NEWARK, Del, June 02, 2023 (GLOBE NEWSWIRE) -- The global functional mushroom market value was figured out to be around US$ 9,324.7 Million in 2022. FMI anticipates it to grow at an annual rate of 9% from 2023 to 2033. It further predicts the overall valuation to reach US$ 22,023.8 Million by the end of this forecast period.
Due to the recent surge in the use of functional mushrooms in regular diets as a nutritious food alternative, the growth prospects for the market remain positive. Demand for functional mushrooms globally is also predicted to increase as vegan diets become more popular among the younger generations. Additionally, the expansion of the industry could be supported by greater consumer awareness about its properties of preserving overall health and well-being.
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Because most mushrooms are farmed in tropical regions, the Asia Pacific countries are expected to witness higher growth during the forecast years. It can be linked to an increase in interest in functional mushrooms as superfoods strengthening food security in developing countries. Also, their use as a superior substitute for many other nutrient-dense meals, they are becoming more and more popular in developed regions as well.
Other important considerations include the growing urban population and rising spending on functionally enhanced foods. The demand for functional mushrooms in Germany is higher than in other European countries owing to its extensive food and beverages industries.
Key Takeaways from this Report:
- Based on geographic regions, the sales of functional mushrooms in the United States constituted 16.4% of the global revenue in 2022.
- The overall demand for functional mushrooms in Germany generated a global revenue share of around 6.6% as per the 2022 records. Meanwhile, the United Kingdom is anticipated to increase at a higher rate of nearly 5.9% through 2033.
- Japan is the leading country in the Asia Pacific region and it held a global market share of around 7.3% in the year 2022. On the other hand, China is expected to overtake it soon by capturing a 4.5% CAGR between the years 2023 and 2033.
- The production of functional mushrooms in India is anticipated to increase at the quickest rate of nearly 8.9% during the anticipated period.
- Back in the year 2022, the organic segment led the global market in terms of nature and was responsible for a revenue share of more than 21.3%.
- The powdered product segment led the market and was responsible for a revenue share of nearly 23.7% in the year 2022. This was brought on by the product's increased popularity due to its higher storage and transport feasibility.
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Competitive Landscape:
- Hokkaido Reishi Co., Ltd.
- Om Mushrooms
- Rainbo
- Nammex
- Half Hill Farm Inc.
- Marley One
- Optimi Health Corp.
- Wuling (Fuzhou) Biotechnology Co., Ltd.
- Landish Foods
- Functional Mushrooms
- Hekate
- Others
The Marley Company introduced the Marley One psychedelic and functional mushroom consumer brand in June 2021 in collaboration with Silo Wellness Incorporation. Silo Wellness is a significant Toronto-based psychedelic business working on enhancing immunity and supporting gastrointestinal health and cognitive function. The first product line contains a range of tinctures made from functional mushrooms, such as lion's mane, cordyceps, reishi, turkey tail, and Chaga.
Key Segmentation:
By Nature:
- Organic
- Conventional
By Product Species:
- Reishi
- Shiitake
- Lion's Mane
- Chaga
- Maitake
- Cordyceps
- Tremella
- Turkey Tail
- Enokitake
- Oyster Mushrooms
- Others
By Form:
- Liquid Sprays and Drinks
- Powders
- Capsules or Supplements
- Others
By Application:
- Food & Beverages
- Nutraceuticals & Dietary Supplements
- Pharmaceutical
- Sports Nutrition and Functional Items
- Cosmetics & Personal Care
- Pet Care Industry
- Other Applications
By Region:
- North America Market
- Latin America Market
- Europe Market
- East Asia Market
- South Asia Market
- Oceania Market
- The Middle East & Africa (ME&A) Market
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Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and Their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyers
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Nature
Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-14440
Explore FMI’s related ongoing Coverage in Food and Beverage Domain:
Dried Mushroom Market Size: The global market for dried mushrooms is anticipated to grow at a CAGR of 4.4% over the course of the estimated period, according to a report by Future Market Insights. The market is expected to be worth US$ 21.8 billion in 2032 as opposed to US$ 14.1 billion in 2022, according to forecasts.
Mushroom Fermenter Market Share: The global mushroom fermenter market is estimated at US$ 1.4 Billion in 2022 and is projected to reach US$ 2.4 Billion by 2032, exhibiting a CAGR of 5.6% from 2022 to 2032.
Mushroom Beer Market Trends: The mushroom beer market is estimated to secure a valuation of US$ 1.3 billion in 2023 and is estimated to rise to US$ 2.2 billion by 2033. The market is anticipated at a CAGR of 5.4% during the forecast period.
Canned Mushroom Market Growth: The global canned mushroom market is expected to reach a market valuation of US$ 8.7 Billion by the year 2022, accelerating with a CAGR of 4.9% by 2022 to 2032.
Chaga Mushroom-Based Products Market Forecast: The chaga mushroom-based products market size is estimated to be valued at US$ 28.72 billion in 2023 and surpass US$ 81.55 billion by 2033. The market is estimated to witness a significant CAGR of 11% during the forecast period.
Functional Beverages Market Types: The functional beverages market is projected to record a CAGR of 6% from 2022 to 2032.
Functional Water Market Analysis: The functional water market is estimated to expand at a 6.2% CAGR from 2023 to 2033, from US$ 15,234.39 million in 2023 to US$ 27,281.72 million in 2033.
Functional Flavour Market Outlook: The market for Functional Flavour is anticipated to expand at a CAGR of 3.9% over the forecasted time period. According to projections, the industry would be worth US$ 22.3 Billion by 2032, up from US$ 15.2 Billion in 2022.
Functional Dairy Products Market Overview: The global functional dairy products market size reached a valuation of US$ 42.2 Billion in 2022. The market is projected to exhibit growth at a CAGR of 4.3% from 2022 to 2032. It is likely to reach US$ 64.3 Billion by the end of 2032.
Functional Foods and Natural Health Products Market Demand: The global functional food and natural health products market size was valued at US$ 22.4 billion in 2022, and it is expected to grow at a CAGR of 5.1% from 2022-2032. The market is expected to reach a valuation of US$ 37.5 billion by 2032.
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Source: Functional Mushroom Market Sales to Reach a Value of US$ 22.3 Bn by 2032 - Comprehensive Research Report by FMI
