Global Oyster Mushroom Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Oyster mushrooms, scientifically known as Pleurotus ostreatus, are a type of edible fungi that are commonly found in temperate and subtropical forests around the world. They are named for their oyster-shaped cap and are prevalent in culinary dishes due to their mild, anise-like flavor and tender texture. Oyster mushrooms grow in clusters on dead or dying hardwood trees in nature, though they are also widely cultivated for culinary use.

Sizing and Forecast
The oyster mushroom market size has grown strongly in recent years. It will grow from $49.10 billion in 2023 to $52.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%.  The  growth in the historic period can be attributed to increase their shelf life, increase the shelf life of mushrooms, increase in the hectic lifestyles of people worldwide, raises demand for organically grown products with high nutritional value, and increasing urbanization.

The  oyster mushroom market size is expected to see strong growth in the next few years. It will grow to $69.01 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.  The growth in the forecast period can be attributed to increasing attractiveness of mushroom market, rising popularity of vegetarian, increasing demand for oyster mushroom, growing demand for functional food as well as health benefits associated with consuming oyster mushrooms, and rising demand for plant-based proteins. Major trends in the forecast period include innovation in packaging and processing, technological advancements in cultivation, biotechnology for disease resistance, sustainable substrates, and advancements in automated cultivation systems.

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Segmentation & Regional Insights
The oyster mushroom market covered in this report is segmented –
1) By Type: Pearl Oyster, Blue Oyster, Golden Oyster, Pink Oyster, Phoenix Oyster, King Oyster
2) By Form: Fresh, Processed
3) By Distribution Channel: Hypermarkets And Supermarkets, Convenience Stores, Specialty Stores, Online Sales Channel, Medical, Other Distribution Channels

Asia Pacific was the largest region in the oyster mushroom market in 2023. The regions covered in the oyster mushroom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing popularity of veganism is expected to propel the growth of the oyster mushroom market going forward. Veganism is a lifestyle that avoids all animal products and cruelty, including in food, clothing, and other uses, supporting only cruelty-free and sustainable practices. The growing popularity of veganism is due to the health benefits, animal welfare, environmental concerns, culinary innovation, celebrity and influencer endorsements, cultural shifts, economic factors, and improved availability of vegan products. Oyster mushrooms provide a nutritious, versatile, and sustainable food option supporting veganism, making them a healthy choice for those following a vegan diet. For instance, in December 2021, according to the Plant Based Foods Association, a US-based food association, plant-based food sales are rising, expanding 6.2% in 2021 over a record-breaking year of growth in 2020. Therefore, the growing popularity of veganism is driving the growth of the oyster mushroom market.

Key Industry Players
Major companies operating in the oyster mushroom market are  Monterey Mushrooms LLC, Nammex, South Mill Mushroom Sales Inc., Amax NutraSource Inc., Ceres Solutions Ltd., Country Fresh LLC, Bio-Botanica Inc., Fungaia Farm , Mushroom Company, Hunan Huacheng Biotech Inc., Hoopers Island Oyster Co., Phillips Mushroom Farms L.P., Bristol Botanicals Ltd,, Xi'an Greena Biotech Co. Ltd., Qingdao Dacon Trading Co., Optimi Health Corp., Highline Produce Limited, Gourmet Mushrooms Company, Mushroom Science, Traveler Produce LLC, Urban Farm Co., Enviro Mushroom Farm Inc., Maritime Gourmet Mushrooms Inc., Valley Mushrooms, Champag Inc.

The oyster mushroom market report table of contents includes:
1. Executive Summary

2. Oyster Mushroom Market Characteristics

3. Oyster Mushroom Market Trends And Strategies

4. Oyster Mushroom Market - Macro Economic Scenario

5. Global Oyster Mushroom Market Size and Growth

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32. Global Oyster Mushroom Market Competitive Benchmarking

33. Global Oyster Mushroom Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Oyster Mushroom Market

35. Oyster Mushroom Market Future Outlook and Potential Analysis

36. Appendix

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