Mushroom Extracts Market Size To Reach $23.27 Billion By 2030

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 KÄÄPÄ 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.

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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.

Mushroom Extracts Market Segmentation

Grand View Research has segmented the global mushroom extracts market based on product, form, application, and region:

Mushroom Extracts Product Outlook (Revenue, USD Million, 2018 - 2030)

• Shiitake Extract

• Reishi Extract

• Lion's Mane Extract

• Cordyceps Extract

• Turkey Tail Extract

• Chaga Extract

• Others

Mushroom Extracts Form Outlook (Revenue, USD Million, 2018 - 2030)

• Powder

• Liquid

Mushroom Extracts Application Outlook (Revenue, USD Million, 2018 - 2030)

• Dietary Supplements

• Functional Foods & Beverages

• Pharmaceuticals

• Cosmetics & Personal Care

Mushroom Extracts Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Central & South America

  • Brazil

• Middle East & Africa

  • South Africa

List of Key Players in the Mushroom Extracts Market

• Bio Answer Holdings Inc.

• Nammex (North American Medicinal Mushroom Extracts)

• Nutri Avenue Inc

• Applied Food Sciences, Inc.

• Hamilton's Mushroom Extracts

• Naturalin Bio-Resources Co, Ltd

• Oriveda BV

• Ethical Naturals Inc.

• Sempera Organics

• Nordic Mushrooms