The global functional mushroom market is thriving with a surge in demand for health-promoting varieties such as reishi, chaga, and lion’s mane. Notably, the rise of veganism adds momentum, as revealed in the 2021 Vegan Society report. A global poll by NSF indicates 88% of food industry professionals foresee a rise in plant-based product demand. Consumers prefer plant-based diets for improved lifestyles (74%) and environmental reasons (60%). This aligns with the functional mushroom market’s growth, meeting the increasing interest in natural and sustainable health solutions worldwide.
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Data Bridge Market Research analyses that the Global Functional Mushroom Market is growing with a CAGR of 6.1% in the forecast period of 2022 to 2029 and is expected to reach USD 6,06,260.80 thousand by 2029 from USD 3,77,516.91 thousand in 2021. Manufacturers are diversifying the functional mushroom market by introducing innovative and convenient products. This expansion aligns with diverse consumer preferences and lifestyles, meeting the demand for accessible and appealing ways to incorporate health-promoting functional mushrooms into daily routines.
Key Findings of the Study
A positive outlook toward organic personal care is expected to drive the market’s growth rate
The positive outlook towards organic personal care is fueled by the myriad benefits of functional mushrooms. These fungi contribute to balanced energy, fortified immune function, improved digestion, and radiant skin. Packed with polyphenols, beta-glucans, and antioxidants, mushrooms support overall well-being. Their abundant dietary fiber promotes healthy digestion and beneficial gut bacteria. Harnessing antioxidant properties, beauty and wellness companies integrate mushrooms such as reishi and lion’s mane into skincare and supplements, responding to the enduring consumer quest for holistic wellness and a vibrant complexion.
Report Scope and Market Segmentation
Report Metric
Details
Forecast Period
2022 to 2029
Base Year
2021
Historic Years
2020 (Customizable to 2014-2019)
Quantitative Units
Revenue in USD Thousand, Volumes in Units, Pricing in USD
Segments Covered
Species (Shiitake, Reishi, Chaga, Lion’s Mane, Cordyceps, Maitake, Turkey Tail, Tremella, Others), Product Type (Cultivated, Wild), Category (Regular, Full Spectrum), Nature (Conventional, Organic), Cultivation Method (Bed Cultivated, Log/Wood Cultivated), Application (Pharmaceutical, Food and Beverages, Dietary Supplements, Nutraceutical, Sports Nutrition, Personal Care, Others)
Countries Covered
Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, and the Rest of Asia-Pacific, Germany, U.K., Italy, France, Spain, Russia, Switzerland, Turkey, Belgium, Netherlands, and the Rest of Europe, South Africa, Saudi Arabia, U.A.E., Kuwait, and Rest of the Middle East and Africa, U.S., Canada, Mexico.
Market Players Covered
YUKIGUNI MAITAKE CO., LTD. (Japan), Monterey Mushrooms, Inc. (U.S.), Monaghan Mushrooms Group (Ireland), Shandong Qihe Biotech Co., Ltd. (China), Banken Champignons Groep BV (Netherlands), The Giorgi Companies, Inc. (U.S.), VLD Food Products Pvt. Ltd. (India), Nammex (Canada), Shogun Maitake (Japan), Rain Forest Mushrooms (U.S.), Wuling (Fuzhou) Biotechnology Co., Ltd. (China), Smithy Mushrooms (U.K.), Lianfeng (Suizhou) Food Co., Ltd (China), Mushroom King Farm (U.S.), Maesyffin Mushrooms (U.K.), Biobritte Agro Solutions Pvt Ltd (India), Ojas Farms (India), Farming Fungi, LLC (U.S.)
Data Points Covered in the Report
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Segment Analysis:
The global functional mushroom market is segmented on the basis of species, product type, category, nature, cultivation method, and application.
