Europe Medicinal Mushroom Market Size Report, Share, Industry Analysis, Growth, 2030

Europe Medicinal Mushroom Market

Europe Medicinal Mushroom Market By Therapeutic Application (Antioxidant, Cancer Treatment, Immunity Booster, Antiviral, Cholesterol, Gastrointestinal Conditions, and Others), By Product Type (Inorganic and Organic), By Type (Auricularia, Hericium, Chaga, Cordyceps, and Reishi), and By Region –Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030

Category: Healthcare Report Format : PDF Pages: 207 Report Code: ZMR-8037 Published Date: Feb-2024 Status : Published
Market Size in 2022 Market Forecast in 2030 CAGR (in %) Base Year
USD 10.45 Billion USD 22.68 Billion 10.17% 2022

Europe Medicinal Mushroom Market

Europe Medicinal Mushroom Industry Prospective:

The Europe medicinal mushroom market size was worth around USD 10.45 billion in 2022 and is predicted to grow to around USD 22.68 billion by 2030 with a compound annual growth rate (CAGR) of roughly 10.17% between 2023 and 2030.

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Europe Medicinal Mushroom Market: Overview

The European medicinal mushroom industry refers to the research, commercial sale, and consumption of medicinal mushrooms in European countries. For centuries, medicinal mushrooms, a type of fungi, have been used in the form of what is now known as ‘traditional medicine’. It is known to have several health benefits and hence has been a popular ingredient in ancient medicinal practices. It is known to cure inflammation-related medical concerns. It also acts as an antioxidant and immunity booster. Medicinal mushrooms are primarily cultivated in Asian countries but for several years it has become a popular topic of discussion in the global medical community including European countries.

The demand for medicinal mushrooms in Europe has surged as modern pharmaceutical companies and drug researchers are increasingly taking the assistance of ancient medicine for developing modern drugs and treatment plans. However, more research is required to accurately conclude the positive health impacts of medicinal fungi. During the forecast period, Europe is projected to register an incremental but steady growth rate.

Key Insights:

  • As per the analysis shared by our research analyst, the Europe medicinal mushroom market is estimated to grow annually at a CAGR of around 10.17% over the forecast period (2023-2030)
  • In terms of revenue, the Europe medicinal mushroom market size was valued at around USD 10.45 billion in 2022 and is projected to reach USD 22.68 billion, by 2030.
  • The Europe medicinal mushroom market is projected to grow at a significant rate due to the increasing awareness about the health benefits of medicinal mushrooms
  • Based on therapeutic application segmentation, antioxidant was predicted to show maximum market share in the year 2022
  • Based on type segmentation, reishi was the leading segment in 2022
  • On the basis of region, Germany was the leading revenue generator in 2022

Europe Medicinal Mushroom Market: Growth Drivers

Increasing awareness about the health benefits of medicinal mushrooms may drive market growth

The Europe medicinal mushroom market is projected to grow owing to the increasing awareness about the health benefits of medicinal mushrooms. As per the National Institutes of Health (NIH), it offers an extensive spectrum of pharmaceutical applications. Some of the most widely regarded health benefits include activities such as anti-inflammatory, antifungal, antibacterial, antiviral, antioxidative, anti-depressive, digestive, antidiabetic, and immunomodulating among many others. As awareness about the medical advantages of medicinal mushrooms grows, more investments can be expected toward the exploration of potential benefits.

Furthermore, it is also claimed to have an anticancer effect which is one of the leading reasons for the higher interest of the medical community especially cancer research organizations to conduct an increasing number of research programs and clinical trials. Several countries in the European region have a high number of cancer patients. For instance, Germany is ranked among the top 20 countries with a cancer incidence rate of 281.9. Other European nations with high cancer patients are the United Kingdom and the Netherlands. The growing pressure on the regional healthcare community to deliver efficient cancer treatment plans is projected to help drive the demand for medicinal mushrooms.

