South Africa Functional Mushroom Market Size & Outlook
South Africa functional mushroom market, 2018-2030 (US$M)
Related Markets
South Africa functional mushroom market highlights
- The South Africa functional mushroom market generated a revenue of USD 712.7 million in 2023 and is expected to reach USD 1,565.6 million by 2030.
- The South Africa market is expected to grow at a CAGR of 11.9% from 2024 to 2030.
- In terms of segment, shiitake was the largest revenue generating product in 2023.
- Reishi is the most lucrative product segment registering the fastest growth during the forecast period.
Functional mushroom market data book summary
| Market revenue in 2023 | USD 712.7 million |
| Market revenue in 2030 | USD 1,565.6 million |
| Growth rate | 11.9% (CAGR from 2023 to 2030) |
| Largest segment | Shiitake |
| Fastest growing segment | Reishi |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Reishi, Cordyceps, Lions Mane, Turkey Tail, Shiitake, Chaga |
| Key market players worldwide | Way Of Will, M2 Ingredients, Monterey Mushrooms, REBBL, SoTru, North American Medicinal Mushroom Extracts, Monaghan |
Other key industry trends
- In terms of revenue, South Africa accounted for 2.2% of the global functional mushroom market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa functional mushroom market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1,565.6 million by 2030.
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Functional Mushroom Market Scope
Functional Mushroom Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa functional mushroom market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to functional mushroom market will help companies and investors design strategic landscapes.
Shiitake was the largest segment with a revenue share of 34.07% in 2023. Horizon Databook has segmented the South Africa functional mushroom market based on reishi, cordyceps, lions mane, turkey tail, shiitake, chaga covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing demand for psilocybin/psychedelic mushrooms for treating depression and anxiety along with the rising consumption of Reishi mushrooms is expected to drive the functional mushroom market in the country.
Processed functional mushroom products are gaining preference owing to increased processed food consumption. However, fresh mushrooms are produced extensively due to increased demand from pharmaceutical companies for developing medicinal products.
The developing e-commerce industry is also expected to pick up the pace in the coming years, thereby driving functional mushroom distribution through online stores in South Africa.
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Target buyers of South Africa functional mushroom market databook
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Our clientele includes a mix of functional mushroom market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Africa functional mushroom market , including forecasts for subscribers. This country databook contains high-level insights into South Africa functional mushroom market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa functional mushroom market size, by product, 2018-2030 (US$M)
South Africa Functional Mushroom Market Outlook Share, 2023 & 2030 (US$M)
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