Functional Mushrooms Market Outlook 2031
The global functional mushrooms market size was USD 26.54 Billion in 2022 and is expected to reach USD 56.84 Billion by 2031 register a robust CAGR 8.83% during the forecast period, between 2023 to 2031. Functional mushrooms are rare types of mushrooms that grow in on fallen logs, dense forests, or even on the head of a caterpillar high on the Himalayan plateau.
These mushrooms are considered to be high in antioxidants and nutritional content, with a variety of health benefits. Owing to various medical properties, the demand for these mushrooms are rising significantly over the years. Functional mushrooms can also be used as a dietary choice as these plants have low in calories and high in protein, which is ideal for those who are suffering from minerals and vitamins deficiency. Certain functional mushrooms can help to enhance immune systems, allowing your body to fight off infections more effectively.
Functional Mushrooms Market Trends, Drivers, Restraints, and Opportunities:
- Wide application of functional mushrooms as a useful ingredient in the pharmaceutical sector is a key factor boosting the market.
- Increasing number of health-conscious population and a shift in consumer preference toward functional meals are key drivers of the market growth.
- Growing need for functional mushrooms in the personal care market to produce high-quality and high nutritious products is projected to fuel the market expansion in the coming years.
- Extensive market reach of competing protein substitutes and availability of alternative solutions for nutritional vitamins are key constraints that can hamper the market expansion during the forecast period.
- High product pricing is another restraining factor. This is expected to hinder the market growth in the coming years.
- Increasing demand for organic reishi mushroom goods as well as the rising use of mushrooms as a diet supplement to meat products present new growth opportunities of the market.
Scope of The Functional Mushrooms Market Report:
The report on the global functional mushrooms market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Functional Mushrooms Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Types (Chaga, Cordyceps, Lions Mane, Shiitake, Reishi, Turkey Tail, and Others), Applications (Dietary Supplements, Food & Beverage, Personal Care, and Pharmaceutical)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Real Mushrooms; Hokkaido Reishi Co. Ltd.; Half Hill Farm Inc.; Nikkei Marketing Limited; Swadeshi Mushroom Spawn; Rebbl; Pan’s Mushroom Jerky; Concord Farms; Asia Pacific Farm Enterprises Inc.; and Mitoku Co. Ltd.
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Functional Mushrooms Market Segment Insights:
Cordyceps segment to hold significant market share
Based on product types, the functional mushrooms market is segmented into chaga, cordyceps, lions mane, shiitake, reishi, turkey tail, and others. The cordyceps segment is projected to hold significant market share during the targeted period owing to their numerous medical effects and potential to promote immune health.
The Chaga segment, however, is projected to expand at a robust growth pace in the near future due to rising adoption of products in the creation of numerous functional teas and other beverages, related to their capacity to enhance digestive health.
Food & beverage segment to account for a substantial share
On the basis of applications, the market is fragmented into dietary supplements, food & beverage, personal care, and pharmaceutical. The food & beverage segment is anticipated to account for a substantial share owing to rising consumer interest in functional drinks and food. The use of functional mushrooms, particularly in powdered form, in the formulation of dietary supplements is expected to rise dramatically in the coming years, owing to rising dietary supplement use particularly in developing nations such as Japan and China.
The pharmaceutical segment, however, is anticipated to register a high CAGR during the forecast period. They offer various health benefits including cardiovascular stability, weight control, improving energy levels eliminating cancer cells, and reducing inflammation, brain functioning, and boosting the immune system.
Asia Pacific is expected to dominate the market
In terms of regions, the functional mushrooms market is classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market in the coming years owing to increased mushroom production and growth in some of the major economies such as Japan and China.
Higher consumption of functional mushrooms in the region owing to the rising awareness of many health benefits of products combined with increased functional mushroom exports to developed nations. The market of Europe, however, is projected to expand at a robust growth pace in the coming years owing to rising consumer interest in functional foods. Increased mushroom imports by key European countries such as Italy, Germany, and France are projected to stimulate the growth of the regional market.
Segments
By Product Types
- Chaga
- Cordyceps
- Lions Mane
- Shiitake
- Reishi
- Turkey Tail
- Others
By Applications
- Dietary Supplements
- Food & Beverage
- Personal Care
- Pharmaceutical
By Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
By Key Players
- Real Mushrooms
- Hokkaido Reishi Co. Ltd.
- Half Hill Farm Inc.
- Nikkei Marketing Limited
- Swadeshi Mushroom Spawn
- Rebbl
- Pan’s Mushroom Jerky
- Concord Farms
- Asia Pacific Farm Enterprises Inc.
- Mitoku Co. Ltd.
Competitive Landscape
Key players in the global functional mushrooms market are Real Mushrooms; Hokkaido Reishi Co. Ltd.; Half Hill Farm Inc.; Nikkei Marketing Limited; Swadeshi Mushroom Spawn; Rebbl; Pan’s Mushroom Jerky; Concord Farms; Asia Pacific Farm Enterprises Inc.; and Mitoku Co. Ltd.
These players have actively engaged in several business development activities including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to strengthen their geographical presence and expand their customer base globally.
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