In this Functional Mushroom market report, industry trends have been explained on the macro level which makes it possible to summarize the market landscape and probable future issues. The report analyses and estimates general market drivers in the form of consumer demand, government policy and demand which are related to consumer buying pattern and thereby market growth and development. This market research report contains thorough analysis of market and numerous related factors that range from market drivers, market restraints, market segmentation, opportunities, challenges, and market revenues to competitive analysis. functional mushroom report is also useful when launching a new product or expanding the business regionally or globally
The global functional mushroom market is expected to gain significant growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.1% in the forecast period of 2022 to 2029 and is expected to reach USD 6, 06,260.80 thousand by 2029.
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Market Definition
Functional mushrooms are packed with antioxidants and nutritional value, with many health claims. These mushrooms have been widely used due to their medicinal properties and superfood benefits. Functional mushrooms help to strengthen immune systems and are also used as a dietary option that is low in calories and high in protein which is great for those lacking protein in their diet, in addition to providing multiple vitamins and essential minerals. The most widely used mushrooms for medicinal purposes are shiitake and reishi, among others.
YUKIGUNI MAITAKE CO., LTD., Monterey Mushrooms, Inc., Monaghan Mushrooms Group, Shandong Qihe Biotech Co., Ltd., Banken Champignons Groep BV, The Giorgi Companies, Inc., VLD Food Products Pvt. Ltd., Nammex, Shogun Maitake, Rain Forest Mushrooms, Wuling (Fuzhou) Biotechnology Co., Ltd., Smithy Mushrooms, Lianfeng (Suizhou) Food Co., Ltd, Mushroom King Farm, Maesyffin Mushrooms, Biobritte Agro Solutions Pvt Ltd, Ojas Farms, Farming Fungi, LLC, among others.
Global Functional Mushroom Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Shift in consumer preference toward functional foods
Functional foods have a specific set of added nutrients such as fiber, probiotics, prebiotics, minerals, and others—also, these types of food help overcome nutritional deficiencies. Functional foods are also useful in decreasing the risk of chronic diseases. Growing health concerns due to a rapidly changing lifestyle, especially in urban areas, are increasing consumers' preference for healthy and functional foods to a great extent. In addition, in the COVID-19 situation, consumers are looking for such functional food ingredients which help to increase their immunity level, so such a scenario positively impacts increasing preference for functional mushrooms.
- Positive outlook towards organic personal care
Functional mushroom has their specific benefits, and all functional mushrooms work to balance energy levels, strengthen immune function, smooth digestion, and enhance the skin's natural glow. Mushrooms are loaded with polyphenols, polysaccharides, beta-glucans, and antioxidant properties. Together and separately, all these compounds help support the immune system. Mushrooms also deliver a slew of dietary fiber, aiding in healthy digestion and increasing beneficial gut bacteria in the digestive system. As for skin-enhancing benefits, functional mushrooms have an overflowing amount of antioxidant properties. Glowing skin is also the result of whole-body health. Any dysfunction in the immune system or digestion will show up in the skin first. Supporting whole-body well-being with functional mushrooms often results in a smooth complexion. Mushroom ingredients find their way into skincare and supplements as the consumer quest for wellness endures. Beauty and wellness companies are increasingly tapping different types of mushrooms, including reishi, lion's mane, turkey tail, and Chaga, among others.
- Increase in acceptability of mushroom for medicinal properties
Mushrooms are a recognized component of the human diet, with versatile medicinal properties. Some mushrooms are popular worldwide for their nutritional and therapeutic properties. Mushrooms have long been valued as high medicinal and nutritional food by many societies worldwide. Mushrooms are consumed as a medicine in Asian countries, and much research works have been done on medicinal aspects. A large variety of mushrooms have been utilized traditionally in many different cultures for the maintenance of health and the prevention and treatment of diseases through their immunomodulatory and antineoplastic properties. In the last decade, the interest in mushrooms' pharmaceutical potential has increased rapidly, and it has been suggested that many mushrooms are like mini-pharmaceutical factories producing compounds with miraculous biological properties.
