[Latest] Global Functional Mushroom Market Size/Share Worth USD 83,598.7 Million by 2033 at a 11.5% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)
Austin, TX, USA, June 10, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Functional Mushroom Market Size, Trends and Insights By Mushroom Type (Reishi, Chaga, Cordyceps, Lion's Mane, Shiitake, Maitake, Turkey Tail, Others), By Form (Whole mushroom, Powder, Extract, Capsules/Tablets, Liquid Extracts, Others), By Distribution Channel (Online, Offline), By End Use (Dietary Supplements, Pharmaceuticals, Food and Beverages, Cosmetics and Personal Care, Animal Feed, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.
“According to the latest research study, the demand of global Functional Mushroom Market size & share was valued at approximately USD 28,148.2 Million in 2023 and is expected to reach USD 31,385.2 Million in 2024 and is expected to reach a value of around USD 83,598.7 Million by 2033, at a compound annual growth rate (CAGR) of about 11.5% during the forecast period 2024 to 2033.”
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Functional Mushroom Market: Growth Factors and Dynamics
- Increasing Consumer Awareness and Demand: Growing awareness regarding the health benefits associated with functional mushrooms, such as immune system support, cognitive enhancement, and anti-inflammatory properties, is driving consumer demand. As people become more health-conscious, they are seeking natural and holistic alternatives, fueling the growth of the functional mushroom market.
- Expanding Application Scope: Functional mushrooms are being incorporated into various industries beyond dietary supplements, including pharmaceuticals, food and beverages, cosmetics, and animal feed. The versatility of functional mushrooms and their ability to address diverse health concerns contribute to their expanding application scope, driving market growth.
- Research and Development: Ongoing research and development efforts are leading to the discovery of new bioactive compounds and therapeutic properties in functional mushrooms. This continuous innovation is enhancing the efficacy and range of applications of functional mushrooms, attracting more consumers, and stimulating market growth.
- Shift Towards Natural and Plant-Based Ingredients: The growing preference for natural, plant-based ingredients in food, beverages, and supplements is a significant driver of the functional mushroom market. Functional mushrooms offer a sustainable and eco-friendly alternative to synthetic ingredients, appealing to environmentally conscious consumers and contributing to market expansion.
- E-commerce Growth: The proliferation of e-commerce platforms has facilitated easier access to functional mushroom products for consumers worldwide. Online retail channels offer a convenient shopping experience, extensive product variety, and access to niche and specialty functional mushroom products, driving market growth by reaching a broader consumer base.
- Regulatory Support and Industry Standards: Increasing regulatory support and the establishment of industry standards for functional mushroom products are boosting consumer confidence and market growth. Regulatory bodies are recognizing the safety and efficacy of functional mushrooms, leading to clearer labeling requirements and quality standards, which in turn, enhances market credibility and fosters growth.
- Growing Investment and Market Expansion Initiatives: Increased investment in research, production, and marketing initiatives by key players in the functional mushroom market is accelerating market growth. Companies are expanding their product portfolios, investing in production technologies, and forging strategic partnerships to capitalize on the growing demand for functional mushrooms globally.
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Functional Mushroom Market: Partnership and Acquisitions
- In 2023, Applied Food Sciences Inc. (AFS) partnered with KÄÄPÄ Biotech to diversify its product range with functional mushroom extracts sourced from Nordic cultivation. AFS made an equity investment in KÄÄPÄ Biotech to ensure a sustainable supply of premium ingredients for the growing functional mushroom market.
- In 2022, Innomy, a Spanish company specializing in mushroom-based meat substitutes, announced €1.3 million (USD 1.26 million) in Pre Series A funding to expand its product presence across Europe. Highlighting mycelium’s nutritional benefits, Innomy aims to capitalize on its potential as a promising protein source for the future.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 31,385.2 Million |
| Projected Market Size in 2033 | USD 83,598.7 Million |
| Market Size in 2023 | USD 28,148.2 Million |
| CAGR Growth Rate | 11.5% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Mushroom Type, Form, Distribution Channel, End Use and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
(A free sample of the Functional Mushroom report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request.