Rising investments toward ancient medicine exploration activities may trigger market growth rate

Europe is witnessing a steady rise in investments directed toward the exploration of ancient medicine. In August 2023, the World Health Organization (WHO) announced the world’s first Traditional Medicine Global Summit will take place in India as the global healthcare organization aims to create a fact-based and evidence-based ecosystem to facilitate higher growth in the ancient medicine industry. Such events are encouraging for new companies including players in the Europe medicinal mushroom market.

For instance, in November 2020, KÄÄPÄ Biotech, a Finnish biotechnology startup and the leading commercial producer of medicinal mushrooms, announced the launch of Nordic Mushroom powder and liquid extracts especially for the supplement industry.

Europe Medicinal Mushroom Market: Restraints

Lack of sufficient research and primary dominance of medicinal mushroom in non-European countries may restrict market growth

The Europe medicinal mushroom industry is restricted since medicinal fungi are not culturally or traditionally a part of European ancient medicine. It is primarily grown and used in other parts of the world with higher prevalence in Asian countries such as China. This factor greatly restricts the adoption of medicinal mushrooms in the European region.

In addition to this, the claims associated with medicinal fungi are not sufficiently backed by scientific research. The currently available information is mostly passed through history and ancient medical procedures. This results in a large part of the population considering the effects of medicinal mushrooms merely hearsay.

Europe Medicinal Mushroom Market: Opportunities

Rising regional investments in medical research could deliver exceptional results

The Europe medicinal mushroom market can benefit from the growing regional investments in medical research. Large and emerging drug-developing companies are increasingly investing in new research projects, facilities, and technologies to cater to the medical needs of the general population.

In September 2023, IQVIA, a global leader in the field of technology and advanced analytical solutions, announced a collaboration with three Europe-based medical centers namely Maastricht University Medical Center+ (MUMC+), University Medical Center Utrecht (UMC Utrecht), and Radboud university medical center (Radboudumc). The partnership helped in developing a novel clinical research facility in the Netherlands region.

Rising prices of modern medicines in Europe can prove an excellent opportunity for medicinal mushroom developers and suppliers

Europe is currently witnessing a sharp rise in the inflation rate. The cost of basic needs and expenses is rising rapidly across the region. A similar trend is also observed in the regional healthcare industry. Furthermore, several European nations have witnessed a growing number of strikes held by medical professionals in the last 2 years demanding better and improved pay.

In December 2022, UK medical practitioners initiated round two of nationwide strikes which went on for 5 days. The demands are related to lump-sum payments, staffing levels, and pay. These factors are likely to create an urgent need for reduced healthcare prices without compromising on the efficiency of the medicines and the treatment plan thus prompting higher growth in the Europe medicinal mushroom market.

Europe Medicinal Mushroom Market: Challenges

High reliance on modern medicines for treatment could challenge the market growth rate

The Europe medicinal mushroom industry will be challenged by the extreme prevalence of the healthcare sector that relies heavily on modern medicines. The new-age treatment plans are developed following strict clinical trials and research. They are known to be more efficient backed by evidence and scientific proof thus diminishing the demand for ancient medicines with limited information.

Europe Medicinal Mushroom Market: Segmentation

The Europe medicinal mushroom market is segmented based on therapeutic application, product type, type, and region.

Based on therapeutic application, the market segments are antioxidant, cancer treatment, immunity booster, antiviral, cholesterol, gastrointestinal conditions, and others. In 2022, the highest growth was observed in the antioxidant segment led by the increasing demand for nutraceuticals in the European countries. A recent survey conducted on behalf of Food Supplements Europe across 14 member states of Europe concluded that almost 9 out of 10 respondents have consumed food supplements at least once in their lifetime.

Based on product type, the Europe medicinal mushroom industry is divided into inorganic and organic.

Based on type, the market is divided into auricularia, hericium, chaga, cordyceps, and reishi. In 2022, the highest demand was observed in the reishi segment. The segment dominance is a result of higher awareness and acceptance of the benefits offered by this variant. It helps to improve sleep and reduces stress. Furthermore, it is also known to reduce fatigue and enhance the immune system. The positive results shown by reishi could aid higher segmental growth during the projection period. Reishi mushrooms can be consumed in the quantity of 1400-5400 mg by mouth daily.

