Functional Mushrooms Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.44 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Functional Mushrooms Market Analysis
The global functional mushroom market was valued at USD 25,415.12 million in 2020, and it projected to reach a CAGR of 8.44% during the forecast period 2021-2026.
The demand for mushroom-based products before COVID-19 has been increasing according to the data from the American Botanical Council's 2019 Herb Market Report. According to the report in the natural channel, sales of supplements containing Reishi increased 13.5% year-on-year, Cordyceps increased 8.2%, and general mushroom increased 33%. Further, concerns surrounding COVID-19 have since steepened that trajectory, and mushrooms are now being brought into the spotlight. They are witnessing accelerated growth patterns and product innovations compared to what may have otherwise occurred.
There has been a considerable shift in people's lifestyle and dietary habits over the past two decades, with urbanization and consumerism driving this shift, leading to a rapid rise in the consumption of synthetic food products, thereby resulting in an increased incidence of lifestyle diseases such as obesity, and diabetes. As a result, consumers have been gravitating towards functional foods and beverages, which manufacturers are promoting as beneficial beyond essential nutrition. These products are purported to provide optimal nutrition and reduce the risk of disease occurrence.
Furthermore, manufacturers are incorporating functional mushrooms, which are packed with antioxidants and nutritional value, with a plethora of health claims for each, into their product offerings to offer dietary options low in calories and high in protein content.
Functional Mushrooms Market Trends
This section covers the major market trends shaping the Functional Mushrooms Market according to our research experts:
Surge in Demand for Superfoods and Clean Products Triggering the Growth of Functional Mushroom
The superfood market is gaining attention among consumers across the globe as interest in healthy living increases in tandem with rising levels of health-related problems such as cardiovascular diseases, prostate cancer, obesity, and diabetes remain major diseases. This is owing to the high consumption of processed foods in this region. As a result, there is a paradigm shift in people's preferences toward healthy/nutritional and natural foodstuffs coined as 'superfoods ' in the countries studied. Thus, an increasing number of food and beverage manufacturers are incorporating superfood ingredients, including functional mushrooms, to capture the ongoing interest of consumers across the globe. For instance: the manufacturers, such as Om Mushroom Superfood, are incorporating functional mushrooms such as reishi, Maitake, turkey tail, Lion's Mane, and others into smoothies, coffee, cooking, and others. The products adhere to clean label claims such as USDA organic, gluten-free, vegan, and kosher certified. Thus, wide health-related functionality and its adherence to clean label/natural claims are accelerating the growth of functional mushrooms across the globe.
Asia-Pacific holds Largest Share
Asia-Pacific is the largest producer of mushrooms, globally. Countries like China engages in the production of mushroom and truffles to meet the large external and internal market demands. It was estimated that more than 25 million farmers in China are currently engaged in the collection, cultivation processing, and marketing of mushrooms. Functional mushrooms have been an integral part of Chinese medicine for over 2,000 years, and they were named for longevity and spirituality. Functional mushroom has been used in China for thousands of years by royal and elite families as a tonic for energy, vitality, endurance, and to support a healthy immune system. Mushroom supplements have been used in China for about 3,000 years. Recently, milky mushroom is gaining popularity in India, as it is forth most largely growing mushroom in the country due to being tropical in nature and an excellent source of vitamin B2, E and A, phosphorus, potassium and calcium. The mushroom is grown commercially in many parts of the country particularly in southern parts of India. This mushroom is most popular in Tamil Nadu. The country also produces a special mushroom called gucchi, which is grown in the valley of Kashmir. The country produces about 25,000 kilos of this variety, of which about 90% is exported, particularly to Japan and Thailand, where they are eaten for their medicinal and aphrodisiacal properties.
Functional Mushrooms Industry Overview
Functional mushroom market is highly compatiatvie with maojrly local and regional players operating in the market. Some of the leadng players are NAMMEX, Mitoku Company Ltd, Lianfeng (Suizhou) Food Co. Ltd, M2 Ingredients, and Hokkaido Reishi Co. Ltd among others. 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. The companies are also modifying their products and offering custom solutions to customers. Whole, sliced, diced, and blanched mushrooms are available according to the purpose in the desired packaging.
Functional Mushrooms Market Leaders
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NAMMEX
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Mitoku Company Ltd
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M2 Ingredients
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Lianfeng (Suizhou) Food Co. Ltd
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Hokkaido Reishi Co. Ltd
*Disclaimer: Major Players sorted in no particular order
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, Lion's Mane, Chaga, Cordyceps, Shiitake, Maitake, Turkey Tail, and others. All the extracts are USDA Organically Certified and Kosher.
In 2018 - Suja Juice partnered with M2 to launch its line of kombucha drinks with different adaptogens, such as M2's reishi mushrooms. The company also plans on expanding its mushroom-infused beverages in the future.
In 2017 - Monterey Mushrooms introduced a new product line called Let's Blend, which is finely diced mushrooms ready to blend with ground meat. Let's Blend is available in an 8-ounce package and three pre-seasoned flavors, namely Classic, Mexican, and Italian.
Functional Mushrooms Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables and Study Assumptions
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 Lion's 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 Beverages
5.2.2 Dietary Supplements
5.2.3 Personal Care
5.2.4 Pharmaceutical
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Russia
5.3.2.6 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Positioning of Players
6.4 Company Profiles
6.4.1 NAMMEX
6.4.2 Hirano Mushroom LLC
6.4.3 Mitoku Company Ltd
6.4.4 Lianfeng (Suizhou) Food Co. Ltd
6.4.5 Monterey Mushrooms Inc.
6.4.6 M2 Ingredients
6.4.7 Fresh Mushroom Europe NV
6.4.8 Mycotrition GmbH
6.4.9 Hokkaido Reishi Co. Ltd
6.4.10 Verhoeckx Paddenstoelen BV
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Functional Mushrooms Industry Segmentation
Functional mushroom specifically refers to varieties that have a health benefit beyond providing nutrition. The global functional mushroom market is segmented into type, application, and geography. Based on type, the market studied is segmented into reishi, cordyceps, lion's mane, turkey tail, shiitake, Chaga, and other types. Based on application, the market is segmented into food and beverage, dietary supplements, personal care, and pharmaceutical. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. For each segment, the market sizing and forecasting have been done in value terms of USD million.
| By Type | |
| Reishi | |
| Cordyceps | |
| Lion's Mane | |
| Turkey Tail | |
| Shiitake | |
| Chaga | |
| Other Types |
| By Application | |
| Food and Beverages | |
| Dietary Supplements | |
| Personal Care | |
| Pharmaceutical |
| Geography | ||||||||
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| Rest of the World |
Functional Mushrooms Market Research FAQs
What is the current Global Functional Mushrooms Market size?
The Global Functional Mushrooms Market is projected to register a CAGR of 8.44% during the forecast period (2024-2029)
Who are the key players in Global Functional Mushrooms Market?
NAMMEX, Mitoku Company Ltd, M2 Ingredients, Lianfeng (Suizhou) Food Co. Ltd and Hokkaido Reishi Co. Ltd are the major companies operating in the Global Functional Mushrooms Market.
Which is the fastest growing region in Global Functional Mushrooms Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Functional Mushrooms Market?
In 2024, the Asia-Pacific accounts for the largest market share in Global Functional Mushrooms Market.
What years does this Global Functional Mushrooms Market cover?
The report covers the Global Functional Mushrooms Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Functional Mushrooms Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Functional Mushrooms Industry Report
Statistics for the 2024 Functional Mushrooms market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. 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.
