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  • Published On : Jul 2022
  • Code : CMI5097
  • Industry : Food and Beverages
  • Pages : 129
  • Formats :

Functional mushroom can be found in many forms, and is packed with nutrients and health benefits. They contain essential vitamins and minerals, antioxidants, amino acids, prebiotics, and polysaccharides, among other nutrients.

Market Statistics:

The global functional mushroom market was valued at US$ 27,740.60 Mn in 2021 and is forecast to reach a value of US$ 52,341.00 Mn by 2030 at a CAGR of 8.44% between 2022 and 2030.

Asia Pacific held dominant position in the global functional mushroom market in 2020, accounting for 49.00% share in terms of volume, followed by North America and Europe, respectively.

Figure 1. Global Functional Mushroom Market Value Share (%), By Region, 2021

Functional Mushroom  | Coherent Market Insights

Recent Developments:

  1. In February 2021, Nammex's state-of-the-art extract facility went online as mushroom demand skyrocketed amid the COVID-19 pandemic. The new facility can produce up to 25 tons of mushroom extract powders per month, including Reishi, Lion’s Mane, Chaga, Cordyceps, Shiitake, Maitake, Turkey Tail, and others. All the extracts are USDA Organically Certified and Kosher.
  2. In March 2018, Suja Juice partnered with M2 to launch its line of kombucha drinks with different adaptogens, such as M2’s reishi mushrooms. The company also plans on expanding its mushroom-infused beverages in the future.
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Functional Mushroom Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 27,740.60 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 8.44% 2030 Value Projection: US$ 52,341.00 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Type: Reishi, Cordyceps, Lion’s Mane, Turkey Tail, Shiitake, Chaga, Other Types
  • By Application: Food and Beverage, Dietary Supplements, Personal Care, Pharmaceutical
  • By Geography: North America, Europe, Asia-Pacific, Rest of the World
Companies covered:

NAMMEX, Hirano Mushroom LLC, Mitoku Company Ltd, Lianfeng (Suizhou) Food Co. Ltd, Monterey Mushrooms Inc., M2 Ingredients, Fresh Mushroom Europe NV, Mycotrition GmbH, Hokkaido Reishi Co. Ltd, and Verhoeckx Paddenstoelen BV

Growth Drivers:
  • Growing demand for functional food &beverage
  • Rising awareness regarding medicinal benefit of functional mushroom
Restraints & Challenges:
  • High cost
  • Low public awareness

Market Drivers:

Growing consumption of functional food and dietary supplements is fuelling growth of the functional mushroom market growth. Consumers are gradually moving toward functional foods and beverages that are promoted as being beneficial beyond basic nutrition. These products are purported to provide optimal nutrition and reduce the risk of disease occurrence.

Factor such as medicinal benefits of functional mushroom is again driving propelling market growth. All functional mushrooms work to balance the energy levels, strengthen immune function, smooth digestion, and enhance the skin's natural glow. However, the presence of substances, like antioxidants, also helps to boost blood flow, reduce stress, strengthen immunity, and offers many other benefits that drive the functional mushrooms market globally.

Figure 2. Global Functional Mushroom Market Value Share (%), By Application, 2021

Functional Mushroom  | Coherent Market Insights

Market Restraints:

High cost of the functional mushroom is expected to limit its adoption among consumers. This is expected to hinder the market growth. Reishi mushroom and dried Cordyceps mushroom prices in the Asian market are about USD 51.65 and USD 2,152.41, respectively. Additionally, wild cordyceps sinensis costs over USD 20,000 per kilogram, which makes it the most expensive mushroom in the world. They are almost exclusively sold in Asia and rarely make it into the North American market.

Low public awareness is another key factor projected to hamper the market growth of functional mushroom.

Market Opportunities:

Growing focus of key players to expand its distribution channel by adopting strategic partnership and agreements is projected to offer significant growth opportunities in the near future. For instance, in June 2018, Ecovative Design partnered with the Netherlands-based CNC Exotic Mushrooms to exclusively distribute its raw materials in Europe, supporting a growing ecosystem of mycelium-based companies and products throughout the European Union. This partnership with CNC, which produces and distributes  substrates used by professional growers of edible exotic mushrooms, allows Ecovative to support the companies in the EU that want to create new and better  products with mycelium.

