The Asia Pacific mushroom cultivation market was valued at USD 3.87 billion in 2023 and is anticipated to reach USD 4.19 billion in 2024 from USD 7.87 billion by 2032, estimated to account for the prominent growth rate among the other regions, projecting a compound annual growth rate of 8.2% during the forecast period of 2024 to 2032. The market value is expected to increase more during the outlook period due to the high production, consumption and exports, increasing of vegan population in this area.
Higher per capita mushroom consumption and adoption of modern mushroom cultivation techniques in Asia Pacific region is one of the major factors driving the growth of the market of Mushroom Cultivation in this locale. Increasing investments by companies for research and development to implement new technologies in the field also propels the expansion of the Asia Pacific mushroom cultivation market.
Increasing consumption of mushrooms in some countries such as India and Japan, augmenting production, and a surge in the vegan population are some of the factors that help the growth of the market for Mushroom Cultivation in the Asia Pacific region. One of the major driving factors of the Asia Pacific Mushroom Cultivation market is the rising consumption of processed food items and the increasing consumer awareness regarding the health benefits of mushrooms in the APAC market.
High prices and low public awareness about functional mushrooms are some of the restraints that affect the growth of the mushroom cultivation market in the Asia Pacific region.
Among these, the button mushroom segment holds the major share of the market as it is a widely consumed mushroom type across the world and also potentially offers many health benefits.
Asia Pacific Mushroom Cultivation market is expanding due to the increasing consumption of mushrooms in some countries such as India and Japan, as well as rising production and an increasing vegan population. Also, higher per capita mushroom consumption and the adoption of modern farming techniques propel the growth of the revenue in the Asia Pacific region. This area is also expected to hold the dominance of the market over the conjecture period.
Monaghan Mushrooms (Ireland), Walsh Mushrooms Group (Ireland), Italspwan (Italy), Mushroom SAS (Italy), Mycelia (Belgium), South Mill Mushrooms Sales (US), Smithy Mushrooms Ltd. (UK), Hirano Mushroom LLC (Kosovo), Rheinische Pilz Zentrale GmbH (Germany), Fujishukin Co. Ltd. (Japan). These are the market players that dominate the Asia Pacific mushroom cultivation market.
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