The Worldwide Functional Mushroom Industry is Expected to Reach $13.6 Billion by 2027 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Functional Mushroom Market By Application, By Product Type, By Distribution Channel, By Regional Outlook, Industry Analysis Report and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.

The Global Functional Mushroom Market size is expected to reach $13.6 billion by 2027, rising at a market growth of 8.7% CAGR during the forecast period.

Functional mushrooms, also known as medicinal mushrooms are relatively uncommon mushrooms that grow in dark forests, on fallen logs, or on the Himalayan plateau. These mushrooms are famous for being high in antioxidants and nutritional content, with a variety of health benefits. Because of their medical properties and superfood benefits, these mushrooms have been used for hundreds of years.

The popularity of these mushrooms has increased owing to the extensive study that has accompanied them over the years, as well as the increased demand for natural health remedies. Certain functional mushrooms can help in enhancing immune system, which is expected to enable a person's body to fight against infections more effectively.

Chaga mushrooms are a powerhouse of antioxidants, making them the strong productin the fight against free radicals and inflammation. It is adark black mushroom thatfights oxidative stress (which has been linked to skin aging), may prevent or reduce cancer growth, and has been proven to reduce LDL or badcholesterol. The majority ofresearch on chagahas been done on human cells and mice, yet all evidence points to this mushroom being beneficial for human consumption.

There are many people who are increasingly incorporating functional mushrooms in their diet. There are a wide range of functional mushroom products available in the market like mushroom powders. Additionally, searching a high-quality mushroom supplement is the simplest method to enrich a person's diet. Functional mushroom supplements are not freshly available in supermarkets, but they can be used for a longer period of time in cooking, making smoothies, protein drinks, and teas.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic has significantly impacted the demand and growth of the functional mushroom market. Since supply chain was severely disrupted owing to the imposition of complete lockdown in many countries, the demand for functional mushroom supplements was declined in the market.

On the other hand, the growing awareness among people regarding the importance of maintaining a good health and better immune system along with the increasing adoption of nutraceuticals and dietary supplements is expected to positively impact the demand for functional mushroom in the recovery phase of the pandemic.

Market Growth Factors:

Rising prevalence of cardiovascular and chronic diseases

The market for functional mushrooms is growing as the prevalence of cardiovascular disorders rises. Unhealthy diets, cigarette use, and physical inactivity are only a few of the key causes of cardiovascular disease, which elevate blood pressure and blood glucose levels, resulting in overweight and obesity. According to the World Health Organization, heart attacks and strokes account for four out of every five cardiovascular fatalities.

Rapid increase in the demand for functional foods and dietary supplements

Over the last two decades, people's lifestyles and eating habits have changed dramatically. This transition was fuelled by urbanisation and consumerism, which resulted in a massive rise in the use of synthetic food products, leading to an increase in the incidence of lifestyle diseases. Hence, people are becoming more aware of the issues. As a result, individuals are rapidly moving to functional foods and beverages, which are marketed as providing benefits beyond basic nutrition.

Marketing Restraining Factor:

Availability of numerous alternatives and lack of skilled workforce

There is an availability of various products and ingredients that are substitute of functional mushrooms and its products. In addition, many people prefer plant-based products who will not readily adopt functional mushroom products. Also, some people are allergic to mushrooms, which is expected to restrict the consumption of functional mushroom products. Along with that, there are many manufacturers who are using different alternatives of functional mushrooms in the manufacturing of their products.

Scope of the Study

Market Segments Covered in the Report:

By Application

• Pharmaceutical, nutraceutical & dietary supplements
• Food & Beverage and
• Personal Care & Cosmetics

By Product Type

• Reishi
• Cordyceps
• Lion's Mane and
• Others

By Distribution Channel

• Specialty Stores
• Supermarkets & Hypermarkets
• Online Distribution Channel and
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Key Market Players

• Hokkaido Reishi Co. Ltd.
• Real Mushrooms
• Pan's Mushroom Jerky
• Om Mushroom Superfood
• Four Sigmatic
• Banken Champignons B.V.
• South Mill Mushrooms Sales, Inc. (The Mushroom Company)
• Half Hill Farm, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/bbj8ex

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