Opportunities
- Increasing RD spending on exotic mushroom variants
The demand for exotic varieties of mushrooms has been growing, driven by the increasing trend of eating healthy and natural food. Oyster mushrooms, enoki, and shiitake are a few examples of popular exotic mushrooms. The demand for exotic mushrooms has increased considerably over the past years. They can be canned, dried, or packed in frozen forms, including their usage in the food industry in mushroom pickles and sauces.
- Technological advancements and innovations in functional mushroom
Technological developments in the mushroom industry have witnessed increasing production capacities, innovations in cultivation technologies, improvements in final mushroom goods, and utilization of mushrooms' natural qualities for environmental benefits. The growing technologies used worldwide for mushroom species are increasing in food, processing, and pharmacological industries owing to the rapid development of mushroom farming.
- Supportive government policies on promoting investment in health-conscious diet
Consuming a healthy diet throughout the life course helps to prevent malnutrition in all its forms, as well as a range of non-communicable diseases (NCDs) and conditions. However, increased production of processed foods, rapid urbanization, and changing lifestyles have shifted dietary patterns. People are now consuming more foods high in energy, fats, free sugars, and salt/sodium, and many people do not eat enough fruit, vegetables, and other dietary fiber, such as whole grains. Investment by governments, the private sector, and other relevant stakeholders should support training for food producers, handlers, and processors to implement national, scientific, and evidence-based risk-based measures that can provide safe food while retaining its nutrient content.
Restraints/Challenges
- Strong market reach of other protein substitutes
The rise in the availability of protein substitutes is majorly driven by factors such as growing urbanization, innovation in food technology, high nutritional value, and a rise in environmental sustainability with the production and consumption of alternative protein.
- High product prices
Medicinal mushrooms are becoming more popular daily as researchers unravel new psilocybin benefits. These benefits are drawing more consumers to mushroom-related products. The rising demand for mushroom-related products is surging the prices to a higher rate due to everyday rising global demand. The high cost of functional mushroom products is rising due to its high cost of production since mushrooms for the retail market are hand-picked. Picker training courses have contributed enormously to labor costs. Harvesting costs alone account for over 30% of the cost of production. The requirement of the modern cold storage facility and well-equipped processing units also cost extra, leading to rising end-product prices.
- Implementation of strict regulation for the commercialization of functional mushroom products
The U.S. has one of the most stringent and progressive regulations on consumer safety, so when it comes to keeping both its citizens and those around the world who purchase American-made food at their healthiest, food is the most scrutinized. Food Safety Magazine named the U.S. the world's best food safety regulations and practices, right behind Canada.
Recent Developments
- In May 2021, Monaghan Group announced its partnership with Melissa Hemsley. The partnership will encourage more people to create vegetarian dishes and will be amplified through PR, social media, and digital activity. With this development company can increase its customer base.
- In October 2017, Monterey Mushrooms, Inc. announced the launch of its new product line, Let's Blend finely diced mushrooms, to make the cooking experience much easier. Let's blend works well with ground beef, chicken, lamb, pork, and turkey. With this development company can enhance its product portfolio.
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Table of Content:
Chapter 1: Functional Mushroom Market Overview
Chapter 1.1: Study Assumptions
Chapter 1.2: Scope of the Study
Chapter 2: Functional Mushroom Market Economic Impact
Chapter 2.1: Analysis Methodology
Chapter 2.2: Research Phases
Chapter 3: Competition by Manufacturers
Chapter 3.1: Current Market Scenario
Chapter 3.2: Value Chain/Supply Chain Analysis
Chapter 3.3: Government Regulations and Initiatives
Chapter 4: Production, Revenue (Value) by Region
Chapter 5: Supply (Production), Consumption, Export, Import by Regions
Chapter 5.1: Market Drivers
Chapter 5.2: Market Restraints/Challenges
Chapter 5.3: Market Opportunities
Chapter 6: Production, Revenue (Value), Price Trend by Type
Chapter 7: Market Analysis by Application
Chapter 8: Market by Manufacturing Cost Analysis
Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Geographic Analyses
Chapter 12: Functional Mushroom Market Effect Factors Analysis
Chapter 13: Functional Mushroom Market Forecast
Chapter 14: Future of the Market
Chapter 15: Appendix
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