Product Code: GVR-4-68040-364-3
Mushroom Extracts Market Growth & Trends:
The global mushroom extracts market is anticipated to reach USD 23.27 billion by 2030 and is anticipated to grow at a CAGR of 10.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is experiencing growth due to rising awareness of the health benefits associated with medicinal mushrooms and advancements in extraction technologies that enhance the potency of mushroom extracts. Key varieties like Reishi, Lion's Mane, Cordyceps, Chaga, and Shiitake offer targeted health benefits, driving consumer demand for natural solutions in dietary supplements and personal care products.
Additionally, there is a strong preference for high-quality products labeled as "organic","100% fruiting body," and "free from grain fillers," as these attributes ensure maximum efficacy. Companies like KAAPA Biotech are leading the way by using innovative cultivation methods to produce pure and potent mushroom extracts, further fueling market growth.
The mushroom extract market is witnessing significant innovations, particularly with the introduction of products like Chiber from Chinova Bioworks. Chinova Bioworks utilizes a patented green chemistry process to extract chitosan from mushroom stems, producing a clean-label ingredient known as Chiber. This antimicrobial extract can be labeled as various forms, including "mushroom extract," and is approved under Whole Foods Market's ingredient qualification program. This clean-label preservative, derived from upcycled white button mushrooms, offers a natural alternative to artificial preservatives by extending shelf life and maintaining food quality without compromising flavor or texture.
The mushroom extracts market in Asia Pacific is projected to grow at a CAGR of 10.8% from 2024 to 2030. In Asian countries, the rich culinary and medicinal history of mushrooms greatly influences consumer preferences, fueling market growth. Traditional practices frequently utilize varieties like Shiitake and Reishi, which are highly valued for their health benefits. This cultural connection, along with increasing health awareness and interest in functional foods, drives the demand for mushroom extracts as consumers look for convenient ways to include these potent ingredients in their diets.
Some of the key players operating in the mushroom extracts market include Nammex, Applied Food Sciences, Inc., Nutri Avenue Inc, Sempera Organics, and Nordic Mushrooms. Key market participants are increasingly focused on expanding their product lines, product innovation, and strategic partnerships. In October 2023, Nammex launched two new mushroom-derived ingredients: ErgoGold and mushroom-derived vitamin D. ErgoGold is a powder mushroom extract from Golden Oyster mushrooms, providing a therapeutic dose of ergothioneine along with other beneficial compounds.
Mushroom Extracts Market Report Highlights:
- Based on product, in 2023, Shiitake extracts generated share of 33.9% the market revenue, showcasing their strong popularity due to their rich flavor and numerous health benefits, including immune support, and cardiovascular health. Consumers increasingly seek natural and functional ingredients, driving demand for high-quality mushroom products. Additionally, their high content of bioactive compounds, such as beta-glucans, make Shiitake extracts a valuable addition to various dietary supplements and functional foods.
- Based on form, liquid mushroom extract sales are expected to grow at a CAGR of 10.8% from 2024 to 2030, driven by consumer preference for easy-to-use supplements. Their rapid absorption and high bioavailability maximize the health benefits of mushrooms, while versatility allows incorporation into smoothies, teas, and wellness products.
- In 2023, dietary supplements represented the largest application in the mushroom extract market, accounting for 48.5% of the total market share, driven by increased consumer awareness of health benefits and a preference for natural/plant-based supplements. Four Sigmatic responded to this demand by launching its Organic Mushroom Complex Capsules in August 2023, available in Focus, Calm, and Memory varieties.
- In 2023, the mushroom extracts market in North America accounted for 34.2% of the global revenue share, driven by increasing consumer awareness of health benefits and a rising demand for natural dietary supplements. The growth of health-conscious lifestyles and the growing popularity of mushroom-fortified food and beverages in the U.S. significantly contributed to this robust mushroom extract market growth.
- The mushroom extracts market is fragmented due to the presence of numerous small and medium-sized companies alongside larger players, each offering diverse products and formulations. This variety allows for specialization in different types of mushrooms and target applications, catering to unique consumer preferences. Additionally, the regional functional mushroom cultivation practices and varying regulatory environments further contribute to the market's fragmentation.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Materials & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Information & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Product Outlook
- 2.3. Form Outlook
- 2.4. Application Outlook
- 2.5. Regional Outlook
- 2.6. Competitive Landscape Snapshot
Chapter 3. Mushroom Extracts Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Raw Material Trends
- 3.2.2. Manufacturing/Technology Trends
- 3.3. Regulatory Framework
- 3.4. Market Dynamics
- 3.4.1. Market Driver Analysis
- 3.4.2. Market Restraint Analysis
- 3.4.3. Market Opportunities
- 3.4.4. Market Challenges
- 3.5. Industry Analysis Tools
- 3.5.1. Porter's Five Forces Analysis
- 3.6. Market Entry Strategies
Chapter 4. Mushroom Extracts Market: Product Estimates & Trend Analysis
- 4.1. Mushroom Extracts Market, By Product: Key Takeaways
- 4.2. Product Movement Analysis & Market Share, 2023 & 2030
- 4.3. Market Estimates & Forecasts, by product, 2018 - 2030 (USD Million)
- 4.3.1. Shiitake Extract
- 4.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 4.3.2. Reishi Extract
- 4.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 4.3.3. Lion's Mane Extract
- 4.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 4.3.4. Cordyceps Extract
- 4.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 4.3.5. Turkey Tail Extract
- 4.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 4.3.6. Chaga Extract
- 4.3.6.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 4.3.7. Others
- 4.3.7.1. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 5. Mushroom Extracts Market: Form Estimates & Trend Analysis
- 5.1. Mushroom Extracts Market, By Form: Key Takeaways
- 5.2. Form Movement Analysis & Market Share, 2023 & 2030
- 5.3. Market Estimates & Forecasts, by form, 2018 - 2030 (USD Million)
- 5.3.1. Powder
- 5.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 5.3.2. Liquid
- 5.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 6. Mushroom Extracts Market: Application Estimates & Trend Analysis
- 6.1. Mushroom Extracts Market, By Application: Key Takeaways
- 6.2. Application Movement Analysis & Market Share, 2023 & 2030
- 6.3. Market Estimates & Forecasts, by application, 2018 - 2030 (USD Million)
- 6.3.1. Dietary Supplements
- 6.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.3.2. Functional Foods & Beverages
- 6.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.3.3. Pharmaceuticals
- 6.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.3.4. Cosmetics & Personal Care
- 6.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 7. Mushroom Extracts Market: Regional Estimates & Trend Analysis
- 7.1. Mushroom Extracts Market: Regional Outlook
- 7.2. Regional Marketplaces: Key Takeaways
- 7.3. Market Estimates & Forecasts, by Region, 2018 - 2030 (USD Million)
- 7.3.1. North America
- 7.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.1.2. U.S.
