The medicinal mushroom market size has grown rapidly in recent years. It will grow from $34.09 billion in 2023 to $37.88 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The increase during the historical period can be credited to heightened awareness of the potential health benefits of medicinal mushrooms, a growing interest in functional foods, expansion in sports nutrition, and widespread utilization of medicinal mushrooms.
The medicinal mushroom market size is expected to see rapid growth in the next few years. It will grow to $57.95 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. Anticipated growth in the forecast period is driven by the expanding vegan population, increasing adoption of vegan diets, a trend towards preventive health and wellness lifestyles, recognized health benefits of medicinal mushrooms, and rising demand for products derived from mushrooms. Key trends in the forecast period include a rising interest in natural and alternative medicines, a shift towards holistic health approaches, increased investment in research and development, broader product offerings and accessibility, and advancements in mushroom cultivation and processing technologies.
The medicinal mushroom market is poised for growth due to an increasing vegan population. This demographic shift is fueled by ethical, environmental, health-related, informational, and cultural factors, underscoring the rising awareness and acceptance of veganism as a beneficial lifestyle choice. Medicinal mushrooms offer crucial nutritional support, health benefits, and culinary versatility, making them integral to a balanced vegan diet and lifestyle. For instance, as reported by the Vegan Society in 2023, 2.6 million Europeans are now vegan, constituting 3.2% of the population, up from 2020. This trend is a significant driver behind the expanding medicinal mushroom market.
Leading companies in this sector are innovating with advanced technologies such as pulsed UV light to boost cultivation efficiency and enhance bioactive compounds in their products. Pulsed UV light technology involves intense, brief bursts of ultraviolet light to improve the safety, quality, and nutritional content of medicinal mushrooms. For example, in October 2023, Nammex introduced ErgoGold and mushroom-derived vitamin D, leveraging pulsed UV light to convert ergosterol into vitamin D2. This innovation caters to vegan consumers seeking natural, nutrient-rich alternatives.
In March 2022, Vibe Mushrooms Inc., based in British Columbia, acquired Qi Mushrooms, a move aimed at utilizing Qi Mushrooms' systems, team, and research pipeline to bolster supply chain capabilities and accelerate growth in their mushroom extracts line. Qi Mushrooms, renowned for scientifically-backed medicinal mushroom extracts, strengthens Vibe Mushrooms' position in the market.
Major companies operating in the medicinal mushroom market are Costa Group, Monterey Mushrooms LLC, Nature's Way Brands, Bio-Botanica, Banken Champignons B.V., Aloha Medicinals, Fungi Perfecti, Hirano Mushroom LLC, Fungi Ally, Far West Fungi, FreshCap Mushrooms, Swadeshi Mushroom, Asia Pacific Farm Enterprises, Gourmet Mushrooms Inc., Mycoterra Farm, Green Box Mushrooms, Shroomery, Four Sigmatic, Woodland Mushrooms, Fungaia Farm, Vitality Mushrooms, Annanda Chaga Mushrooms.
North America was the largest region in the medicinal mushroom market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medicinal mushroom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the medicinal mushroom market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Medicinal mushrooms encompass a variety of fungi known for their health benefits, attributed to bioactive compounds that bolster immunity, reduce inflammation, combat infections, and demonstrate anti-cancer properties. Their primary purpose is to promote health and wellness through therapeutic qualities.
The key types of medicinal mushrooms include Shiitake, Reishi, Maitake, Chaga, Cordyceps, Turkey tail, and others. Shiitake mushrooms (Lentinula edodes), originating from East Asia, are edible and among these beneficial species. These mushrooms are available in fresh, dried, and other forms, offering diverse applications such as antioxidants, immune boosters, anti-cancer agents, and skincare solutions. Distribution channels range from supermarkets and hypermarkets to convenience stores and e-commerce platforms.
The medicinal mushrooms market research report is one of a series of new reports that provides medicinal mushrooms market statistics, including the medicinal mushrooms industry global market size, regional shares, competitors with medicinal mushrooms market share, detailed medicinal mushrooms market segments, market trends, and opportunities, and any further data you may need to thrive in the medicinal mushrooms industry. These medicinal mushrooms market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The medicinal mushroom market consists of sales of mushroom extract capsules, mushroom powder, mushroom tea, and mushroom supplements. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The medicinal mushroom market size is expected to see rapid growth in the next few years. It will grow to $57.95 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. Anticipated growth in the forecast period is driven by the expanding vegan population, increasing adoption of vegan diets, a trend towards preventive health and wellness lifestyles, recognized health benefits of medicinal mushrooms, and rising demand for products derived from mushrooms. Key trends in the forecast period include a rising interest in natural and alternative medicines, a shift towards holistic health approaches, increased investment in research and development, broader product offerings and accessibility, and advancements in mushroom cultivation and processing technologies.
The medicinal mushroom market is poised for growth due to an increasing vegan population. This demographic shift is fueled by ethical, environmental, health-related, informational, and cultural factors, underscoring the rising awareness and acceptance of veganism as a beneficial lifestyle choice. Medicinal mushrooms offer crucial nutritional support, health benefits, and culinary versatility, making them integral to a balanced vegan diet and lifestyle. For instance, as reported by the Vegan Society in 2023, 2.6 million Europeans are now vegan, constituting 3.2% of the population, up from 2020. This trend is a significant driver behind the expanding medicinal mushroom market.
Leading companies in this sector are innovating with advanced technologies such as pulsed UV light to boost cultivation efficiency and enhance bioactive compounds in their products. Pulsed UV light technology involves intense, brief bursts of ultraviolet light to improve the safety, quality, and nutritional content of medicinal mushrooms. For example, in October 2023, Nammex introduced ErgoGold and mushroom-derived vitamin D, leveraging pulsed UV light to convert ergosterol into vitamin D2. This innovation caters to vegan consumers seeking natural, nutrient-rich alternatives.