Europe Medicinal Mushroom Market: Report Scope

Report Attributes Report Details
Report Name Europe Medicinal Mushroom Market
Market Size in 2022 USD 10.45 Billion
Market Forecast in 2030 USD 22.68 Billion
Growth Rate CAGR of 10.17%
Number of Pages 207
Key Companies Covered Mushroom Science, Nammex, Host Defense, Nature's Way, Four Sigmatic, Oriveda, Terrasoul Superfoods, Biofungi, Real Mushrooms, Gano Excel, New Roots Herbal, Hifas da Terra, Mycology Research Laboratories Ltd., Myriad Mycology, Swanson Health Products, and others.
Segments Covered By Therapeutic Application, By Product Type, By Type, and By Region
Regions Covered Europe, Nordic countries, Benelux Union, and Rest of Europe
Base Year 2022
Historical Year 2017 to 2021
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Europe Medicinal Mushroom Market: Regional Analysis

Germany to lead the regional market growth rate during the projection period

The Europe medicinal mushroom market will be led by Germany during the projection period. The country has numerous players operating in the segment thus providing access to medicinal mushrooms. Furthermore, the rates are equally affordable. The growing investments in Germany's medical research community may aid a higher growth rate.

In 2020, as per official data, more than 107 billion Euros were invested in the country’s research & development programs. Spain is a steady contributor to regional revenue. The country is home to one of the leading commercial producers of supplements made of medicinal mushrooms under the brand name Hifas da Terra. The growing number of cancer patients as well as rising demand for efficient antioxidants in the regional market will aid market expansion during the forecast period.

In July 2023, the French government announced that it would launch new initiatives and reform measures to strengthen the biomedical research infrastructure in the country. In May 2022, London announced the launch of Europe’s first facility meant for psychedelic drug trials. The facility is owned by Clerkenwell Health.

Europe Medicinal Mushroom Market: Competitive Analysis

The Europe medicinal mushroom market is led by players like:

  • Mushroom Science
  • Nammex
  • Host Defense
  • Nature's Way
  • Four Sigmatic
  • Oriveda
  • Terrasoul Superfoods
  • Biofungi
  • Real Mushrooms
  • Gano Excel
  • New Roots Herbal
  • Hifas da Terra
  • Mycology Research Laboratories Ltd.
  • Myriad Mycology
  • Swanson Health Products

The Europe medicinal mushroom market is segmented as follows:

By Therapeutic Application

  • Antioxidant
  • Cancer Treatment
  • Immunity Booster
  • Antiviral
  • Cholesterol
  • Gastrointestinal Conditions Auricularia
  • Others

By Product Type

  • Inorganic
  • Organic

By Type

  • Auricularia
  • Hericium
  • Chaga
  • Cordyceps
  • Reishi

By Region

  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe

Table Of Content

Methodology

FrequentlyAsked Questions

The European medicinal mushroom industry refers to the research, commercial sale, and consumption of medicinal mushrooms in European countries.

The Europe medicinal mushroom market is projected to grow owing to the increasing awareness about the health benefits of medicinal mushrooms.

According to study, the Europe medicinal mushroom market size was worth around USD 10.45 billion in 2022 and is predicted to grow to around USD 22.68 billion by 2030.

The CAGR value of Europe medicinal mushroom market is expected to be around 10.17% during 2023-2030.

The Europe medicinal mushroom market will be led by Germany during the projection period.

The Europe medicinal mushroom market is led by players like Mushroom Science, Nammex, Host Defense, Nature's Way, Four Sigmatic, Oriveda, Terrasoul Superfoods, Biofungi, Real Mushrooms, Gano Excel, New Roots Herbal, Hifas da Terra, Mycology Research Laboratories Ltd., Myriad Mycology, and Swanson Health Products among others.

The report explores crucial aspects of the Europe medicinal mushroom market including detailed discussion of existing growth factors and restraints while also browsing future growth opportunities and challenges that impact the market.

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