Functional Mushroom Market Size to Reach USD 51.87 Billion by 2030 | Exclusive Report by Fortune Business Insights™
Fortune Business Insights
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Key companies covered in functional mushroom market are 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) and more players profiled.
Functional Mushroom Market
Functional Mushroom Market Size
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”.
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.
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.
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
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
Europe Functional Mushroom Market Analysis, Insights and Forecast, 2023-2030
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.
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