Functional Mushroom Market Size to Exceed USD 23.3 Billion by 2030 with 10.1% CAGR | In-depth Analysis, Global Market Share, Size, Industry Trends & Forecast 2023-2030

Houston, TX, April 20, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Functional Mushroom Market By Application (Food & Beverages, Pharmaceuticals, Food Supplements, And Personal Care), By Product (Lion’s Mane, Reishi, Chaga, Cordyceps, And Shilitake), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Functional Mushroom Market size & share in terms of revenue was valued at USD 15.3 Billion in 2022 and it is expected to surpass around USD 23.3 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 10.1% during the forecast period 2023 to 2030.”

What is Functional Mushroom? How big is the Functional Mushroom Industry?

Functional Mushroom Report Coverage & Overview:

Functional mushrooms are found in healthcare and pharmaceutical products. They are also available in various forms and are nutritive. Apart from this, the product is used as a health supplement by consumers. In addition to this, these products are low in fats and calories and contain vitamins & nutrients such as fiber, iron, and zinc. Furthermore, functional mushrooms consist of less sodium and no cholesterol and fats. In addition to this, they are enriched with a large number of dietary fibers and consist of a huge proportion of anti-oxidants.

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• Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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• Provide detailed chapter-by-chapter guidance on Request
• Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
• Includes Tables and figures have been updated
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• Zion Market Research research methodology

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Global Functional Mushroom Market: Growth Dynamics

The growth of the global functional mushroom industry over the forecast timeline can be subject to a rise in product penetration in the cosmetic & personal care industry. Apart from this, the launching of new functional mushroom flavors will further contribute to the global market size in the upcoming years. With anti-aging and moisturizing features, the market for functional mushrooms is set to gain traction in the years ahead. Growing consumer demand for protein along with a rise in the retail outlets and shops selling the product has led to massive global functional mushroom market growth. Additionally, the massive use of functional mushrooms in fast foods will expedite business growth. Moreover, changing food habits of the millennial population, youth, and baby boomers have increased the popularity as well as consumption of functional mushroom across the globe.

Nonetheless, the huge costs of functional mushroom products in comparison to their counterparts have caused a negative impact on the growth of the functional mushroom industry across the globe in recent years. Apart from this, disruption in supply chain activities can decimate the growth of the industry in the ensuing years. However, massive penetration of the product across a slew of end-use industries will provide new growth opportunities for the global industry in the upcoming years.

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Report Scope

Functional Mushroom Market: Segmentation Analysis

The global functional mushroom market is divided into product, application, and region.

Based on the product, the global functional mushroom market is sectored into lion’s mane, cordyceps, reishi, chaga, and shilitake segments. Furthermore, the shiitake segment is projected to dominate the global market share over the assessment timeframe. The segmental growth in the coming years can be subject to a rise in product demand owing to its nutritive & medicinal benefits. Furthermore, these products enhance the body’s immunity along with promoting cardiovascular health and enhancing energy levels. Apart from this, they find extensive applications in food supplements across the globe.

On basis of the application, the global functional mushroom industry is sectored into food & beverages, food supplements, pharmaceuticals, and personal care segments. The food & beverages segment, which dominated the global functional mushroom industry share in 2022, is set to retain its global industry domination in the ensuing years. The growth of the segment in the forthcoming years can be owing to changing food habits of the customers leading to high demand for functional mushrooms as food. In addition to this, large-scale intake of functional mushrooms in diet owing to its health benefits will steer the segmental surge.

The global Functional Mushroom market is segmented as follows:

By Product

• Lion’s Mane
• Reishi
• Chaga
• Cordyceps
• Shilitake

By Application

• Food & Beverages
• Pharmaceuticals
• Food Supplements
• Personal Care

Browse the full “Functional Mushroom Market By Application (Food & Beverages, Pharmaceuticals, Food Supplements, And Personal Care), By Product (Lion’s Mane, Reishi, Chaga, Cordyceps, And Shilitake), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/functional-mushroom-market

Competitive Landscape

Some of the main competitors dominating the global Functional Mushroom market include - 

• Way of Will Inc
• Monaghan Group
• Nammex
• M2 Ingredients
• Rebbl
• Mitoku Company
• Hokkaido Reishi Co. Ltd.
• Monterey Mushrooms Inc.
• Lianfeng (Suizhou) Food Co. Ltd.
• Sotru

Key Insights from Primary Research:

• As per the analysis shared by our research analyst, the global functional mushroom market is projected to expand annually at the annual growth rate of around 10.1% over the forecast timespan (2023-2030)
• In terms of revenue, the global functional mushroom market was evaluated at nearly $15.3 billion in 2022 and is expected to reach $23.3 billion by 2030.
• The functional mushroom industry is anticipated to record massive growth over the forecast period owing to favorable government policies pertaining to huge investments in the health-conscious diet.
• Based on product, the reishi segment is predicted to register massive growth over the forecast timeline.
• In terms of application, the food & beverages segment is slated to dominate the segmental surge over 2023-2030.
• Region-wise, the Asia-Pacific functional mushroom market is projected to register the highest CAGR during the assessment period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Functional Mushroom industry?
• What are the main driving factors propelling the Functional Mushroom Market forward?
• What are the leading companies in the Functional Mushroom Industry?
• What segments does the Functional Mushroom Market cover?
• How can I receive a free copy of the Functional Mushroom Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis by Product, by Application, and by Geography
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America is anticipated to lead the global functional mushroom market growth over the projected timeline due to a surge in the intake of mushrooms as superfoods. Apart from this, rising demand for the product in countries such as the U.S. and Canada will contribute majorly towards the regional market expansion in the coming years. Increase in consumer awareness related to improvement in the health of an individual will embellish the regional market growth.

Furthermore, the functional mushroom industry in the Asia-Pacific region is anticipated to register the fastest CAGR in the ensuing years. The regional market expansion over the forecast timeline can be subject to growing penetration for mushrooms in the countries such as China and India. Apart from this, the huge demand for functional mushrooms in the food & beverages industry in countries such as India and China will proliferate the regional market size.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

In the second half of 2022, Innomy Biotech SL, a key Spanish player producing mushroom-based meat substitutes, declared that it secured USD 1.26 million in its series A funding round for selling its products across Europe. The move is predicted to benefit the expansion of the functional mushroom market across the European continent.

In 2021, Marley One, a functional & psychedelic mushroom consumer product, was introduced in partnership with Silo Wellness Inc., a key psychedelics company based in Canada. The initiative is predicted to contribute sizably towards the growth of the functional mushroom business in North America.

In the third quarter of 2018, Blackmores Limited, a healthcare supplements firm headquartered in Australia, introduced a new kind of medicinal mushroom supplement for enhancing the immune system of the body. The strategic initiative is likely to enhance the expansion of the business across the globe.

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FREQUENTLY ASKED QUESTIONS

• What is Functional Mushroom?
• Which key factors will influence global functional mushroom market growth over 2023-2030?
• What will be the value of the global functional mushroom market during 2023-2030?
• What will be the CAGR value of the global functional mushroom market during 2023-2030?
• Which region will record the highest growth in the functional mushroom industry globally?
• Which are the major players leveraging the global functional mushroom market growth?

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