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
- Includes Tables and figures have been updated.
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Functional Mushroom report has been modified to include the COVID-19 impact study prior to delivery.)
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Functional Mushroom Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the Functional Mushroom Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Disruption in Supply Chains: The functional mushroom market experienced disruptions in its supply chains due to restrictions on movement, border closures, and lockdown measures imposed to curb the spread of COVID-19. These disruptions affected the sourcing of raw materials, manufacturing processes, and distribution channels, leading to supply shortages and logistic challenges.
- Shift in Consumer Behavior: The COVID-19 pandemic influenced consumer behavior, leading to changes in purchasing patterns and consumption habits. While demand for functional mushrooms surged initially due to their perceived immune-boosting properties, economic uncertainties and changes in lifestyle and spending priorities during the pandemic resulted in fluctuating demand and consumption patterns in the market.
- Product Innovation and Diversification: Market players can focus on innovation and diversification of product offerings to cater to evolving consumer preferences and emerging market trends post-COVID-19. This may involve the development of new functional mushroom-based products, formulations, and applications that align with changing consumer needs, such as convenient formats for home consumption and functional ingredients targeting specific health concerns.
- Digital Transformation and E-commerce Expansion: Embracing digital transformation and expanding online sales channels can help functional mushroom businesses adapt to changing consumer behavior and market dynamics post-COVID-19. Investing in e-commerce platforms, digital marketing strategies, and online distribution networks can enable companies to reach a broader audience, enhance brand visibility, and capture new market opportunities in the digital marketplace.
- Supply Chain Optimization and Resilience: Strengthening supply chain resilience and optimizing logistics networks are critical for the recovery of the functional mushroom market. Market players can invest in building robust supply chain infrastructure, diversifying sourcing options, and implementing risk mitigation strategies to mitigate future disruptions and ensure an uninterrupted supply of raw materials and finished products to meet market demand effectively.
- Consumer Education and Health Awareness Campaigns: Educating consumers about the health benefits and nutritional properties of functional mushrooms through targeted marketing campaigns and health awareness initiatives can help drive demand and stimulate market growth post-COVID-19. Providing transparent information about product efficacy, safety, and sourcing practices can enhance consumer trust and confidence in functional mushroom products, thereby fostering market recovery.
In conclusion, the COVID-19 pandemic has had a mixed impact on the Functional Mushroom Market, with some challenges and opportunities arising from the pandemic.
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Key questions answered in this report:
- What is the size of the Functional Mushroom market and what is its expected growth rate?
- What are the primary driving factors that push the Functional Mushroom market forward?
- What are the Functional Mushroom Industry's top companies?
- What are the different categories that the Functional Mushroom Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Functional Mushroom market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2024−2033
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Functional Mushroom Market – Regional Analysis
The Functional Mushroom Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:
- North America: In North America, there’s a trend towards product innovation and diversification, with companies introducing novel functional mushroom formulations and applications to cater to diverse consumer preferences. Additionally, there’s a growing emphasis on sustainability and transparency, with consumers favoring brands that prioritize eco-friendly practices and ethical sourcing of ingredients.
- Europe: Europe is experiencing a surge in demand for organic and certified functional mushroom products, driven by a strong emphasis on health and wellness. Consumers in this region are increasingly seeking natural and holistic remedies, leading to the popularity of functional mushrooms as dietary supplements and functional ingredients in food and beverages. There’s also a trend towards premiumization, with consumers willing to pay a premium for high-quality, artisanal mushroom products.
- Asia-Pacific: In the Asia-Pacific region, there’s a long-standing tradition of using mushrooms for their medicinal properties, leading to a robust market for functional mushroom products. Key trends include the integration of functional mushrooms into traditional medicine systems such as Ayurveda and Traditional Chinese Medicine (TCM), as well as the popularity of mushroom-based tonics and beverages. Additionally, there’s a growing focus on product localization, with companies tailoring their offerings to suit specific regional tastes and preferences.
