Functional Mushroom Market is projected to grow at a CAGR of 9.6% during the forecast period, 2022-2029 | Size, Share, Growth & Forecast

Functional Mushroom Market is estimated to rise at a higher CAGR of 9.6% over the forecast period, 2022-2029.

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The factors driving the growth of the Functional Mushroom Market includes increasing use of functional mushrooms in different beverages such as beverages such as smoothies, Cordyceps and chaga, expansion of the pharmaceutical industry, growing awareness amongst consumers about the benefits of consuming mushrooms and improvements in the living standards. Moreover, increasing application of functional mushrooms as an ingredient in cosmetic and personal care products, growing adoption of advanced technologies by manufacturers, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, increasing investments by major corporations on research and development, strategic mergers and alliances between key industry leaders and growing population growth rates, are further contributing towards the market growth.

However, growth of the Functional Mushroom Market is hindered due to growing concerns related to allergies and side-effects of functional mushrooms.

The leading players operating in the market are Yuguo Farms, Four Sigmatic, South Mill Champs, Half Hill Farm Inc, Real Mushrooms, Pan's Mushroom Jerky, Banken Champignons Groep BV, OKECHAMP SA, Om Organic Mushroom Nutrition and BONDUELLE, among others.

Based on Product Type, the Cordyceps segment is predicted to grow at a significant CAGR during the forecast period

Increasing demand for cordyceps in the Pharmaceutical and Food and Beverage Industry owing to its medicinal properties, is the major factor propelling Functional Mushroom Market size.

Based on Application, the Dietary Supplements segment is projected to expand at a remarkable CAGR over the forecast period

Increasing use of functional mushrooms as an ingredient in the dietary supplements owing to its health benefits, pushing growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period

Growing consumption of mushrooms across Japan, South Korea and China, rising awareness about the health benefits of functional mushrooms, rapid urbanization, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.

Key Development

In 2021, South Mill Champ acquired The Mushroom Company, which has enhanced the production capabilities.

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

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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