Asia Pacific Functional Mushroom Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Asia Pacific functional mushroom market is segmented by Product Type (Reishi, Cordyceps, Lion’s Mane, Turkey Tail, Shiitake, Chaga, and Other Product Types), Application (Food and Beverage, Dietary Supplements, Personal Care, and Pharmaceutical), and by Country.

Market Snapshot

Asia Pacific Functional Mushroom Market Summary
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 8.2 %

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Market Overview

The Asia Pacific functional mushroom market is projected to grow with a CAGR of 8.2% during the forecast period (2020 - 2025).

  • The Asia-Pacific functional mushroom market holds the highest market in the world, owing to high production, consumption, and exports. China is the major revenue contributor to the market studied, as it exports functional mushrooms to other countries, like the United States, the United Kingdom, and Germany, followed by Japan.​
  • In the Asian region, REISHI ​mushrooms are primarily consumed due to their health enhancing characteristics, such as immunity and longevity, while promoting liver and heart health. Moreover, these mushrooms also function as a sedative on the central nervous system, thereby, relieving stress, as well as relaxing mind and body.​
  • The high prices and low public awreness regarding the functional mushroom is one of the restraining factor to the market. Forinstance, Reishi mushroom and dried Cordyceps mushroom prices in the Asian market are about USD 51.65 and USD 2,152.41, respectively. Additionally, wild cordyceps sinensis costs over USD 20,000 per kilogram, which makes it the most expensive mushroom in the world.

Scope of the Report

The Asia Pacific functional mushroom market (henceforth, referred to as the market studied) is segmented based on product type, application, and geography. The product type is further segmented into Reishi, Cordyceps, Lion’s Mane, Turkey Tail, Shiitake, Chaga, and other product types. By application, the market is segmented into food and beverage, dietary supplements, personal care, and pharmaceutical products. On the basis of country, the market has been segmented into India, China, Japan, Australia, and Rest of Asia Pacific.

By Type
Reishi
Cordyceps
Lions Mane
Turkey Tail
Shiitake
Chaga
Other Types
By Application
Food and Beverage
Dietary Supplements
Personal Care
Pharmaceutical
By Country
China
Japan
India
Australia
Rest of Asia-Pacific

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Key Market Trends

SURGE IN DEMAND FOR FUNCTIONAL FOOD AND DIETARY SUPPLEMENTS​

There has been a considerable shift in the lifestyles and diet habits of people over the past two decades. Urbanization and consumerism drove this shift, leading to a rapid rise in the consumption of synthetic food products, resulting in an increased incidence of lifestyle diseases. ​Thus, people are becoming aware of these problems. As a result, people are gradually moving toward functional foods and beverages that are promoted as being beneficial beyond basic nutrition. These products are purported to provide optimal nutrition and reduce the risk of disease occurrence.​Functional foods are gaining high popularity among health-conscious consumers. During the forecasted period, the demand for medicinal mushrooms is expected to increase significantly, as these mushrooms are being incorporated in various functional food and beverages. For instance, reishi, chaga, and Turkey tails are added with coffee and cocoa. Turkey tails are mild enough to be added to soups and broths as well. Maiitake and Shiitake are delicious, simply sautéed with garlic​. Furthermore, the companies are incorporating functional mushrooms in the product offerings. 

Asia Pacific Functional Mushroom Market

Indian Functional Mushroom Market is the Fastest Growing Market in the Asian Region

With increasing health awareness, improvisation in the cultivation and extraction techniques of medicinal mushroom, and increasing demand for exotic mushroom varieties, the market for functional mushrooms in India is expected to witness significant growth in the coming years. ​Varied agroclimatic conditions and availability of agricultural and industrial wastes, relatively low-cost labor, and a rich fungal biodiversity in India offer great opportunities for cultivating specialty mushrooms on a commercial scale. Grey oyster, black oyster, white oyster, pink oyster, king oyster, black ear mushrooms, shimeji mushroom, shiitake mushroom, etc., are the major types of functional mushrooms grown in India.​ Mushroom cultivation in India is ,likely to help in eliminating protein malnutrition among people, primarily dependent on cereals, and offer remunerative employment opportunities in the future. The country is expected to focus on the promotion of medicinal mushrooms, like G. lucidum and Grifola frondosa (Maitake), considering its increasing importance in the national and international markets.​

Asia Pacific Functional Mushroom Market

Competitive Landscape

The market studied is highly fragmented, with the presence of many small players such as LIANFENG (SUIZHOU) FOOD CO. LTD, HOKKAIDO REISHI CO. LTD, Mitoku Company and others. Product innovation, partnerships, and expansion are the major strategies adopted by the companies in this industry, owing to the rapidly developing nature of the market. In order to constantly fulfill the increasing demand for products, expansion and product innovation have become the most followed strategies by key players. Certain players are focusing on the cultivation of other exotic and functional mushrooms, with the help of contract farming with small manufacturers of these functional mushrooms.​

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Reishi

      2. 5.1.2 Cordyceps

      3. 5.1.3 Lions Mane

      4. 5.1.4 Turkey Tail

      5. 5.1.5 Shiitake

      6. 5.1.6 Chaga

      7. 5.1.7 Other Types

    2. 5.2 By Application

      1. 5.2.1 Food and Beverage

      2. 5.2.2 Dietary Supplements

      3. 5.2.3 Personal Care

      4. 5.2.4 Pharmaceutical

    3. 5.3 By Country

      1. 5.3.1 China

      2. 5.3.2 Japan

      3. 5.3.3 India

      4. 5.3.4 Australia

      5. 5.3.5 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 MITOKU COMPANY LTD

      2. 6.4.2 LIANFENG (SUIZHOU) FOOD CO. LTD

      3. 6.4.3 HOKKAIDO REISHI CO. LTD

      4. 6.4.4 Lianfeng (Suizhou) Food Co., Ltd

      5. 6.4.5 Gooda Creek Farm

      6. 6.4.6 White Prince Mushrooms

      7. 6.4.7 Swadeshi Mushroom Spawn.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Asia Pacific Functional Mushroom Market market is studied from 2016 - 2026.

The Asia Pacific Functional Mushroom Market is growing at a CAGR of 8.2% over the next 5 years.

MITOKU COMPANY LTD, HOKKAIDO REISHI CO. LTD , Lianfeng (Suizhou) Food Co., Ltd, Gooda Creek Farm, White Prince Mushrooms are the major companies operating in Asia Pacific Functional Mushroom Market.

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