Asia Pacific Functional Mushrooms Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Asia Pacific Functional Mushrooms Market Analysis
The Asia-Pacific functional mushroom market is projected to register a CAGR of 7.2% during the forecast period (2022- 2027).
Mushrooms that support immune health have benefitted since the start of the pandemic COVID-19, with high interest from food, beverage, and nutritional supplement manufacturers, which has carried over to the entire mushroom category. It has positively impacted the market as there was an increase in demand for medicinal mushrooms due to their health benefits. Human and goods movement restrictions imposed by governments, deglobalization, and breakdown of the supply chain of food markets due to both demand shocks and supply constraints affected the market. Still, the rise in demand for medicinal mushrooms benefitted the market.
The Asia-Pacific functional mushroom market holds the highest market in the world, owing to increased production, consumption, and exports. China is the major revenue contributor to the market studied, as it exports functional mushrooms to other countries, like the United States, the United Kingdom, and Germany, followed by Japan. In the Asian region, REISHI mushrooms are primarily consumed due to their health-enhancing characteristics, such as immunity and longevity, while promoting liver and heart health. Moreover, these mushrooms also function as a sedative on the central nervous system, relieving stress and relaxing the mind and body.
Asia Pacific Functional Mushrooms Market Trends
This section covers the major market trends shaping the APAC Functional Mushroom Market according to our research experts:
Surge In Demand for Functional Food and Dietary Supplements
There has been a considerable shift in the lifestyles and diet habits of people over the past two decades. Urbanization and consumerism drove this shift, leading to a rapid rise in the consumption of synthetic food products, resulting in an increased incidence of lifestyle diseases. Thus, people are becoming aware of these problems. As a result, people are gradually moving toward functional foods and beverages that are promoted as being beneficial beyond basic nutrition. These products are purported to provide optimal nutrition and reduce the risk of disease occurrence.Functional foods are gaining high popularity among health-conscious consumers. During the forecasted period, the demand for medicinal mushrooms is expected to increase significantly, as these mushrooms are being incorporated in various functional food and beverages. For instance, Reishi, Chaga, and Turkey tails are added with coffee and cocoa. Turkey tails are also mild enough to be added to soups and broths. Maitake and Shiitake are delicious, sautéed with garlic. Furthermore, the companies are incorporating functional mushrooms in their product offerings.
India is the Fastest Growing Functional Mushroom Market in the Region
With increasing health awareness, improvisation in the cultivation and extraction techniques of medicinal mushrooms, and increasing demand for exotic mushroom varieties, the market for functional mushrooms in India is expected to witness significant growth in the coming years. Varied agroclimatic conditions, availability of agricultural and industrial wastes, relatively low-cost labor, and a rich fungal biodiversity in India offer great opportunities for cultivating specialty mushrooms commercially. Grey oyster, black oyster, white oyster, pink oyster, king oyster, black ear mushrooms, shimeji mushroom, shiitake mushroom, etc., are the major types of functional mushrooms grown in India. Mushroom cultivation in India is likely to help eliminate protein malnutrition among people primarily dependent on cereals and offer remunerative employment opportunities in the future. The country is expected to focus on the promotion of medicinal mushrooms, like G. lucidum and Grifola frondosa (Maitake), considering their increasing importance in the national and international markets.
Asia Pacific Functional Mushrooms Industry Overview
The market studied is highly competitive, with many small players such as LIANFENG (SUZHOU), FOOD CO. LTD, HOKKAIDO REISHI CO. LTD, Mitoku Company, and others. Product innovation, partnerships, and expansion are the major strategies adopted by the companies in this industry, owing to the rapidly developing nature of the market. To constantly fulfill the increasing demand for products, expansion and product innovation has become the most followed strategies by key players. Certain players are focusing on the cultivation of other exotic and functional mushrooms with the help of contract farming with small manufacturers of these functional mushrooms.
