Market Size of Global Functional Mushrooms Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.44 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Functional Mushrooms Market Analysis
The global functional mushroom market was valued at USD 25,415.12 million in 2020, and it projected to reach a CAGR of 8.44% during the forecast period 2021-2026.
The demand for mushroom-based products before COVID-19 has been increasing according to the data from the American Botanical Council's 2019 Herb Market Report. According to the report in the natural channel, sales of supplements containing Reishi increased 13.5% year-on-year, Cordyceps increased 8.2%, and general mushroom increased 33%. Further, concerns surrounding COVID-19 have since steepened that trajectory, and mushrooms are now being brought into the spotlight. They are witnessing accelerated growth patterns and product innovations compared to what may have otherwise occurred.
There has been a considerable shift in people's lifestyle and dietary habits over the past two decades, with urbanization and consumerism driving this shift, leading to a rapid rise in the consumption of synthetic food products, thereby resulting in an increased incidence of lifestyle diseases such as obesity, and diabetes. As a result, consumers have been gravitating towards functional foods and beverages, which manufacturers are promoting as beneficial beyond essential nutrition. These products are purported to provide optimal nutrition and reduce the risk of disease occurrence.
Furthermore, manufacturers are incorporating functional mushrooms, which are packed with antioxidants and nutritional value, with a plethora of health claims for each, into their product offerings to offer dietary options low in calories and high in protein content.
