Industry Overview

Global mushroom-based jerky market was valued at USD XX Mn in 2020 and is expected to grow at a CAGR of XX% during 2021–2029 to reach XX Mn by the year 2029. Health benefits associated with consumption of mushroom-based jerky & increasing awareness among young consumers towards a healthy lifestyle are among the key factors contributing to the overall development of the mushroom-based jerky market.

Introduction

Mushroom jerky involved the mushroom along with a combination of wheat, soy, gluten, and other vegan ingredients. Unlike traditional jerky, which is made from domestic as well as game animals and has limited shelf-life mushroom jerky is gaining popularity owing to the increasing vegan population across the globe.

According to a recent study conducted by Grand Report Insights, the Mushroom jerky market is expected to witness prominent growth over the period 2021-2029 with a CAGR of XX%.

Mushroom based Jerky Market Covid-19 Pandemic Impact & Recovery Analysis

Covid-19 Pandemic impacted the global economy adversely and created major growth challenges in the food & beverage sector accounted for limited supply chain capabilities. Population across the globe was affected during this period and consumer shift towards a healthy diet was the noticeable change registered in the year 2020.

Major companies in the mushroom jerky market implemented enhanced growth strategies to recovery from the pandemic and expand growth in untapped markets.

Mushroom based Jerky Market Dynamics

Mushroom-based jerky has a few characteristics with traditional jerkies, such as chewy and “meaty” textures. It also contains a lot of protein and is low in calories. For vegan and vegetarian consumers, it is the finest alternative to typical meat-based jerky. One of the key elements driving the market growth of mushroom-based jerky is the rising trend of veganism.

Mushroom-based jerky provides several advantages over typical jerky, including the prevention of some ailments, such as heart disease, obesity, hypertension, prostate cancer, and others.

Consumption of on-the-go and nutritious food products has increased as a result of a busy lifestyle and rising disposable income. To that end, several producers provide mushroom-based jerky with characteristics such as no preservatives, reduced cholesterol, and 3 % RDA iron. It’s a popular choice for on-the-go snacks, and it’s also simple to make at home.

According to a study conducted by Grand Report Insights, greater health awareness, as well as increased concern for animal welfare and environmental sustainability, are the primary reasons driving the worldwide mushroom-based jerky industry.

Mushroom based Jerky Market Segment Analysis

The mushroom-based jerky market is segmented by product, by distribution channel, by end-user, & by region.

Insights by Distribution Channel

Based on the distribution channel, the mushroom jerky market is segmented into business to consumer and business to business. In the year 2020, business to consumer segment accounted for the largest market share in terms of revenue accounted for a significant consumer shift by the consumer towards a vegan alternative for traditional jerky & online purchasing habit growth in developed economies. However, a larger number of business-to-business companies entering the market to grab growing market demand which is expected to drive the growth for the business-to-business segment in the mushroom jerky market over the forecast period.

Insights by End-User

Based on end-user, the market is bifurcated into the food service industry, retail/household, food processing industry, and others. In the year 2020, the retail/household segment dominated the market owing to increasing consumer demand for a vegan alternative for traditional jerky, however, the foodservice industry registered strong CAGR during the year 2021-2029 indicating strong growth opportunities in the service industry segment with rising focus on delivering health-centric offerings by foodservice providers such as hospitals, cafeterias, and restaurants.

Mushroom based Jerky Market Regional Analysis

North America led the mushroom jerky market in the year 2020 as snacking has recently grown more popular among consumers than sit-down dinners in the region. Veganism is becoming more popular in North America as well. The market is expected to be driven by the rising dietary trend of switching to more nutritious foods.

Europe was the second-largest revenue contributor in the mushroom-based jerky market owing to increasing consumer demand. Vegans in Europe have increased from 1.3 million to 2.6 million in the previous four years, accounting for 3.2 %. Almost a third of Europeans no longer consider themselves to be full-fledged meat-eaters.

A surge in the vegan population will raise demand for mushroom-based jerky across the European market since mushroom-based jerky has shown to be a viable alternative for vegan foods like sandwiches and salads.

Mushroom-based jerky is also more medically advantageous for customers than typical jerky since it has higher fiber content, as well as more minerals, vitamins, and energy. As a result, the mushroom-based jerky business is expanding in this region.

Competitive Insights

The mushroom-based jerky market is dominated by a few major market players. However, new market entrants and government initiatives to empower small startups in regions such as the Asia Pacific, and Europe are expected to increase the market competition over the forecast period. Key players who are operating directly and indirectly in the mushroom jerky market are Unisoy foods, Cocoburg LLC, Vegky, Shiitake, Hive, Inc., Primal spirit food Inc., Louisville Vegan Jerky Co., Moku, South Mill Chimps, Country Archer Provisions and some others. (20+ Companies profiled in the final report)

More information on the product packaging is preferred by consumers. Clean labels, such as gluten-free, non-GMO, low sodium, minimum processing, no artificial ingredients, and no antibiotics, are becoming increasingly popular in the industry, as major companies strive to match customer preferences.

Prominent players in the mushroom jerky market are focusing largely on mergers, acquisitions, partnerships, and portfolio expansion to gain a competitive edge and grab untapped market opportunities.

Mushroom based Jerky Market Report Coverage

Global Mushroom based Jerky Market, by Distribution Channel

• Business to consumer
  • Convenience stores
  • Specialty stores
  • Online retail
  • Hypermarket/supermarket
• Business to Business  

Global Mushroom based Jerky Market, by End-User

• Foodservice industry
• Retail/Household
• Food processing industry
• Others

Global Mushroom based Jerky Market, by Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
• Asia Pacific
  • China
  • South Korea
  • Japan
  • Australia
  • Malaysia
• Middle East & Africa
  • Saudi Arabia
  • United Arab Emirates
  • South Africa
• South America
  • Brazil
  • Argentina