Functional Mushroom Market Growth Surge A Lucrative Opportunity for Investors as Global Valuation Set to Reach US$ 22 Billion by 2033

global functional mushroom market
global functional mushroom market

The global functional mushroom market value in 2022 was calculated to be approximately US$ 9,324.7 million. According to

FMI, between 2023 and 2033, it will grow at a rate of 9% annually. It also estimates that the entire valuation will have reached US$ 22,023.8 million by the end of the predicted period.

The sector has a lot of room to grow given the recent surge in the use of functional mushrooms as a healthy substitute in ordinary meals. It is projected that as more younger generations adopt vegan diets, the global market for functional mushrooms will expand. A greater understanding among consumers of the products’ capacity to maintain overall health and well-being may facilitate market growth.

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The Asia Pacific countries are anticipated to have higher growth during the forecast years since the majority of mushrooms are grown in tropical areas. It may be related to growing interest in edible mushrooms as superfoods that improve food security in impoverished nations. They are also growing in popularity in industrialised countries as a superior replacement for a variety of other nutrient-dense meals.

The expanding urban population and rising expenditures on meals with functional enhancements are two more crucial factors. Due to its substantial food and beverage sectors, Germany has a stronger need for functional mushrooms than other European nations.

Key Takeaways from this Report:

  • Based on geographic regions, the sales of functional mushrooms in the United States constituted 16.4% of the global revenue in 2022.
  • The overall demand for functional mushrooms in Germany generated a global revenue share of around 6.6% as per the 2022 records. Meanwhile, the United Kingdom is anticipated to increase at a higher rate of nearly 5.9% through 2033.
  • Japan is the leading country in the Asia Pacific region and it held a global market share of around 7.3% in the year 2022. On the other hand, China is expected to overtake it soon by capturing a 4.5% CAGR between the years 2023 and 2033.
  • The production of functional mushrooms in India is anticipated to increase at the quickest rate of nearly 8.9% during the anticipated period.
  • Back in the year 2022, the organic segment led the global market in terms of nature and was responsible for a revenue share of more than 21.3%.
  • The powdered product segment led the market and was responsible for a revenue share of nearly 23.7% in the year 2022. This was brought on by the product’s increased popularity due to its higher storage and transport feasibility.

Competitive Landscape:

  • 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

The Marley Company introduced the Marley One psychedelic and functional mushroom consumer brand in June 2021 in collaboration with Silo Wellness Incorporation. Silo Wellness is a significant Toronto-based psychedelic business working on enhancing immunity and supporting gastrointestinal health and cognitive function. The first product line contains a range of tinctures made from functional mushrooms, such as lion’s mane, cordyceps, reishi, turkey tail, and Chaga.

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Key Segmentation:

By Nature:

  • Organic
  • Conventional

By Product Species:

  • Reishi
  • Shiitake
  • Lion’s Mane
  • Chaga
  • Maitake
  • Cordyceps
  • Tremella
  • Turkey Tail
  • Enokitake
  • Oyster Mushrooms
  • Others

By Form:

  • Liquid Sprays and Drinks
  • Powders
  • Capsules or Supplements
  • Others

By Application:

  • Food & Beverages
  • Nutraceuticals & Dietary Supplements
  • Pharmaceutical
  • Sports Nutrition and Functional Items
  • Cosmetics & Personal Care
  • Pet Care Industry
  • Other Applications

By Region:

  • North America Market
  • Latin America Market
  • Europe Market
  • East Asia Market
  • South Asia Market
  • Oceania Market
  • The Middle East & Africa (ME&A) Market

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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