The Global Functional Mushroom Market size is expected to reach $13.6 billion by 2027, rising at a market growth of 8.7% CAGR during the forecast period.
Functional mushrooms, also known as medicinal mushrooms are relatively uncommon mushrooms that grow in dark forests, on fallen logs, or on the Himalayan plateau. These mushrooms are famous for being high in antioxidants and nutritional content, with a variety of health benefits. Because of their medical properties and superfood benefits, these mushrooms have been used for hundreds of years.
The popularity of these mushrooms has increased owing to the extensive study that has accompanied them over the years, as well as the increased demand for natural health remedies. Certain functional mushrooms can help in enhancing immune system, which would enable a person’s body to fight against infections more effectively.
Chaga mushrooms are a powerhouse of antioxidants, making them the strong product in the fight against free radicals and inflammation. It is a dark black mushroom that fights oxidative stress (which has been linked to skin aging), may prevent or reduce cancer growth, and has been proven to reduce LDL or bad cholesterol. The majority of research on chaga has been done on human cells and mice, yet all evidence points to this mushroom being beneficial for human consumption.
There are many people who are increasingly incorporating functional mushrooms in their diet. There are a wide range of functional mushroom products available in the market like mushroom powders. Additionally, searching a high-quality mushroom supplement is the simplest method to enrich a person’s diet. Functional mushroom supplements are not freshly available in supermarkets, but they can be used for a longer period of time in cooking, making smoothies, protein drinks, and teas.
The outbreak of the COVID-19 pandemic has significantly impacted the demand and growth of the functional mushroom market. Since supply chain was severely disrupted owing to the imposition of complete lockdown in many countries, the demand for functional mushroom supplements was declined in the market.
On the other hand, the growing awareness among people regarding the importance of maintaining a good health and better immune system along with the increasing adoption of nutraceuticals and dietary supplements would positively impact the demand for functional mushroom in the recovery phase of the pandemic.
The market for functional mushrooms is growing as the prevalence of cardiovascular disorders rises. Unhealthy diets, cigarette use, and physical inactivity are only a few of the key causes of cardiovascular disease, which elevate blood pressure and blood glucose levels, resulting in overweight and obesity. According to the World Health Organization, heart attacks and strokes account for four out of every five cardiovascular fatalities.
Over the last two decades, people's lifestyles and eating habits have changed dramatically. This transition was fuelled by urbanisation and consumerism, which resulted in a massive rise in the use of synthetic food products, leading to an increase in the incidence of lifestyle diseases. Hence, people are becoming more aware of the issues. As a result, individuals are rapidly moving to functional foods and beverages, which are marketed as providing benefits beyond basic nutrition.
There is an availability of various products and ingredients that are substitute of functional mushrooms and its products. In addition, many people prefer plant-based products who will not readily adopt functional mushroom products. Also, some people are allergic to mushrooms, which would restrict the consumption of functional mushroom products. Along with that, there are many manufacturers who are using different alternatives of functional mushrooms in the manufacturing of their products.
By application, the functional mushroom market is divided into Food and Beverage; Pharmaceutical, nutraceutical & dietary supplements; and Personal Care & Cosmetics. The pharmaceutical, nutraceutical & dietary supplements segment procured the maximum share in the functional mushroom market in 2020. Since functional mushrooms contain various chemical elements with potential nutritional and therapeutic value, they are highly used in various medicinal products. In China, Japan, North America, and other parts of the world, mushroom fruiting bodies have become popular as nutritional supplements.
Based on product type, the functional mushroom market is segmented into Cordyceps, Reishi, Lion’s Mane and others. The reishi mushroom segment acquired the highest share in the functional mushroom market in 2020, and is estimated to maintain its dominance over the forecast period. The growing trend of developing natural drugs in order to protect and cure people with numerous immunological diseases has gained a momentum in the last few years. In addition, reishi mushroom is one of the most popular mushroom used in the making of various dietary supplements.
Based on distribution channel, the functional mushroom market is fragmented into supermarket/hypermarket, specialty stores, online stores, and convenience stores. Specialty stores segment dominated the functional mushroom market in 2020 and is estimated to continue this trend during the forecast period. Specialty stores are among the top places to be consider for growing the penetration of functional mushrooms among consumers. Any type of goods can be found in these specialist shops. As a result, specialised retailers are expected to have a significant impact on the functional mushroom industry.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 7.9 Billion |
| Market size forecast in 2027 | USD 13.6 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 8.7% from 2021 to 2027 |
| Number of Pages | 201 |
| Number of Tables | 368 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Application, Product Type, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the functional mushroom market is analyzed across North America, Europe, Asia Pacific and LAMEA. Asia Pacific emerged as the leading region in the functional mushroom market in 2020 with the highest market share. It is owing to the high popularity of functional mushroom and significant consumption of functional mushroom products across various nations of the region. China is also the world's leading producer and user of functional mushroom products.
Free Valuable Insights: Global Functional Mushroom Market size to reach USD 13.6 Billion by 2027
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
By Product Type
By Distribution Channel
By Geography
The functional mushroom market size is projected to reach USD 13.6 billion by 2027.
Rising prevalence of cardiovascular and chronic diseases are driving the market in coming years, however, availability of numerous alternatives and lack of skilled workforce limited the growth of the market.
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.
Due to the growing awareness among people regarding the importance of maintaining a good health and better immune system along with the increasing adoption of nutraceuticals and dietary supplements would positively impact the demand for functional mushroom in the recovery phase of the pandemic.
The Asia Pacific market dominated the Global Functional Mushroom Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $5,026.1 million by 2027.
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