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.
The market’s growth prospects are still favourable due to the recent spike in the adoption of functional mushrooms as a nutritious food alternative in everyday diets. Global demand for functional mushrooms is anticipated to rise as vegan diets gain popularity among younger generations. Greater consumer knowledge of the products’ abilities to maintain overall health and wellbeing may also help the market grow.
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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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