Global Functional Mushrooms Market Size (2024 - 2029)

The functional mushrooms market is experiencing significant growth, driven by increasing consumer demand for health-oriented products and a shift towards functional foods and beverages. This trend has been accelerated by the COVID-19 pandemic, which has heightened awareness and interest in the health benefits of mushrooms. As urbanization and consumerism lead to a rise in lifestyle-related diseases, there is a growing preference for products that offer additional health benefits beyond basic nutrition. Manufacturers are responding by incorporating functional mushrooms, known for their antioxidant properties and health claims, into their offerings, catering to the demand for low-calorie, high-protein dietary options.

Market Size of Global Functional Mushrooms Industry

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global functional mushroom market
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

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*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.

Functional Mushrooms Industry Segmentation

Functional mushroom specifically refers to varieties that have a health benefit beyond providing nutrition. The global functional mushroom market is segmented into type, application, and geography. Based on type, the market studied is segmented into reishi, cordyceps, lion's mane, turkey tail, shiitake, Chaga, and other types. Based on application, the market is segmented into food and beverage, dietary supplements, personal care, and pharmaceutical. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. For each segment, the market sizing and forecasting have been done in value terms of USD million.

By Type
Reishi
Cordyceps
Lion's Mane
Turkey Tail
Shiitake
Chaga
Other Types
By Application
Food and Beverages
Dietary Supplements
Personal Care
Pharmaceutical
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
Rest of the World
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Global Functional Mushrooms Market Size Summary

The functional mushrooms market is experiencing significant growth, driven by increasing consumer interest in health and wellness. This trend has been accelerated by the COVID-19 pandemic, which has heightened awareness of the health benefits associated with mushrooms. As urbanization and consumerism have led to a rise in lifestyle diseases, there has been a shift towards functional foods and beverages that offer benefits beyond basic nutrition. Manufacturers are incorporating functional mushrooms, known for their antioxidant properties and health claims, into various products to meet the demand for low-calorie, high-protein dietary options. The superfood market, which includes functional mushrooms, is gaining traction as consumers seek natural and nutritious alternatives to processed foods, addressing health issues such as cardiovascular diseases, obesity, and diabetes.

Asia-Pacific stands as the largest producer of mushrooms, with countries like China and India playing pivotal roles in meeting both domestic and international demand. In China, functional mushrooms have been a staple in traditional medicine for centuries, valued for their health benefits. The market is highly competitive, with local and regional players like NAMMEX, Mitoku Company Ltd, and Hokkaido Reishi Co. Ltd leading the charge. These companies are innovating and expanding their product offerings, such as mushroom-infused beverages and custom solutions, to cater to the growing consumer base. The adherence to clean label claims and the incorporation of exotic mushrooms through contract farming are further propelling the market's expansion.

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Global Functional Mushrooms 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 By Type

      1. 2.1.1 Reishi

      2. 2.1.2 Cordyceps

      3. 2.1.3 Lion's Mane

      4. 2.1.4 Turkey Tail

      5. 2.1.5 Shiitake

      6. 2.1.6 Chaga

      7. 2.1.7 Other Types

    2. 2.2 By Application

      1. 2.2.1 Food and Beverages

      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 United Kingdom

        2. 2.3.2.2 Germany

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Russia

        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 Rest of the World

Global Functional Mushrooms Market Size FAQs

The Global Functional Mushrooms Market is projected to register a CAGR of 8.44% during the forecast period (2024-2029)

NAMMEX, Mitoku Company Ltd, M2 Ingredients, Lianfeng (Suizhou) Food Co. Ltd and Hokkaido Reishi Co. Ltd are the major companies operating in the Global Functional Mushrooms Market.

Functional Mushrooms Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)