- 7.3.1.2.1. Key country dynamics
- 7.3.1.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.1.3. Canada
- 7.3.1.3.1. Key country dynamics
- 7.3.1.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.1.4. Mexico
- 7.3.1.4.1. Key country dynamics
- 7.3.1.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.2. Europe
- 7.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.2.2. Germany
- 7.3.2.2.1. Key country dynamics
- 7.3.2.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.2.3. U.K.
- 7.3.2.3.1. Key country dynamics
- 7.3.2.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.2.4. France
- 7.3.2.4.1. Key country dynamics
- 7.3.2.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.2.5. Italy
- 7.3.2.5.1. Key country dynamics
- 7.3.2.5.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.2.6. Spain
- 7.3.2.6.1. Key country dynamics
- 7.3.2.6.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.3. Asia Pacific
- 7.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.3.2. China
- 7.3.3.2.1. Key country dynamics
- 7.3.3.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.3.3. Japan
- 7.3.3.3.1. Key country dynamics
- 7.3.3.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.3.4. India
- 7.3.3.4.1. Key country dynamics
- 7.3.3.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.3.5. South Korea
- 7.3.3.5.1. Key country dynamics
- 7.3.3.5.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.3.6. Australia
- 7.3.3.6.1. Key country dynamics
- 7.3.3.6.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.4. Central & South America
- 7.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.4.2. Brazil
- 7.3.4.2.1. Key country dynamics
- 7.3.4.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.5. Middle East & Africa
- 7.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.5.2. South Africa
- 7.3.5.2.1. Key country dynamics
- 7.3.5.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 8. Mushroom Extracts Market: Competitive Analysis
- 8.1. Recent developments & impact analysis, by key market participants
- 8.2. Company Categorization
- 8.3. Participant's Overview
- 8.4. Financial Performance
- 8.5. Product Benchmarking
- 8.6. Company Market Share Analysis, 2023 (%)
- 8.7. Company Heat Map Analysis
- 8.8. Strategy Mapping
- 8.9. Company Profiles
- 8.9.1. Bio Answer Holdings Inc.
- 8.9.1.1. Company Overview
- 8.9.1.2. Financial Performance
- 8.9.1.3. Product Portfolios
- 8.9.1.4. Strategic Initiatives
- 8.9.2. Nammex (North American Medicinal Mushroom Extracts)
- 8.9.2.1. Company Overview
- 8.9.2.2. Financial Performance
- 8.9.2.3. Product Portfolios
- 8.9.2.4. Strategic Initiatives
- 8.9.3. Nutri Avenue Inc
- 8.9.3.1. Company Overview
- 8.9.3.2. Financial Performance
- 8.9.3.3. Product Portfolios
- 8.9.3.4. Strategic Initiatives
- 8.9.4. Applied Food Sciences, Inc.
- 8.9.4.1. Company Overview
- 8.9.4.2. Financial Performance
- 8.9.4.3. Product Portfolios
- 8.9.4.4. Strategic Initiatives
- 8.9.5. Hamilton's Mushroom Extracts
- 8.9.5.1. Company Overview
- 8.9.5.2. Financial Performance
- 8.9.5.3. Product Portfolios
- 8.9.5.4. Strategic Initiatives
- 8.9.6. Naturalin Bio-Resources Co, Ltd
- 8.9.6.1. Company Overview
- 8.9.6.2. Financial Performance
- 8.9.6.3. Product Portfolios
- 8.9.6.4. Strategic Initiatives
- 8.9.7. Oriveda BV
- 8.9.7.1. Company Overview
- 8.9.7.2. Financial Performance
- 8.9.7.3. Product Portfolios
- 8.9.7.4. Strategic Initiatives
- 8.9.8. Ethical Naturals Inc.
- 8.9.8.1. Company Overview
- 8.9.8.2. Financial Performance
- 8.9.8.3. Product Portfolios
- 8.9.8.4. Strategic Initiatives
- 8.9.9. Sempera Organics
- 8.9.9.1. Company Overview
- 8.9.9.2. Financial Performance
- 8.9.9.3. Product Portfolios
- 8.9.9.4. Strategic Initiatives
- 8.9.10. Nordic Mushrooms
- 8.9.10.1. Company Overview
- 8.9.10.2. Financial Performance
- 8.9.10.3. Product Portfolios
- 8.9.10.4. Strategic Initiatives