Singapore is the Net Importer of Fresh Mushrooms and will Maintain its Position until 2020: Technavio
According to the latest market study released by Technavio, the fresh mushroom market in Singapore is expected to reach USD 101.03 million by 2020, growing at a CAGR of nearly 3%.
This research report titled ‘Fresh Mushroom Market in Singapore 2016-2020‘ provides an in-depth analysis of the market in terms of revenue and emerging market trends. To calculate the market size in terms of revenue, the report has taken into consideration the revenue generated from the sale of fresh mushrooms in both the retail sector and the foodservice sector. Forecasting is based on the projected demand for fresh mushrooms in Singapore.
Mushrooms 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. It also decreases tumor growth and prevents inflammation. Besides selenium, mushrooms also contain Vitamin C, fiber, and potassium that contribute to cardiovascular health. Mushrooms that are high in potassium and low in sodium decrease the chances of cardiovascular diseases and high blood pressure.
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Technavio’s food and beverage analysts categorize the fresh mushroom market in Singapore into three major segments by product type. They are:
Market share by product type 2015 and 2020 (revenue %)
Fresh button mushroom market in Singapore
The fresh button mushroom market in Singapore was valued at USD 34.98 million in 2015 and will reach USD 39.89 million by 2020, growing at a CAGR of nearly 3%. 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. Many people are unaware of the health benefits of button mushrooms, but the product description and nutritional information on the packets can convince them to purchase these mushrooms. Button mushrooms are a rich source of Vitamin D; they are also rich in potassium mineral and help in fighting prostate cancer; they also balance estrogen (a hormone in the female reproductive system) production in the body. They contain selenium, riboflavin, and niacin.
According to Arushi Thakur, a non-alcoholic beverages industry expert from Technavio, “Fresh button mushrooms can be added to vegetable dishes in restaurants as an extra serving. Button mushrooms are small in size, which make them ideal for skewers and stews. In addition, they take on the flavors of other ingredients. For instance, they pair well with cheese, meat, herbs, and cream-based sauces. In addition, growers find the compact size of button mushrooms easy to pick, pack, and ship
Fresh shiitake mushroom market in Singapore
The fresh shiitake mushroom market in Singapore was valued at USD 28.15 million in 2015 and will reach USD 32.84 million by 2020, growing at a CAGR of 3.13%. Shiitake mushrooms are the most cultivated mushrooms in the world. They are popular in Asia. They are well-known for their smoky flavor and rich texture. Shiitake mushrooms can prevent cardiovascular diseases, destroy cancer cells, and infections and are a source of Vitamin B. These mushrooms have antifungal, antiviral, and antibacterial properties and help in reducing inflammation and controlling blood sugar. Shiitake is a very unique plant as it contains all the eight essential amino acids and linoleic acid, an essential fatty acid. The consumption of shiitake mushrooms also protects the DNA from oxidative damage.
“Restaurants, owing to the flavor and health benefits of these mushrooms, serve delicious and unique shiitake mushroom dishes. For instance, Whole Earth serves Nyonya Curry, a popular dish among Singaporeans, which contains shiitake mushrooms in a thick piquant curry sauce. Other popular dishes are Singapore noodles with shrimp and shiitake mushrooms, butter shiitake mushrooms, and braised shiitake mushrooms,” says Arushi.
Fresh oyster mushroom market in Singapore
The fresh oyster mushroom market in Singapore was valued at USD 17.54 million in 2015 and will reach USD 20.41 million by 2020, growing at a CAGR of 3.08%. Oyster mushrooms are white or greyish in color and they taste and smell very similar to oysters. These mushrooms are firm in texture and are grown on dead wood. Oyster mushrooms grow in layers, stacking upon each other. Oyster mushrooms are not only low in sodium and calories, they are also gluten-free and cholesterol-free.
In addition, these mushroom are high in iron, fiber, and protein. Furthermore, the iron content in these mushrooms are more in comparison to meat. Oyster mushrooms are easy to cultivate, and have medicinal benefits, and are paired well with white meat and seafood. The meaty texture of oyster mushrooms blends well in frying and braising.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Aries Fresh
- Mycofarm Global
- Ban Choon Marketing
- Thygrace Marketing
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