Mushroom Extracts Market Size, Share, Trends, Industry Analysis Report: By Product, Form (Powder and Liquid), Application, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034
- Published Date:Jan-2025
- Pages: 120
- Format: PDF
- Report ID: PM5340
- Base Year: 2024
- Historical Data: 2020-2023
Mushroom Extracts Market Overview
The global mushroom extracts market size was valued at USD 12.99 billion in 2024. The market is projected to grow from USD 14.25 billion in 2025 to USD 33.51 billion by 2034, exhibiting a CAGR of 10.0% during 2025–2034.
Mushroom extracts are a concentrated form of mushrooms that have undergone grinding and processing and transformed into a powder or liquid form. The extract preserves the full spectrum of beneficial compounds inherent in mushrooms, including antioxidants, polysaccharides, minerals, vitamins, sterols, triterpenes, and enzymes. The mushroom extracts market growth is fueled by the increasing emphasis on the consumption of plant-based products. Consumers are seeking alternatives to animal-derived ingredients and are turning to natural and organic supplements that align with their dietary choices. For instance, in 2021, a global survey conducted by NSF reported that 88% of food industry practitioners anticipated a rise in demand for plant-based products. Furthermore, 74% indicated that consumers choose plant-based options to pursue a healthier lifestyle, and 60% perceived plant-based products as more environment-friendly. This rising focus and shift toward plant-based consumption are driving demand for mushroom extracts as they are plant-based sources of essential nutrients and bioactive compounds, catering to the growing need for vegan and vegetarian options. Consequently, the mushroom extracts market demand is growing significantly due to their increasing consumption across the globe.
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The efficacy of mushroom extracts in mental health treatment is significantly driving the mushroom extracts market expansion as more people are seeking natural approaches to manage mental well-being. Several people across the world are suffering from mental illness. For instance, as per the Centers for Disease Control and Prevention, ∼20% of adults in the US are affected by a mental illness, with around 4% experiencing severe conditions such as bipolar disorder, schizophrenia, or major depression. This growth in mental health problems has emphasized effective and natural treatment solutions. To treat such conditions, mushrooms have been utilized due to their potential neuroprotective and cognitive-enhancing effects, as bioactive compounds found in mushrooms stimulate nerve growth and reduce symptoms of anxiety and depression. As a result, the market for mushroom extracts is propelling due to the efficacy and increased adoption of mushrooms in promoting mental health.
Mushroom Extracts Market Trends
Innovative Product Launches
Companies are developing a diverse range of mushroom extract products, from functional beverages and dietary supplements to skincare and wellness items, which cater to varying consumer needs and preferences. In July 2024, Applied Food Sciences introduced MycoThrive Lion's Mane, an innovative mushroom extract that has been clinically studied for its effects on cognitive performance and overall well-being. Such innovations are combining mushroom extracts with other health-boosting ingredients and using advanced extraction technologies to enhance the capability to create convenient formats such as powder and liquid. Therefore, the continuous introduction of effective mushroom products to cater the diverse applications is driving the mushroom extracts market expansion.
Growing Investments to Boost Extraction Process
The mushroom extract producers are investing substantially in the extraction process to enhance the quality, efficiency, and scalability of production. In November 2020, KÄÄPÄ Biotech invested in ultrasonic-assisted extraction technology that incorporates a blend of hot water and alcohol extraction. The approach was designed to optimize the bioavailability of specific bioactive compounds within each mushroom. Such investments to develop advanced extraction technologies improve the purity of mushroom extracts, increase yields, and reduce production costs, making mushroom extracts more accessible to a broader consumer base. Thus, the market for mushroom extracts is growing due to the rising investments by the major market players in the extraction processes.
Mushroom Extracts Market Segment Insights
Mushroom Extracts Market Outlook – by Product Insights
The global mushroom extracts market segmentation, based on product, includes chaga extract, cordyceps extract, lion's mane extract, reishi extract, shiitake extract, turkey tail extract, and others. The reishi extract segment is projected to experience significant growth due to its expanding application in functional foods and beverages. Reishi, known for its immune-enhancing, stress-reducing, and anti-inflammatory properties, has become a popular ingredient in a variety of products. Thus, the companies are utilizing reishi extracts and launching innovative products to meet the growing demand for functional foods and nutraceuticals. In February 2024, REBBL, an organic and plant-based functional beverage brand, launched REBBL Revive Reishi Vanilla. The new offering is infused with 200 mg of Reishi mushroom extract, delivering several health benefits. Such rising adoption of reishi extract by functional food and beverage companies is expected to drive the significant growth of the mushroom extracts market for the reishi extract segment during the forecast period.
