Singapore - Fresh Mushroom Market by Product, Distribution Channel and Application - Forecast and Analysis 2024-2028

Published: Oct 2023 Pages: 120 SKU: IRTNTR76664

Singapore - Fresh Mushroom Market 2024-2028

The Singapore - Fresh Mushroom Market size is projected to increase by USD 33.26 million and the market size is estimated to grow at a CAGR of 4.75% between 2023 and 2028.

This Singapore fresh mushroom market report extensively covers market segmentation by product (button mushroom, shiitake mushroom, oyster mushroom, and others), distribution channel (offline and online), and application (food and pharmaceuticals). Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.

Medicinal values associated with mushrooms are notably driving the market growth. Mushrooms are considered a superfood, as they are high in antioxidants, and contain selenium, which is a mineral that is not present in most vegetables. This mineral plays a vital role in liver enzyme function and aids in combating cancer by detoxifying cancer-triggering compounds in the body. Mushrooms are high in potassium and low in sodium which decreases the chances of cardiovascular diseases and high blood pressure. Moreover, the demand for Chaga mushrooms is expected to increase due to the various health-promoting benefits associated with their consumption. The growing health consciousness among consumers is also expected to drive the growth of Chaga mushrooms in Singapore. Additionally, the number of new product launches containing Chaga mushrooms as an ingredient is expected to increase. Thus, the medicinal and nutritional benefits associated with the consumption of mushrooms will drive the growth of the market during the forecast period.

Singapore Fresh Mushroom Market: Overview

The Singapore Fresh Mushroom Market shows an accelerated CAGR during the forecast period.

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Trends

Rising adoption of vegan diets is an emerging trend shaping the market growth. The major aspects fueling the growth of the Singapore - fresh mushroom market include the booming food and beverage sector, coupled with the increasing number of health-conscious people globally. The changing food preference among people for vegan food items is driving the demand for mushrooms, as they are a rich source of vitamins, protein, and minerals and can be used as a meat substitute. The growing vegan population demanding a protein-rich diet is expected to drive the growth of the Singapore - fresh mushroom market.

Furthermore, mushrooms provide a strong natural umami flavour, allowing consumers to reduce salt proportion by 30%-40%, thereby benefiting health. The rapid expansion of the food and beverage industry is accelerating the demand for mushrooms across hotels, restaurants, and cafeterias. The rise in the adoption of mushrooms as a substitute for meat will positively influence market demand. Such factors are expected to drive the growth of the market during the forecast period.

Challenge 

Risks related to diseases, abnormal temperature change, and extreme weather events are a significant challenge hindering the market growth.  Mushrooms are exposed to diseases and pests. A variety of midge species, small flies, and certain mite species can damage the mushroom crop. Although mushrooms belong to the fungi group, they can still be affected by a wide range of fungal pathogens, such as Trichoderma, Mycogone, Dactylium, Fusarium, Verticillium, Scopulariopsis, Papulaspora, Diehlomyces. Global warming is increasing the frequency and severity of extreme weather events around the world.

However, mushroom producers are using carefully managed environments for cultivation, extreme weather events may still impact their cultivation process. Therefore, increasing damage to crops and agricultural products due to natural calamities can severely impede the growth of the Singapore - fresh mushroom market. Such factors are expected to hinder the growth of the market during the forecast period.

Singapore Fresh Mushroom Market Segmentation by Distribution Channel

The offline segment comprises department stores, supermarkets, hypermarkets, convenience stores, and shopping malls. FairPrice Xtra, Sheng Siong, and NTUC FairPrice are some of the largest retail chains in Singapore that have separate retailing sections for fresh mushrooms. The growing agricultural industry and the establishment of numerous retail outlets are driving sales of mushrooms in this segment. Additionally, with the growing number of vegan population and the rise in health-conscious consumers, the sales of fresh mushrooms in Singapore through offline channels are expected to increase. Many consumers prefer local stores to buy supplies and service products, such as fresh button mushrooms and fresh oyster mushrooms. Therefore, the above-mentioned factors are expected to increase the demand for the Singapore - fresh mushroom market in the offline segment, which will drive the growth of the market during the forecast period.