Launch of new product that are infused with functional mushroom is projected to bring profitable market opportunities for the key players. For instance, in October 2019, California-based Rebbl launched a new super herb elixir, Mayan Cocoa Gold Label Elixir, an organic drink featuring four medicinal mushrooms, to support immune health. Every bottle of Rebbl is certified organic, soy and dairy-free, gluten-free, GMO-free, and made without cane sugar, carrageenan, thickeners, natural flavors, or agave.

Market Trends/Key Takeaways:

Nowadays, several studies are being conducted to analyse the medical safety and efficacy of psychedelics, including psilocybin, and the potential benefits of  psychedelics as a treatment for cluster headache, anxiety, addiction to alcohol and other drugs, depression, obsessive-compulsive disorder, and neuroimaging  experiments, furthering the understanding of its effects on the brain. This factor will favour the market growth.

Growing disposable income of consumer is increasing spending on functional food &beverage due to growing health &wellness trend. This is projected to uplift the market growth.

Competitive Landscape:

  1. NAMMEX
  2. Hirano Mushroom LLC
  3. Mitoku Company Ltd
  4. Lianfeng (Suizhou) Food Co. Ltd
  5. Monterey Mushrooms Inc.
  6. M2 Ingredients
  7. Fresh Mushroom Europe NV
  8. Mycotrition GmbH
  9. Hokkaido Reishi Co. Ltd
  10. Verhoeckx Paddenstoelen BV

Functional mushrooms are loaded with polysaccharides and antioxidants, so consuming a large variety of these can improve many aspects of health. They may improve sleep, reduce stress, improve immune system, and even boost the mood. They're also safe to consume and do not cause a high. They are available in powder, capsule, or liquid drink that contains a certain quantity of functional mushroom.

Market Dynamics:

Growing demand for functional food &beverage coupled with the rising awareness regarding medicinal benefits of mushroom are major factors propelling growth of the functional mushroom market. The functional mushrooms market is largely dominated by reishi and cordyceps, followed by the other types of medicinal mushrooms. Reishi helps to improve lymphocyte function, which helps fight infections and cancer in athletes exposed to stressful conditions. Also, Cordyceps, mostly used by many professional athletes to increase endurance and stamina, and energy, and also to reduce recovery time after a strenuous workout, increases the mitochondrial ATP synthesis by as much as 40%. All these medicinal mushrooms are used to boost and balance the consumer's immune system.

On the other hand, high cost and low public awareness regarding functional mushroom are key factor hindering market growth.

Key features of the study:

  • This report provides in-depth analysis of the global functional mushroom market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global functional mushroom market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include NAMMEX, Hirano Mushroom LLC, Mitoku Company Ltd, Lianfeng (Suizhou) Food Co. Ltd, Monterey Mushrooms Inc., M2 Ingredients, Fresh Mushroom Europe NV, Mycotrition GmbH, Hokkaido Reishi Co. Ltd, and Verhoeckx Paddenstoelen BV.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global functional mushroom market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global functional mushroom market

Detailed Segmentation:

  • Global Functional Mushroom Market, By Type:
    • Reishi
    • Cordyceps
    • Lion’s Mane
    • Turkey Tail
    • Shiitake
    • Chaga
    • Other Types
  • Global Functional Mushroom Market, By Application:
    • Food and Beverage
    • Dietary Supplements
    • Personal Care
    • Pharmaceutical
  • Global Functional Mushroom Market, By Geography:
    • North America
    • Europe
    • Asia-Pacific
    • Rest of the World

Frequently Asked Questions

The global functional mushroom market size is estimated to be valued at US$ 27,740.60 Million in 2021 and is expected to exhibit a CAGR of 8.44% between 2022 and 2030.
Growing demand for functional food &beverage and increasing awareness regarding medicinal benefits of functional mushroom are fuelling the growth of the market.
The Personal Care segment is the leading component segment in the market.
High cost and low public awareness are the major factors restraining growth of the market.
Major players operating in the market NAMMEX, Hirano Mushroom LLC, Mitoku Company Ltd, Lianfeng (Suizhou) Food Co. Ltd, Monterey Mushrooms Inc., M2 Ingredients, Fresh Mushroom Europe NV, Mycotrition GmbH, Hokkaido Reishi Co. Ltd, and Verhoeckx Paddenstoelen BV

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