Mushroom Extracts Market Assessment – by Application Insights
The global mushroom extracts market segmentation, based on application, includes cosmetics & personal care, dietary supplements, functional foods & beverages, and pharmaceuticals. In 2024, the dietary supplements segment held the largest revenue share due to the increasing consumer focus on health maintenance and preventive care. Dietary supplements offer a convenient way for individuals to integrate the health benefits of mushroom extracts into their daily routines. These supplements utilize mushrooms due to their immune-boosting, stress-relieving, and cognitive-enhancing properties. Thus, the growing awareness of mushroom extracts, along with the widespread adoption in the production of health supplements, has contributed to the dominant revenue share of the dietary supplements segment.
Mushroom Extracts Market Regional Insights
By region, the study provides the mushroom extracts market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2024, North America held the largest revenue share due to the strong presence of several key players and established companies in the region. Companies, including Bio Answer Holdings Inc., PURICA, Nammex, Nutri Avenue Inc., and Applied Food Sciences Inc., in North America have significantly contributed to market growth through extensive research and product development. These companies leveraged advanced extraction technologies and introduced a wide range of mushroom extract products across various segments, including dietary supplements, functional foods, and beverages; therefore, the region is contributing to the dominant share of the global market.
The Asia Pacific mushroom extracts market is anticipated to register a significant CAGR during the forecast period due to the rapid expansion of the e-commerce industry in the region. The countries of the region are experiencing robust growth because of the increased number of internet users and investment in the industry. According to IBEF, the e-commerce industry in India is expected to reach a market size of USD 300 billion by 2030. The growth is fueled by increasing internet and smartphone usage, as well as the convenience offered by expedited delivery services. This rise of the e-commerce sector is expected to facilitate wider distribution and availability of mushroom extract products, reaching a larger audience across diverse geographical areas. Thus, the rapid expansion of the e-commerce industry across diverse countries is expected to drive the Asia Pacific mushroom extracts market growth in the coming years.
The China mushroom extracts market is projected to grow significantly due to the increasing emphasis on personalized nutrition among China-based consumers. In the country, awareness of tailored health solutions is rising, and individuals are seeking products that align with their specific health needs and lifestyle goals. The mushroom extracts that offer diverse health benefits are well-positioned to meet these personalized nutrition demands. As a result, the demand for mushroom extracts is expected to rise as consumers prioritize personalized and effective health solutions.
Mushroom Extracts Market – Key Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their offerings, which will boost the mushroom extracts market expansion. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments such as innovative product launches, international collaborations, higher investments, and mergers and acquisitions between organizations. To expand and survive in a more competitive and rising market climate, the market players must offer cost-effective solutions.
The mushroom extracts market is experiencing significant investments in technology and infrastructure by key players. Companies in the market are introducing advanced production technologies and strategic partnerships. Major companies dominate the market by leveraging extensive experience, technological advancements, and broad distribution networks. A few major players in the mushroom extracts market are Applied Food Sciences, Inc.; Bio-Botanica (Bio Answer Holdings Inc.); ETHICAL NATURALS, INC.; Hamilton's Mushrooms; Integrity Ingredients Corporation; KÄÄPÄ Mushrooms; Nammex (North American Medicinal Mushroom Extracts); Naturalin Bio-Resources Co., Ltd; Nutri Avenue Inc; PURICA; and Sempera Organics.
Applied Food Sciences, Inc. (AFS) is a manufacturer and supplier of innovative, plant-based ingredients tailored for the food, beverage, and nutritional supplement industries. AFS offers a diverse range of high-quality products, including AmaTea Max, PurGinger, PurC, PurCaf, PurTurmeric, GCA, and Preventium. Additionally, the company provides Nordic Mushrooms, a line of functional mushroom extracts that support immune health and overall well-being. In August 2023, Applied Food Sciences Inc. announced a partnership and equity investment with KÄÄPÄ Biotech, a Finland-based company focused on fungi cultivation and research. The collaboration aims to introduce organic Nordic Mushroom extracts for use in food, beverages, and supplements.
