The global functional mushroom market was valued at $7,981.2 million in 2020, and is projected to reach $19,331.5 million by 2030, registering a CAGR of 9.3%. Asia-Pacific was the highest revenue contributor, accounting for $3,717.6 million in 2020, with a CAGR of 9.0%
A mushroom is a vegetable with a fleshy fungus that provides nutrients such as vitamins, potassium, and selenium. With sufficient light, humidity, ventilation, temperature, nutrients, pH, and air pressure, mushrooms need a regulated climate.
These types of mushrooms are known to be packed with antioxidants and nutritional value, with a plethora of health claims for each. These mushrooms have been used for hundreds of years due to their medicinal properties and superfood benefits. Their rise in popularity is thanks to the intensive research conducted over the years and the increased demand for natural solutions to health.
The health conscious people prefer low fat and low calorie food. Mushrooms are low in calories and contain high vitamins and nutrients including iron, zinc and fiber. They have little sodium and no fat and cholesterol. A study found that various types of mushrooms such as reishi, button, lion mane, crimini, and portabella, are rich in total dietary fibers. Mushrooms help the body to strengthen itself and fight with the diseases as they contain a large amount of antioxidants. Due to these nutritional properties, the demand of functional mushrooms is going to rise. During the forecast period from 2021 to 2030, this is intended to drive the market growth of functional mushrooms.
Moreover, the application of functional mushroom powder as an ingredient in cosmetics & personal care products has gained high traction. This is due to its exceptional antioxidant, anti-aging, anti-wrinkle, skin whitening, and moisturizing effects, which makes it ideal ingredient for cosmetics products. Hence, several multinational brands are gradually developing and launching personal care products manufactured using functional mushroom as a chief ingredient. However, functional mushroom products are priced higher as compared to its counterparts and hence it can cause hinderance in the functional mushroom market growth.
Owing to the outspread of COVID-19, the functional mushroom market has been largely impacted due to lack of availability of workers, which in turn affected the production capacity. Furthermore, due to closures of wholesale markets, producers had to solely rely on supermarkets and e-commerce traders to market the mushroom products. Hence, the market for functional mushrooms was largely impacted during the pandemic.
According to functional mushroom market analysis, the market is segmented into product type, application, distribution channel, and region. On the basis of product type, the functional mushroom market report is categorized into Reishi, Cordyceps, Lion’s Mane, and others. By application, it is segregated into Food and Beverage, pharmaceutical, nutraceutical & dietary supplements, and personal care & cosmetics.
According to distribution channel, it is divided into supermarket & hypermarket, specialty store, convenience store, and online stores. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, Singapore, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, the UAE, Nigeria, Saudi Arabia, South Africa, and rest of LAMEA).
On the basis of product type, the reishi mushroom segment accounted for the maximum share in the global market in 2020, and is expected to remain dominant during the functional mushroom market forecast period. There has been a trend and substantial growth in developing natural drugs to prevent and treat several immunological diseases over the last decades. The fruiting bodies of reishi mushroom species have gained popularity as dietary supplements in China, Japan, North America, and other regions of the world.
By Product Type
Lion's Mane segment would witness the fastest growth, registering a CAGR of 9.9% during the forecast period.
On the basis of application, the pharmaceutical, nutraceutical & dietary supplements segment accounts to higher value share. Functional mushrooms have highly prized medicinal value, since they contain many chemical constituents with potential nutritional and therapeutic values. The fruiting bodies of mushroom species have gained popularity as dietary supplements in China, Japan, North America, and other regions of the world. Polysaccharides, steroids, and triterpenes as major groups followed by alkaloids, fatty acids, glycoproteins, inorganic elements, lignin, nucleosides, nucleotides, peptides, phenols, proteins, sterols, and vitamins are found in mushrooms
By Application
Food and Beverage Segment witnssed a major growth rate of 9.8%
On the basis of distribution channel, the online stores segment held the significant Functional Mushroom market share in 2020. Specialty stores are on the top list to be considered for growth of functional mushrooms. Specialty stores are famous for their characteristics. Any product is easily available in their specialty stores. So, it can be predicted that specialty stores will have a great impact on the functional mushroom market. Manufacturers are constantly taking efforts to increase the visibility of their products on the shelf and are therefore mainly targeting specialty stores.
By Distribution Channel
Specialty Stores Segment held the major share of 34.5% in 2020
On the basis of region, Asia-Pacific dominated the functional mushroom market in 2020, and accounted for maximum market share. This can be attributed to the tremendous popularity and substantial consumption of functional mushroom products in the region for centuries. Furthermore, China has been the largest producer and consumer of functional mushroom products. However, North America is expected to witness a significant CAGR. Consumers in this region have been more inclined toward health-conscious products which includes functional food & beverages owing to the lifestyle changes. Therefore, there is an increase in the demand for plant-based food supplements.
By Region
North America held the major share of 46.1% in 2020
Key benefits for stakeholders
- The report provides quantitative analysis of the current functional mushroom market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing Functional Mushroom market opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size & segmentation assist to determine the market potential.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the functional mushroom industry.
Functional Mushroom Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By Application |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | OM ORGANIC MUSHROOM NUTRITION., HOKKAIDO REISHI CO., LTD, FOUR SIGMATIC, PAN’S MUSHROOM JERKY, BANKEN CHAMPIGNONS GROEP BV, SOUTH MILL CHAMPS, SWADESHI MUSHROOM SPAWN, YUGUO FARMS, REAL MUSHROOMS, HALF HILL FARM INC |
Analyst Review
In the food industry, mushrooms are the primary target for their multi-functional advantages. They have gained high popularity, owing to their high national value and are expected to be considered under "super foods" in the future. Functional mushrooms are a rich source of protein and have very little or no cholesterol and fat, thus are generally accepted in most regions of the world. One of the key drivers of the functional mushroom market is rise in consumption of processed food worldwide.
Mushroom cultivation, being promising and profitable, is widely adopted by cultivators across the globe. Factors such as R&D and advances to boost acceptability and improve mushroom shelf-life are also expected to drive the functional mushroom market growth in the coming years.
Amidst numerous traditional medicines, Ganoderma (reishi mushroom) has been used in Asian countries for over two millennia as a traditional medicine for maintaining vivacity and longevity. Over the past two decades, the reishi mushroom industry has developed greatly and currently offers a large number of products to the markets.
According to top-level CXOs, increase in prevalence of health issues due to stress and fatigue as a result of the hectic urban lifestyle has increased the demand for calming and stress releasing therapeutic drugs. This is considered as one of the dominant forces driving the demand for functional mushroom market.
The global functional mushroom market was valued at $7,981.2 million in 2020, and is projected to reach $19,331.5 million by 2030, registering a CAGR of 9.3%.
The CAGR of the Functional Mushroom Market is 9.3%.
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The Forecast period in the market report is from 2021-2030.
The top players profiled in the report include Hokkaido Reishi Co., Ltd. (Japan), half hill farm inc, Real Mushrooms, Pan’s Mushroom Jerky, Om Organic Mushroom Nutrition, Yuguo Farms, Four Sigmatic, South Mill Champs, Banken Champignons Groep BV, and Swadeshi Mushroom Spawn.
The segments of Functional Mushroom Market are product type, application, and distribution channel.
Rise in popularity is thanks to the intensive research conducted over the years and the increased demand for natural solutions to health.
Asia-Pacific dominated the functional mushroom market in 2020, and accounted for maximum market share.
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