Mushrooms are a type of vegetable with a fleshy fungus that contains vitamins, potassium, and selenium. Mushrooms require a controlled climate with enough light, humidity, ventilation, temperature, nutrients, pH, and air pressure. These mushrooms are known for being high in antioxidants and nutritional content, with a variety of health benefits associated with each species. Because of their medicinal and superfood properties, these mushrooms have been used for hundreds of years. Functional mushrooms are used to improve immune systems and as a low-calorie, high-protein dietary option, which is ideal for those who lack protein in their diet. It also contains numerous vitamins and important minerals.

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Data Bridge Market Research analyses that the functional mushroom powder market is expected to grow at a CAGR of 5.8% in the forecast period of 2022 to 2029 and is expected to reach USD 1801.08 million by 2029. The functional mushroom powder market is anticipated to grow as these mushrooms become more popular as superfoods due to their numerous health benefits. Pharmaceutical and healthcare goods use functional mushrooms in a variety of ways. As a result, their demand will increase in the future. Increased product use as a health supplement in the pharmaceutical industry is also propelling market expansion.  

Positive outlook toward organic personal care is expected to drive the market's growth rate during the forecast period

The positive view toward organic personal care has been fueled by growing worries about the side effects of chemicals on the skin, such as skin irritation, dullness, and dryness. Furthermore, due to growing knowledge of the benefits of organic products, customers are seeking eco-friendly, sustainable skincare products with higher product component transparency, which is boosting the organic skincare products market. Due to increased health, wellness, and sustainability-related concerns among consumers, the spread of COVID-19 had a significant impact on the use of chemical-free personal care products.

Report Scope and Market Segmentation

Segment Analysis:

The functional mushroom powder market is segmented on the basis of species, mushroom part, product type, product category, nature, category, cultivation method, and application.

• On the basis of species, the global functional mushroom powder market is segmented into Reishi, Lion's Mane, Turkey Tail, Chaga, Shiitake, Maitake, Cordyceps, Tremella, Agaricus Subrufescens (Almond Mushroom), and others. In 2022, the reishi segment is expected to dominate the global functional mushroom powder market with a 21.85% market share due to the growing demand for mushroom food.
• On the basis of mushroom part, the global functional mushroom powder market is segmented into the mushroom stem, mushroom cap, and mushroom mycelium. In 2022, the mushroom cap segment is expected to dominate the global functional mushroom powder market with 41.13% market share owing to the growing popularity of functional mushrooms in various cuisines, medicines, and dietary supplements.
• On the basis of product type, the global functional mushroom powder market is segmented into wild and cultivated. In 2022, the cultivated segment is expected to dominate the global functional mushroom powder market with a 55.57% market share owing to the rise in health consciousness among consumers.
• On the basis of product category, the global functional mushroom powder market is segmented into full spectrum mushroom powder, powderized fruiting body, regular mushroom powder, and others. In 2022, the full spectrum mushroom powder segment is expected to dominate the global functional mushroom powder market with 34.29% market share.
• On the basis of nature, the global functional mushroom powder market is segmented into organic and conventional. In 2022, the conventional segment is expected to dominate the global functional mushroom powder market with 58.37% market share due to its easy availability and lower cost than organic mushrooms.

In 2022, the conventional segment of nature segment is anticipated to dominate the functional mushroom powder market

In 2022, the conventional segment of this market will dominate the functional mushroom powder market because blended functional mushroom powder have more antioxidants than pure functional mushroom powder. The conventional segment is expected reach the highest CAGR of 5.7% in the forecast period of 2022-2029.

• On the basis of category, the global functional mushroom powder market is segmented into GMO and non-GMO. In 2022, the non-GMO segment is expected to dominate the global functional mushroom powder market with a 77.56% market share owing to the growing demand for organic, naturally grown functional mushrooms.

In 2022, the non-GMO segment is projected to hold the largest share of category segment in the functional mushroom powder market.

In 2022, the non-GMO segment is anticipated to hold the largest share of global functional mushroom powder market owing to the growing demand for organic, naturally grown functional mushrooms. The non-GMO segment is growing with a CAGR of 5.9% in the forecast period of 2022 to 2029.

