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Fresh Mushroom Market in Singapore 2016-2020

  • Published: Aug 2016
  • Pages: 57
  • SKU: IRTNTR10293
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This market research report identifies players like Aries Fresh, FreshDirect, Mycofarm, SG Vegetables, Ban Choon, and Thygrace to be the key vendors in the fresh mushroom market in Singapore. This research report presents a detailed segmentation of the market by products such as button, shiitake, oyster, and other mushrooms. The market study also presents a comprehensive analysis of the key market trends, drivers, and challenges that influence market growth.

Overview of the fresh mushroom market in Singapore

Technavio’s market research analyst predicts that the fresh mushroom market in Singapore will surpass USD 100 billion between 2016 and 2020.  Singapore is a net importer of fresh mushrooms with more than 95% of its fresh mushrooms being imported from APAC countries.  The consumption of fresh mushrooms will increase during the forecast period because of millennial consumers who are aware of the nutritional and medicinal benefits of mushrooms and are willing to pay more for healthy, fresh, and hygienically-packed fresh mushrooms. Fresh mushrooms are high in antioxidants and contain selenium, which plays a crucial role in liver enzyme function and aids in combating cancer by detoxifying cancer-triggering compounds in the body. Mushrooms compromise dietary fibers, such as chitin and beta-glucans, in their cell walls, which help in reducing appetite and increasing satiety. Consumers are also trying out mushroom value-added products such as mushroom pickle, mushroom chips, and mushroom ketchup. Moreover, the rise in the consumption of mushrooms in commercial restaurants, cafeteria, hotels, and supermarkets will further augment the growth of the fresh mushroom market in Singapore in the coming years.

People in Singapore are shifting towards vegetarian diets due to ethical considerations for animals and the environment. The Vegetarian Society, a non-profit organization in Singapore, is taking several initiatives to create awareness among people about vegetarianism and its effects on global warming and environmental degradation. Mushroom is the only non-animal source of Vitamin D, which has propelled vegetarians to opt for mushrooms to maintain a balanced diet. In addition, specialty mushrooms are gaining importance in Singapore as they are rich in proteins, vitamins, and minerals and fortify the immune system. Specialty fresh mushrooms are primarily imported from Japan, France, and Italy.

Competitive landscape and key vendors

The fresh mushroom market in Singapore is highly fragmented and competitive because of the presence of numerous small and large vendors, who compete on the basis of factors such as price, quality, reputation, and distribution. The rapidly changing consumer tastes and preferences impact the growth prospects for the market players. A very high degree of regulation in food safety standards prevails in the market, which restricts the entry of new players. Also, the presence of large players, high operating expenses, and the massive initial investments required limits the new players to enter the market.

Leading vendors in the market are -

  • Aries Fresh
  • FreshDirect
  • Mycofarm
  • SG Vegetables
  • Ban Choon
  • Thygrace

Other prominent vendors in the fresh mushroom market in Singapore include Champ Fungi and Hup Heng Fresh Produce.

Segmentation by products and analysis of the fresh mushroom market in Singapore

  • Button mushroom
  • Shiitake mushroom
  • Oyster mushroom

The button mushroom segment will continue to dominate the market over the predicted period, accounting for around 39% of the total market share. Fresh button mushrooms are also referred to as white button mushrooms. They are available throughout the year and are used in casseroles, soups, and salads. Button mushrooms are a rich source of Vitamin D and potassium and help in treating prostate cancer, besides balancing estrogen production in the body. Also, these mushrooms are compact in size which helps vendors to pick, pack, and ship them easily.

Growth drivers, challenges, and upcoming trends:  Organic mushrooms

Upcoming trends such as organic mushrooms are gaining popularity in the market as they are pesticide-free food products. These organic mushrooms are certified by Singapore Government Studies (SGS), which guarantees compliance of regulations, improved brand value, fulfilment of consumer demand for organically-produced products, and protects the environment. Though expensive, people are increasingly opting for organic mushrooms owing to their health benefits as they are natural and chemical-free.

This report provides a number of factors contributing to the adoption, limitations, and opportunities of the fresh mushroom market in Singapore. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.

 Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the fresh mushroom market in Singapore?
  • What are the key market trends impacting the growth of the fresh mushroom market in Singapore?
  • What are the challenges to market growth?
  • Who are the key vendors in the fresh mushroom market in Singapore?
  • What are the market opportunities and threats faced by the vendors in the fresh mushroom market in Singapore?
  • Trending factors influencing the market shares of Singapore.
  • What are the key outcomes of the five forces analysis of the fresh mushroom market in Singapore?

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Related reports:

Fresh mushroom is considered as a healthy food alternative and is extensively utilized across several food service restaurants in Singapore. Owing to their high nutrition potential, this mushroom variety has a high demand across several retailing channels in Singapore. It has been observed that the consumers in Singapore are willing to pay more for healthy, fresh, and hygienically packed fresh mushrooms. Since these food products are natural, have high nutritional value, and are organically grown and chemical-free, its demand among the customers will increase significantly over the next few years. Aries Fresh, Fresh Mushrooms, and Mycofarm Global will be some of the prominent vendors in this market space.

The report, fresh mushroom market in Singapore, is part of Technavio’s food and beverage research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as alcoholic beverages, food, food service, and non-alcoholic beverages. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.

Table of Contents

PART 01: Executive summary

  • Highlights

PART 02: Scope of the report

  • Market overview
  • Top-vendor offerings

PART 03: Country profile: Singapore

  • Economy overview

PART 04: Market research methodology

  • Research methodology
  • Economic indicators

PART 05: Introduction

  • Key market highlights

PART 06: Market landscape

  • Market overview
  • Market size and forecast by revenue
  • Market size and forecast by volume
  • Five forces analysis

PART 07: Market segmentation by product type

  • Fresh mushroom market in Singapore by product type
  • Fresh button mushroom market in Singapore
  • Fresh shiitake mushroom market in Singapore
  • Fresh oyster mushroom market in Singapore
  • Other fresh mushroom market in Singapore

PART 08: Distribution channel analysis

  • Top five distributors
  • Top five retailers
  • Online retailers

PART 09: Import and export

  • Import and export of fresh mushrooms
  • Key countries involved in imports and exports of fresh mushrooms in Singapore
  • Singapore's dependency on import of fresh mushrooms
  • Increasing domestic production in Singapore

PART 10: Market drivers

PART 11: Impact of drivers

PART 12: Market challenges

PART 13: Impact of drivers and challenges

PART 14: Market trends

PART 15: Vendor landscape

  • Competitive scenario
  • Competitive positioning assessment for fresh mushroom players
  • Aries Fresh
  • FreshDirect
  • Mycofarm Global
  • SGvegetables
  • Ban Choon Marketing
  • Thygrace Marketing
  • Other prominent vendors

PART 16: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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