Asia Pacific Functional Mushrooms Market Leaders
-
MITOKU COMPANY LTD
-
HOKKAIDO REISHI CO. LTD
-
Gooda Creek Farm
-
White Prince Mushrooms
-
Swadeshi Fresh and Organic
*Disclaimer: Major Players sorted in no particular order
Asia Pacific Functional Mushrooms Market News
- In 2021, Nammex's state-of-the-art extract facility went online as mushroom demand skyrocketed amid the covid-19 pandemic. The new facility can produce up to 25 tons of mushroom extract powders per month, including Reishi, Chaga, Shittake, Maitake, and others. All the extracts are USDA organically certified and Kosher.
- In January 2021, Yukigini maitake co ltd announced success in developing automation technology for the cutting process of maitake mushrooms together with ROBIT INC, which implements artificial intelligence technologies in robotics to solve various social issues.
- In 2019, Shandong Qihe Biotechnology Co Ltd and Korea modern day company signed an agreement in which Shandong Qihe Biotechnology authorized MODERN-DAY to sell the mushroom spawn in Korea and be responsible for after-sales service. With this agreement, the company could reach the Korean market and expand its market value.
Asia Pacific Functional Mushrooms Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Reishi
5.1.2 Cordyceps
5.1.3 Lions Mane
5.1.4 Turkey Tail
5.1.5 Shiitake
5.1.6 Chaga
5.1.7 Other Types
5.2 By Application
5.2.1 Food and Beverage
5.2.2 Dietary Supplements
5.2.3 Personal Care
5.2.4 Pharmaceutical
5.3 Country
5.3.1 China
5.3.2 Japan
5.3.3 India
5.3.4 Australia
5.3.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 MITOKU COMPANY LTD
6.4.2 LIANFENG (SUIZHOU) FOOD CO. LTD
6.4.3 HOKKAIDO REISHI CO. LTD
6.4.4 SWADESHI MUSHROOM SPAWN
6.4.5 Gooda Creek Farm
6.4.6 WHITE PRINCE MUSHROOMS
6.4.7 YUKIGUNI MAITAKE CO LTD
6.4.8 OJAS FARMS
6.4.9 VLD FOOD PRODUCTS PVT LTD
6.4.10 BIOBRETTE AGRO SOLUTIONS PVT LTD
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Asia Pacific Functional Mushrooms Industry Segmentation
Functional mushrooms are widely acknowledged to have numerous bioactive compounds with functional benefits and tremendous health benefits for the human body, resulting in widespread availability. The Asia-Pacific functional mushroom market (henceforth, referred to as the market studied) is segmented based on product type, application, and geography. The product type is further segmented into Reishi, Cordyceps, Lion's Mane, Turkey Tail, Shiitake, Chaga, and other product types. By application, the market is segmented into food and beverage, dietary supplements, personal care, and pharmaceutical products. Based on country, the market has been segmented into India, China, Japan, Australia, and the Rest of Asia-Pacific. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| By Type | |
| Reishi | |
| Cordyceps | |
| Lions Mane | |
| Turkey Tail | |
| Shiitake | |
| Chaga | |
| Other Types |
| By Application | |
| Food and Beverage | |
| Dietary Supplements | |
| Personal Care | |
| Pharmaceutical |
| Country | |
| China | |
| Japan | |
| India | |
| Australia | |
| Rest of Asia-Pacific |
Asia Pacific Functional Mushrooms Market Research FAQs
What is the current Asia-Pacific Functional Mushroom Market size?
The Asia-Pacific Functional Mushroom Market is projected to register a CAGR of 7.20% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Functional Mushroom Market?
MITOKU COMPANY LTD, HOKKAIDO REISHI CO. LTD , Gooda Creek Farm, White Prince Mushrooms and Swadeshi Fresh and Organic are the major companies operating in the Asia-Pacific Functional Mushroom Market.
What years does this Asia-Pacific Functional Mushroom Market cover?
The report covers the Asia-Pacific Functional Mushroom Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Functional Mushroom Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia Pacific Functional Mushrooms Industry Report
Statistics for the 2024 Asia Pacific Functional Mushrooms market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific Functional Mushrooms analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
