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Functional Mushroom Market Size (2024 - 2029)

The medicinal mushroom market is experiencing significant growth due to increasing consumer awareness of health benefits and the rising popularity of protein-rich diets. This expansion is further fueled by the incorporation of functional mushroom extracts in packaged foods, catering to health-conscious consumers. The versatility of medicinal mushrooms in healthcare and pharmaceutical applications is driving their demand, particularly in health supplements. Scientific studies supporting the immune-boosting properties of these mushrooms are contributing to their market growth. Chaga, Reishi, and Cordyceps are among the most sought-after varieties, reflecting the growing market size and potential for further expansion.

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Market Size of Functional Mushroom Industry

Functional Mushroom Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 32.41 Billion
Market Size (2029) USD 48.59 Billion
CAGR (2024 - 2029) 8.44 %
Fastest Growing Market Europe
Largest Market Asia Pacific
Market Concentration Low

Major Players

Functional Mushroom Market Major Players

*Disclaimer: Major Players sorted in no particular order

Functional Mushroom Market Analysis

The Functional Mushroom Market size is estimated at USD 32.41 billion in 2024, and is expected to reach USD 48.59 billion by 2029, growing at a CAGR of 8.44% during the forecast period (2024-2029).

  • With expanding consumer knowledge about preserving general health, a protein-rich diet has gained popularity. Increased packaged food consumption brought on by busy lifestyles will also help the industry expand. Manufacturers of packaged foods are upgrading food products with nutritive components, like functional mushroom extracts or powders, to appeal to a health-conscious customer base. Over the long term, functional mushrooms are expected to be used in various healthcare and pharmaceutical products. Functional mushrooms can fight against the virus and boost immunity.
  • There has been growth in the market for medicinal mushrooms because of their qualities and health advantages. As a result, people are asking for additional supplements derived from useful mushrooms. This increases the applicability of these mushrooms in the food and beverage sector. The application of these mushrooms as functional ingredients in the medical industry is driving the market's growth, as functional mushrooms are being increasingly incorporated into health supplements. Several scientific studies have confirmed the ability of functional mushrooms and mushroom-derived supplements to increase the effectiveness of both innate and adaptive immune systems, hence boosting the category's growth.
  • Chaga, one of the most consumed functional mushrooms, is good for the digestive system and produces immune-modulatory effects. Furthermore, Chaga is expected to experience a huge demand over the forecast period. The market studied is expected to experience huge demand for Reishi and Cordyceps, followed by other medicinal mushrooms.

Functional Mushroom Industry Segmentation

All mushrooms serve a function, whether as food or part of the ecosystem. However, functional mushroom refers to varieties with health benefits beyond providing nutrition.

The global functional mushroom market is segmented into product type, application, and geography. Based on product type, the market is segmented into Reishi, Cordyceps, Lion's Mane, Turkey Tail, Shiitake, Chaga, and other product types. Based on application, the market is segmented into food and beverage, dietary supplements, personal care, and pharmaceutical products. Based on geography, the market is segmented by North America, Europe, Asia-Pacific, South America, the Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

Product Type
Reishi
Cordyceps
Lions Mane
Turkey Tail
Shiitake
Chaga
Other Product Types
Application
Food and Beverage
Dietary Supplements
Personal Care
Pharmaceutical
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
Saudi Arabia
Rest of Middle East and Africa
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Functional Mushroom Market Size Summary

The medicinal mushroom market is experiencing significant growth, driven by increasing consumer awareness of health benefits and the rising popularity of protein-rich diets. As lifestyles become busier, the demand for packaged foods enriched with functional mushroom extracts is on the rise, appealing to health-conscious consumers. These mushrooms are gaining traction in the healthcare and pharmaceutical sectors due to their immune-boosting properties and ability to combat viruses. The market is seeing a surge in demand for mushrooms like Chaga, Reishi, and Cordyceps, which are being incorporated into various health supplements and functional foods. This trend is further fueled by scientific studies highlighting the health advantages of mushroom-derived supplements, enhancing their appeal in the food and beverage industry.

In regions like Asia, particularly China, the market for functional mushrooms is expanding rapidly due to increased consumer awareness of health and nutrition. As mushrooms gain recognition as superfoods, urban consumers are increasingly opting for these nutrient-dense foods with medical benefits. The competitive landscape of the market is marked by the presence of numerous small players and key companies like Nammex and Hokkaido Reishi Co. Ltd, which are focusing on production capacity expansion and product innovation to meet the growing demand. The market's growth is supported by strategic partnerships and investments, such as Innomy's fundraising for mushroom-based meat substitutes and Psyence Group's collaboration with South African coffee chains to introduce functional mushroom products.

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Functional Mushroom Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product Type

      1. 2.1.1 Reishi

      2. 2.1.2 Cordyceps

      3. 2.1.3 Lions Mane

      4. 2.1.4 Turkey Tail

      5. 2.1.5 Shiitake

      6. 2.1.6 Chaga

      7. 2.1.7 Other Product Types

    2. 2.2 Application

      1. 2.2.1 Food and Beverage

      2. 2.2.2 Dietary Supplements

      3. 2.2.3 Personal Care

      4. 2.2.4 Pharmaceutical

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

        4. 2.3.1.4 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Italy

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 South Africa

        2. 2.3.5.2 Saudi Arabia

        3. 2.3.5.3 Rest of Middle East and Africa

Functional Mushroom Market Size FAQs

The Functional Mushroom Market size is expected to reach USD 32.41 billion in 2024 and grow at a CAGR of 8.44% to reach USD 48.59 billion by 2029.

In 2024, the Functional Mushroom Market size is expected to reach USD 32.41 billion.

Medicinal Mushroom Market Report Snapshots

Medicinal Mushroom Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)