- LAMEA (Latin America, Middle East, and Africa): In LAMEA, there’s a growing awareness of the health benefits of functional mushrooms, particularly among urban consumers seeking natural alternatives to conventional medicine. Key trends include the adoption of functional mushroom products in beauty and personal care applications, as well as the emergence of mushroom-infused culinary delights in upscale restaurants. Additionally, there’s a trend towards market expansion, with companies targeting untapped consumer segments in rural areas and emerging markets within the region.
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Browse the full “Functional Mushroom Market Size, Trends and Insights By Mushroom Type (Reishi, Chaga, Cordyceps, Lion's Mane, Shiitake, Maitake, Turkey Tail, Others), By Form (Whole mushroom, Powder, Extract, Capsules/Tablets, Liquid Extracts, Others), By Distribution Channel (Online, Offline), By End Use (Dietary Supplements, Pharmaceuticals, Food and Beverages, Cosmetics and Personal Care, Animal Feed, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” Report at https://www.custommarketinsights.com/report/functional-mushroom-market/
List of the prominent players in the Functional Mushroom Market:
- Four Sigmatic
- Real Mushrooms
- Mushroom Wisdom Inc.
- Fungi Perfecti
- Om Mushrooms
- Pure Essence Labs
- Host Defense Mushrooms
- Swanson Health Products
- Nature’s Way Products LLC
- Aloha Medicinals Inc.
- Myriad Mycology
- Terrasoul Superfoods
- Mushroom Harvest Inc.
- Sayan Chaga
- Life Cykel
- Others
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The Functional Mushroom Market is segmented as follows:
By Mushroom Type
- Reishi
- Chaga
- Cordyceps
- Lion’s Mane
- Shiitake, Maitake
- Turkey Tail
- Others
By Form
- Whole mushroom
- Powder
- Extract
- Capsules/Tablets
- Liquid Extracts
- Others
By Distribution Channel
- Online
- Offline
By End Use
- Dietary Supplements
- Pharmaceuticals
- Food and Beverages
- Cosmetics and Personal Care
- Animal Feed
- Others
Click Here to Get a Free Sample Report of the Global Functional Mushroom Market @ https://www.custommarketinsights.com/report/functional-mushroom-market/
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
This Functional Mushroom Market Research/Analysis Report Contains Answers to the following Questions.
- Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Functional Mushroom Market? What are Their Company Profile, Product Information, and Contact Information?
- What Was the Global Market Status of the Functional Mushroom Market? What Was the Capacity, Production Value, Cost and PROFIT of the Functional Mushroom Market?
- What Is the Current Market Status of the Functional Mushroom Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Functional Mushroom Market by Considering Applications and Types?
- What Are Projections of the Global Functional Mushroom Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Functional Mushroom Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is the Economic Impact On Functional Mushroom Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Functional Mushroom Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Functional Mushroom Industry?
Click Here to Access a Free Sample Report of the Global Functional Mushroom Market @ https://www.custommarketinsights.com/report/functional-mushroom-market/
Reasons to Purchase Functional Mushroom Market Report
- Functional Mushroom Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- Functional Mushroom Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Functional Mushroom Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Functional Mushroom Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the global Functional Mushroom market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
Buy this Premium Functional Mushroom Research Report | Fast Delivery Available - [220+ Pages] @ https://www.custommarketinsights.com/report/functional-mushroom-market/
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Functional Mushroom market analysis.
- The competitive environment of current and potential participants in the Functional Mushroom market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Functional Mushroom market should find this report useful. The research will be useful to all market participants in the Functional Mushroom industry.
- Managers in the Functional Mushroom sector are interested in publishing up-to-date and projected data about the worldwide Functional Mushroom market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Functional Mushroom products' market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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