FUNCTIONAL MUSHROOM MARKET ANALYSIS

Market News

Recent Developments:

• In February 2021, Nammex, which specializes in mushroom ingredients and is the premier supplier of organically certified mushroom extracts, went online as mushroom demand skyrocketed amid the COVID-19 pandemic. The new facility can produce up to 25 tons of mushroom extract powders per month, including Reishi, Lion’s Mane, Chaga, Cordyceps, Shiitake, Maitake, Turkey Tail, and others. All the extracts are USDA organically certified and kosher.
• In June 2021, Marley one, an artist, in partnership with Silo Wellness Inc., a major psychedelic company in Toronto, launched a new psychedelic and functional mushroom consumer brand, Marley One. The initial product offering includes a variety of functional mushroom tinctures, including lion’s mane, cordyceps, reishi, turkey tail, and Chaga, which provide benefits, such as boosting immunity, supporting gut health, sleep enhancement, and cognitive function.
• In September 2022, Innomy, a Spanish business focused on mushroom-based meat substitutes, revealed it had secured €1.3 million (USD 1.26 million) in a Pre-Series a fundraising round to expand, market, and sell its products throughout Europe. According to Innomy, mycelium has a high nutritional value, low cholesterol, and low saturated fat content, making it one of the most promising protein sources for the future.
• In December 2021, Psyence Group Inc., a science-led psychedelic platform led by experts in neurology, neuroscience, and drug development, announced that its joint venture, Goodmind, partnered with one of South Africa's largest coffee retail chains, Vida e Caffè, to roll out its functional mushroom brand in South Africa.