Dried Mushroom Market

The global market for dried mushrooms and truffles is expected to continue growing steadily, with China leading in both consumption and production. Despite fluctuations in consumption and production, the overall trend is positive. Imports and exports have also seen fluctuations, with China dominating as the largest exporter. Prices have seen moderate growth over the years, with different products showing varying trends. Overall, the market is forecasted to expand in both volume and value over the next eight years.

Market Forecast

Driven by increasing demand for dried mushrooms and truffles worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.5% for the period from 2022 to 2030, which is projected to bring the market volume to 1.2M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.5% for the period from 2022 to 2030, which is projected to bring the market value to $21.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Dried Mushrooms And Truffles

In 2022, consumption of dried mushrooms and truffles decreased by -1.4% to 964K tons, falling for the second year in a row after three years of growth. Overall, the total consumption indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.2% against 2020 indices. Global consumption peaked at 986K tons in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

The global dried mushroom market revenue declined slightly to $15.4B in 2022, remaining relatively unchanged 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 +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market reached the peak level at $15.8B in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The country with the largest volume of dried mushroom consumption was China (792K tons), comprising approx. 82% of total volume. Moreover, dried mushroom consumption in China exceeded the figures recorded by the second-largest consumer, Zambia (54K tons), more than tenfold. The third position in this ranking was taken by the Netherlands (17K tons), with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +3.8%. In the other countries, the average annual rates were as follows: Zambia (+8.9% per year) and the Netherlands (+6.8% per year).

In value terms, China ($12.7B) led the market, alone. The second position in the ranking was taken by Zambia ($762M). It was followed by Vietnam.

In China, the dried mushroom market increased at an average annual rate of +4.2% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Zambia (+8.6% per year) and Vietnam (+16.3% per year).

In 2022, the highest levels of dried mushroom per capita consumption was registered in Zambia (2.8 kg per person), followed by the Netherlands (1 kg per person), China (0.6 kg per person) and Vietnam (0.2 kg per person), while the world average per capita consumption of dried mushroom was estimated at 0.1 kg per person.

In Zambia, dried mushroom per capita consumption increased at an average annual rate of +5.9% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the Netherlands (+6.3% per year) and China (+3.7% per year).

Production

World Production of Dried Mushrooms And Truffles

Global dried mushroom production totaled 991K tons in 2022, approximately mirroring the previous year. The total output volume increased at an average annual rate of +4.0% 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 2017 with an increase of 5.5%. Over the period under review, global production attained the peak volume at 1M tons in 2020; however, from 2021 to 2022, production failed to regain momentum.

In value terms, dried mushroom production totaled $16B in 2022 estimated in export price. The total output value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 33% against the previous year. As a result, production attained the peak level of $18B. From 2017 to 2022, global production growth remained at a lower figure.

Production By Country

The country with the largest volume of dried mushroom production was China (877K tons), accounting for 88% of total volume. Moreover, dried mushroom production in China exceeded the figures recorded by the second-largest producer, Zambia (54K tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +3.9%. The remaining producing countries recorded the following average annual rates of production growth: Zambia (+8.9% per year) and the Netherlands (+4.2% per year).

Imports

World Imports of Dried Mushrooms And Truffles

In 2022, purchases abroad of dried mushrooms and truffles decreased by -21.1% to 74K tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports, however, continue to indicate a temperate increase. The pace of growth appeared the most rapid in 2014 with an increase of 29% against the previous year. Global imports peaked at 153K tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, dried mushroom imports contracted to $869M in 2022. Overall, imports, however, recorded a perceptible expansion. The growth pace was the most rapid in 2018 with an increase of 39%. As a result, imports attained the peak of $1.6B. From 2019 to 2022, the growth of global imports remained at a somewhat lower figure.

Imports By Country

In 2022, Vietnam (15K tons) and Hong Kong SAR (13K tons) represented the key importers of dried mushrooms and trufflesin the world, together reaching near 39% of total imports. Malaysia (8.9K tons) took the next position in the ranking, followed by Thailand (6.6K tons) and the United States (3.8K tons). All these countries together took approx. 26% share of total imports. The following importers - Taiwan (Chinese) (2.9K tons), Japan (2.7K tons), South Korea (2K tons), Italy (2K tons), France (2K tons), Germany (1.8K tons) and Indonesia (1.1K tons) - together made up 20% of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +21.6%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest dried mushroom importing markets worldwide were Vietnam ($221M), Malaysia ($133M) and Hong Kong SAR ($74M), together accounting for 49% of global imports.

