Functional Mushroom Market Reaching US$ 22.3 Bn By 2032 - Comprehensive Research Report By FMI

The global functional mushroom market is projected to be valued at US$ 9.3 Bn in 2022. Expanding at a CAGR of 9.1% during the forecast period, the market size will reach US$ 22.3 Bn by 2032. Newly released data from Future Market Insights shows that global functional mushroom demand is projected to grow year-on-year (Y-o-Y) by 8.8% in 2022. Functional mushrooms are rare species having healing properties as they contain nutritional values and antioxidants, with a plethora of health claims and superfood benefits. These functional and adaptogenic mushrooms can boost immunity while promoting the overall health in a natural way.

Around 15 species of functional mushrooms are known for having medicinal and healing properties. Reishi, named as lingzhi in China, has been used in Chinese medicine for longevity for over 2,000 years, while Chaga is considered as the richest antioxidant mushroom that provides anti-inflammatory benefits while strengthening immune system. Further, Cordyceps, a parasitic and rare mushroom, is used for vitality, energy, and endurance worldwide.

Adaptogenic mushrooms are gradually emerging as an effective superfood. They increase energy levels, restore youthful glow of skin, keep hormone levels in check, and reduce brain fog.

Healing mushrooms, like Cordyceps, Tremella, Reishi, Oyster, Shiitake, and Enoki are being used in the health and wellness products as powdered supplements, which is expected to create opportunities for growth in the market.

In addition to this, increasing applications of functional mushrooms in non-alcoholic beverages and holistic pet care products will continue driving sales in the market over the assessment period.

“Rising awareness regarding the benefits of organic functional mushrooms, along with increasing interest and expenditure on nutrition and health supplements across the globe will dirve sales in the market in the forthcoming years,” says an FMI analyst.

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Key Takeaways from Market Study

• Based on nature, the organic functional mushroom segment will account for a dominant share in the market.
• In terms of applications, demand in the pet care industry is anticipated to remain high.
• By form, sales of powdered functional mushroom will continue gaining momentum through 2032.
• The U.S. will dominate the North America functional mushroom market owing to high demand from the food and beverage sector.
• China will account for a lion’s share in the East Asia functional mushroom market on the back of surging applications on sports nutrition.
• The U.K. will emerge as a lucrative pocket in the Europe functional mushroom market amid rising preference for organic food supplements.

Competitive Landscape

Key functional mushroom brands are looking for new strategic partnerships to diversify applications in food and beverage industry. Players are also focusing on developing nutritional and high-quality food solutions while being innovative with formulations to attract more customers. For instance:

• In 2020, Meghan Markle, the Duchess of Sussex, announced to invest in Clevr Blends, an LA-based brand which sells powdered coffee spiked with adaptogens, functional mushrooms, and probiotics.
• In November 2021, Odyssey Wellness LLC launched its RTD (ready-to-drink) line of functional and organic mushroom elixirs with the brew line including 4 delicious and unique flavor combinations, such as French Roast Oat Latte with Cordyceps, Lions Mane and Cocoa, Cold Brew Oat Latte with Cordyceps and Lions Mane, Berry White Tea with Chaga, Reishi, Turkey Tail, Maitake, Elderberry, and Shitake, and Chai Rooibos with Turkey Tail, Reishi, and Ashwagandha.

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Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global functional mushroom market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

Functional Mushroom Market By Category

By Nature:

• Organic
• Conventional

By Product Species:

• Reishi
• Shiitake
• Lion’s Mane
• Chaga
• Maitake
• Cordyceps
• Tremella
• Turkey Tail
• Enokitake
• Oyster Mushrooms
• Others

By Form:

• Liquid Sprays and Drinks
• Powders
• Capsules or Supplements
• Others

By Application:

• Food & Beverages
• Nutraceuticals & Dietary Supplements
• Pharmaceutical
• Sports Nutrition and Functional Items
• Cosmetics & Personal Care
• Pet Care Industry
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latestmarket research reportsand industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized andsyndicated market research reportsdeliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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