• On the basis of cultivation method, the global functional mushroom powder market is segmented into cultivation using polythene bags, cultivation on logs, cultivation on saw dust using tray, cultivation on wood shavings, and others. In 2022, the cultivation using polythene bags segment is expected to dominate the global functional mushroom powder market with 32.97% market share owing to an increase in the use of cultivation using polythene bags as it is an easy method of cultivation compared to other methods.
• The global functional mushroom powder market is segmented into food & beverages, dietary supplements, pharmaceutical and medicinal, nutraceutical, personal care, sports nutrition, veterinary, cosmetics, livestock feed, and others. In 2022, the pharmaceutical and medicinal segment is expected to dominate the global functional mushroom powder market with a 19.01% market share due to the increasing use of mushroom powder in disease treatments and medical uses as they help fight against cancer and boost immune system function.

Major Players

Data Bridge Market Research recognizes the following companies as the major functional mushroom powder market players in functional mushroom powder market are Monterey Mushrooms, Inc. (U.S.), Nammex (North American Medicinal Mushroom Extracts) (Canada), Hangzhou Molai Biotech Co., Ltd. (China), M2 INGREDIENTS (U.S.).

Market Development

• In October 2021, Prenexus Health Signs Exclusive announced its partnership with Aloha Medicinals to bring mushroom-based prebiotic named MyceliaGI to market. MyceliaGI provides a unique prebiotic ingredient to food, beverage, and supplement makers to meet rising consumer demand for digestive health ingredients as well as medicinal mushroom products. Prenexus Health is a pioneer in the creation of prebiotics that are scientifically sound and clinically tested. Prenexus Health's objective is to enhance individual health and wellbeing via the research, development, and manufacture of ground-breaking prebiotic ingredients for dietary supplement, food, and beverage products. 
• In March 2021, New Wave Subsidiary, Way of Will Inc. announced the launch of Functional Mushroom Capsules and Functional Mushroom Powder as part of new emerging mushroom collection. The launch, which includes a proprietary blend of five functional mushrooms and fungi accessible in pill and powder form, aims to increase immunity naturally. They are high in minerals, vitamins and antioxidants, all of which help to maintain a healthy immune system. The capsules are designed for ease of use and convenience, while the powder can be mixed and incorporated into foods and beverages for various applications.

Regional Analysis

Geographically, the countries covered in the functional mushroom powder market report are U.S., Canada, Mexico, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific, Germany, Spain, France, Italy, U.K., Belgium, Netherlands, Switzerland, Russia, Turkey, Rest of Europe, Saudi Arabia, South Africa, Kuwait, U.A.E., Rest of Middle East and Africa.

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in functional mushroom powder market during the forecast period 2022 - 2029

Asia-Pacific will continue to dominate the functional mushroom powder market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period due to the increase in the use of functional mushroom powder in wide end-user industries. China dominates the region because conventional mushroom cultivation is less expensive than organic and produces a higher output of mushrooms.

Europe is estimated to be the fastest-growing region in functional mushroom powder market the forecast period 2022 - 2029

Europe is anticipated to grow at the highest rate during the forecast period of 2022-2029 due to the rising level of disposable income and presence of major key players in this regions. Additionally, growing prevalence of chronic diseases in this region is expected to propel the market's growth rate.

COVID-19 Impact Analysis

COVID-19 had an impact on the market. This can be ascribed to severe disruptions in their respective manufacturing and supply-chain operations, resulting from multiple precautionary lockdowns and other limitations imposed by governments all over the world. The disruption in the supply chain caused by the COVID-19 outbreak has severely impacted the raw material supply chain. The usage of functional mushrooms causes the disruption in the supply chain of end-user industries in the production of functional mushroom powder. It was blamed on a shortage of resources and logistics, which resulted in limited access, delayed stock, and raw material deliveries. The disruption in the supply chain caused by the COVID-19 outbreak has severely impacted the raw material supply chain. The usage of functional mushrooms causes the disruption in the supply chain of end-user industries in the production of functional mushroom powder. It was blamed on a shortage of resources and logistics, which resulted in limited access, delayed stock, and raw material deliveries. Changing customer purchasing patterns and increasing demand for functional mushroom powder among various end-users such as food and beverages, dietary supplements, pharmaceutical and medicinal, nutraceutical, personal care, and others have boosted demand for functional mushroom powder post-COVID.

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