Fresh Mushroom Market in Singapore 2016-2020
Mushrooms are porous, fleshy, and spongy and are most often considered as vegetables. They have both individual consumers and foodservice providers as primary consumers. Because of their medicinal and nutritional values, consumers in Singapore are willing to pay more for healthy, fresh, and hygienically-packed fresh mushrooms. However, Singapore is a net importer of fresh mushrooms with more than 95% of its fresh mushrooms being imported from other APAC countries.
Technavio’s analysts forecast the fresh mushroom market in Singapore to grow at a CAGR of 2.88% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the fresh mushroom market in Singapore for 2016-2020. To calculate the market size, the report considers the revenue generated from the sale of fresh mushrooms in both the retail sector and the foodservice sector.
The market is divided into the following segments based on product type:
Technavio Announces the Publication of its Research Report – Fresh Mushroom Market in Singapore 2016-2020
Technavio recognizes the following companies as the key players in the fresh mushroom market in Singapore: Aries Fresh, FreshDirect, Mycofarm Global, SGvegetables, Ban Choon Marketing, and Thygrace Marketing.
Other Prominent Vendors in the market are: Champ Fungi, and Hup Heng Fresh Produce.
Commenting on the report, an analyst from Technavio’s team said: “Mushroom farm tourism will be a key trend for market growth. Many of the private tour organizers include mushroom farm visits in their packages. Farms such as Kin Yan Agrotech and Mycofarm are increasingly gaining popularity and attracting more tourists. For instance, hourly tours are being organized by Mycofarm from 11 am to 4 pm. Besides visiting the farms, the tourists can taste mushrooms that are cooked on the spot; they can also purchase them in the retail shops inside the farms. They are shown the grow room of mushrooms in the farm, where shiitake and oyster mushrooms are grown on logs at a temperature of 15 °C to 20 °C. Tourists are also taken to the packaging room, where mushrooms are packed to be delivered to supermarkets.”
According to the report, increasing popularity of specialty mushrooms will be a key driver for market growth. Specialty mushrooms are gaining importance in Singapore. For example, Maitake mushroom, a specialty mushroom, was launched in the market in July 2015 by the Hokto Kinoko Corporation of Japan. Maitake mushrooms are grown in Japan and exported to Singapore. They are rich in proteins, vitamins, and minerals and fortify the immune system. These mushrooms are also promoted through cookery shows and tasting events in high-end restaurants. However, other types of gourmet fresh mushrooms like Porcini, Morel, forest, chanterelle, and wild types of mushrooms are in greater demand. Seasonal mushrooms are also in high demand.
Further, the report states that one of the challenges for the market will be labor-intensive nature of mushroom cultivation. Mushroom production requires high level of management skill and input. There is always a wrong perception among new growers that mushroom cultivation is easy. However, they fail to analyze that each species of mushroom needs specialized treatment to yield consistent results. Mushroom cultivation is labor-intensive and physically demanding. For example, outdoor mushroom cultivation involves hard work such as hauling logs to incubation sites and cutting trees, moving logs inside and outside of soak tanks, and packaging and transporting to markets. The size of the labor force in Singapore was more than 3.08 million as of 2010, but only 0.1% of the labor force was engaged in agriculture, which is a main concern. Retaining labor in this field is also difficult owing to the labor-intensive nature of the work.
Aries Fresh, FreshDirect, Mycofarm Global, SGvegetables, Ban Choon Marketing,Thygrace Marketing, Champ Fungi, Hup Heng Fresh Produce.
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