Market Size of Asia-Pacific Functional Mushroom Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Asia Pacific Functional Mushrooms Market Analysis
The Asia-Pacific functional mushroom market is projected to register a CAGR of 7.2% during the forecast period (2022- 2027).
Mushrooms that support immune health have benefitted since the start of the pandemic COVID-19, with high interest from food, beverage, and nutritional supplement manufacturers, which has carried over to the entire mushroom category. It has positively impacted the market as there was an increase in demand for medicinal mushrooms due to their health benefits. Human and goods movement restrictions imposed by governments, deglobalization, and breakdown of the supply chain of food markets due to both demand shocks and supply constraints affected the market. Still, the rise in demand for medicinal mushrooms benefitted the market.
The Asia-Pacific functional mushroom market holds the highest market in the world, owing to increased production, consumption, and exports. China is the major revenue contributor to the market studied, as it exports functional mushrooms to other countries, like the United States, the United Kingdom, and Germany, followed by Japan. In the Asian region, REISHI mushrooms are primarily consumed due to their health-enhancing characteristics, such as immunity and longevity, while promoting liver and heart health. Moreover, these mushrooms also function as a sedative on the central nervous system, relieving stress and relaxing the mind and body.
Asia Pacific Functional Mushrooms Industry Segmentation
Functional mushrooms are widely acknowledged to have numerous bioactive compounds with functional benefits and tremendous health benefits for the human body, resulting in widespread availability. The Asia-Pacific functional mushroom market (henceforth, referred to as the market studied) is segmented based on product type, application, and geography. The product type is further segmented into Reishi, Cordyceps, Lion's Mane, Turkey Tail, Shiitake, Chaga, and other product types. By application, the market is segmented into food and beverage, dietary supplements, personal care, and pharmaceutical products. Based on country, the market has been segmented into India, China, Japan, Australia, and the Rest of Asia-Pacific. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| By Type | |
| Reishi | |
| Cordyceps | |
| Lions Mane | |
| Turkey Tail | |
| Shiitake | |
| Chaga | |
| Other Types |
| By Application | |
| Food and Beverage | |
| Dietary Supplements | |
| Personal Care | |
| Pharmaceutical |
| Country | |
| China | |
| Japan | |
| India | |
| Australia | |
| Rest of Asia-Pacific |
Asia-Pacific Functional Mushroom Market Size Summary
The Asia-Pacific functional mushroom market is experiencing robust growth, driven by increased consumer awareness of health benefits and a shift towards functional foods and beverages. The market, which holds the largest share globally, is significantly influenced by China's production and export activities, particularly in the United States, the United Kingdom, and Germany. The demand for medicinal mushrooms, such as Reishi, Chaga, and Turkey tails, is on the rise, as they are increasingly incorporated into various food and beverage products for their health-enhancing properties. This trend is further supported by urbanization and changing dietary habits, which have led to a higher incidence of lifestyle diseases, prompting consumers to seek out products that offer benefits beyond basic nutrition.
In India, the functional mushroom market is poised for significant expansion due to favorable agroclimatic conditions, rich fungal biodiversity, and advancements in cultivation and extraction techniques. The country is focusing on promoting medicinal mushrooms like G. lucidum and Grifola frondosa, which are gaining importance in both national and international markets. The market is highly competitive, with numerous small players engaging in product innovation, partnerships, and expansion to meet the growing demand. Companies are also exploring contract farming to cultivate exotic and functional mushrooms. Recent developments, such as the establishment of advanced extraction facilities and automation technology for mushroom processing, highlight the industry's dynamic nature and its potential for further growth.
Asia-Pacific Functional Mushroom Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Reishi
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2.1.2 Cordyceps
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2.1.3 Lions Mane
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2.1.4 Turkey Tail
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2.1.5 Shiitake
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2.1.6 Chaga
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2.1.7 Other Types
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2.2 By Application
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2.2.1 Food and Beverage
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2.2.2 Dietary Supplements
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2.2.3 Personal Care
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2.2.4 Pharmaceutical
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2.3 Country
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2.3.1 China
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2.3.2 Japan
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2.3.3 India
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2.3.4 Australia
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2.3.5 Rest of Asia-Pacific
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Asia-Pacific Functional Mushroom Market Size FAQs
What is the current Asia-Pacific Functional Mushroom Market size?
The Asia-Pacific Functional Mushroom Market is projected to register a CAGR of 7.20% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Functional Mushroom Market?
MITOKU COMPANY LTD, HOKKAIDO REISHI CO. LTD , Gooda Creek Farm, White Prince Mushrooms and Swadeshi Fresh and Organic are the major companies operating in the Asia-Pacific Functional Mushroom Market.
