Functional Mushroom Market Size & Growth Trends

Functional Mushroom Market Size & Growth Trends - Lucid™

Cite this Article: Austin, Kat. “Functional Mushroom Market Size & Growth Trends”, December 31, 2023, 

Among the landscape of wellness and dietary advancements, the Functional Mushroom Market stands as a beacon of health innovation. This market's growth reflects an expanding interest in harnessing the myriad benefits of functional mushrooms, both for supplemental and pharmaceutical use. 

Curious about the Functional Market Mushroom Market size, growth trends, and outlook? Join us as we navigate the dimensions of this thriving industry, exploring its global and regional value, burgeoning trends, and the dynamic forces propelling its remarkable growth.

Let’s jump in:

Market Size:

  • The global functional mushroom market was valued at USD 26.7 billion in 2021.
  • Expected CAGR of 10.8% from 2022 to 2030.
  • In 2023, the market value was estimated at USD 29.89 billion with a steady CAGR of 8.44% between 2023 and 2028.
  • Global functional mushroom market is projected to reach USD 44.81 billion by 2028.

Drivers of Growth:

  • Grand View Research cites health benefits and increasing utilization in healthcare and pharmaceutical products as primary driving factors of growth for the industry.
  • Functional mushrooms experienced increased demand post-pandemic due to immunity-boosting properties.
  • Consumers also adopt functional mushrooms due to a growing preference for high-protein diets and a shift towards alternative protein sources for sustainability.

Specific Products and Application Insights

Mushroom Varieties

  • According to Grand View Research, shiitake mushrooms dominated the market in 2021 with a 34% revenue share.
  • According to MarkNTell Advisors, the 2022 global shiitake mushroom market hit around USD $810 billion, set to grow at about 7.8% CAGR from 2024 to 2030.
  • Reishi has the expected fastest CAGR over the forecast period of 2022 to 2030.
  • According to the Business Research Company, The global reishi mushroom market size is expected to grow from $3.39 billion in 2022 to $4.30 billion in 2023 at a CAGR of 3.4%.
  • The global reishi mushroom market is expected to reach 5.86 billion in 2027 at a CAGR of %8.0.
  • According to Verified Market Reports, the market size for lion’s mane mushroom extract in 2023 stood at USD $94.2 million.
  • Projections indicate that the lion’s mane extract market will grow to USD $162.7 million by 2030, marking a 7.2% CAGR from 2024 to 2030.

Food & Beverage

  • Functional mushroom food and beverage products dominate the global market.
  • All in, mushroom food and beverages accounted for over 42.10% of revenue within the market in 2021.

Regional Functional Mushroom Market

  • The mushroom market in North America has the fastest expected growth rate at 11.5% CAGR.
  • According to Virtue Market Research, the Asia-Pacific Mushroom Market was valued at USD $142 Million in 2022. It is projected to reach USD $266.75 Million by the end of 2030 with a CAGR of 8.2% between 2023-2030.
  • The European functional mushroom market is smaller but still growing. Data Bridge Market Research suggests that the market is growing at a 5.6% CAGR between 2022 to 2029 and is expected to reach USD $113,411.75 by 2029.

Key Companies Within Global Functional Mushroom Market

  • Way of Will Inc.
  • M2 Ingredients
  • Nammex
  • Hokkaido Reishi Co. Ltd.


Older post Newer post