In 2022, it is expected that the functional mushroom market would be worth US$9.3 billion. The market will grow at a 5.6% CAGR throughout the projection period, reaching US$ 22.3 Bn by 2032. According to recently published Future Market Insights research, in 2022, the market for functional mushrooms is expected to increase globally by 8.8% year over year (Y-o-Y).
Around 15 species of functional mushrooms are known for having medicinal and healing properties. Reishi, named as lingzhi in China, has been used in Chinese medicine for longevity for over 2,000 years, while Chaga is considered as the richest antioxidant mushroom that provides anti-inflammatory benefits while strengthening immune system. Further, Cordyceps, a parasitic and rare mushroom, is used for vitality, energy, and endurance worldwide.
Adaptogenic mushrooms are gradually emerging as an effective superfood. They increase energy levels, restore youthful glow of skin, keep hormone levels in check, and reduce brain fog.
Healing mushrooms, like Cordyceps, Tremella, Reishi, Oyster, Shiitake, and Enoki are being used in the health and wellness products as powdered supplements, which is expected to create opportunities for growth in the market.
In addition to this, increasing applications of functional mushrooms in non-alcoholic beverages and holistic pet care products will continue driving sales in the market over the assessment period.
“Rising awareness regarding the benefits of organic functional mushrooms, along with increasing interest and expenditure on nutrition and health supplements across the globe will dirve sales in the market in the forthcoming years,” says an FMI analyst.
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Key Takeaways from Market Study
- Based on nature, the organic functional mushroom segment will account for a dominant share in the market.
- In terms of applications, demand in the pet care industry is anticipated to remain high.
- By form, sales of powdered functional mushroom will continue gaining momentum through 2032.
- The U.S. will dominate the North America functional mushroom market owing to high demand from the food and beverage sector.
- China will account for a lion’s share in the East Asia functional mushroom market on the back of surging applications on sports nutrition.
- The U.K. will emerge as a lucrative pocket in the Europe functional mushroom market amid rising preference for organic food supplements.
Competitive Landscape
Key functional mushroom brands are looking for new strategic partnerships to diversify applications in food and beverage industry. Players are also focusing on developing nutritional and high-quality food solutions while being innovative with formulations to attract more customers. For instance:
- In 2020, Meghan Markle, the Duchess of Sussex, announced to invest in Clevr Blends, an LA-based brand which sells powdered coffee spiked with adaptogens, functional mushrooms, and probiotics.
- In November 2021, Odyssey Wellness LLC launched its RTD (ready-to-drink) line of functional and organic mushroom elixirs with the brew line including 4 delicious and unique flavor combinations, such as French Roast Oat Latte with Cordyceps, Lions Mane and Cocoa, Cold Brew Oat Latte with Cordyceps and Lions Mane, Berry White Tea with Chaga, Reishi, Turkey Tail, Maitake, Elderberry, and Shitake, and Chai Rooibos with Turkey Tail, Reishi, and Ashwagandha.
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global functional mushroom market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Functional Mushroom Market By Category
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
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Frequently Asked Questions
- How much is the global functional mushroom market worth?
- At what CAGR is the market expected to expand through 2032?
- At what rate did functional mushroom sales grow between 2017-2021?
- What is the projected valuation of the functional mushroom market in 2032?
- Who are the key players operating in the functional mushroom market?
- Which are the top countries driving the functional mushroom market demand?
- What are the key factors affecting the functional mushroom market growth?
About Future Market Insights (FMI)
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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