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Global Functional Mushrooms Market Share, Size, Trends, Analysis, Growth, Forecast: By Product Type: Reishi, Cordyceps, Lion’s Mane, Turkey Tale, Others; By Application: Food and Beverage, Dietary Supplements, Personal Care and Cosmetics, Pharmaceutical; By Distribution Channel; Regional Analysis; Competitive Landscape; 2024-2032
Global Functional Mushrooms Market Outlook
The global functional mushrooms market size reached a value of about USD 32.37 billion in 2023. The market is further estimated to grow at a CAGR of 8.3% in the forecast period of 2024-2032 to reach a value of nearly USD 66.35 billion by 2032.
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Rising Demand in the Pharmaceutical Sector to Propel the Market Growth of Functional Mushrooms
Based on application, functional mushrooms are used in the pharmaceutical sector owing to their bioactive compound content. Medicinal mushrooms possess numerous pharmacological actions such as anti-inflammatory, antimicrobial, immunomodulatory, antidiabetic, cytotoxic, antioxidant, anticancer, antioxidant, antiallergic, and prebiotic properties, among others. The expanding interest in the biotechnological cultivation of mushrooms is also surging the demand for mushroom based biotech products in the pharmaceutical sector.
The growing importance of functional mushrooms to reduce the risk of life threatening diseases is aiding the market. Functional molecules from mushrooms enhance the quality of life of patients on lifelong therapeutic drugs, which is invigorating the functional mushrooms market expansion. In addition, functional mushrooms, when used as drugs, can supplement other treatments and complement modern medicine.
The rising inclination towards using natural products, such as functional mushrooms, in traditional therapies is bolstering the market growth. The ongoing research studies to understand the bioactive metabolites of mushrooms are further expected to accelerate the use of functional mushrooms in pharmaceutical applications over the forecast period.
Market Segmentation
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Functional mushrooms are types of fungi that offer several health benefits beyond their nutritional compositions. Functional mushrooms can be medicinal mushrooms or adaptogenic mushrooms. They are often taken through capsules, powders, liquids, and sprays. The various types of functional mushrooms include cordyceps, reishi, and turkey tale, among others.
The functional mushrooms market by product type is divided into:
- Reishi
- Cordyceps
- Lion’s Mane
- Turkey Tale
- Others
Based on application, the market is segmented into:
- Food and Beverage
- Dietary Supplements
- Personal Care and Cosmetics
- Pharmaceutical
On the basis of distribution channel, the market is classified into:
- Supermarket and Hypermarket
- Convenience Stores
- Online Stores
The regional markets for functional mushrooms can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Rising Health Consciousness to Drive the Market Growth of Functional Mushrooms
The increasing health-consciousness and the surging focus on healthy lifestyles are increasing the consumption of functional mushrooms owing to their multiple health benefits. The ever-increasing vegan population and the inclination of people towards plant-based functional foods, like mushrooms, are also propelling the functional mushrooms market demand.
Various skin-enhancing benefits of functional mushrooms due to their antioxidant properties are increasing their demand in the cosmetic sector. Functional mushrooms are also utilised in the expanding catering sector in the form of powders and tinctures for beverages such as smoothies and coffee, among others. Moreover, innovations for the development of new culinary dishes using functional mushrooms and the surging demand for high-quality food products are propelling the market expansion.
The expanding distribution channels and the rising availability of functional mushrooms through e-commerce platforms are significantly fuelling the market development. The increasing government initiatives to promote the cultivation of mushrooms and meet their growing demand are providing further impetus to the market growth. Moreover, the increasing penetration of market players and the expanding distribution of high-quality mushrooms are expected to prove as significant functional mushrooms market drivers in the forecast period.
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Key Players in the Global Market for Functional Mushrooms
The report gives a detailed analysis of the following key players in the global functional mushrooms market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Hokkaido Reishi Co., Ltd
- Hirano Mushroom LLC
- Banken Champignons B.V.
- Half Hill Farm Inc
- Asia Pacific Farm Enterprises Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Trade Data Analysis |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Industry Opportunities and Challenges
8 Global Functional Mushrooms Market Analysis
8.1 Key Industry Highlights
8.2 Global Functional Mushrooms Historical Market (2018-2023)
8.3 Global Functional Mushrooms Market Forecast (2024-2032)
8.4 Global Functional Mushrooms Market by Product Type
8.4.1 Reishi
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Cordyceps
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Lion’s Mane
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Turkey Tale
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Functional Mushrooms Market by Application
8.5.1 Food and Beverage
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Dietary Supplements
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Personal Care and Cosmetics
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Pharmaceutical
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.6 Global Functional Mushrooms Market by Distribution Channel
8.6.1 Supermarket and Hypermarket
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Convenience Stores
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Online Stores
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.7 Global Functional Mushrooms Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Trade Data Analysis
11.1 Major importing countries
11.1.1 By Value
11.1.2 By Volume
11.2 Major Exporting Countries
11.2.1 By Value
11.2.2 By Volume
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Hokkaido Reishi Co., Ltd
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Hirano Mushroom LLC
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Banken Champignons B.V.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Half Hill Farm Inc
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Asia Pacific Farm Enterprises Inc.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Functional Mushrooms Market: Key Industry Highlights, 2018 and 2032
2. Global Functional Mushrooms Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3. Global Functional Mushrooms Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4. Global Functional Mushrooms Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Functional Mushrooms Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Functional Mushrooms Historical Market: Breakup by Distribution Channels (USD Billion), 2018-2023
7. Global Functional Mushrooms Market Forecast: Breakup by Distribution Channels (USD Billion), 2024-2032
8. Global Functional Mushrooms Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Functional Mushrooms Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Functional Mushrooms Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Functional Mushrooms Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Functional Mushrooms Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Functional Mushrooms Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Functional Mushrooms Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Functional Mushrooms Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Functional Mushrooms Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Functional Mushrooms Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Functional Mushrooms Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Functional Mushrooms Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Major Importing Countries by Value
21. Major Exporting Countries by Value
22. Major Importing Countries by Volume
23. Major Exporting Countries by Volume
24. Global Functional Mushrooms Market Structure.
Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 32.37 billion.
The global functional mushrooms market is assessed to grow at a CAGR of 8.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach almost USD 66.35 billion by 2032.
Functional mushrooms are a rich source of essential minerals and multiple vitamins; hence they strengthen the immune system, relieve stress, and support digestion, among others.
The major market drivers include the rising vegan population, the growing inclination towards plant-based functional food, multiple health benefits of functional mushrooms,and the expansion of distribution channels.
The key market trends guiding the growth of the market include the rising health consciousness and the increasing research studies to understand the bioactive metabolites of mushrooms for use in the pharmaceutical sector.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant product types of functional mushrooms include reishi, cordyceps, lion’s mane, and turkey tale, among others.
The various applications of functional mushrooms include food and beverage, dietary supplements, personal care and cosmetics, and pharmaceutical.
The different distribution channels of functional mushrooms include supermarket and hypermarket, convenience stores, and online stores.
The major players in the market are Hokkaido Reishi Co., Ltd, Hirano Mushroom LLC, Banken Champignons B.V., Half Hill Farm Inc, and Asia Pacific Farm Enterprises Inc., among others.
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