What are the Historical Developments and Current Growth Metrics of the Medicinal Mushroom Market?
The medicinal mushroom market has seen considerable growth due to a variety of factors.
• The medicinal mushroom market has experienced rapid growth in recent years. It will grow from $37.88 billion in 2024 to $42.21 billion in 2025, at a CAGR of 11.4%.
The growth can be attributed to increasing awareness about the health benefits of medicinal mushrooms, a growing interest in functional foods, the rise in sports nutrition, and greater utilization of medicinal mushrooms.
What is the Forecasted Market Size and CAGR for the Medicinal Mushroom Market?
The medicinal mushroom market is expected to maintain its strong growth trajectory in upcoming years.
• The medicinal mushroom market is expected to grow to $64.32 billion by 2029, with a CAGR of 11.1%.
Growth is driven by the rising vegan population, shift toward preventative health, health benefits of medicinal mushrooms, and demand for mushroom-based products. Key trends include growing interest in alternative medicine, a shift to holistic health approaches, increased research and product diversity, and advancements in cultivation and processing technologies.
What Key Factors and Trends Are Driving The Growth Medicinal Mushroom Market?
The growing vegan population is expected to drive the medicinal mushroom market. Veganism is gaining popularity for ethical, environmental, and health reasons. Medicinal mushrooms provide essential nutrients and health benefits, making them a valuable addition to the vegan diet. According to the Vegan Society, the number of vegans in Europe reached 2.6 million in 2023, representing 3.2% of the population, further driving the demand for medicinal mushrooms.
What Are The Market Segments In The Medicinal Mushroom Market?
The medicinal mushroom market covered in this report is segmented –
1) By Type: Shiitake, Reishi, Maitake, Chaga, Cordyceps, Turkey Tail, Other Types
2) 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
Subsegments:
1) By Shiitake: Dried Shiitake Mushrooms, Shiitake Mushroom Extracts, Shiitake Powder, Shiitake Mushroom Capsules Or Tablets, Shiitake Mushroom Teas
2) By Reishi: Dried Reishi Mushrooms, Reishi Mushroom Extracts, Reishi Mushroom Powder, Reishi Mushroom Capsules Or Tablets
3) By Maitake: Dried Maitake Mushrooms, Maitake Mushroom Extracts, Maitake Mushroom Powder, Maitake Mushroom Capsules Or Tablets, Maitake Mushroom Teas
4) By Chaga: Dried Chaga Mushrooms, Chaga Mushroom Extracts, Chaga Mushroom Powder, Chaga Mushroom Capsules Or Tablets, Chaga Tea, Organic Chaga Mushrooms
5) By Cordyceps: Dried Cordyceps Mushrooms, Cordyceps Mushroom Extracts, Cordyceps Mushroom Powder, Cordyceps Mushroom Capsules Or Tablets, Cordyceps Mushroom Teas
6) By Turkey Tail: Dried Turkey Tail Mushrooms, Turkey Tail Mushroom Extracts, Turkey Tail Mushroom Powder, Turkey Tail Mushroom Capsules Or Tablets, Turkey Tail Mushroom Teas
7) By Other Types: Lion’s Mane Mushroom, Agaricus Blazei, Tremella Mushroom, Phellinus Linteus, Birch Polypore, Enoki Mushroom, King Oyster Mushroom, Polypore Mushrooms
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What Trends Are Shaping The Medicinal Mushroom Market?
Leading enterprises in the medicinal mushroom industry are utilizing cutting-edge technologies like pulsed UV light to create innovative products, enhance cultivation efficiency and enrich the bioactive compounds in their offerings. Pulsed UV light technology involves the application of powerfully intense, brief flashes of ultraviolet light to augment the safety, quality and nutritive value of medicinal mushrooms. To illustrate, Nammex, an American company specializing in organic mushroom extracts, introduced two novel functional mushroom ingredients to their line in October 2023–ErgoGold and mushroom-derived vitamin D. ErgoGold, a powdered extract from Golden Oyster mushrooms, contains health-benefiting compounds such as ergothioneine (ergo), beta-glucans, ergosterol, fiber, and secondary metabolites. This renders it suitable for individuals with yeast sensitivities and those looking for non-synthetic, full-spectrum ingredients. The mushroom-derived vitamin D produced by Nammex uses pulsed UV light technology to transform the fungal sterol ergosterol into substantial quantities of vitamin D2, allowing it to serve as a vegan ingredient that can meet the daily suggested intake of vitamin D with merely 60 mg, making it an ideal choice for consumers in search of a plant-based vitamin D source.
Who Are the Key Players In The Medicinal Mushroom 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
What Are The Regional Insights Into The Medicinal Mushroom Market?
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.