Among the main importing countries, Vietnam, with a CAGR of +20.5%, recorded 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.

Imports By Type

In 2022, vegetables; mushrooms, other than the genus agaricus and truffles, whole, cut, sliced, broken or in powder but not further prepared, dried (36K tons) represented the largest type of dried mushrooms and truffles, constituting 56% of total imports. It was distantly followed by vegetables; wood ears (auricularia spp), whole, cut, sliced, broken or in powder but not further prepared, dried (16K tons), vegetables; mushrooms of the genus agaricus, whole, cut, sliced, broken or in powder but not further prepared, dried (6K tons) and vegetables; jelly fungi (tremella spp)), whole, cut, sliced, broken or in powder but not further prepared, dried (5.6K tons), together committing a 44% share of total imports.

Vegetables; mushrooms, other than the genus agaricus and truffles, whole, cut, sliced, broken or in powder but not further prepared, dried experienced a relatively flat trend pattern with regard to volume of imports. At the same time, vegetables; jelly fungi (tremella spp)), whole, cut, sliced, broken or in powder but not further prepared, dried (+4.8%) and vegetables; wood ears (auricularia spp), whole, cut, sliced, broken or in powder but not further prepared, dried (+4.5%) displayed positive paces of growth. Moreover, vegetables; jelly fungi (tremella spp)), whole, cut, sliced, broken or in powder but not further prepared, dried emerged as the fastest-growing type imported in the world, with a CAGR of +4.8% from 2012-2022. By contrast, vegetables; mushrooms of the genus agaricus, whole, cut, sliced, broken or in powder but not further prepared, dried (-3.4%) illustrated a downward trend over the same period. Vegetables; wood ears (auricularia spp), whole, cut, sliced, broken or in powder but not further prepared, dried (+6.6 p.p.) and vegetables; jelly fungi (tremella spp)), whole, cut, sliced, broken or in powder but not further prepared, dried (+2.5 p.p.) significantly strengthened its position in terms of the global imports, while vegetables; mushrooms, other than the genus agaricus and truffles, whole, cut, sliced, broken or in powder but not further prepared, dried and vegetables; mushrooms of the genus agaricus, whole, cut, sliced, broken or in powder but not further prepared, dried saw its share reduced by -3.2% and -5.9% from 2012 to 2022, respectively.

In value terms, vegetables; mushrooms, other than the genus agaricus and truffles, whole, cut, sliced, broken or in powder but not further prepared, dried ($387M) constitutes the largest type of dried mushrooms and truffles imported worldwide, comprising 63% of global imports. The second position in the ranking was taken by vegetables; wood ears (auricularia spp), whole, cut, sliced, broken or in powder but not further prepared, dried ($121M), with a 20% share of global imports. It was followed by vegetables; mushrooms of the genus agaricus, whole, cut, sliced, broken or in powder but not further prepared, dried, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of the value of vegetables; mushrooms, other than the genus agaricus and truffles, whole, cut, sliced, broken or in powder but not further prepared, dried imports was relatively modest. With regard to the other imported products, the following average annual rates of growth were recorded: vegetables; wood ears (auricularia spp), whole, cut, sliced, broken or in powder but not further prepared, dried (+7.6% per year) and vegetables; mushrooms of the genus agaricus, whole, cut, sliced, broken or in powder but not further prepared, dried (-2.9% per year).

Import Prices By Type

The average dried mushroom import price stood at $11,817 per ton in 2022, rising by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2013 when the average import price increased by 12%. Global import price peaked at $12,095 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major imported products. In 2022, major imported products recorded the following prices: in vegetables; mushrooms, other than the genus agaricus and truffles, whole, cut, sliced, broken or in powder but not further prepared, dried ($10,901 per ton) and vegetables; mushrooms of the genus agaricus, whole, cut, sliced, broken or in powder but not further prepared, dried ($9,176 per ton), while the price for vegetables; wood ears (auricularia spp), whole, cut, sliced, broken or in powder but not further prepared, dried ($7,627 per ton) and vegetables; jelly fungi (tremella spp)), whole, cut, sliced, broken or in powder but not further prepared, dried ($8,624 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by vegetables; wood ears (auricularia spp), whole, cut, sliced, broken or in powder but not further prepared, dried (+3.0%), while the other products experienced more modest paces of growth.

