Functional Mushroom Market Overview
The global functional mushroom market is projected to grow with a CAGR of 8.04% during the forecast period (2020 - 2025). Functional mushrooms are used in a wide variety of healthcare and pharmaceutical products. The application of these mushrooms as a functional ingredient in the medical industry is driving the growth of the market, as functional mushrooms are being increasingly incorporated into health supplements. A number of 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 also cure to not get COVID-19, hence increasing the market growth of the category.
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Functional Mushroom Market - Geographical Overview
The Asia Pacific holds the largest functional mushroom market share
In the Asian region, China is the largest producer of mushrooms, globally. The country engages in the production of mushrooms and truffles to meet the large external and internal market demands. With the growing income levels of urban and rural Chinese consumers and with the transformation of comprehensive health awareness and consumption concepts, consumers across the market are placing more importance on safety, nutrition, and consumption of healthy food with certain medical benefits. The rapid development of the catering industry also stimulates the growth of mushrooms in the respective market.
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Key Highlights of the Functional Mushroom Market
- The market studied is highly fragmented, with the presence of many small players in the market. Key players, such as Nammex, CNC Exotic Mushrooms, and Mitoku Company, have focused on expansion by increasing the production capacity of mushroom farms. Nammex and Hokkaido Reishi Co. Ltd are the most active companies operating in the functional mushroom market.
- Functional foods are gaining high popularity among health-conscious consumers. During the forecasted period, the demand for medicinal mushrooms is expected to increase significantly, as these mushrooms are being incorporated in various functional food and beverages. The market is expected to experience huge demand for Reishi and Cordyceps, followed by the other types of medicinal mushrooms.
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List of Key Players in the Functional Mushroom Market
- Nammex
- Hirano Mushroom LLC
- CNC Exotic Mushrooms
- Mitoku Company Ltd
- Lianfeng (Suizhou) Food Co. Ltd
- Shanghai Finc Bio-tech Inc.
- M2 Ingredients
- Hokkaido Reishi Co. Ltd
*List Not Exhaustive
Mordor Intelligence has segmented the global functional mushroom market on the basis of product type, application, and geography:
- Product Type (Market Size & Forecast based on Revenues (USD million), 2016-2026)
- Reishi
- Cordyceps
- Lions Mane
- Turkey Tail
- Shiitake
- Chaga
- Other Product Types
- Application (Market Size & Forecast based on Revenue (USD million), 2016-2026)
- Food and Beverage
- Dietary Supplements
- Personal Care
- Pharmaceutical
- Geography (Market Size & Forecast based on Revenue (USD million), 2016-2026)
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- Russia
- France
- Rest of Europe
- Rest of the World
- South America
- Middle-East and Africa
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