The Asia Pacific Functional Mushroom Market would witness market growth of 8.8% CAGR during the forecast period (2021-2027).
Functional mushrooms are easy to incorporate into the daily routine because of their versatility. Functional mushrooms are not really the same as the mushrooms a person finds in the supermarket. While some species, such as lion's mane and shiitake, are appetizing as gourmet mushrooms, others may be less edible in their raw state. They are offered in a variety of forms, including powder, tincture, and extract, and are commonly used as nutritional supplements.
The use of functional mushroom powder as an ingredient in cosmetics and personal care products is gaining popularity. This is due to its outstanding antioxidant, anti-aging, anti-wrinkle, skin brightening, and moisturising properties, making it a perfect cosmetic ingredient. As a result, a number of international businesses are increasingly developing and introducing personal care products with functional mushroom as a key ingredient.
As per NABARD, China has been the world's biggest mushroom grower, accounting for 46% of overall production, or over half of all mushroom production. Since the Chinese Association of Edible Fungi covers all mushrooms, the Chinese authorities estimate that the production of mushroom would increase substantially in the coming years. In addition, China uses 95% of its domestic mushroom production on the home market, with only 5% of it accessible for export, with around half of that going to Asian countries.
The China market dominated the Asia Pacific Functional Mushroom Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,410.6 million by 2027. The Japan market is anticipated to grow a CAGR of 8.1% during (2021 - 2027). Additionally, The India market would experience a CAGR of 9.4% during (2021 - 2027).
Based on Application, the market is segmented into Pharmaceutical, nutraceutical & dietary supplements; Food & Beverage and Personal Care & Cosmetics. Based on Product Type, the market is segmented into Reishi, Cordyceps, Lion’s Mane and Others. Based on Distribution Channel, the market is segmented into Specialty Stores, Supermarkets & Hypermarkets, Online Distribution Channel and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Functional Mushroom Market is Projected to reach USD 13.6 Billion by 2027, at a CAGR of 8.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hokkaido Reishi Co. Ltd., Real Mushrooms, Pan's Mushroom Jerky, Om Mushroom Superfood, Four Sigmatic, Banken Champignons B.V., South Mill Mushrooms Sales, Inc. (The Mushroom Company), and Half Hill Farm, Inc.
By Application
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