Global Canned Mushroom Market - 2022-2029

Market Overview

The global canned mushroom market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Canned mushroom is made from fresh mushrooms by trimming, washing, sorting and storing in a sealed container. To ensure the preservation of the mushrooms, a specific temperature or heat is applied to them. Canned mushrooms are abundant in protein and critical elements, making them an important part of a balanced diet. Canned mushrooms have various advantages, including low calories, low salt, fat-free, and cholesterol-free, which are important for maintaining a good cognitive function and immune system. Aside from vitamins and minerals, the product is high in antioxidants, which may aid in cancer prevention. Demand is likely to increase over the projection period because of the numerous health benefits connected with canned mushrooms.

Market Dynamics:

Increasing awareness of health benefits of canned mushrooms due to its anti-cancer properties

Increasing consumer preference towards canned mushrooms, owing to their health benefits such as their help to reduce the risk of cancer, is a key factor expected to drive the growth of the global market. Mushrooms are high in vitamin C, vitamin B, fiber, calcium, and minerals, among other nutrients and proteins. Furthermore, 70 kilograms of raw mushrooms have only 2.3 grams of carbs and 15 calories, making them a low-calorie food. Furthermore, the mushroom is high in soluble fiber and beta-glucan fibers. Aside from vitamins and minerals, the product is high in antioxidants, which may aid in cancer prevention. Mushrooms are known to help patients cope with the negative effects of chemotherapy and radiation therapy, such as nausea, bone marrow suppression, anemia, and decreased resistance. Various mushrooms have recently yielded several medicinal compounds, including anti-tumor medicines.

Furthermore, the canned mushroom market is expected to develop due to the high nutritional content and health benefits connected with its consumption and a longer shelf life due to the addition of ascorbic acid and monosodium glutamate in the product. The presence of low sodium and fat content in canned mushrooms may help the body's immune system and cognitive functioning, which is expected to increase demand for canned mushrooms and improve their market. However, the increasing availability of substitutes such as frozen and dried mushrooms will likely restrain global market growth throughout the projection period.

Market Segmentation:

Button canned mushroom accounted for the highest share in global canned mushroom market

In 2021, the button mushroom led the market, accounting for XX% of global revenue. This is one of the most widely grown and consumed mushroom kinds globally. Previously, production of this kind was limited to the winter season, but because of technological developments, it is now grown all year virtually on small, medium, and big farms.

In 2021, the household segment dominated the market, accounting for XX percent of global sales. The increased demand for ready-to-cook food is driving the market for canned mushrooms due to the demanding work schedule. Furthermore, a hectic work schedule has spurred demand for convenient, protein-rich, and healthful foods, one of which is canned mushrooms. Furthermore, demand is likely to be fueled by increased usage of mushrooms in various local meals and soups over the projection period. In Germany and other European nations, the mushroom is typically used to add nutritional value to soups and food products. Furthermore, demand for canned mushrooms is expected to rise due to rising consumption due to various health benefits and protein-rich composition over the forecast period.

Geographical Penetration:

Asia-Pacific is the dominating region during the forecast period

The Asia Pacific region dominated the global canned mushroom market in 2021, accounting for XX% of global sales. The key driver of the regional market in the coming years will be rising mushroom consumption. In addition, the existence of a significant number of producers in countries such as China, India, and Japan is expected to boost canned mushroom demand over the projection period. The Asia-Pacific is projected to exhibit significant growth during the forecast period, owing to increasing awareness about the health benefits of eating a mushroom, coupled with the increasing per capita income of the Asian population.

In 2021, North America had a sizable market share. Over the projected period, rising awareness of the health advantages of mushrooms is expected to drive demand for canned products. The increase can be ascribed to rising demand for convenient food products and increased intake of functional ingredients.

Competitive Landscape:

The global market is extremely competitive. Top players operating in the market include Bonduelle Group; Giorgio Fresh Co.; and B&G Foods, Inc. Some of the other players operating in the market are Costa Group.; Monterey Mushrooms, Inc.; OKECHAMP S.A.; Prochamp; The Mushroom Company; Shanghai Finc Food Co., Ltd.; and Dhruv Agro. Market players are using mergers and acquisitions to expand their product offers. To meet consumer demand for simple packaging, corporations are also working on growing their production capacity and introducing innovative technologies. In February 2018, D'Amico, an Italian Company that offers canned vegetables, introduced a line of canned Portobello mushrooms.

COVID-19 Impact: Negative impact on the global canned mushroom market

The COVID-19 outbreak has had an impact on a variety of manufacturing and farming industries around the world. To slow the pandemic's spread, governments around the world enacted harsh lockdown measures and social distance standards. During the early stages of the pandemic, the majority of production plants around the world were shut down. As a result, market participants faced several issues as a result of supply chain interruptions. However, as more supplies come online in the first half of 2022, things will improve.