India Mushroom Market Size, Share & Trends Analysis growth rate (CAGR) of 12.7% from 2024 to 2030
The India mushroom market size was estimated at USD 1.18 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 12.7% from 2024 to 2030. The growing vegan population’s demand for a diet high in protein is anticipated to be a major driving force in the market over the course of the forecast period. Because of their high nutritional value, mushrooms are regarded as a superfood. Four essential nutrients, selenium, vitamin D, glutathione, and ergothioneine-are abundant in mushrooms. These nutrients aid in the reduction of oxidative stress and the prevention or mitigation of chronic illnesses such as dementia, cancer, and heart disease.
The India market accounted for a share of around 2% of the global mushroom market in 2023. India’s mushroom industry is mainly driven by rising consumer health consciousness and the increased demand for nutrient-rich, cholesterol-free food products. In addition, the growing popularity of veganism and the extensive use of mushrooms as a meat alternative due to their strong umami flavor are driving the country’s market expansion. In addition, the growing use of mushrooms in dietary supplements is driving up demand for the product since they are high in fiber and digestive enzymes, which support immune system and gut health. Additionally, the growing demand for processed mushroom varieties, particularly in western nations, is giving India a lot of export prospects and improving the outlook for the regional industry.
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In addition, the market is expanding due to ongoing developments in mushroom packaging technologies, such as the creation of materials that control humidity and keep water from condensing on mushrooms to increase their shelf life. An additional reason driving expansion is the growing use of mushrooms by the pharmaceutical sector to treat a variety of ailments, including hypertension and hypercholesterolemia. Moreover, throughout the course of the forecast period, the India mushroom market is anticipated to be driven by large investments in intelligent automation technologies for mushroom production in an effort to increase output and lower costs.
As of 2020, India ranked among the world’s top producers of mushrooms, with an annual yield of 487 thousand tons, or 2% of the world total. The Indian mushroom industry is anticipated to be driven by farmers’ growing preference for mushroom farming due to its higher profitability and greater export potential.
Since mushrooms are not classified as either plants or animals and are instead grown from spawns or spores, it is difficult to bring them under the regulatory framework. This is likely to present difficulties for the nation’s mushroom farmers. Over the projection period, a rising consumer base and rising income levels in the nation are anticipated to fuel demand for unusual foods, including mushrooms.
Indian cuisine uses mushrooms in a variety of dishes as well as in pickles, vegetables, and medications. The Directorate of Mushroom Research projects that products including bread, cakes, drinks, papadum, and cookies enhanced with mushrooms will soon be available in India. This is because the organization has inked several agreements involving the transfer of technologies to four businesses, which will likely accelerate market expansion during the course of the forecast period.
