Mushroom And Truffle Market

The global mushroom and truffle market is expected to see continued growth in both consumption and value over the next eight years, with forecasts indicating a CAGR of +3.1% for volume and +5.2% for value. China leads in both consumption and production, with steady growth rates. Import and export trends show fluctuating patterns, with notable shifts in volume and value over the years. The article provides detailed data on market performance, trends, and forecasts for the mushroom and truffle industry worldwide.

Market Forecast

Driven by increasing demand for mushrooms and truffles worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market volume to 62M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.2% for the period from 2022 to 2030, which is projected to bring the market value to $200B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Mushrooms And Truffles

Global mushroom and truffle consumption rose rapidly to 48M tons in 2022, growing by 9.8% on 2021. The total consumption volume increased at an average annual rate of +4.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption attained the maximum volume in 2022 and is likely to see steady growth in years to come.

The global mushroom and truffle market size expanded slightly to $133.2B in 2022, picking up by 3.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $164.9B. From 2017 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

China (45M tons) constituted the country with the largest volume of mushroom and truffle consumption, comprising approx. 94% of total volume.

In China, mushroom and truffle consumption increased at an average annual rate of +4.8% over the period from 2012-2022.

In value terms, China ($116.6B) led the market, alone.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +1.9%.

From 2012 to 2022, the average annual growth rate of the mushroom and truffle per capita consumption in China stood at +4.3%.

Production

World Production of Mushrooms And Truffles

In 2022, the amount of mushrooms and truffles produced worldwide rose remarkably to 48M tons, surging by 9.8% compared with the year before. The total output volume increased at an average annual rate of +4.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 11% against the previous year. Over the period under review, global production attained the peak volume in 2022 and is likely to continue growth in the immediate term. The general positive trend in terms output was largely conditioned by a moderate increase of the harvested area and a relatively flat trend pattern in yield figures.

In value terms, mushroom and truffle production declined to $96.3B in 2022 estimated in export price. Overall, production, however, continues to indicate a noticeable slump. The growth pace was the most rapid in 2016 with an increase of 93% against the previous year. As a result, production attained the peak level of $213.6B. From 2017 to 2022, global production growth failed to regain momentum.

Production By Country

The country with the largest volume of mushroom and truffle production was China (45M tons), comprising approx. 94% of total volume.

In China, mushroom and truffle production increased at an average annual rate of +4.9% over the period from 2012-2022.

Imports

World Imports of Mushrooms And Truffles

In 2022, the amount of mushrooms and truffles imported worldwide contracted rapidly to 625K tons, with a decrease of -15.2% compared with the previous year. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 8.3%. Global imports peaked at 737K tons in 2021, and then reduced notably in the following year.

In value terms, mushroom and truffle imports dropped markedly to $1.8B in 2022. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 13% against the previous year. As a result, imports reached the peak of $2.4B, and then contracted dramatically in the following year.

Imports By Country

The UK (97K tons), the United States (88K tons) and Germany (77K tons) represented roughly 42% of total imports in 2022. France (48K tons) held a 7.6% share (based on physical terms) of total imports, which put it in second place, followed by the Netherlands (4.7%). The following importers - Thailand (19K tons), Belgium (17K tons), Malaysia (17K tons), Italy (15K tons), Ireland (15K tons), Greece (14K tons), Sweden (13K tons) and Vietnam (13K tons) - together made up 20% of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +31.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest mushroom and truffle importing markets worldwide were the United States ($435M), the UK ($227M) and Germany ($194M), with a combined 48% share of global imports. France, the Netherlands, Vietnam, Thailand, Belgium, Italy, Ireland, Sweden, Malaysia and Greece lagged somewhat behind, together comprising a further 29%.

Among the main importing countries, Vietnam, with a CAGR of +26.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average mushroom and truffle import price stood at $2,871 per ton in 2022, with a decrease of -11.3% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 9.5% against the previous year. As a result, import price reached the peak level of $3,239 per ton, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($4,956 per ton), while Malaysia ($1,508 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Mushrooms And Truffles

In 2022, after six years of growth, there was significant decline in shipments abroad of mushrooms and truffles, when their volume decreased by -9.2% to 720K tons. The total export volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 11%. Over the period under review, the global exports reached the peak figure at 793K tons in 2021, and then dropped in the following year.

In value terms, mushroom and truffle exports fell sharply to $1.9B in 2022. The total export value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 15%. The global exports peaked at $2.5B in 2021, and then fell dramatically in the following year.

Exports By Country

In 2022, Poland (255K tons) represented the largest exporter of mushrooms and truffles, achieving 35% of total exports. China (138K tons) held a 19% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (11%), Canada (9.2%) and Ireland (6.1%). The following exporters - Belgium (17K tons) and South Korea (13K tons) - each recorded a 4.2% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of +12.8%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest mushroom and truffle supplying countries worldwide were Poland ($525M), Canada ($336M) and China ($253M), together comprising 58% of global exports.

Canada, with a CAGR of +11.3%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average mushroom and truffle export price amounted to $2,649 per ton, falling by -14.7% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 8.7% against the previous year. As a result, the export price reached the peak level of $3,106 per ton, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($5,078 per ton), while China ($1,829 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform