Market Overview:
Global Medicinal Mushroom Market Size Was Valued at USD 232.62 million In 2022 And Is Projected to Reach USD 436.98 million By 2030, Growing at A CAGR of 8.2% From 2023 To 2030.
Medicinal mushroomsare fungal organisms specifically basidiomycetes that are recognized as superfoods, nutritional supplements, and nutraceuticals. They form a part of the very extensive natural health products category in Asia where Traditional Chinese Medicine has utilized herbal preparations for thousands of years. In addition, Asia is also regarded as a historical site for mushroom cultivation. The cultivation of Shiitake, a medicinal mushroom has been reported to have originated in China in the 12th century and China produces 70% of the world's mushrooms. Eastern medicine practices have been utilizing medicinal mushrooms for thousands of years and have gained more popularity in recent times. Moreover, there are about 14,000 species of mushrooms worldwide, out of which 350 species are consumed around the globe.
Top Key Players in Medicinal Mushroom Market:
FreshCap Mushrooms LTD. (Canada), Banken Champignons B.V. (Netherlands), Far West Fungi (US), Swadeshi Mushroom (India), DXN (Malaysia), Nikkei Marketing Limited (Canada), Chaga Mountain Inc (US), Asia Pacific Farm Enterprises (Canada), NC Exotic Mushrooms (Netherlands), Bonduelle SA (France), Nammex (Canada), Naturalin (China), Real Mushrooms (Canada), Mitoku (Japan), Hirano Mushroom LLC (Serbia), Gourmet Mushrooms Inc. (US), and Other Major Players.
Market Dynamics and Factors for Medicinal Mushroom Market:
Drivers:
Popularity Among Consumers, Pleasant Taste, And Unique Flavors
The rapidly increasing demand for medicinal mushrooms owing to their popularity among consumers, pleasant taste, and unique flavors is the main driving force for the expansion of the medicinal mushroom market over the projected period. Medicinal mushroom contains bioactive compounds such as high-quality proteins, polysaccharides, unsaturated fatty acids, minerals, triterpene sterols, and secondary metabolites thus, making them an important commodity for medicinal usage. Medicinal mushroom is popular for their ability to protect from or cure various health disorders, such as hypertension, immunodeficiency, cancer, inflammation, hypercholesterolemia, hyperlipidemia, and obesity. Several scientific studies have illustrated the medicinal properties of some mushrooms, supported by both in vivo and in vitro experimental studies, as well as clinical trials thus, promoting the expansion of the medicinal mushroom market during the period of forecast.
Opportunities:
Gain Health-Promoting Popularity in Processed Foods
There has been a significant increase in the demand for medicinal mushrooms attributed to their health-promoting benefits thus, creating a profitable opportunity for market players to add mushroom extracts in different processed food products. There are 270 documented species of mushrooms as sources of important secondary metabolites, which can be utilized as food supplements. Even though only a handful of the 270 documented species of medicinal mushrooms are considered nutraceuticals. Many edible mushrooms are expected to be classified as nutraceuticals in the forecast period. Medicinal mushrooms have been traditionally utilized by different cultures throughout the world for the prevention and treatment of many diseases.
Segmentation Analysis of the Medicinal Mushroom Market:
By form, the dried segment is forecasted to have the highest share of the medicinal mushroom market in the forecast period. Dried mushrooms are not manufactured for immediate consumption but as an ingredient after rehydration.
By type, the Shiitake segment is forecasted to dominate the medicinal mushroom market. Shiitake mushrooms in the dried form are a great source of umami flavor. This mushroom can also be utilized as a meat substitute as it contains all the amino acids found in the meat thus, making it one of the healthiest mushrooms which can be consumed by individuals following a meat-free diet.
Regional Analysis of the Medicinal Mushroom Market:
The Asia-Pacific region is forecasted to dominate the medicinal mushroom market during the forecast period attributed to the growing inclination of consumers towards the benefits of medicinal mushrooms and an upsurge in the cultivation of mushrooms. Moreover, in this region, medicinal mushrooms have been utilized since ancient times. Furthermore, China is a prominent producer and a leading exporter of mushrooms all over the world. In addition, China has developed significant breeding and cultivation techniques for edible mushrooms, as well as product innovations, which has led to an increase in the production of mushrooms. The supportive government initiatives for the production of mushrooms are one of the vital components driving the expansion of the market in this region.
Key Industry Development:
In February 2021, FreshCap Mushrooms LTD., a global leading manufacturer of mushroom-derived nutrition products, declared the launch of three new functional mushroom beverage products. Mushroom Coffee, Focus Lion's Mane Elixir, and Unwind Reishi Elixir are the newly launched products. These new products are manufactured to offer individuals with refreshing drinks in their leisure time.
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- US
- Canada
- Mexico
Eastern Europe
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Russia
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
