The global functional mushroom market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are the increase in demand for mushroom due to its health and nutritional benefits, as well as the use of the food ingredient by consumers suffering from a variety of medical conditions, including inflammation as a symptom due to its anti-inflammatory properties.
A wide range of healthcare and pharmaceutical products contain functional mushrooms. This broadens the range of applications for these mushrooms in the food and beverage industry. As functional mushrooms are increasingly incorporated into health supplements, use of these mushrooms as a functional ingredient in the medical industry is driving market growth. The market’s growth is also being fuelled by an increase in consumer awareness of benefits of eating functional foods.
Major Factors Driving Growth Of The Global Functional Mushroom Market:
The increased adoption of functional mushrooms by consumers due to their antioxidant content, which aids in boosting blood flow, strengthening immunity, and reducing stress, among other things, as well as widespread use of these ingredients as dietary options, particularly when one is looking for a low-calorie, high-protein diet, are driving functional mushroom market forward. Functional mushroom market is influenced by an increased use of functional mushrooms in healthcare and pharmaceutical products, as well as their widespread use in health supplements.
Factors Restraining Growth Of The Global Functional Mushroom Market:
Increasing competition and increased awareness about allergies associated with functional mushrooms are some of the factors that are expected to stymie the market’s growth.
Opportunities For Players Operating In The Global Functional Mushroom Market:
Focus on food safety standards, environmental protection, and raising awareness about safety of raw materials are factors that are expected to continue to open up lucrative business opportunities for major players and new entrants in the market. The increasing demand for exotic mushroom varieties and medicinal mushroom techniques are factors that are further expected to continue to support market growth in future.
Global Functional Mushroom Market Leading ProductType Segment:
Based on the product type segment, the shiitake segment is expected to reach the highest revenue share over the forecast period. This is due to the growing popularity of health properties, which include medicinal and nutritional benefits. It promotes cardiovascular health, weight loss, increased energy, and the fight against cancer cells. It is also used to boost immune system and treat HIV and a variety of other ailments. The parasitic fungus Reishi Cordyceps Fungus feeds on larvae of insects. It grows outside the host’s body and replaces its tissues and slender stems.
Global Functional Mushroom Market Leading Application Segment:
Based on the application segment, the food and beverage segment is expected to reach the highest revenue share over the forecast period. People’s lifestyles and eating habits have changed dramatically. This shift was fuelled by urbanization and consumerism, which resulted in a rapid increase in consumption of synthetic food products, leading to an increase in incidence of lifestyle diseases. Since people are becoming more aware of health issues, many of them are increasingly turning to functional foods and beverages, which are marketed as providing benefits beyond basic nutrition. These products are said to provide optimal nutrition while also lowering risks of diseases. Health-conscious consumers are increasingly interested in functional foods.
North America Accounts For Largest Revenue Share In Global Functional Mushroom Market:
North America region emerged as the largest market in the Functional Mushroom Market with the largest revenue share in 2020. Revenue growth in North America is mainly attributed to an increase in government initiatives aimed at increasing consumer awareness of innovations in the field of functional mushrooms, as well as a greater focus on research and development to incorporate functional mushrooms into medicinal formulations with health benefits. The market in this region is growing due to an increasing preference among functional mushroom consumers for natural products, as well as an increasing number of applications in the healthcare sector.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR In Global Functional Mushroom Market:
The Asia Pacific Functional Mushroom Market is expected to register the fastest growth in CAGR over the forecast period. China is the world’s largest mushroom producer in the Asian region. To meet the high demand for mushrooms and truffles on the international and domestic markets, the country engages in mushroom and truffle production. With the rising income levels of urban and rural consumers, as well as the transformation of comprehensive health awareness and consumption concepts, consumers across the market are placing a greater emphasis on food safety, nutrition, and consumption of healthy foods with specific medical benefits. Rapid growth of the catering industry also encourages mushroom growth in respective markets.
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Major Companies Profiled In The Report:
- Half Hill Farm Inc.
- Real Mushrooms
- Pan’s Mushroom Jerky
- Om Organic Mushroom Nutrition
- Yuguo Farms
- Four Sigmatic
- The Mushroom Company
- Banken Champignons Groep BV
- OKECHAMP SA
- Monaghan Mushrooms
- Monterey Mushrooms Inc
- Hirano Mushroom LLC
- CNC Exotic Mushrooms
- Mitoku Company Ltd.
- Lianfeng (Suizhou) Food Co. Ltd
- M2 INGREDIENTS
- Hokkaido Reishi Co. Ltd.
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