Functional Mushroom Market:
Growth opportunities in the functional mushroom market look promising over the next six years. This is mainly due to the growing awareness associated with the consumption of functional food and the prevalence of many medicinal features with flavor-enhancing benefits.
Functional Mushroom Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Functional mushrooms are catching recognition in the food and medicine sector and are on the verge of becoming an upcoming ingredient for drinks like smoothies. The use of some of mushroom species including Chaga, reshi, and cordyceps to make conventional medicines is a factor responsible for their growing prominence in the market. Also, the augmenting consciousness among consumers for functional food items has strengthened the market size. Moreover, they are referred to as ‘healing mushrooms’ in the pharmaceutical sector as they help enhance the skin’s glow, balance the energy level, and strengthen the immune system. In accordance with the “Journal of Nutrition and Food Sciences,” mushrooms offer 130 medicinal functions along with their application as an antioxidant and for antitumor, antidiabetic purposes, which has accelerated their acquisition in the market.
Additionally, prudent measures by leading market players, which include adoption and enlargement, have bolstered the market growth. Half Hill Farm Inc., in 2019, officially inaugurated two stores in the U.S., which has raised the company’s reach by filling the consumer demand gap. In 2021, South Mill Champs extended mushroom processing to increase the production capacity, which accelerated the market growth. However, the apprehension relating to side-effects and allergies of the ingredient is obstructing the functional mushroom market size.
Product Type Segment Drivers
Based on the product type, cordyceps is projected to witness a faster CAGR in the market over the forecast period. This is because of their increasing demand from the medication and food & beverage industry. Cordyceps, a mushroom species, has been traditionally used for medication, and now the substantial shift towards healthy eating has impelled the market growth.
Regional Drivers
Based on the regional coverage, Asia-Pacific is predicted to lead the market over the forecast period. This is primarily attributed to their growing consumption in countries including Japan, China, and India. Also, the widespread outbreak of the coronavirus pandemic has intensified demand for these mushrooms, especially in China, owing to the growing awareness across individuals about conventional health products and medical properties imparted by them.
Functional Mushroom Market’s leading Manufacturers:
- BONDUELLE
- Banken Champignons Groep BV
- Four Sigmatic
- Om Organic Mushroom Nutrition
- Real Mushrooms
- OKECHAMP SA
- South Mill Champs
- Yuguo Farms
- Pan’s Mushroom Jerky
- Half Hill Farm Inc
Functional Mushroom Market Segmentation:
Segmentation by Product Type
- Reshi
- Cordyceps
- Lions Mane
- Turkey Tail
- Shiitake
- Chaga
- Others
Segmentation by Application
- Food and Beverage
- Dietary Supplements
- Personal Care
- Pharmaceutical
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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