On the basis of species, the global functional mushroom market is segmented into shiitake, reishi, chaga, lion’s mane, cordyceps, maitake, turkey tail, tremella, and others
On the basis of product type, the global functional mushroom market is segmented into cultivated and wild
On the basis of category, the global functional mushroom market is segmented into regular, and full spectrum
On the basis of nature, the global functional mushroom market is segmented into conventional, and organic
On the basis of cultivation method, the global functional mushroom market is segmented into bed cultivated, and log/wood cultivated
On the basis of application, the global functional mushroom market is segmented into pharmaceutical, food and beverages, dietary supplements, nutraceutical, sports nutrition, personal care, and others
Major Players
Data Bridge Market Research recognizes the following companies as the major global functional mushroom market players in global functional mushroom market are Shogun Maitake (Japan), Rain Forest Mushrooms (U.S.), Wuling (Fuzhou) Biotechnology Co., Ltd. (China), Smithy Mushrooms (U.K.), Lianfeng (Suizhou) Food Co., Ltd (China), Mushroom King Farm (U.S.), Maesyffin Mushrooms (U.K.), Biobritte Agro Solutions Pvt Ltd (India), Ojas Farms (India)
Market Developments
In 2021, the Monaghan Group unveiled a strategic partnership with Melissa Hemsley to promote vegetarian cuisine. The partnership aims to inspire a broader audience to explore meat-free dishes, leveraging extensive outreach through PR, social media, and digital channels. This initiative is poised to enhance the company’s visibility, engage a wider customer base, and align with the growing demand for plant-based options, solidifying Monaghan Group’s position in the evolving culinary landscape
In 2021, YUKIGUNI MAITAKE CO., LTD., disclosed a collaboration with ROBIT Inc. to pioneer automation technology for maitake mushroom cutting processes. This strategic collaboration enables the development of a cutting-edge cutting and packaging line, showcasing the company’s commitment to innovation. By integrating automation, YUKIGUNI MAITAKE enhances efficiency in mushroom processing, marking a significant step forward in the evolution of their production methods, ultimately contributing to improved productivity and product quality
In 2021, Nammex responded to surging mushroom demand during the COVID-19 pandemic with the launch of its advanced extract facility. This state-of-the-art facility has the capacity to produce 25 tons of mushroom extract powders monthly, featuring varieties such as Reishi, Lion’s Mane, Chaga, Cordyceps, Shiitake, Maitake, Turkey Tail, and more. All extracts from the facility carry USDA Organic Certification and Kosher accreditation, reflecting Nammex’s commitment to quality and meeting diverse consumer preferences
Regional Analysis
Geographically, the countries covered in the global functional mushroom market report are
Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, and the Rest of Asia-Pacific, Germany, U.K., Italy, France, Spain, Russia, Switzerland, Turkey, Belgium, Netherlands, and the Rest of Europe, South Africa, Saudi Arabia, U.A.E., Kuwait, and Rest of the Middle East and Africa, U.S., Canada, Mexico
As per Data Bridge Market Research analysis:
North America is the dominant region in the global functional mushroom market during the forecast period 2022 to 2029
North America dominates the global functional mushroom market, with the U.S. at the forefront. The region’s dominance is attributed to a positive outlook towards organic personal care, presenting significant potential. As consumers increasingly embrace wellness trends, the U.S. market capitalizes on the growing demand for functional mushrooms, especially in the context of skincare and supplements. This trend positions North America as a key player in driving the expansion and adoption of functional mushrooms in various health and beauty applications.
Asia-Pacific is estimated to be the fastest growing region in the global functional mushroom market during the forecast period 2022 to 2029
Asia-Pacific is expected to dominate the global functional mushroom market, with China leading the region. The surge is attributed to a shifting preference towards functional foods. As consumers increasingly prioritize health and wellness, the demand for functional mushrooms is on the rise. China’s prominence in this market reflects a growing awareness and adoption of these mushrooms for their potential health benefits, propelling the Asia-Pacific region to a pivotal position in the global functional mushroom landscape.
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