The global functional mushroom market size was evaluated at $15.3 Billion in 2022 and is slated to hit $23.3 Billion by the end of 2030 with a CAGR of nearly 10.1% between 2023 and 2030.
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➤ The government is encouraging investments in the production of functional beverages in order to influence global market trends.
The global expansion of the functional mushroom market is anticipated to be driven by the widespread use of functional mushroom powder in personal care products and cosmetics. Additionally, the global market will be driven by the anti-wrinkle, antioxidant, and anti-wrinkle properties. Furthermore, functional mushrooms are employed as skin whitening and moisturizing agents in cosmetic products, thereby broadening their potential applications in the personal care and cosmetics industry.
➤ The global industry’s expansion may be hindered by the product’s short lifespan.
The global functional mushroom industry may be hindered by the high cost of products and the increasing availability of protein alternatives. Furthermore, the industry’s expansion worldwide will be impeded by the stringent enforcement of laws concerning the commercialization of functional mushrooms. A significant number of mushrooms have a brief lifespan, necessitating processing, refrigeration, and preservation during the harvesting process to reduce post-harvest losses. This factor has the potential to impede the industry’s global expansion.
➤ The global market will experience new growth opportunities as a result of the increasing emphasis on research related to the production of exotic mushroom variants.
New growth avenues for the global functional mushroom market will be generated by an increase in research activities for the production of exotic mushroom variantss. In addition, the global market surge will be further expanded in the coming years by the increasing demand for natural goods and healthy diets.
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The Global Functional Mushroom Market is segmented based on product, application and region
Global Functional Mushroom Market: Product Segment Analysis
● Lion’s Mane
● Reishi
● Chaga
● Cordyceps
● Shilitake
Global Functional Mushroom Market: Application Segment Analysis
● Food & Beverages
● Pharmaceuticals
● Food Supplements
● Personal Care
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The global Functional Mushroom market profiles key players such as:
● Way of Will Inc.
● Monaghan Group
● Nammex
● M2 Ingredients
● Rebbl
● Mitoku Company
● Hokkaido Reishi Co. Ltd.
● Monterey Mushrooms Inc.
● Lianfeng (Suizhou) Food Co. Ltd.
● Sotru
???? Recent Developments
• In the second quarter of 2019, For the Biome, a skincare brand, collaborated with Om Mushroom Superfood, a significant producer of functional and organic mushroom powder, to introduce health and wellness food products. Moreover, the partnership has facilitated the introduction of new products, including the Invigorate Powder Mask and Adapt Essence Spray, which incorporate reishi, lion’s mane, and Chaga mushrooms. The demand for functional mushrooms will be increased in the years to come as a result of the move.
• Nammex, a significant Canadian participant in the wholesale organic medicinal mushroom extracts industry, transitioned to an online presence in response to an increase in product demand during the COVID-19 pandemic in the first half of 2021. The firm has significantly contributed to the global industry growth and improved its online presence as a result of the transition.
➤ In the forecasting timeline, the North American functional mushroom market is expected to experience exponential growth.
It is anticipated that the North American region will continue to dominate the global functional mushroom market growth over the forecast timeline, as it accounted for half of the global market share in 2022. The regional market expansion from 2023 to 2030 may be attributed to the growing popularity of mushrooms as nutrients. In addition, the regional market will experience substantial development in the years ahead as a result of the increasing consumption of the product in countries like the United States. Growth in the regional market will be driven by an increase in consumer awareness regarding the enhancement of personal health.
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