The global functional mushroom market was valued at approximately US$ 9,324.7 million in 2022 and is expected to grow at a steady annual rate of 9% from 2023 to 2033. By the end of this forecast period, it is projected to reach a total valuation of US$ 22,023.8 million. This growth is driven by the increasing use of functional mushrooms as a healthy food substitute in regular diets and the rising popularity of vegan diets among younger generations. Additionally, heightened awareness of the products’ potential to enhance overall health and wellness is expected to further boost market demand.
The global functional mushroom market value was figured out to be around US$ 9,324.7 Million in 2022. FMI anticipates it to grow at an annual rate of 9% from 2023 to 2033. It further predicts the overall valuation to reach US$ 22,023.8 Million by the end of this forecast period.
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The market is still expected to increase favourably since functional mushrooms are becoming more and more popular as a healthy food substitute in regular diets. The growing popularity of vegan diets among younger generations is expected to drive up demand for functional mushrooms globally. If customers learn more about the goods’ potential to improve general health and wellness, the market may grow.
Because tropical locations produce the majority of mushrooms, the Asia-Pacific region is expected to have increased growth in the coming years. The increased popularity of edible mushrooms as superfoods that help food security in developing countries could have something to do with it. Furthermore, they are gaining appeal in industrialised countries as healthier alternatives to a range of other nutrient-dense foods.
The growing urban population and the rising cost of meals with beneficial ingredients are two other big concerns. Germany, with its substantial food and beverage sectors, has a higher demand for functional mushrooms than any other European country.
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.
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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
In June 2021, The Marley Company and Silo Wellness Incorporation unveiled the Marley One psychedelic and medicinal mushroom consumer brand. Significant Toronto-based psychedelic company Silo Wellness focuses on boosting immunity, improving digestive health, and promoting cognitive function. A variety of tinctures prepared from useful mushrooms, including lion’s mane, cordyceps, reishi, turkey tail, and Chaga, can be found in the first product category.
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, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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