Integrity Ingredients Corporation offers a diverse range of bioactive natural ingredients designed for the personal care and cosmetics industries. The offerings of the company include advanced emulsifiers, natural preservatives, and specialty actives that enhance product efficacy. The company emphasizes research and development, collaborating closely with clients to create custom formulations that meet specific market demands. Integrity Ingredients also provides comprehensive services, including custom innovation and formulary services, to assist brands in developing unique and effective products. In June 2023, Integrity Ingredients introduced the IntegriMoist Silver Ear mushroom powder extract for skincare, derived from the Tremella Fuciformis Sporocarp. The new addition expands the company's range of mushroom-derived ingredients for skincare products.
List of Key Companies in Mushroom Extracts Market
- Applied Food Sciences, Inc.
- Bio-Botanica (Bio Answer Holdings Inc.)
- ETHICAL NATURALS, INC.
- Hamilton's Mushrooms
- Integrity Ingredients Corporation
- KÄÄPÄ Mushrooms
- Nammex (North American Medicinal Mushroom Extracts)
- Naturalin Bio-Resources Co., Ltd
- Nutri Avenue Inc
- PURICA
- Sempera Organics
Mushroom Extracts Industry Developments
In July 2024: MIGU Adaptogen Bio-tech Co., Ltd launched a new series of high-quality Shiitake mushroom extracts, further diversifying its product portfolio with Shiitake Beta Glucan, Shiitake Mushroom Mycelia Extract, and Shiitake Mushroom Extract Powder. These products are formulated to promote overall health and well-being.
In July 2022: Vibe Mushrooms launched five mushroom extracts, including Red Reishi, Cordyceps, Lion's Mane, Turkey Tail, and Master Blend, offered primarily through direct-to-consumer sales in two different formats.
In July 2022: Ethical Naturals partnered with Nammex to introduce a new range of organic mushroom extracts called Mushroom-Plus, tailored for targeted health issues. The innovative formulations feature Nammex's organic mushroom extracts combined with bioactive compounds to amplify therapeutic properties.
Mushroom Extracts Market Segmentation
By Product Outlook (Revenue, USD Billion; 2020–2034)
- Chaga Extract
- Cordyceps Extract
- Lion's Mane Extract
- Reishi Extract
- Shiitake Extract
- Turkey Tail Extract
- Others
By Form Outlook (Revenue, USD Billion; 2020–2034)
- Powder
- Liquid
By Application Outlook (Revenue, USD Billion; 2020–2034)
- Cosmetics & Personal Care
- Dietary Supplements
- Functional Foods & Beverages
- Pharmaceuticals
By Regional Outlook (Revenue, USD Billion; 2020–2034)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Mushroom Extracts Market Report Scope
|
Report Attributes |
Details |
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Market Size Value in 2024 |
USD 12.99 Billion |
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Market Size Value in 2025 |
USD 14.25 Billion |
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Revenue Forecast by 2034 |
USD 33.51 Billion |
|
CAGR |
10.0% from 2025 to 2034 |
|
Base Year |
2024 |
|
Historical Data |
2020–2023 |
|
Forecast Period |
2025–2034 |
|
Quantitative Units |
Revenue in USD Billion and CAGR from 2025 to 2034 |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
|
|
Regional Scope |
|
|
Competitive Landscape |
|
|
Report Format |
|
|
Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
The global mushroom extracts market size was valued at USD 12.99 billion in 2024 and is projected to grow to USD 33.51 billion by 2034.
The global market is projected to register a CAGR of 10.0% during 2025–2034.
North America accounted for the largest share of the global market in 2024.
A few key players in the market are Applied Food Sciences, Inc.; Bio-Botanica (Bio Answer Holdings Inc.); ETHICAL NATURALS, INC.; Hamilton's Mushrooms; Integrity Ingredients Corporation; KÄÄPÄ Mushrooms; Nammex (North American Medicinal Mushroom Extracts); Naturalin Bio-Resources Co., Ltd; Nutri Avenue Inc; PURICA; and Sempera Organics.
The reishi extract segment is projected to record the highest CAGR in the global market during the forecast period.
The dietary supplements segment held the largest share of the market in 2024.
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