Portland, OR, Nov. 15, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global functional mushroom market generated $7.98 billion in 2020, and is estimated to reach $19.33 billion by 2030, witnessing a CAGR of 9.3% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Surge in functional food & beverage product applications, rise in usage of plant-based ingredients in personal care & cosmetics, and increase in health consciousness drive the growth of the global functional mushroom market. However, high prices of the products and low reproducibility hinder the market growth. On the other hand, rise in demand for organic reishi mushroom products and usage of mushrooms as a supplement to meat products present new opportunities in the coming years.
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Covid-19 Scenario:
- Owing to lockdown measures, there have been disruptions in the food & beverages industry. Manufacturing activities hindered and the supply chain disrupted during the Covid-19 pandemic. This impacted the revenue of the functional mushroom market.
- However, supermarkets and wholesale markets were closed due to lockdown measures. This impacted the sales of functional mushrooms. However, the sales volume would grow steadily as the demand for healthy food items increase post-lockdown.
The report offers detailed segmentation of the global functional mushroom market based on product type, application, distribution channel, and region.
Based on product type, the reishi segment accounted for the largest share in 2020, contributing to nearly two-fifths of the total share, and is expected to maintain its leadership status during the forecast period. However, the lion’s mane segment is projected to manifest the largest CAGR of 9.9% from 2021 to 2030.
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Based on application, the pharmaceutical, nutraceutical, & dietary supplements segment held the highest share in 2020, contributing to more than two-fifths of the total share of the global functional mushroom market, and is estimated to maintain its dominance during the forecast period. However, the food & beverages segment is projected to manifest the highest CAGR of 9.8% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the largest share in 2020, holding nearly half of the total share of the global market, and is projected to maintain its lead position during the forecast period. However, North America is expected to register the largest CAGR of 10.0% from 2021 to 2030.
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Leading players of the global functional mushroom market analyzed in the research include Hokkaido Reishi Co., Ltd. (Japan), Real Mushrooms, Half Hill Farm Inc., Om Organic Mushroom Nutrition, Pan’s Mushroom Jerky, Four Sigmatic, Yuguo Farms, South Mill Champs, Banken Champignons Groep BV, and Swadeshi Mushroom Spawn.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