Import Prices By Country

In 2022, the average dried mushroom import price amounted to $11,817 per ton, surging by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 12%. Global import price peaked at $12,095 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 France ($23,784 per ton), while Indonesia ($4,962 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+10.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Dried Mushrooms And Truffles

In 2022, overseas shipments of dried mushrooms and truffles were finally on the rise to reach 100K tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports saw moderate growth. The most prominent rate of growth was recorded in 2013 when exports increased by 79% against the previous year. The global exports peaked at 271K tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, dried mushroom exports rose sharply to $1.7B in 2022. In general, exports recorded buoyant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 90%. Over the period under review, the global exports reached the maximum at $3.7B in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

China prevails in exports structure, reaching 86K tons, which was approx. 85% of total exports in 2022. Germany (2.1K tons) took a little share of total exports.

Exports from China increased at an average annual rate of +5.0% from 2012 to 2022. At the same time, Germany (+7.1%) displayed positive paces of growth. Moreover, Germany emerged as the fastest-growing exporter exported in the world, with a CAGR of +7.1% from 2012-2022. While the share of China (+8.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1.4B) remains the largest dried mushroom supplier worldwide, comprising 86% of global exports. The second position in the ranking was held by Germany ($19M), with a 1.2% share of global exports.

From 2012 to 2022, the average annual growth rate of value in China stood at +6.0%.

Exports By Type

Vegetables; wood ears (auricularia spp), whole, cut, sliced, broken or in powder but not further prepared, dried represented the largest exported product with an export of about 23K tons, which amounted to 50% of total exports. It was distantly followed by vegetables; mushrooms, other than the genus agaricus and truffles, whole, cut, sliced, broken or in powder but not further prepared, dried (14K tons), vegetables; jelly fungi (tremella spp)), whole, cut, sliced, broken or in powder but not further prepared, dried (4.7K tons) and vegetables; mushrooms of the genus agaricus, whole, cut, sliced, broken or in powder but not further prepared, dried (3.2K tons), together creating a 50% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exported products, was attained by vegetables; wood ears (auricularia spp), whole, cut, sliced, broken or in powder but not further prepared, dried (with a CAGR of +7.1%), while the other products experienced mixed trends in the exports figures.

In value terms, the largest types of exported dried mushrooms and truffles were vegetables; wood ears (auricularia spp), whole, cut, sliced, broken or in powder but not further prepared, dried ($320M), vegetables; mushrooms, other than the genus agaricus and truffles, whole, cut, sliced, broken or in powder but not further prepared, dried ($274M) and vegetables; jelly fungi (tremella spp)), whole, cut, sliced, broken or in powder but not further prepared, dried ($90M), with a combined 94% share of global exports.

In terms of the main exported products, vegetables; wood ears (auricularia spp), whole, cut, sliced, broken or in powder but not further prepared, dried, with a CAGR of +7.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced mixed trends in the exports figures.

Export Prices By Type

In 2022, the average dried mushroom export price amounted to $16,722 per ton, picking up by 2.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2021 when the average export price increased by 18% against the previous year. Over the period under review, the average export prices reached the maximum at $16,977 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exported products. In 2022, major exported products recorded the following prices: in vegetables; jelly fungi (tremella spp)), whole, cut, sliced, broken or in powder but not further prepared, dried ($19,173 per ton) and vegetables; mushrooms, other than the genus agaricus and truffles, whole, cut, sliced, broken or in powder but not further prepared, dried ($19,075 per ton), while the average price for exports of vegetables; mushrooms of the genus agaricus, whole, cut, sliced, broken or in powder but not further prepared, dried ($13,234 per ton) and vegetables; wood ears (auricularia spp), whole, cut, sliced, broken or in powder but not further prepared, dried ($14,224 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by vegetables; mushrooms of the genus agaricus, whole, cut, sliced, broken or in powder but not further prepared, dried (+3.7%), while the other products experienced more modest paces of growth.

Export Prices By Country

The average dried mushroom export price stood at $16,722 per ton in 2022, with an increase of 2.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 18%. Over the period under review, the average export prices hit record highs at $16,977 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

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 China ($16,886 per ton), while Germany stood at $9,088 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.0%).

Source: IndexBox Market Intelligence Platform