Functional Mushroom Market: Industry Overview, Trends and Growth Opportunities Forecasted Till 2030

Functional mushroom Market by Product Type, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030. The global functional mushroom market size was valued at $7,981.2 million in 2020, and is projected to reach $19,331.5 million by 2030, registering a CAGR of 9.3%. Asia-Pacific was the highest revenue contributor, accounting for $3,717.6 million in 2020, with a CAGR of 9.0%. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Surge in functional food & beverage product applications, rise in usage of plant-based ingredients in personal care & cosmetics, and increase in health consciousness drive the growth of the global functional mushroom market. However, high prices of the products and low reproducibility hinder the market growth. On the other hand, rise in demand for organic reishi mushroom products and usage of mushrooms as a supplement to meat products present new opportunities in the coming years.

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Covid-19 Scenario:
Owing to lockdown measures, there have been disruptions in the food & beverages industry. Manufacturing activities hindered and the supply chain disrupted during the Covid-19 pandemic. This impacted the revenue of the functional mushroom market. However, supermarkets and wholesale markets were closed due to lockdown measures. This impacted the sales of functional mushrooms. However, the sales volume would grow steadily as the demand for healthy food items increase post-lockdown.

The report offers detailed segmentation of the global functional mushroom market based on product type, application, distribution channel, and region.
Based on product type, the reishi segment accounted for the largest share in 2020, contributing to nearly two-fifths of the total share, and is expected to maintain its leadership status during the forecast period. However, the lion's mane segment is projected to manifest the largest CAGR of 9.9% from 2021 to 2030.

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Based on application, the pharmaceutical, nutraceutical, & dietary supplements segment held the highest share in 2020, contributing to more than two-fifths of the total share of the global functional mushroom market, and is estimated to maintain its dominance during the forecast period. However, the food & beverages segment is projected to manifest the highest CAGR of 9.8% from 2021 to 2030.

On the basis of region, Asia-Pacific was the prominent market for functional mushroom in 2020. Functional mushroom and its products have experienced tremendous popularity and substantial consumption in the region for centuries. Furthermore, China has been the largest producer and consumer of functional mushroom products. However, the North America region is expected to witness a significant CAGR. Consumers in this region have been more inclined toward health-conscious products which includes functional food & beverages due to of lifestyle changes. As thus, the demand for plant-based food supplements is anticipated to gain high traction.

The players in the functional mushroom market have adopted product launch and business expansion as their key development strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Hokkaido Reishi Co., Ltd. (Japan), half hill farm inc, Real Mushrooms, Pan's Mushroom Jerky, Om Organic Mushroom Nutrition, Yuguo Farms, Four Sigmatic, South Mill Champs, Banken Champignons Groep BV, and Swadeshi Mushroom Spawn.

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