Who are the key players in Functional Mushroom Market?

Nammex, CNC Exotic Mushrooms, Mitoku Company Ltd, Hokkaido Reishi Co. Ltd and Hirano Mushroom LLC are the major companies operating in the Functional Mushroom Market. Read More

Which is the fastest growing region in Functional Mushroom Market?

Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Functional Mushroom Market?

In 2024, the Asia Pacific accounts for the largest market share in Functional Mushroom Market. Read More

What years does this Functional Mushroom Market cover, and what was the market size in 2023?

In 2023, the Functional Mushroom Market size was estimated at USD 29.89 billion. The report covers the Functional Mushroom Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Functional Mushroom Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Functional Mushroom Market Size

Market Size of Functional Mushroom Industry

Study Period	2019 - 2029
Market Size (2024)	USD 32.41 Billion
Market Size (2029)	USD 48.59 Billion
CAGR (2024 - 2029)	8.44 %
Fastest Growing Market	Europe
Largest Market	Asia Pacific
Market Concentration	Low
Major Players *Disclaimer: Major Players sorted in no particular order

Functional Mushroom Market Analysis

The Functional Mushroom Market size is estimated at USD 32.41 billion in 2024, and is expected to reach USD 48.59 billion by 2029, growing at a CAGR of 8.44% during the forecast period (2024-2029).

With expanding consumer knowledge about preserving general health, a protein-rich diet has gained popularity. Increased packaged food consumption brought on by busy lifestyles will also help the industry expand. Manufacturers of packaged foods are upgrading food products with nutritive components, like functional mushroom extracts or powders, to appeal to a health-conscious customer base. Over the long term, functional mushrooms are expected to be used in various healthcare and pharmaceutical products. Functional mushrooms can fight against the virus and boost immunity.
There has been growth in the market for medicinal mushrooms because of their qualities and health advantages. As a result, people are asking for additional supplements derived from useful mushrooms. This increases the applicability of these mushrooms in the food and beverage sector. The application of these mushrooms as functional ingredients in the medical industry is driving the market's growth, as functional mushrooms are being increasingly incorporated into health supplements. Several scientific studies have confirmed the ability of functional mushrooms and mushroom-derived supplements to increase the effectiveness of both innate and adaptive immune systems, hence boosting the category's growth.
Chaga, one of the most consumed functional mushrooms, is good for the digestive system and produces immune-modulatory effects. Furthermore, Chaga is expected to experience a huge demand over the forecast period. The market studied is expected to experience huge demand for Reishi and Cordyceps, followed by other medicinal mushrooms.

Functional Mushroom Industry Segmentation

All mushrooms serve a function, whether as food or part of the ecosystem. However, functional mushroom refers to varieties with health benefits beyond providing nutrition.

The global functional mushroom market is segmented into product type, application, and geography. Based on product type, the market is segmented into Reishi, Cordyceps, Lion's Mane, Turkey Tail, Shiitake, Chaga, and other product types. Based on application, the market is segmented into food and beverage, dietary supplements, personal care, and pharmaceutical products. Based on geography, the market is segmented by North America, Europe, Asia-Pacific, South America, the Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

Product Type
		Reishi
		Cordyceps
		Lions Mane
		Turkey Tail
		Shiitake
		Chaga
		Other Product Types

Application
		Food and Beverage
		Dietary Supplements
		Personal Care
		Pharmaceutical

Geography

North America
	United States
	Canada
	Mexico
	Rest of North America

Europe
	Germany
	United Kingdom
	France
	Russia
	Italy
	Rest of Europe

Asia-Pacific
	China
	Japan
	India
	Australia
	Rest of Asia-Pacific

South America
	Brazil
	Argentina
	Rest of South America

Middle East and Africa
	South Africa
	Saudi Arabia
	Rest of Middle East and Africa

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Functional Mushroom Market Size Summary

The medicinal mushroom market is experiencing significant growth, driven by increasing consumer awareness of health benefits and the rising popularity of protein-rich diets. As lifestyles become busier, the demand for packaged foods enriched with functional mushroom extracts is on the rise, appealing to health-conscious consumers. These mushrooms are gaining traction in the healthcare and pharmaceutical sectors due to their immune-boosting properties and ability to combat viruses. The market is seeing a surge in demand for mushrooms like Chaga, Reishi, and Cordyceps, which are being incorporated into various health supplements and functional foods. This trend is further fueled by scientific studies highlighting the health advantages of mushroom-derived supplements, enhancing their appeal in the food and beverage industry.

In regions like Asia, particularly China, the market for functional mushrooms is expanding rapidly due to increased consumer awareness of health and nutrition. As mushrooms gain recognition as superfoods, urban consumers are increasingly opting for these nutrient-dense foods with medical benefits. The competitive landscape of the market is marked by the presence of numerous small players and key companies like Nammex and Hokkaido Reishi Co. Ltd, which are focusing on production capacity expansion and product innovation to meet the growing demand. The market's growth is supported by strategic partnerships and investments, such as Innomy's fundraising for mushroom-based meat substitutes and Psyence Group's collaboration with South African coffee chains to introduce functional mushroom products.

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Functional Mushroom Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Market Drivers
2. 1.2 Market Restraints
3. 1.3 Porter's Five Forces Analysis
  1. 1.3.1 Threat of New Entrants
  2. 1.3.2 Bargaining Power of Buyers/Consumers
  3. 1.3.3 Bargaining Power of Suppliers
  4. 1.3.4 Threat of Substitute Products
  5. 1.3.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION
1. 2.1 Product Type
  1. 2.1.1 Reishi
  2. 2.1.2 Cordyceps
  3. 2.1.3 Lions Mane
  4. 2.1.4 Turkey Tail
  5. 2.1.5 Shiitake
  6. 2.1.6 Chaga
  7. 2.1.7 Other Product Types
2. 2.2 Application
  1. 2.2.1 Food and Beverage
  2. 2.2.2 Dietary Supplements
  3. 2.2.3 Personal Care
  4. 2.2.4 Pharmaceutical
3. 2.3 Geography
  1. 2.3.1 North America
    1. 2.3.1.1 United States
    2. 2.3.1.2 Canada
    3. 2.3.1.3 Mexico
    4. 2.3.1.4 Rest of North America
  2. 2.3.2 Europe
    1. 2.3.2.1 Germany
    2. 2.3.2.2 United Kingdom
    3. 2.3.2.3 France
    4. 2.3.2.4 Russia
    5. 2.3.2.5 Italy
    6. 2.3.2.6 Rest of Europe
  3. 2.3.3 Asia-Pacific
    1. 2.3.3.1 China
    2. 2.3.3.2 Japan
    3. 2.3.3.3 India
    4. 2.3.3.4 Australia
    5. 2.3.3.5 Rest of Asia-Pacific
  4. 2.3.4 South America
    1. 2.3.4.1 Brazil
    2. 2.3.4.2 Argentina
    3. 2.3.4.3 Rest of South America
  5. 2.3.5 Middle East and Africa
    1. 2.3.5.1 South Africa
    2. 2.3.5.2 Saudi Arabia
    3. 2.3.5.3 Rest of Middle East and Africa