Global Functional Mushroom Market Revenue Is Set to Increase About $23.3 Billion By 2030

The global Functional Mushroom Market Size Is Likely To Grow At A CAGR Value Of Around 10.1% By 2030

The global functional mushroom market size was evaluated at $15.3 Billion in 2022 and is slated to hit $23.3 Billion by the end of 2030 with a CAGR of nearly 10.1% between 2023 and 2030.

Functional mushrooms are found in healthcare and pharmaceutical products. They are also available in various forms and are nutritive. Apart from this, the product is used as a health supplement by consumers. In addition to this,  these products are low in fats and calories and contain vitamins & nutrients such as fiber, iron, and zinc. Furthermore, functional mushrooms consist of less sodium and no cholesterol and fats. In addition to this, they are enriched with a large number of dietary fibers and consist of a huge proportion of anti-oxidants.

The growth of the global functional mushroom industry over the forecast timeline can be subject to a rise in product penetration in the cosmetic & personal care industry. Apart from this, the launching of new functional mushroom flavors will further contribute to the global market size in the upcoming years. With anti-aging and moisturizing features, the market for functional mushrooms is set to gain traction in the years ahead. Growing consumer demand for protein along with a rise in the retail outlets and shops selling the product has led to massive global functional mushroom market growth. Additionally, the massive use of functional mushrooms in fast foods will expedite business growth. Moreover, changing food habits of the millennial population, youth, and baby boomers have increased the popularity as well as consumption of functional mushroom across the globe.

Nonetheless, the huge costs of functional mushroom products in comparison to their counterparts have caused a negative impact on the growth of the functional mushroom industry across the globe in recent years. Apart from this, disruption in supply chain activities can decimate the growth of the industry in the ensuing years. However, massive penetration of the product across a slew of end-use industries will provide new growth opportunities for the global industry in the upcoming years.

The global functional mushroom market is divided into product, application, and region.

Based on the product, the global functional mushroom market is sectored into lion’s mane, cordyceps, reishi, chaga, and shilitake segments. Furthermore, the shiitake segment is projected to dominate the global market share over the assessment timeframe. The segmental growth in the coming years can be subject to a rise in product demand owing to its nutritive & medicinal benefits. Furthermore, these products enhance the body’s immunity along with promoting cardiovascular health and enhancing energy levels. Apart from this, they find extensive applications in food supplements across the globe.

On basis of the application, the global functional mushroom industry is sectored into food & beverages, food supplements, pharmaceuticals, and personal care segments. The food & beverages segment, which dominated the global functional mushroom industry share in 2022, is set to retain its global industry domination in the ensuing years. The growth of the segment in the forthcoming years can be owing to changing food habits of the customers leading to high demand for functional mushrooms as food. In addition to this, large-scale intake of functional mushrooms in diet owing to its health benefits will steer the segmental surge.

North America is anticipated to lead the global functional mushroom market growth over the projected timeline due to a surge in the intake of mushrooms as superfoods. Apart from this, rising demand for the product in countries such as the U.S. and Canada will contribute majorly towards the regional market expansion in the coming years. Increase in consumer awareness related to improvement in the health of an individual will embellish the regional market growth.  

Furthermore, the functional mushroom industry in the Asia-Pacific region is anticipated to register the fastest CAGR in the ensuing years. The regional market expansion over the forecast timeline can be subject to growing penetration for mushrooms in the countries such as China and India. Apart from this, the huge demand for functional mushrooms in the food & beverages industry in countries such as India and China will proliferate the regional market size.

This review is based on a report by Zion Market Research, titled “Functional Mushroom Market By Application (Food & Beverages, Pharmaceuticals, Food Supplements, and Personal Care), By Product (Lion’s Mane, Reishi, Chaga, Cordyceps, and Shilitake), and By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030.”- Report at https://www.zionmarketresearch.com/report/functional-mushroom-market

Recent Developments:

• In the second half of 2022, Innomy Biotech SL, a key Spanish player producing mushroom-based meat substitutes, declared that it secured USD 1.26 million in its series A funding round for selling its products across Europe. The move is predicted to benefit the expansion of the functional mushroom market across the European continent.  
• In 2021, Marley One, a functional & psychedelic mushroom consumer product, was introduced in partnership with Silo Wellness Inc., a key psychedelics company based in Canada. The initiative is predicted to contribute sizably towards the growth of the functional mushroom business in North America.
• In the third quarter of 2018, Blackmores Limited, a healthcare supplements firm headquartered in Australia, introduced a new kind of medicinal mushroom supplement for enhancing the immune system of the body. The strategic initiative is likely to enhance the expansion of the business across the globe.            

Key participants profiled in the global functional mushroom market include:

• Way of Will Inc.
• Monaghan Group
• Nammex
• M2 Ingredients
• Rebbl
• Mitoku Company
• Hokkaido Reishi Co. Ltd.
• Monterey Mushrooms Inc.
• Lianfeng (Suizhou) Food Co. Ltd.
• Sotru.

The global functional mushroom market is segmented as follows:

By Product

• Lion’s Mane
• Reishi
• Chaga
• Cordyceps
• Shilitake

By Application

• Food & Beverages
• Pharmaceuticals
• Food Supplements
• Personal Care

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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