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 2022 To 2030.

Functional Mushroom Market Overview:

Mushrooms that have health benefits are used in a wide range of medical and pharmaceutical products. This makes it easier for these mushrooms to be used in the food and drink industry. The growth of the market is mostly due to the use of these mushrooms as functional parts in the medical industry. Functional mushrooms are widely used in health supplements.

After Reishi and Cordyceps, other types of medicinal mushrooms are expected to be in high demand on the market. Reishi is a common Chinese medicine that is also known as the "Mushroom of Immortality" and the "Elixir of Life." But there are some problems and problems that can't be solved that will slow the growth of the market. The market growth is likely to be limited by the fact that they can't be used in other recipes.

Market Dynamics:

Driver:

Demand for functional foods and a dietary supplement is on the rise.

People's eating habits and the way they live their lives have changed a lot in the last 20 years. 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. Consumers are slowly moving toward functional foods and drinks, which are marketed as having more benefits than just being healthy. People say that these goods give the best nutrition and make it less likely that someone will get sick. Functional meals are becoming more and more popular with customers who care about their health.

For example, reishi, Chaga, and turkey tails are mixed with coffee and chocolate. Turkey tails have enough flavour to be used in soups and broths. Sautéing maitake and shiitake mushrooms in garlic is a great way to make them taste great. The businesses also sell good mushrooms as part of their product lines. Lifehouse Tonics made the first drinks with mushrooms as the main ingredient. For example, medicinal mushrooms are now a part of Four Sigmatic's coffee, tea, and supplements.

Restraint:

Costs are high and the public doesn't care much about functional mushrooms.

Since the Chinese haven't been able to grow this fungus successfully for many years, the price has gone up a lot. Because of this, there was more demand for the same amount of wild cordyceps Sinensis. China just learned how to grow this mushroom a few years ago. Wild cordyceps Sinensis costs haven't changed yet because it hasn't reached a production level. 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 a maximum of USD 91 for 60g. Real Mushrooms Cordyceps Mushroom Extract Powder is the name of this item.

The price of functional mushrooms is much higher than the price of regular mushrooms, which makes the final price of the goods higher. Because of this effect, there is less demand for functional mushrooms. In developed places like North America and Europe, the market for functional mushrooms is also not as big as it could be. Most functional mushrooms are brought in from China because most people don't know about them, they are hard to find, and they cost more than regular mushrooms. Because of this, it usually costs more to buy mushrooms that are good for you.

Opportunity:

Benefits of Functional Mushrooms for Health

Proponents of the functional mushroom trend point out that there are expected benefits, such as the 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 skin's natural glow. For example, antioxidants improve blood flow, lower stress, boost the immune system, and do many other things that make functional mushrooms popular around the world.

In terms of market share for medicinal mushrooms, Reishi and Cordyceps are ahead of all other types. Reishi helps lymphocytes work better, which helps athletes who are under a lot of stress fight cancer and other diseases. Cordyceps also increases mitochondrial ATP synthesis by up to 40%, which is why many professional athletes use it to improve endurance, stamina, and energy and to speed up recovery after a hard workout. All of these medicinal mushrooms strengthen and balance the immune system of the person who eats them.

Segmentation Analysis:

By Product:

The market is split into Reishi, Cordyceps, Lion's Mane, Shiitake, Chaga, Turkey Tail, and Others, based on the product. Shiitake mushrooms are only found in East Asia, and China, Japan, and Korea are where they are most popular. They were first known as medicinal mushrooms because they were good for your health. Because of their rich texture and smoky flavour, these mushrooms are used a lot in the food industry. Also, they became very popular because of the many ways they could be used for food and medicine.

By Application:

The market is split into Food Service, Personal Care, Pharmaceutical, and Others, based on how it is used. Mushrooms are used in many different ways in the food industry and in medicine, so it is likely that they have the largest market share. They help people lose weight, support heart health, fight cancer cells, increase energy and brain function, reduce inflammation, and boost the immune system. For all these reasons, they are widely used in many pharma industries.

Regional Insights:

The global industry is further divided into North America, Asia-Pacific, Europe, the Middle East and Africa, and Central and South America based on where they are. During the projected time frame, North America is expected to have the fastest growth rate of more than 11.5%. This is because these mushrooms are becoming more well-known as "superfoods." In developed areas, functional mushrooms are becoming more popular because they are better than many other healthy foods. Also, the growth of the region will be helped by more people caring about their overall health and well-being.

In North America, demand for functional mushrooms is also expected to rise because more and more people want to eat a vegan diet. Asia-Pacific was the most important area in 2021 because most mushrooms were grown there. The high demand for these mushrooms as possible functional foods was another important thing that drove the regional market. Functional mushrooms are also in high demand in the food and drink industry in the Asia-Pacific region. This is because more and more people are eating these mushrooms as a healthy food option.

Scope Analysis

Recent Development:

• 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.

Market Segmentation

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
• Others