Functional Mushroom Market - Forecast(2023 - 2028)

Functional Mushroom Market Overview

Functional Mushroom market size is forecast to reach $15.9 billion by 2026, growing at a CAGR of 7.0% during the forecast period 2021-2026. Functional Mushrooms are the form of mushrooms that grows on the Himalayan plateau and possess nutritional value along with antioxidants (selenium, vitamin C) that helps in strengthening immune systems. Different types of functional mushroom are there such as Reishi Cordyceps Fungus, Turkey Tial, and Chaga among others. It is beneficial with high protein and lower calories as it provides vital minerals and multiple vitamins. Flavors of the functional mushrooms are formed from the volatile organic compounds. It has several medicinal properties. Increasing application of functional mushroom as a functional ingredient in the medical sector and increasing awareness regarding the consumption of the functional food are the major factors driving the growth of the market. Increasing usage of functional mushroom in the health supplements and technological advancements is set to further enhance the overall market development of the Functional Mushroom Market for the period 2021-2026.

Functional Mushroom Market Report Coverage

Key Takeaways

• North America dominated the Functional Mushroom Market in 2020 owing to the increasing awareness regarding functional mushroom and increasing demand for personal & cosmetic industry. The Functional Mushroom market scope for different regions will be provided in the final report.
• Increasing preference of consumers towards cosmetic products and increasing demand for eco-friendly & sustainable food products are likely to aid the market growth of the Functional Mushroom Market report.
• Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Functional Mushroom Market report.
• Increasing competition and increasing concerns regarding the allergies associated with the functional mushroom is poised to create the hurdles for the Functional Mushroom Market.

Functional Mushroom Market Revenue Share, By Geography, 2020(%)

Functional Mushroom Market Segment Analysis – By Extraction Process

Shiitake held the largest share in the Functional Mushroom Market in 2020 and is estimated to grow at a CAGR 7.8% during the forecast period 2021-2026. This is owing to the increasing health properties as they have medicinal and nutritional benefits. It supports cardiovascular health, help in weight loss, improve energy levels, and fight cancer cells. It is also used for boosting the immune system and for treating HIV and many other conditions. Reishi Cordyceps Fungus is a parasitic fungus that rows on the larvae of insects. It replaces their tissues and slender stems that grow outside the host’s body. Shiitake are estimated to register the higher CAGR over the period 2021-2026.

Functional Mushroom Market Segment Analysis – By Application

Food & Beverage held the largest share in the Functional Mushroom Market in 2020 and is estimated to grow at a CAGR 7.5% during the forecast period 2021-2026. This is owing to its properties such as antitumor, antimicrobial properties, and antioxidant. Functional mushroom contains all essential amino acids that are required by the human. It also offers various benefits that help loss of weight, fight against cancer, improves the functioning of brain, and assist in cardiovascular health. Increasing use of functional mushroom as a dietary supplements to seek for high protein and low calorie diet and increasing usage in the health supplements is increasing the growth of the segment. Changing preferences of the consumer towards their health benefits and expansion of food & beverage industry is also increasing the growth of the segment. Food & Beverage are estimated to register the higher CAGR over the period 2021-2026.

Functional Mushroom Market Segment Analysis – By Geography

North America dominated the Functional Mushroom Market with a major share of 33.8% in 2020. This is attributed to the increasing government initiatives to enhance consumer knowledge towards new innovations in the field of functional mushroom, and increasing focus on the research & development to adopt functional mushroom in medicinal formulations that offers health benefits. Increasing inclination of the functional mushroom consumers towards the natural products, and increasing number of applications in the healthcare sector is also increasing the growth of the market in this region.

However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing ability of the functional mushroom in lowering cholesterol levels in the body, and proper health functioning. Increasing usage of the functional mushroom in reducing blood pressure, enhancing bone strength, and increasing awareness towards the lifestyle disorders is increasing the growth of the market in this region.

Functional Mushroom Market Drivers

Increasing Prevalence of Cardiovascular Diseases

Increasing prevalence of cardiovascular diseases is increasing the growth of the Functional Mushroom Market. Some of the major causes of cardiovascular disease includes unhealthy diet, usage of tobacco, and physical inactivity among others that raises the blood pressure and blood glucose causing overweight and obesity. According to WHO, Four out of 5 cardiovascular deaths are owing to heart attacks and strokes. Thus, increasing the growth of the Functional Mushroom Market during the forecast period 2021-2026.

Rising Prevalence of Chronic Diseases

Rising prevalence of chronic diseases is increasing the growth of the Functional Mushroom Market. Leading cause of death around the world is owing to the chronic diseases. It is estimated that around 29% of the death is owing to the chronic diseases. 40.5% of the U.S. population suffers from the diseases. Functional mushroom contains vitamin C along with amino acids that helps to maintain a healthy diet. Thus, increasing the growth of the Functional Mushroom Market during the forecast period 2021-2026.

Functional Mushroom Market Challenges

Increasing Competition and Increasing Awareness Regarding the Allergies Associated With the Functional Mushroom

Some of the factors that are set to impede the growth of the Functional Mushroom Market are increasing competition and increasing awareness regarding the allergies associated with the functional mushroom.

Functional Mushroom Market Landscape

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Functional Mushroom Market. In 2020, the Functional Mushroom Market share is consolidated by the top ten players present in the market. The Functional Mushroom Market, top 10 companies are Real Mushrooms, Monterey Mushrooms Inc., Modernmush, Monaghan Mushrooms, Banken Champignons, The Mushroom Company, and Yugo Farms among others.

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