Singapore Fresh Mushroom Market Segmentation by Product

The market share growth by the button mushroom segment will be significant during the forecast period. Button mushrooms are common and well-known white fungi used in many recipes and cooking techniques, such as cakes, omelets, pasta, risotto, and pizza. Button mushrooms are the workhorse of the mushroom family, and their mild flavor and meaty texture make them incredibly versatile. 

The button mushroom was the largest and was valued at USD 39.57 million in 2018

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Additionally, button mushrooms are the least expensive type, have the most delicate flavor, and easily absorb the flavors of the ingredients they are cooked with. They can be consumed raw or cooked by roasting, deep-frying, grilling, braising, and sauteing. Button mushrooms are high in demand as they contain proteins and essential amino acids that can meet nutritional needs and have low cholesterol and fat content. Moreover, button mushrooms are available throughout the year and are the most preferred type of mushrooms owing to their superior taste and sweet and earthy smell. Thus, the versatility of button mushrooms and usage in cooking will drive the demand for button mushrooms which, in turn, will drive the growth of the market during the forecast period.

Company Overview

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

  • Key Offering- Aries Fresh Pte Ltd.: The company offers fresh mushrooms such as oyster mushroom.
  • Key Offering-  Champ Fungi Sdn. Bhd.: The company offers fresh mushrooms such as white button mushrooms.
  • Key Offering- Cold Storage Singapore 1983 Pte Ltd. - The company offers fresh mushrooms under its brand Meadows.

The Singapore Fresh Mushroom Market report also includes detailed analyses of the competitive landscape of the market and information about 7 market companies, including:

  • Kin Yan Agrotech Pte Ltd.
  • Koninklijke Ahold Delhaize NV
  • Mycofarm Pte Ltd.
  • The Mushroom Farm

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The Singapore Fresh Mushroom Market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

  • Product Outlook
    • Button mushroom
    • Shiitake mushroom
    • Oyster mushroom
    • Others
  • Distribution Channel Outlook
    • Offline
    • Online
  • Application Outlook
    • Food
    • Pharmaceuticals

Singapore Fresh Mushroom Market Scope

Report Coverage

Details

Page number

120

Base year

2023

Historic period

2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.75%

Market growth 2024-2028

USD 33.26 million

Market structure

Concentrated

YoY growth 2023-2024(%)

4.25

Regional analysis

Singapore

Performing market contribution

APAC at 100%

Key countries

Singapore and APAC

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Aries Fresh Pte Ltd., Champ Fungi Sdn. Bhd., Cold Storage Singapore 1983 Pte Ltd., Kin Yan Agrotech Pte Ltd., Koninklijke Ahold Delhaize NV, Mycofarm Pte Ltd., and The Mushroom Farm

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. 

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Singapore Fresh Mushroom Market In Country Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2024 and 2028
  • Precise estimation of the Singapore Fresh Mushroom Market size and its contribution of the market in focus to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market across Singapore
  • Thorough analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of Singapore Fresh Mushroom Market companies