In March 2022, Vibe Mushrooms Inc., based in British Columbia, acquired Qi Mushrooms, a move aimed at utilizing Qi Mushrooms' systems, team, and research pipeline to bolster supply chain capabilities and accelerate growth in their mushroom extracts line. Qi Mushrooms, renowned for scientifically-backed medicinal mushroom extracts, strengthens Vibe Mushrooms' position in the market.
Major companies operating in the medicinal mushroom market are Costa Group, Monterey Mushrooms LLC, Nature's Way Brands, Bio-Botanica, Banken Champignons B.V., Aloha Medicinals, Fungi Perfecti, Hirano Mushroom LLC, Fungi Ally, Far West Fungi, FreshCap Mushrooms, Swadeshi Mushroom, Asia Pacific Farm Enterprises, Gourmet Mushrooms Inc., Mycoterra Farm, Green Box Mushrooms, Shroomery, Four Sigmatic, Woodland Mushrooms, Fungaia Farm, Vitality Mushrooms, Annanda Chaga Mushrooms.
North America was the largest region in the medicinal mushroom market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medicinal mushroom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the medicinal mushroom market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Medicinal mushrooms encompass a variety of fungi known for their health benefits, attributed to bioactive compounds that bolster immunity, reduce inflammation, combat infections, and demonstrate anti-cancer properties. Their primary purpose is to promote health and wellness through therapeutic qualities.
The key types of medicinal mushrooms include Shiitake, Reishi, Maitake, Chaga, Cordyceps, Turkey tail, and others. Shiitake mushrooms (Lentinula edodes), originating from East Asia, are edible and among these beneficial species. These mushrooms are available in fresh, dried, and other forms, offering diverse applications such as antioxidants, immune boosters, anti-cancer agents, and skincare solutions. Distribution channels range from supermarkets and hypermarkets to convenience stores and e-commerce platforms.
The medicinal mushrooms market research report is one of a series of new reports that provides medicinal mushrooms market statistics, including the medicinal mushrooms industry global market size, regional shares, competitors with medicinal mushrooms market share, detailed medicinal mushrooms market segments, market trends, and opportunities, and any further data you may need to thrive in the medicinal mushrooms industry. These medicinal mushrooms market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The medicinal mushroom market consists of sales of mushroom extract capsules, mushroom powder, mushroom tea, and mushroom supplements. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Medicinal Mushroom Market Characteristics3. Medicinal Mushroom Market Trends and Strategies32. Global Medicinal Mushroom Market Competitive Benchmarking33. Global Medicinal Mushroom Market Competitive Dashboard34. Key Mergers and Acquisitions in the Medicinal Mushroom Market
4. Medicinal Mushroom Market - Macro Economic Scenario
5. Global Medicinal Mushroom Market Size and Growth
6. Medicinal Mushroom Market Segmentation
7. Medicinal Mushroom Market Regional and Country Analysis
8. Asia-Pacific Medicinal Mushroom Market
9. China Medicinal Mushroom Market
10. India Medicinal Mushroom Market
11. Japan Medicinal Mushroom Market
12. Australia Medicinal Mushroom Market
13. Indonesia Medicinal Mushroom Market
14. South Korea Medicinal Mushroom Market
15. Western Europe Medicinal Mushroom Market
16. UK Medicinal Mushroom Market
17. Germany Medicinal Mushroom Market
18. France Medicinal Mushroom Market
19. Italy Medicinal Mushroom Market
20. Spain Medicinal Mushroom Market
21. Eastern Europe Medicinal Mushroom Market
22. Russia Medicinal Mushroom Market
23. North America Medicinal Mushroom Market
24. USA Medicinal Mushroom Market
25. Canada Medicinal Mushroom Market
26. South America Medicinal Mushroom Market
27. Brazil Medicinal Mushroom Market
28. Middle East Medicinal Mushroom Market
29. Africa Medicinal Mushroom Market
30. Medicinal Mushroom Market Competitive Landscape and Company Profiles
31. Medicinal Mushroom Market Other Major and Innovative Companies
35. Medicinal Mushroom Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Medicinal Mushroom Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on medicinal mushroom market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
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- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for medicinal mushroom? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The medicinal mushroom market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Shiitake; Reishi; Maitake; Chaga; Cordyceps; Turkey Tail; Other Types2) By Form: Fresh; Dried; Other Forms
3) By Application: Antioxidants; Immune Enhancer; Anti-Cancer; Skin Care; Other Applications
4) By Distribution Channel: Supermarkets And Hypermarkets; Convenience Stores; E-Commerce
Key Companies Mentioned: Costa Group; Monterey Mushrooms LLC; Nature's Way Brands; Bio-Botanica; Banken Champignons B.V.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Costa Group
- Monterey Mushrooms LLC
- Nature's Way Brands
- Bio-Botanica
- Banken Champignons B.V.
- Aloha Medicinals
- Fungi Perfecti
- Hirano Mushroom LLC
- Fungi Ally
- Far West Fungi
- FreshCap Mushrooms
- Swadeshi Mushroom
- Asia Pacific Farm Enterprises
- Gourmet Mushrooms Inc.
- Mycoterra Farm
- Green Box Mushrooms
- Shroomery
- Four Sigmatic
- Woodland Mushrooms
- Fungaia Farm
- Vitality Mushrooms
- Annanda Chaga Mushrooms
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | August 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 37.88 Billion |
Forecasted Market Value ( USD | $ 57.95 Billion |
Compound Annual Growth Rate | 11.2% |
Regions Covered | Global |
No. of Companies Mentioned | 22 |