Oyster Mushroom Market

Global Oyster Mushroom Market Size (2024 to 2029)

Oyster Mushroom Market size was valued at USD 62.91 billion in 2024. The Oyster Mushroom market share value is expected to grow at a CAGR of 7.6% during the forecast period 2024-2029 to reach USD 90.73 billion by 2029. 

Oyster mushrooms, scientifically known as Pleurotus ostreatus, are among the most widely cultivated mushroom varieties globally. These fungi naturally grow on and near trees in temperate and subtropical forests around the world and are commercially cultivated in numerous countries. Oyster mushrooms find their way into various cuisines, with particular popularity in Chinese, Japanese, and Korean culinary traditions. Their economic significance primarily stems from their use as a source of human food. Oyster mushrooms are nutritionally valuable, being rich in Vitamin C and B complex, with protein content ranging from 1.6 to 2.5 percent. They also contain essential mineral salts required by the human body, and their niacin content surpasses that of most other vegetables. Oyster mushrooms rank as the third-largest cultivated mushroom variety globally. China, the world leader in oyster mushroom production, contributes nearly 85% of the total worldwide production, which amounts to approximately one million tonnes. Other countries engaged in oyster mushroom cultivation include Korea, Japan, Italy, Taiwan, Thailand, and the Philippines. In India, oyster mushroom production is currently around 1500 tonnes, primarily due to limited domestic demand. Export orders for oyster mushrooms tend to be substantial, necessitating the development of a connection between producers, cooperatives, and exporters to meet these demands.

The Oyster Mushroom Market offers untapped opportunities driven by increasing demand for sustainable farming practices, ease of cultivation, and rapid growth. Oyster mushrooms can be cultivated using various agricultural waste materials, including straw, sawdust, and coffee grounds. This capacity to utilize waste products aligns with the growing emphasis on sustainable and environmentally friendly practices. As industries and consumers increasingly prioritize sustainability, the oyster mushroom market has gained momentum.

Global Oyster Mushroom Market Drivers:

Key drivers influencing the Oyster Mushroom Market include the growing demand for highly nutritious food. This demand is primarily fueled by the global preference for nutrient-rich, low-fat, and low-cholesterol foods, which is expected to drive market growth. Oyster mushrooms are gaining popularity as they are not only nutritious but also contain fiber and digestive enzymes that support gut and immune health. The rapid expansion of the food service sector, including hotels, restaurants, and cafeterias, is contributing to increased demand. Additionally, rising consumer awareness about the medicinal benefits of edible fungi is expected to drive market growth. Therefore, the consumption of highly nutritious food is expected to play a significant role in expanding the market, ultimately benefiting the food and beverage industry as a whole. Furthermore, increased investments in research and development are poised to foster oyster mushroom market expansion. Governments in various countries are channeling investments into this industry to develop high-quality varieties of edible fungi that are not only safe for human consumption but also suitable for export, thereby generating revenue.

Global Oyster Mushroom Market Restraints:

The Oyster Mushroom Market faces potential growth constraints, primarily due to high operational costs. Cultivating these mushrooms demands extensive management efforts and specialized expertise for consistent, high-quality yields. Factors like temperature, light, and humidity significantly affect production, making precise handling essential. Pest insects and animals, especially in outdoor fields, pose significant challenges for growers. Effective pest control is necessary but can drive up production costs, further complicating matters. Additionally, the short harvest windows due to the rapid production cycles and high yields can limit overall output. These factors are expected to hinder market growth during the forecast period, although ongoing efforts to address these challenges may lead to future growth opportunities.

Furthermore, a notable portion of the population is allergic to mushrooms, which could limit the market's growth potential. Prolonged consumption of mushrooms can also result in side effects such as dry mouth, throat, and nose, as well as itchiness and skin rash, among other reactions.

Impact Of COVID-19 on the Oyster Mushroom Market:

The COVID-19 pandemic posed significant challenges for food companies, resulting in market volatility, decreased consumer confidence, and disruptions in import and export activities. Lockdown measures led to the closure of markets and kept people at home, causing an abrupt surge in demand that strained supply chains due to material shortages. Beyond its immediate effects on markets, supply chains, and supply-demand dynamics, the pandemic also had a financial impact on the food and beverage industry. Manufacturers shifted their focus to safeguarding their employees, business processes, and supply chains in response to this challenging situation. The pandemic forced organizations to restructure their entire operations to maintain stability amidst disruptions, leading to a transformation of industry dynamics. Furthermore, the outbreak's effects on companies' business operations had a broader impact on the overall food and beverage industry, with partial repercussions on the oyster mushroom market.

REPORT COVERAGE: 

This research report on the Global Oyster Mushroom Market has been segmented and sub-segmented based on type, form, application, and region.   

