PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1462925
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1462925
Medicinal Mushroom Market size was valued at USD 5,123.45 Million in 2023, expanding at a CAGR of 8.6% from 2024 to 2032.
Medicinal mushrooms, fungi renowned for their therapeutic properties, have been integral to traditional medical systems like Traditional Chinese Medicine (TCM) and Ayurveda for centuries. These mushrooms contain bioactive compounds such as polysaccharides, beta-glucans, triterpenoids, and antioxidants, contributing to their medicinal benefits. Varieties like reishi (Ganoderma lucidum), shiitake (Lentinula edodes), maitake (Grifola frondosa), and cordyceps (Cordyceps sinensis) are celebrated for potential health advantages, including immune modulation, anti-inflammatory effects, antioxidant activity, and support for cardiovascular health, cognitive function, and stress reduction. Medicinal mushrooms find applications in dietary supplements, extracts, teas, culinary dishes, herbal formulations, and medicinal preparations, promoting overall well-being and addressing specific health issues.
Medicinal Mushroom Market- Market Dynamics
Increasing packaged food consumption due to busy lifestyles to propel market demand
As consumer awareness of health preservation grows, protein-rich diets gain traction. Increased packaged food consumption due to busy lifestyles also aids industry expansion. Food manufacturers enhance products with functional mushroom extracts or powders to appeal to health-conscious consumers. Long-term prospects involve functional mushrooms in various healthcare and pharmaceutical products, as they combat viruses and enhance immunity. In the market for medicinal mushrooms and mushroom-based products, companies prioritize product quality, safety, and efficacy to meet consumer demand for natural health solutions. Research and development investments explore pharmacological properties, therapeutic mechanisms, cultivation, and extraction techniques to maximize bioavailability and potency of bioactive compounds. Sustainable sourcing practices, organic cultivation, and stringent quality control ensure product purity and authenticity.
Medicinal Mushroom Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.6% over the forecast period (2024-2032)
Based on Product Type segmentation, Reishi was predicted to show maximum market share in the year 2023
Based on Application segmentation, food and beverage was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Medicinal Mushroom Market is segmented on the basis of Product Type, Form, Application, and Region.
The market is divided into seven categories based on Product Type: Reishi, Cordyceps, Lions Mane, Turkey Tail, Shiitake, Chaga and Others. As of 2023, Reishi stands out as one of the most dominating species in the market. Reishi, scientifically known as Ganoderma lucidum, has garnered significant attention and popularity due to its rich history in traditional medicine and well-documented health benefits. Renowned for its immune-boosting properties, Reishi contains bioactive compounds such as polysaccharides, beta-glucans, and triterpenoids, which contribute to its therapeutic effects. It is widely recognized for its potential to modulate the immune system, reduce inflammation, and support overall well-being.
The market is divided into four categories based on Application: food & beverage, dietary supplements, pharmaceuticals, and other sectors. The food and beverage segment emerged as the leading category in the global industry in 2023, capturing the highest share of overall revenue. Consumer lifestyle shifts, urbanization trends, and rising disposable incomes are pivotal factors motivating individuals to embrace healthier dietary choices. Consequently, consumers worldwide are incorporating functional mushroom-infused foods and beverages into their diets.
Medicinal Mushroom Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
The market, highly competitive with numerous small players, sees key players like Nammex, Hirano Mushroom LLC, CNC Exotic Mushrooms, Hokkaido Reishi Co. Ltd, and Mitoku Company focusing on expansion through increased production capacity. Nammex and Hokkaido Reishi Co. Ltd lead in the functional mushroom market. Product innovation and expansion, driven by market dynamics, are key strategies. Key players emphasize expansion and innovation to meet rising product demand.
In September 2022, Innomy, a Spanish firm specializing in mushroom-based meat substitutes, secured €1.3 million(USD 1.26 million) in a Pre Series A fundraising round to expand and market its products across Europe. Innomy highlights mycelium's high nutritional value, low cholesterol, and low saturated fat content, positioning it as a promising protein source for the future.
GLOBAL MEDICINAL MUSHROOM MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
DXN Holdings Bhd
Asia Pacific Farm Enterprises Inc.
Banken Champignons B.V.
Bio Botanica Inc.
Concord Farms
Aloha Medicinals
Far West Fungi
Four Sigmatic Foods Inc.
Fungi Perfecti LLC
Natures Way Products LLC
Gourmet Mushrooms Ltd.
Nikkei Canada Marketing Ltd.
Nyishar
Oriveda BV
PREMIUM HOKKAIDO Co. Ltd.
Others