Medicinal Mushroom Market: By Type (Reishi, Maitake, Shiitake, Chaga, Cordyceps, Turkey Tail, and Other Types), By Form (Fresh, Dried, and Other Form), By Function (Antioxidant, Immune Enhancer, Anti-Cancer, Skin Care, and Other Functions), and Geography

Medicinal Mushroom Market size was valued at USD 4,912.3 million in 2023 and is poised to grow at a CAGR of 9.4% during 2024-2030. The mushrooms are those fungi that traditionally bear medicinal value to health benefits. Such mushrooms contain bioactive compounds that are believed to help boost the immunity system, reduce inflammation, and give antioxidant properties. The common examples include Reishi, Shiitake, Maitake, and Cordyceps. Increasing consumer preference for natural and plant-based supplements drives the medicinal mushroom market. The growth of natural and organic products is because their consumers prefer to maintain a healthy life and an alternative to synthetic drugs.

Medicinal mushrooms are considered safe means of natural sources that provide very many health-related benefits, such as immune enhancement and stress reduction. For instance, according to NBJ, the natural products industry has grown radically in the past years, with the dietary supplements sector included. However, the cultivation and processing of the mushrooms can be an expensive operation, considering high-quality and organic products. This might create an entry barrier for small companies, hence limiting the number of products that could reach consumers at competitive prices. With growing middle-class populations, emerging markets in Latin America and Asia-Pacific are now on the rise, and as disposal incomes continue to increase, demand for health and wellness products will also increase, including medicinal mushrooms.

Medicinal Mushroom Market Key Developments:

• In 2024: Four Sigmatic, one of the largest functional mushroom companies, has recently announced its new product line, "Mindful Mushrooms," to drop in early 2024. The line consists of mushroom-injected supplements and beverages directed at mental clarity, stress reduction, and general cognitive health.
• In 2023: Om Mushroom Superfood launched "Mushroom Boost" capsules in 2023, which it positioned for immune support. This blend includes Reishi, Turkey Tail, and Maitake mushrooms for maximum immune system functionality.