New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Global consumption of mushroom powder is pegged at 79,756 tons in 2022 and is expected to increase at a CAGR of 6% to reach 142,387 tons by 2032. The Mushroom Powder Market has grown considerably in recent years and is expected to continue to do so going ahead.
The global mushroom powder market is valued at US$ 4.51 Billion in 2022. Revenue from the sales of mushroom powder is expected to reach US$ 8.31 Billion by 2032.
While diets limited to meat, dairy, and eggs were once considered a fad, many customers today, especially millennials, are interested in functional foods, dietary supplements, and plant-based products, which is driving the demand for mushroom powder. Market growth reflects the rising demand for vegan and plant-based meat substitutes, in addition to medicinal modifications.
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The demand for meat substitutes has grown over the past few years due to better-tasting and more readily available products. Due to the exhaustion of traditional plant-based protein sources, including peas, rice, lentils, and other grain proteins, mushrooms have emerged as a distinctive option for both vegans and vegetarians.
Lectins, ribosome inactivating proteins (RIP), fungal immunomodulatory proteins (FIP), ribonucleases, and laccases are the types of mushroom proteins being offered by many food processing companies for use in nutraceutical, personal care, and food applications as a result of the transition to plant-based proteins for food safety, security, and sustainability.
Additionally, the mushroom powder industry is expected to grow as a result of the nutritional value and medicinal properties of edible mushrooms. The immune-modulatory and anticancer properties of lectins play a critical role in improving the therapeutic value of edible mushrooms. Mushroom protein's exceptional quality is a bonus benefit for the market for dietary supplements. The market for mushroom protein is expanding as a result of growing consumer knowledge of novel sources of proteins, such as rice, peas, potatoes, and mushroom protein.
Common edible mushroom species contain 19&-35% protein, which is higher than the proteins found in rice, wheat, milk, and soybeans. High-protein mushrooms and protein powders made from mushrooms are serving as an effective addition to patients' dietary regimens due to their significant health benefits.
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Key Takeaways from Market Study
- Demand for mushroom powder in Latin America is expected to increase at a value CAGR of 5.3% during the forecast period (2023-2032).
- By ingredient type, Ganoderma Lucidum (Reishi) mushroom powder holds the highest market share of 25.3% and is anticipated to increase at a value CAGR of 6%.
- Demand for mushroom powder in the nutraceutical and F&B sectors is expected to rise at 5.9% and 7.2% CAGRs, respectively.
- Based on distribution channel, business to business sales of mushroom powder are set to increase at a CAGR of 6.5%, after having accounted for 74.7% market share in 2022.
“Health benefits associated with edible and medicinal mushrooms is encouraging manufacturers to produce edible mushroom powder and mushroom powder-based products. Demand for mushroom powder is expected to increase in the cosmetics & personal care industry because of its medicinal properties,” says a Persistence Market Research analyst.
Competitive Landscape
- MYCELIUM SONA BIOTECH PRIVATE LIMITED
- Paul E. Stamets and Fungi Perfecti, LLC,
- Om Mushroom Superfood
- Rooted Active Naturals
- Elite Ingredients
- Nammex (North American Medicinal Mushroom Extracts)
- Chitosanlab
- Dr Noel's Mushroom Powder
- Mahogany Organics Pvt. Ltd. and more
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Manufacturers of mushroom powder are investing in research and development and acquiring various quality certifications for manufacturing mushroom powder-based products. They are also using natural resources for growing mushrooms as raw materials.
- Paul E. Stamets and Fungi Perfecti, LLC’s mushroom powder is made with organic mushrooms grown on organic brown rice and is certified by USDA for organic, suitable for vegans and people opting for gluten-free products.
- Mycelium India Biotech provides mushroom powder that is non-GMO, suitable for vegans, gluten-free, and certified by ACO for organic. Its mushrooms are sourced from Australian Mushrooms.
Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global mushroom powder market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights on the basis of
- nature (organic, conventional),
- ingredient type (lentinula edodes shiitake, ganoderma lucidum reishi, inonotus obliquus chaga, hericium erinaceus lion’s mane, ophiocordyceps sinensis cordyceps, others),
- application (food & beverage industry, cosmetics & personal care, foodservice, nutraceuticals, retail/household),
- distribution channel (business to business, business to consumer), across six major regions of the world.
For additional insights on how the growth of the mushroom powder market will shape up over the decade, write to media@persistencemarketresearch.com
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