Farmington, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The Global Functional Mushroom Market Size Was Valued At USD 26.7 Billion In 2022 And Is Expected To Expand at a CAGR Of 10.8% From 2023 To 2030. Mushrooms that are good for your health are used in a wide range of medicines and drugs. This makes it easier for food and drink companies to use these mushrooms. Most of the growth of the market is due to the fact that these mushrooms are used in the medical field. In health supplements, functional mushrooms are used a lot.
After Reishi and Cordyceps, the market is likely to see a lot of demand for other types of medicinal mushrooms. Reishi is a popular Chinese medicine that is also called the "Elixir of Life" and the "Mushroom of Immortality." But the growth of the market will be slowed by some problems and problems that can't be solved. Since they can't be used in other recipes, the market growth is likely to be limited.
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Recent Developments:
- In February 2022, Optimi Health Corp. launched functional mushroom supplements targeting new and functional psychedelic compounds to Canadian consumers in the health and wellness sector. The supplement is made from the highest quality fruiting body mushroom preparations for mind and body optimization.
- In June 2021, Marley One features Lion's Mane, Cordyceps, Reishi, Chaga, and Turkey Tail.
Segment Overview
Product Insights:
Based on the product, the market is divided into Reishi, Cordyceps, Lion's Mane, Shiitake, Chaga, Turkey Tail, and Others. Shiitake mushrooms can only be found in East Asia. They are most popular in China, Japan, and Korea. Because they were good for your health, they were first called medicinal mushrooms. These mushrooms are used a lot in the food industry because of their rich texture and smoky flavour. They also became very popular because they could be used in so many ways to make food and medicine.
Application Insights:
Based on how it is used, the market is divided into Food Service, Personal Care, Pharmaceutical, and Others. Mushrooms are used in many different ways in the food industry and in medicine, so it's likely that they have the biggest market share. They help people lose weight, keep their hearts healthy, fight cancer cells, get more energy, improve brain function, reduce inflammation, and boost their immune systems. Because of all of these things, they are used a lot in the pharma industry.
Regional Outlook:
During the projected time period, North America is expected to have the fastest growth rate of more than 11.5%. This is because these mushrooms are becoming better known as "superfoods." Functional mushrooms are becoming more popular in places that are already developed because they are better than many other healthy foods. Also, the region will grow faster if more people care about their health and well-being as a whole.
In North America, more and more people want to eat a vegan diet, which is also expected to increase demand for functional mushrooms. In 2021, Asia-Pacific was the most important place because that's where most mushrooms were grown. One of the most important things that drove the regional market was the high demand for these mushrooms as possible health foods. In the food and drink business in the Asia-Pacific area, functional mushrooms are also in high demand. This is because these mushrooms are becoming more popular as a healthy food choice.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 10.8% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 26.7 Billion |
| By Product | Reishi, Cordyceps, Lion’s Mane, Shiitake, Chaga, Turkey Tail, Others |
| By Application | Food Service, Personal Care, Pharmaceutical, Others |
| By Companies | 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 |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Driver:
The number of people who want functional foods and dietary supplements is going up.
In the last 20 years, people's eating habits and the way they live their lives have changed a lot. This trend was caused by urbanisation and consumerism, which led to a sharp rise in the number of people who eat processed foods and an increase in the number of people who have lifestyle diseases. Functional foods and drinks, which are marketed as having more benefits than just being healthy, are slowly gaining popularity among consumers. People say that these foods give the best nutrition and make it less likely that someone will get sick. People who care about their health are eating more and more meals that are good for them.
Restraint:
Functional mushrooms are expensive, and most people don't care much about them.
The price has gone up a lot because the Chinese haven't been able to grow this fungus well for many years. Because of this, the same amount of wild cordyceps Sinensis was in higher demand. China only learned a few years ago how to grow this mushroom. The price of wild cordyceps Sinensis hasn't changed yet because it hasn't reached a level of production. Also, because functional mushrooms are hard to find in many parts of the world, online stores like Amazon sell a functional mushroom extract powder made from the Cordyceps Mushroom for up to USD 91 for 60g. This thing is called Real Mushrooms Cordyceps Mushroom Extract Powder.
Opportunity:
Why functional mushrooms are good for your health
Proponents of the functional mushroom trend point out that there are expected benefits, such as anti-inflammatory properties that can help people with a wide range of medical conditions that cause inflammation and the presence of substances like antioxidants that can help improve blood flow. Even though each functional mushroom has its own health benefits, they all help keep your energy up, boost your immune system, make digestion easier, and bring out your natural glow. For example, antioxidants improve blood flow, lower stress, boost the immune system, and do many other things that make functional mushrooms popular all over the world.
Key Segments Covered:
Top Market Players:
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, and others.
By Product
- Reishi
- Cordyceps
- Lion’s Mane
- Shiitake
- Chaga
- Turkey Tail
- Others
By Application
- Food Service
- Personal Care
- Pharmaceutical
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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