Global Oyster Mushroom Market - By Type:

• Grey oyster
• White oyster
• Pearl Oyster
• Blue Oyster
• Golden Oyster
• Pink Oyster
• Phoenix Oyster

Based on type, in 2022, the Grey Oyster Mushroom segment emerged as the dominant force in the oyster mushroom market and is poised to maintain its leadership throughout the forecast period. Often referred to as the Blusher or Shaggy Mane, Grey oyster mushrooms are highly regarded for their culinary appeal. Their delightful texture and flavor have made them a preferred ingredient in dishes like risotto and pasta sauce. Moreover, these mushrooms find applications in the medical field, being used for treating wounds and infections.

Meanwhile, the White Oyster Mushroom segment is anticipated to experience rapid growth in the forecast period. The white color of these mushrooms is attributed to their thick walls and stems composed of mycelium, a substance with various health benefits. These mushrooms are known for their immune-boosting properties, blood sugar regulation, and potential cancer risk reduction.

Global Oyster Mushroom Market - By Form:

• Fresh
• Processed

Based on the form, in 2022, the Processed Oyster Mushroom segment emerged as the dominant player in the market and is projected to maintain its lead throughout the forecast period. Processed oyster mushrooms encompass various forms of mushrooms that have undergone preservation or transformation from their fresh state. These methods include drying, canning, pickling, and other techniques.

Conversely, the Fresh Oyster Mushroom segment is expected to experience rapid growth in the forecast period. Fresh oyster mushrooms are primarily used in culinary applications due to their appealing texture and delicate flavor. They prove versatile in both vegetarian and non-vegetarian recipes, contributing to their increasing popularity.

Global Oyster Mushroom Market - By Application:

• Food
• Medical
• Others

Based on the application, the medical application is poised to take the lead in the Oyster Mushroom Market throughout the forecast period. Oyster mushrooms are harnessed for addressing a range of medical conditions, including cancer and heart diseases. In China, these mushrooms are employed in treating chronic fatigue syndrome and asthma. They are also recognized for their potential to reduce blood pressure and cholesterol levels in the body.

On the other hand, the food segment has demonstrated substantial demand and holds a significant market share.

Global Oyster Mushroom Market - Region:

Based on region, the Asia-Pacific region has asserted its dominance in the Oyster Mushroom Market, a trend expected to continue throughout the forecast period. This region stands as a pivotal hub for oyster mushroom products, driven by its longstanding popularity and substantial consumption. Notably, China plays a central role as the largest producer and consumer of oyster mushroom products in the Asia-Pacific, if not the world. The region's strong demand for oyster mushrooms across domestic, medical, and commercial sectors has solidified its leadership on the global stage. Within the Asia-Pacific, the demand for white oyster mushrooms, renowned for their immune-boosting properties, blood sugar control, and potential cancer risk reduction, is particularly high. This contributes significantly to the region's dominant position, with expectations of continued growth driven by increased consumption and production.

Furthermore, in North America, the market is poised for rapid expansion, driven by shifting consumer lifestyles that prioritize health-conscious products like functional foods and beverages. The region's burgeoning industrial development and substantial product usage have propelled it to a prominent position in the oyster mushroom industry. The rising adoption of oyster mushrooms in the food and medical sectors is augmenting market share, with urbanization trends further supporting growth. North America's increasing awareness of the health benefits associated with oyster mushrooms, along with a growing preference for organic and vegan food products, is expected to drive sustained growth in the coming years.

KEY MARKET PLAYERS:

Key Market players of Oyster Mushroom Market are Amax NutraSource, Inc. (US), Bristol Botanicals Limited (UK), Bio-Botanica (US), Hokkaido-oyster (Japan), Hunan Huacheng Biotech,Inc.(China), Mushroom Science (US), Nammex (Canada), Qingdao Dacon Trading Co. (China), The Mushroom Company (US), Xi'an Greena Biotech Co., Ltd (China).

RECENT HAPPENINGS IN THE MARKET:

• In June 2023, Bio-Botanica achieved accreditation from the Better Business Bureau (BBB), aligning itself with businesses throughout North America in a shared commitment to promote trust in the marketplace by upholding ethical and integrity standards.
• In Oct 2021, Following an extensive three-year period dedicated to research and development, Nammex, an organic mushroom extract ingredient supplier, achieved a significant milestone. They have successfully cultivated and harvested nearly 80 tons of fresh Trametes versicolor, commonly referred to as turkey tail mushrooms, for commercial purposes this year.

Related:

https://www.marketdataforecast.com/market-reports/mushroom-cultivation-market

https://www.marketdataforecast.com/market-reports/asia-pacific-mushroom-cultivation-market