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 07: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 08: Parent market
    • Exhibit 09: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 10: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 11: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 12: Chart on Singapore - Market size and forecast 2023-2028 ($ million)
      • Exhibit 13: Data Table on Singapore - Market size and forecast 2023-2028 ($ million)
      • Exhibit 14: Chart on Singapore: Year-over-year growth 2023-2028 (%)
      • Exhibit 15: Data Table on Singapore: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Fresh mushroom market in singapore 2018 - 2022
      • Exhibit 16: Historic Market Size – Data Table on fresh mushroom market in singapore 2018 - 2022 ($ million)
    • 4.2 Product Segment Analysis 2018 - 2022
      • Exhibit 17: Historic Market Size – Product Segment 2018 - 2022 ($ million)
    • 4.3 Distribution Channel Segment Analysis 2018 - 2022
      • Exhibit 18: Historic Market Size – Distribution Channel Segment 2018 - 2022 ($ million)
    • 4.4 Application Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Application Segment 2018 - 2022 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 20: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 21: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 22: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 23: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 24: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 25: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 26: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 27: Chart on Product - Market share 2023-2028 (%)
      • Exhibit 28: Data Table on Product - Market share 2023-2028 (%)
    • 6.2 Comparison by Product
      • Exhibit 29: Chart on Comparison by Product
      • Exhibit 30: Data Table on Comparison by Product
    • 6.3 Button mushroom - Market size and forecast 2023-2028
      • Exhibit 31: Chart on Button mushroom - Market size and forecast 2023-2028 ($ million)
      • Exhibit 32: Data Table on Button mushroom - Market size and forecast 2023-2028 ($ million)
      • Exhibit 33: Chart on Button mushroom - Year-over-year growth 2023-2028 (%)
      • Exhibit 34: Data Table on Button mushroom - Year-over-year growth 2023-2028 (%)
    • 6.4 Shiitake mushroom - Market size and forecast 2023-2028
      • Exhibit 35: Chart on Shiitake mushroom - Market size and forecast 2023-2028 ($ million)
      • Exhibit 36: Data Table on Shiitake mushroom - Market size and forecast 2023-2028 ($ million)
      • Exhibit 37: Chart on Shiitake mushroom - Year-over-year growth 2023-2028 (%)
      • Exhibit 38: Data Table on Shiitake mushroom - Year-over-year growth 2023-2028 (%)
    • 6.5 Oyster mushroom - Market size and forecast 2023-2028
      • Exhibit 39: Chart on Oyster mushroom - Market size and forecast 2023-2028 ($ million)
      • Exhibit 40: Data Table on Oyster mushroom - Market size and forecast 2023-2028 ($ million)
      • Exhibit 41: Chart on Oyster mushroom - Year-over-year growth 2023-2028 (%)
      • Exhibit 42: Data Table on Oyster mushroom - Year-over-year growth 2023-2028 (%)
    • 6.6 Others - Market size and forecast 2023-2028
      • Exhibit 43: Chart on Others - Market size and forecast 2023-2028 ($ million)
      • Exhibit 44: Data Table on Others - Market size and forecast 2023-2028 ($ million)
      • Exhibit 45: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 46: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 6.7 Market opportunity by Product
      • Exhibit 47: Market opportunity by Product ($ million)
      • Exhibit 48: Data Table on Market opportunity by Product ($ million)

    7 Market Segmentation by Distribution Channel

    • 7.1 Market segments
      • Exhibit 49: Chart on Distribution Channel - Market share 2023-2028 (%)
      • Exhibit 50: Data Table on Distribution Channel - Market share 2023-2028 (%)
    • 7.2 Comparison by Distribution Channel
      • Exhibit 51: Chart on Comparison by Distribution Channel
      • Exhibit 52: Data Table on Comparison by Distribution Channel
    • 7.3 Offline - Market size and forecast 2023-2028
      • Exhibit 53: Chart on Offline - Market size and forecast 2023-2028 ($ million)
      • Exhibit 54: Data Table on Offline - Market size and forecast 2023-2028 ($ million)
      • Exhibit 55: Chart on Offline - Year-over-year growth 2023-2028 (%)
      • Exhibit 56: Data Table on Offline - Year-over-year growth 2023-2028 (%)
    • 7.4 Online - Market size and forecast 2023-2028
      • Exhibit 57: Chart on Online - Market size and forecast 2023-2028 ($ million)
      • Exhibit 58: Data Table on Online - Market size and forecast 2023-2028 ($ million)
      • Exhibit 59: Chart on Online - Year-over-year growth 2023-2028 (%)
      • Exhibit 60: Data Table on Online - Year-over-year growth 2023-2028 (%)
    • 7.5 Market opportunity by Distribution Channel
      • Exhibit 61: Market opportunity by Distribution Channel ($ million)
      • Exhibit 62: Data Table on Market opportunity by Distribution Channel ($ million)

