The GMI Research predicts that the Functional Mushroom Market will experience an escalation in demand over the forecast period. This is mainly due to their remarkable switch in the lifestyles and diet patterns of individuals, increasing cases of lifestyle diseases, rapid urbanization, and their growing incorporation in health supplements.
Introduction of the Functional Mushroom Market
Functional mushrooms are different variety of mushrooms offering more benefits than ordinary mushrooms. They provide various medicinal properties with flavor-enhancing benefits. They are popular for their health benefits and have several vitamins required by the human body.
Their rising usage as a functional ingredient in the medical sector along with the growing awareness associated with their consumption drives the market growth.
Key Players of the Market:
- Banken Champignons Groep BV
- Four Sigmatic
- Om Organic Mushroom Nutrition
- Real Mushrooms
- OKECHAMP SA
- South Mill Champs
- Yuguo Farms
- Pan’s Mushroom Jerky
- Half Hill Farm Inc
Functional Mushroom Market Dynamics
The rising prominence of functional mushrooms in the food and medical sector and increasing application of mushroom species, such as reishi, Chaga, and cordyceps to prepare conventional medicines accounts to be the prominent drivers contributing to the growth of the global functional mushroom market.
Also, their reference as ‘healing mushrooms’ in the pharmaceutical sector owing to their assistance in enhancing skin glow, balancing the energy level, and strengthening the immune system has bolstered the functional mushroom market size.
The “Journal of Nutrition and Food Sciences,” states that mushrooms provide 130 medicinal functions and are also employed as an antioxidant and for antitumor, antidiabetic purposes, which has further paved the way for market growth.
Additionally, favorable initiatives by leading market players, which include procurement and amplification add to the market growth. Half Hill Farm Inc., in 2019, commenced two stores in the U.S.
Which enlarges the reach of consumers by filling the demand gap. In 2021, South Mill Champs enlarged mushroom processing to raise the production capacity, which supplemented the market growth.
However, the apprehension concerned with the negative impacts and allergies of the ingredient is curbing the growth of the global functional mushroom market size.
Product Type Segment Drivers
Based on the product type, cordyceps is contemplated to expand at a higher rate because of their aggravating demand from the medication and food & beverage industry.
Also, it is a form of mushroom species traditionally used for medication, and the substantial shift towards healthy eating has propelled the market growth.
Application Segment Drivers
Based on the application, dietary supplements are projected to experience significant growth in the near future. This is owing to the growing consciousness of their health benefits in the population and prudent initiatives by the key players like amalgamation and introduction.
In accordance with the “International Nut and Dried Fruit Council”, European Countries like Germany, Greece, and Spain, over 70% of the healthy food was procured which reflects the strong potential of consumer and market. Way of Hill in 2021 officially inaugurated functional mushrooms capsules and powder to proliferate the market growth
Based on the regional coverage, Asia-Pacific will dominate the market over the forecast period due to their flourishing consumption in Japan, China, and India.
Also, functional mushroom market research report, the sudden outbreak of the coronavirus pandemic has amplified the market demand, especially in China, because of the increasing recognition across individuals about their common health products and medical properties.
Functional Mushroom Market Segmentation:
Segmentation by Product Type
- Lions Mane
- Turkey Tail
Segmentation by Application
- Food and Beverage
- Dietary Supplements
- Personal Care
Segmentation by Region:
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
About GMI Research
GMI is a consulting and market research company that offers business insights and research reports for every enterprise. Our team helps clients acknowledge the influence of market dynamics like size, share, drivers, growth opportunities, etc.
Our team of analysts and industry experts conducts market intelligence studies to ensure all relevant and fact-based research reaches a wide range of sectors. The organization accumulates all relevant information about the industry using internal and external databases.
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