Asia-Pacific Functional Mushroom Market Size (2024 - 2029)

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 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).