GLOBAL MEDICINAL MUSHROOM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global Medicinal Mushroom Market Size and Trends

The Medicinal Mushroom Market is estimated to be valued at USD 34.22 Bn in 2024 and is expected to reach USD 59.41 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.

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Demand for medicinal mushrooms is on the rise owing to increasing health consciousness among consumers and growing inclination towards organic and plant-based products. Mushrooms have high nutritional value and contain compounds that boost immunity as well as help manage conditions like diabetes, heart disease, and cancer. As research continues to explore additional health benefits of various medicinal mushrooms, their application across wider areas like skin and hair care is expected. With rapid urbanization, changing lifestyles and greater access to information, more people are turning to traditional medicines and functional ingredients for various ailments which is expected to drive the growth of the medicinal mushroom market over the forecast period.

Health beneficial properties of medicinal mushrooms

Medicinal mushrooms have been used for centuries in ancient Chinese and other Asian cultures for their potent medicinal properties. In recent decades, rigorous scientific research has validated many of the health benefits traditionally associated with popular medicinal mushroom species. Some key health properties that are driving the demand include boosting the immune system, fighting cancerous tumors, providing anti-inflammatory benefits, and improving gut and digestive health.

Mushrooms like reishi, shiitake, chaga, and turkey tail are now recognized to contain high concentrations of beta-glucans, polysaccharides, antioxidants, and other nutrients that enhance immune system response. By stimulating the activity of macrophages, neutrophils, dendritic cells, and other immune cells, medicinal mushrooms help the body identify and destroy pathogens, foreign cells and cancer cells. In addition to enhancing cellular immune responses, some mushrooms like maitake have been shown to stimulate antibody and complement production. As consumers increasingly seek out natural and preventative solutions to support overall wellness and combat chronic illnesses, the immune-boosting properties of medicinal mushrooms have become an appealing alternative or complement to conventional medical treatments. 

Market Concentration and Competitive Landscape

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Shift to preventative health and wellness-oriented lifestyles

Consumers globally are increasingly focused on living a preventative lifestyle and actively maintaining health and wellness through nutrition and natural therapies. This shift reflects a desire to avoid chronic diseases and medical interventions by supporting the body’s inherent self-healing abilities. As such, demand has grown enormously for “functional foods” and evidence-based herbal and plant-based remedies that provide an array of health benefits. Medicinal mushrooms are appealing to this demographic as a nutritional powerhouse that can be easily consumed as food or supplements.

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Market Challenges – High Costs:

The medicinal mushroom market faces several challenges. As research into the health benefits of various mushroom species continues, consumers remain skeptical of claims that are not backed by strong clinical evidence. High costs associated with cultivation and production also limit access for some. Furthermore, as a largely unregulated natural supplement industry, issues of product quality and consistency have potential to undermine consumer trust.

Market Opportunities - Growing interest in alternative and natural medicines:

The market also presents many opportunities. Growing interest in alternative and natural medicines is driving demand. Medical communities are increasingly recognizing therapeutic properties of certain mushrooms. As supporting research emerges, consumer acceptance is likely to rise, helping this specialized industry expand. New cultivation techniques also promise to reduce production expenses over time.

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Insights, By Product Type: Potent Anti-Oxidative and Immune Boosting Properties Drive Reishi’s growth

The product type segment includes Reishi, cordyceps, lion’s mane, turkey tail, shiitake, chaga, and others. Reishi is anticipated to account for 34.2% of the market share in 2024 owing to its potent anti-oxidative and immune boosting properties. Reishi mushrooms contain high concentrations of polysaccharides and triterpenes such as ganoderic acid, which have been shown to support immune function and help fight oxidation in the body. Regular consumption of Reishi has been linked to reduced inflammation, strengthened immune defenses against pathogens and toxins, and protection against chronic diseases. Reishi is also a popular ingredient in traditional Chinese medicine for its restorative effects. The mushroom's well-documented health advantages, combined with growing consumer awareness about functional foods and natural remedies, have made Reishi one of the most sought-after medicinal varieties.

Insights, By Application: Effective in Preventing Illness Drives Immune Support’s growth

The application segment includes Immune Support, Anti-Cancer, Cognitive Support, and Others. Immune Support is projected to have the highest share i.e. 30.7% of the market in 2024. A properly functioning immune system acts as the body's first line of defense against viruses, bacteria, and other pathogens. With growing health concerns around infectious diseases and chronic conditions influenced by inflammation like cancer, consumers are increasingly recognizing immune support as paramount for overall well-being. Medicinal mushrooms like reishi, cordyceps, and lion's mane that are renowned for immune-boosting properties are in high demand for their ability to strengthen the immune system's response. The application segment for immune support thus gains significant traction as people look to supplements for low-cost preventive healthcare solutions.

