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

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.

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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

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