Pune, India, Nov. 22, 2023 (GLOBE NEWSWIRE) -- The global functional mushroom market size was valued at USD 26.54 billion in 2022 and is anticipated to expand from USD 28.69 billion in 2023 to USD 51.87 billion by 2030, exhibiting a CAGR of 8.83% over the estimated period.
Mushrooms consisting of adaptive genetic benefits beyond their nutritional value are known as functional mushrooms. The growth in the functional mushroom industry can be attributed to the increasing awareness about the health benefits associated with specialty mushrooms. Consumers are recognizing the advantages of these mushrooms, contributing to their increased demand.
Fortune Business Insights™ provides this information in its research report, titled “Functional Mushroom Market, 2023-2030”.
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Leading Players Featured in the Functional Mushroom Market Research Report:
- Half Hill Farm Inc. (U.S.)
- Real Mushrooms (Canada)
- Hokkaido Reishi Co. Ltd. (Japan)
- SWADESHI Mushroom Spawn Laboratory (India)
- Nikkei Marketing Limited (Canada)
- Concord Farms (U.S.)
- Rebbl. (U.S.)
- Pan’s Mushroom Jerky (U.S.)
- Mitoku Co. Ltd. (Japan)
- Asia Pacific Farm Enterprises Inc. (Canada)
Report Scope & Segmentation:
| Report Attribute | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 8.83% |
| 2030 Value Projection | USD 51.87 Billion |
| Functional Mushroom Market Size in 2023 | USD 28.69 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Functional Mushroom Market Drivers | Diversified Applications of Mushrooms in the Pharmaceutical and Nutraceutical Industry to Fuel Market Growth |
| Growing Preference for Natural and Organic Products to Augment Market Development |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/functional-mushrooms-market-101511
Segmentation:
Cordyceps Segment to Dominate due to Its Valuable Properties
On the basis of type, the market is fragmented into Chaga mushrooms, Shiitake mushrooms, Reishi mushrooms, Cordyceps mushrooms, Turkey Tail mushrooms, Lion’s Mane mushrooms, and others. The cordyceps segment is touted to maintain its dominance in the global market. This is due to its energy-boosting properties through the production of Adenosine Triphosphate (ATP). This quality appeals to consumers seeking natural ways to boost vitality and stamina, driving segmental growth.
Pharmaceutical Segment to Dominate Owing to Broad Pharmacological Activities
In terms of application, the market is divided into dietary supplements, pharmaceuticals, personal care and cosmetics, and food and beverages. The pharmaceutical segment is likely to lead the market. Functional mushrooms are recognized for their broad spectrum of pharmacological activities, such as antiallergic, antifungal, and anti-inflammatory properties. This extensive range of health benefits makes them attractive for pharmaceutical purposes, supporting segment growth.
In terms of region, the market is categorized into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report gives a comprehensive analysis of the leading factors favoring the industry growth over the coming years. It focuses on key aspects such as product type and leading companies. The report further provides insight into the major trends boosting the global business scenario. The impact of the COVID-19 pandemic on market growth is also included in the report.
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COVID-19 Impact:
Increased Health Awareness Amid Outbreak Prompted Market Progress
The increased awareness of health and immunity, particularly in the wake of the COVID-19 pandemic, drove consumers to seek natural ways to boost their immune systems. Medicinal mushrooms gained recognition for their potential health benefits, leading to increased demand for mushroom-based products.
Drivers and Restraints:
Varied Applications of Functional Mushrooms in the Nutraceutical Sector to Spur Market Growth
The mushroom market is experiencing growth as the nutraceutical and dietary supplements industry recognizes the potential of medicinal mushrooms. These mushrooms are increasingly valued for their health benefits, which drives product demand. Moreover, ongoing research into the bioactive compounds and medicinal properties of mushrooms is actively progressing. This research is leading to the development of innovative drugs and therapeutic treatments, making a significant contribution to the functional mushroom market growth.
However, the high prices associated with medical mushrooms pose a substantial barrier to market growth, potentially restricting access for a wider consumer base.
Regional Insights:
Asia Pacific Market to Dominate Owing to Long-standing Cultural Use of Mushrooms
Asia Pacific is set to dominate the global functional mushroom market share. Long-standing cultural use of mushrooms for well-being, combined with a modern emphasis on health and nutrition due to urbanization, fuels the demand for medical mushrooms in functional foods and supplements, thus promoting market growth.
North America is slated to grow at a high CAGR over the forecast period. Increasing health consciousness among consumers, driven by age-related issues and busy lifestyles, promotes the adoption of a health-focused lifestyle. This leads to a demand for functional supplements with botanical ingredients such as medical mushrooms.
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Competitive Landscape:
Major Players Enter Partnerships to Strengthen their Product Portfolio
Leading functional mushroom manufacturers such as Avida Global are expanding via partnerships and acquisitions. This approach is driven by the goal of increasing their presence in the wider plant-based medicinal products sector and catering to a diverse international market.
Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Market Overview of Related/Parent Market
- Industry SWOT Analysis
- Recent Industry Developments - Policies, Mergers & Acquisitions, and New Product Launches
- Supply Chain/Value Chain Analysis
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities Due to COVID-19
- Global Functional Mushroom Market Analysis, Insights and Forecast, 2023-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Lion’s Mane mushrooms
- Chaga mushrooms
- Shiitake mushrooms
- Reishi mushrooms
- Cordyceps mushrooms
- Turkey Tail mushrooms
- Others
- By Applications (Value)
- Food and Beverages
- Dietary Supplements
- Pharmaceuticals
- Personal Care and Cosmetics
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
- North America Functional Mushroom Market Analysis, Insights and Forecast, 2023-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Lion’s Mane mushrooms
- Chaga mushrooms
- Shiitake mushrooms
- Reishi mushrooms
- Cordyceps mushrooms
- Turkey Tail mushrooms
- Others
- By Applications (Value)
- Food and Beverages
- Dietary Supplements
- Pharmaceuticals
- Personal Care and Cosmetics
- By Country
- U.S.
- Canada
- Mexico
- By Type (Value)
- Europe Functional Mushroom Market Analysis, Insights and Forecast, 2023-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Lion’s Mane mushrooms
- Chaga mushrooms
- Shiitake mushrooms
- Reishi mushrooms
- Cordyceps mushrooms
- Turkey Tail mushrooms
- Others
- By Applications (Value)
- Food and Beverages
- Dietary Supplements
- Pharmaceuticals
- Personal Care and Cosmetics
- By Country
- Germany
- France
- Spain
- Italy
- U.K.
- Rest of Europe
- By Type (Value)
TOC Continued...!
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Key Industry Development:
- March 2023 – Restorative Botanicals, introduced its latest product range of functional mushroom supplements. This new line was designed to promote gut health, improve brain function, enhance the immune system, and contribute to better sleep.
Read Related Insights:
Mushroom Market to Reach USD 24.05 Million by 2028 | Mushroom to Rise at CAGR 6.74%
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