    8 Market Segmentation by Application

    • 8.1 Market segments
      • Exhibit 63: Chart on Application - Market share 2023-2028 (%)
      • Exhibit 64: Data Table on Application - Market share 2023-2028 (%)
    • 8.2 Comparison by Application
      • Exhibit 65: Chart on Comparison by Application
      • Exhibit 66: Data Table on Comparison by Application
    • 8.3 Food - Market size and forecast 2023-2028
      • Exhibit 67: Chart on Food - Market size and forecast 2023-2028 ($ million)
      • Exhibit 68: Data Table on Food - Market size and forecast 2023-2028 ($ million)
      • Exhibit 69: Chart on Food - Year-over-year growth 2023-2028 (%)
      • Exhibit 70: Data Table on Food - Year-over-year growth 2023-2028 (%)
    • 8.4 Pharmaceuticals - Market size and forecast 2023-2028
      • Exhibit 71: Chart on Pharmaceuticals - Market size and forecast 2023-2028 ($ million)
      • Exhibit 72: Data Table on Pharmaceuticals - Market size and forecast 2023-2028 ($ million)
      • Exhibit 73: Chart on Pharmaceuticals - Year-over-year growth 2023-2028 (%)
      • Exhibit 74: Data Table on Pharmaceuticals - Year-over-year growth 2023-2028 (%)
    • 8.5 Market opportunity by Application
      • Exhibit 75: Market opportunity by Application ($ million)
      • Exhibit 76: Data Table on Market opportunity by Application ($ million)

    9 Customer Landscape

    • 9.1 Customer landscape overview
      • Exhibit 77: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 78: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 79: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 80: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 81: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 82: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 83: Matrix on vendor position and classification
            • 12.3 Aries Fresh Pte Ltd.
              • Exhibit 84: Aries Fresh Pte Ltd. - Overview
              • Exhibit 85: Aries Fresh Pte Ltd. - Product / Service
              • Exhibit 86: Aries Fresh Pte Ltd. - Key offerings
            • 12.4 Champ Fungi Sdn. Bhd.
              • Exhibit 87: Champ Fungi Sdn. Bhd. - Overview
              • Exhibit 88: Champ Fungi Sdn. Bhd. - Product / Service
              • Exhibit 89: Champ Fungi Sdn. Bhd. - Key offerings
            • 12.5 Cold Storage Singapore 1983 Pte Ltd.
              • Exhibit 90: Cold Storage Singapore 1983 Pte Ltd. - Overview
              • Exhibit 91: Cold Storage Singapore 1983 Pte Ltd. - Product / Service
              • Exhibit 92: Cold Storage Singapore 1983 Pte Ltd. - Key offerings
            • 12.6 Kin Yan Agrotech Pte Ltd.
              • Exhibit 93: Kin Yan Agrotech Pte Ltd. - Overview
              • Exhibit 94: Kin Yan Agrotech Pte Ltd. - Product / Service
              • Exhibit 95: Kin Yan Agrotech Pte Ltd. - Key offerings
            • 12.7 Koninklijke Ahold Delhaize NV
              • Exhibit 96: Koninklijke Ahold Delhaize NV - Overview
              • Exhibit 97: Koninklijke Ahold Delhaize NV - Business segments
              • Exhibit 98: Koninklijke Ahold Delhaize NV - Key news
              • Exhibit 99: Koninklijke Ahold Delhaize NV - Key offerings
              • Exhibit 100: Koninklijke Ahold Delhaize NV - Segment focus
            • 12.8 Mycofarm Pte Ltd.
              • Exhibit 101: Mycofarm Pte Ltd. - Overview
              • Exhibit 102: Mycofarm Pte Ltd. - Product / Service
              • Exhibit 103: Mycofarm Pte Ltd. - Key offerings
            • 12.9 The Mushroom Farm
              • Exhibit 104: The Mushroom Farm - Overview
              • Exhibit 105: The Mushroom Farm - Product / Service
              • Exhibit 106: The Mushroom Farm - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 107: Inclusions checklist
                • Exhibit 108: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 109: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 110: Research methodology
                • Exhibit 111: Validation techniques employed for market sizing
                • Exhibit 112: Information sources
              • 13.5 List of abbreviations
                • Exhibit 113: List of abbreviations

              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.

              INFORMATION 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

              DATA 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

              REPORT 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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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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