Functional Mushroom Market Size (2024 - 2029)

The market size of the Functional Mushroom sector is expected to grow significantly in the coming years. This growth is fueled by expanding consumer knowledge about health and wellness, increased consumption of packaged foods, and the incorporation of nutritive components like functional mushroom extracts or powders into these products. The market for medicinal mushrooms is also growing due to their health benefits and increasing demand for supplements derived from them. The use of these mushrooms in the healthcare, pharmaceutical, and food and beverage industries is driving this growth. Popular functional mushrooms such as Chaga, Reishi, and Cordyceps are expected to see a surge in demand.

Market Size of Functional Mushroom Industry

Functional Mushroom Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 32.41 Billion
Market Size (2029) USD 48.59 Billion
CAGR (2024 - 2029) 8.44 %
Fastest Growing Market Europe
Largest Market Asia Pacific

Major Players

Functional Mushroom Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Functional Mushroom Market Analysis

The Functional Mushroom Market size is estimated at USD 32.41 billion in 2024, and is expected to reach USD 48.59 billion by 2029, growing at a CAGR of 8.44% during the forecast period (2024-2029).

  • With expanding consumer knowledge about preserving general health, a protein-rich diet has gained popularity. Increased packaged food consumption brought on by busy lifestyles will also help the industry expand. Manufacturers of packaged foods are upgrading food products with nutritive components, like functional mushroom extracts or powders, to appeal to a health-conscious customer base. Over the long term, functional mushrooms are expected to be used in various healthcare and pharmaceutical products. Functional mushrooms can fight against the virus and boost immunity.
  • There has been growth in the market for medicinal mushrooms because of their qualities and health advantages. As a result, people are asking for additional supplements derived from useful mushrooms. This increases the applicability of these mushrooms in the food and beverage sector. The application of these mushrooms as functional ingredients in the medical industry is driving the market's growth, as functional mushrooms are being increasingly incorporated into health supplements. Several 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 boosting the category's growth.
  • Chaga, one of the most consumed functional mushrooms, is good for the digestive system and produces immune-modulatory effects. Furthermore, Chaga is expected to experience a huge demand over the forecast period. The market studied is expected to experience huge demand for Reishi and Cordyceps, followed by other medicinal mushrooms.

Functional Mushroom Industry Segmentation

All mushrooms serve a function, whether as food or part of the ecosystem. However, functional mushroom refers to varieties with health benefits beyond providing nutrition.

The global functional mushroom market is segmented into product type, application, and geography. Based on product type, the market is segmented into Reishi, Cordyceps, Lion's Mane, Turkey Tail, Shiitake, Chaga, and other product types. Based on application, the market is segmented into food and beverage, dietary supplements, personal care, and pharmaceutical products. Based on geography, the market is segmented by North America, Europe, Asia-Pacific, South America, the Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

Product Type
Reishi
Cordyceps
Lions Mane
Turkey Tail
Shiitake
Chaga
Other Product Types
Application
Food and Beverage
Dietary Supplements
Personal Care
Pharmaceutical
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
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
Saudi Arabia
Rest of Middle East and Africa

Functional Mushroom Market Size Summary

The Functional Mushroom Market is experiencing significant growth, driven by increasing consumer awareness about the health benefits of a protein-rich diet and the rise in consumption of packaged foods. The market is further propelled by the application of functional mushrooms in the healthcare and pharmaceutical industries. These mushrooms are incorporated into health supplements due to their immune-boosting properties. The demand for specific types of functional mushrooms, such as Chaga, Reishi, and Cordyceps, is also on the rise. Market trends indicate a surge in demand for functional foods and nutraceuticals, largely due to changes in lifestyle and dietary habits. Functional mushrooms, with their therapeutic qualities, are being increasingly used in the medical field and in functional foods. The growth of the functional mushroom market is also driven by technological advances and their use in health supplements. The Asia Pacific region, particularly China, holds the largest market share due to the high production and consumption of mushrooms. The industry is highly competitive, with key players focusing on product innovation and expansion to meet the increasing demand.

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Functional Mushroom Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product Type

      1. 2.1.1 Reishi

      2. 2.1.2 Cordyceps

      3. 2.1.3 Lions Mane

      4. 2.1.4 Turkey Tail

      5. 2.1.5 Shiitake

      6. 2.1.6 Chaga

      7. 2.1.7 Other Product Types

    2. 2.2 Application

      1. 2.2.1 Food and Beverage

      2. 2.2.2 Dietary Supplements

      3. 2.2.3 Personal Care

      4. 2.2.4 Pharmaceutical

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

        4. 2.3.1.4 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Italy

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 South Africa

        2. 2.3.5.2 Saudi Arabia

        3. 2.3.5.3 Rest of Middle East and Africa

Functional Mushroom Market Size FAQs

The Functional Mushroom Market size is expected to reach USD 32.41 billion in 2024 and grow at a CAGR of 8.44% to reach USD 48.59 billion by 2029.

In 2024, the Functional Mushroom Market size is expected to reach USD 32.41 billion.

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