming might vary greatly depending on how big the business is at first. It can cost from USD 3,000 to USD 100,000. The specific treatment is necessary to obtain reliable, high-quality yields. Light, temperature and humidity all have a big effect on them. Pest animals and insects can pose serious problems for farmers, especially in open fields. The need for pest control arises from the fact that some insects, like fungus gnats, thrive in similar conditions, which raises production costs.

Frozen Mushrooms Industry Outlook:

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Frozen Mushrooms Market. The top 10 companies in the Frozen Mushrooms Market are:

1. Bonduelle Fresh
2. McCain Foods
3. SCELTA
4. Beatnic
5. Lutece Holdings
6. Monaghan Mushrooms
7. Costa Group
8. Denis Vidmar
9. Monterey Mushrooms
10. Big Mountain Foods

Recent Developments:

• In September 2022, McCain Foods has acquired Scelta Products, bringing a growing line of delectable, prepared vegetable appetizer products from the Netherlands to its portfolio. The agreement is a sizable investment that will support McCain's development and growth in the frozen vegetable appetizer market.

• In October 2021, the well-known vegan eatery Beatnic in New York City has announced a partnership with the Australian company Fable Food Co to introduce its first meaty mushroom product. The meat substitute will be available at all Beatnic outlets in US and is produced from actual, natural shiitake mushrooms.

• In May 2021, Denis Vidmar debuted the Porcini variety at Magical Mushroom Hub. With its qualities, this cultivar is widely sought after and costs roughly USD 50 per pound.

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