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

Global Functional Mushroom Market is segmented by Product Type (Reishi, Cordyceps, Lion’s Mane, Turkey Tail, Shiitake, Chaga, and Other Product Types); by Application (Food and Beverage, Dietary Supplements, Personal Care, and Pharmaceutical); and by Geography.

Market Snapshot

functional mushroom market
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Europe
Largest Market: Asia Pacific
CAGR: 8.04 %

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Market Overview

The global functional mushroom market is projected to grow with a CAGR of 8.04% during the forecast period (2020 - 2025).

  • Functional mushrooms are used in a wide variety of healthcare and pharmaceutical products. This increases the applicability of these mushrooms in the food and beverage sector. The application of these mushrooms as a functional ingredient in the medical industry is driving the growth of the market, as functional mushrooms are being increasingly incorporated into health supplements.
  • A number of scientific studies have confirmed the ability of functional mushrooms and mushroom-derived supplements to increase the effectiveness of both innate and adaptive immune systems, hence also cure to not get COVID-19, hence increases the market growth of the category.
  • The market studied is expected to experience huge demand for Reishi and Cordyceps, followed by the other types of medicinal mushrooms. Reishi, a traditional Chinese medicine, is also known as the “Elixir of Life”, as well as the “Mushroom of Immortality”.

Scope of the Report

The global 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 geography, the market has been segmented into North America, Europe, Asia-Pacific, and Rest of the World.

By Product Type
Reishi
Cordyceps
Lions Mane
Turkey Tail
Shiitake
Chaga
Other Product Types
By Application
Food and Beverage
Dietary Supplements
Personal Care
Pharmaceutical
By Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
Rest of the World
South America
Middle East & Africa

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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. Maitake and Shiitake are delicious, simply sautéed with garlic

Functional Mushroom Market1

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Asia Pacific holds the Largest Market Share

In the Asian region, China is the largest producer of mushrooms, globally. The country engages in the production of mushrooms and truffles to meet the large external and internal market demands. With the growing income levels of urban and rural Chinese consumers and with the transformation of comprehensive health awareness and consumption concept, consumers across the market are placing more importance on safety, nutrition, and consumption of healthy food with certain medical benefits. The rapid development of the catering industry stimulates the growth of mushrooms in the respective market. Catering channels are one of the crucial channels for mushroom marketing where the staff is continuously working to ensure the standard on food safety, strengthening the consciousness on raw materials’ safety, and environmental protection. techniques of medicinal mushroom and increasing demand for exotic mushroom varieties, the market for functional mushrooms in the region is expected to witness significant growth in the coming years

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Competitive Landscape

The market studied is highly fragmented, with the presence of many small players in the market. Key players, such as Nammex, CNC Exotic Mushrooms, and Mitoku Company, have focused on expansion by increasing the production capacity of mushroom farms. Nammex and Hokkaido Reishi Co. Ltd are the most active companies operating in the functional mushroom market. Product innovation and expansion are the major strategies adopted by the companies in this industry, owing to the rapidly transforming nature of the market. In order to constantly fulfill the increasing demand for these products, expansion and product innovation have become the most followed strategies by key players.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables and Study Assumptions

    2. 1.2 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 Product 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 Product 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 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

        1. 5.3.4.1 South America

        2. 5.3.4.2 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Strategies Adopted by Major Players

    2. 6.2 Marekt Positioning of the Key Players

    3. 6.3 Company Profiles

      1. 6.3.1 Nammex

      2. 6.3.2 Hirano Mushroom LLC

      3. 6.3.3 CNC Exotic Mushrooms

      4. 6.3.4 Mitoku Company Ltd

      5. 6.3.5 Lianfeng (Suizhou) Food Co. Ltd

      6. 6.3.6 Shanghai Finc Bio-tech Inc.

      7. 6.3.7 M2 Ingredients

      8. 6.3.8 Hokkaido Reishi Co. Ltd

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

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

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

The Functional Mushroom Market is growing at a CAGR of 8.04% over the next 5 years.

Europe is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Nammex, CNC Exotic Mushrooms, Mitoku Company Ltd, Hokkaido Reishi Co. Ltd, Hirano Mushroom LLC are the major companies operating in Functional Mushroom Market.

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