Insights, By Distribution Channel: Trustworthiness and Expertise drives Pharmacies’ growth

The distribution channel segment includes pharmacies, retail stores, E-commerce, and others. Pharmacies are expected to have 31.5% of the market share in 2024 owing to their widespread presence and the trust consumers place in them. As experts on medicinal products, pharmacists are well-positioned to advise customers on high-quality mushroom supplements. Their recommendations carry weight due to pharmacies' reputation for dispensing scientifically backed remedies. People frequenting pharmacies for chronic conditions or pharmacy-exclusive supplements find it convenient to also purchase mushroom extracts on the same visits. Pharmacies additionally benefit from steady foot traffic and long-standing relationships with healthcare providers who may recommend specific pharmacist-recommended brands to patients. These advantages have enabled pharmacies to dominate the distribution of medicinal mushrooms.

Regional Insights

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North America region is anticipated to have 30.2% of the market share in 2024 and continue its dominance throughout the forecasted period. The U.S. in particular, has seen rising awareness and adoption of Eastern herbal medicines and functional foods containing medicinal mushrooms. Several North American companies have established large-scale cultivation facilities and have pioneered new extraction and formulation techniques. Their production capabilities allow for price competitiveness and reliable supply chains within the region as well as exports globally. Additionally, the prevalence of herbal supplement retail chains such as GNC and Whole Foods provides easy accessibility for consumers in North America. Major players in the region also invest heavily in clinical research to validate the medical benefits of mushrooms, which helps gain market acceptance.

The Asia Pacific region, led by China, has emerged as the fastest growing market for medicinal mushrooms in recent years. Countries like China, Japan and South Korea have the longest history of usage and are considered the original centers of cultivation for many medicinal mushroom varieties. Local populations rely heavily on traditional medicines using mushrooms, securing a steady domestic demand. However, China in particular has substantially increased exports as producers recognize the commercial opportunities in overseas markets. They have significantly expanded harvest volumes of popular varieties such as shiitake, maitake and reishi to meet rising global demand. Chinese exporters also keep prices competitive by leveraging their early-mover advantage, economies of scale, and lower production costs in the region. This has enabled them to penetrate Western markets and give North American companies competition. With continued market development investments, Asia Pacific is positioned to become the dominant force in the worldwide medicinal mushroom trade.

Market Report Scope

Global Medicinal Mushroom Industry News

• In October 2023, North American Reishi Ltd. (Nammex), a provider of certified organic mushroom extracts, launched two new mushroom ingredients: ErgoGold and mushroom-derived vitamin D. According to Nammex, ErgoGold is a powder extract of Golden Oyster mushrooms that contains a therapeutic amount of ergothioneine (ergo) as well as a full complement of other therapeutic compounds such as beta-glucans, ergosterol, insoluble and soluble fiber, and secondary metabolites.
• In September 2022, Ethical Naturals, a manufacturer of botanical-based products, collaborated with Nammex to create Mushroom-Plus, a new range of organic mushroom extracts designed to address particular health conditions. The new components include Nammex organic mushroom extracts combined with additional bioactive compounds to increase their therapeutic benefits and marketability.
• In May 2022, Grove Inc., a retail food service firm, entered the fast increasing market for medicinal mushrooms and superfoods with its newest product line, Cure Mushrooms. The brand provides a line of mushroom extracts manufactured in the United States. The USDA Certified Organic brand, which grows in the Pacific Northwest and extracts and formulates in California, has a comprehensive variety of liquid extracts (tinctures) and gummies.
• In February 2022, Doseology Sciences Inc., a Canada-based diversified life sciences company that develops mushroom-based health and wellness solutions, announced the launch of its Health Canada NPN-approved medicinal mushroom product line in Canada, as well as plans for a national multichannel marketing campaign.

*Definition: The medicinal mushroom market involves the cultivation, processing, and commercialization of various types of mushrooms for their therapeutic properties and health benefits. Mushrooms used in this market such as Reishi, Shiitake, Turkey Tail, Cordyceps, Chaga, and Lion's Mane are grown and harvested on a commercial scale. They are then processed into various forms like capsules, powders, extracts, and teas to be used in supplements, functional foods, and beverages claiming to boost immunity and fight chronic diseases.

Market Segmentation

• Product Type Insights (Revenue, USD BN, 2019 - 2031)
  • Reishi
  • Cordyceps
  • Lion’s Mane
  • Turkey Tail
  • Shiitake
  • Chaga
  • Others
•  Application Insights (Revenue, USD BN, 2019 - 2031)
  • Immune Support
  • Anti-Cancer
  • Cognitive Support
  • Others
•  Distribution Channel Insights (Revenue, USD BN, 2019 - 2031)
  • Pharmacies
  • Retail Stores
  • E-commerce
  • Others
• Regional Insights (Revenue, USD BN, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • Host Defense Mushrooms
  • Sun Potion
  • Four Sigmatic
  • Om Mushrooms
  • Real Mushrooms
  • MycoMedicinals
  • North American Medicinal Mushrooms (NAMM)
  • Golden Eagle Herbs
  • Rainforest Herbs
  • FreshCap Mushrooms
  • Oriveda
  • Dr. Stamets' PerfectSpore
  • Fungi Perfecti
  • Redd Remedies
  • Vital Plankton
  • Aloha Medicinals