The global medicinal mushroom market is on track to experience substantial growth in the coming years, with its market size expected to nearly double by 2031. According to a recent report by Coherent Market Insights, the market, which was valued at $34.22 billion in 2024, is expected to reach $59.41 billion by 2031. This growth reflects a compound annual growth rate (CAGR) of 8.2% over the forecast period, showing the increasing global demand for medicinal mushrooms.
The medicinal mushroom market can attribute this growth to rising consumer knowledge of the health benefits associated with these fungi. Medicinal mushrooms have long been valued in traditional medicine, particularly in Asia, for their therapeutic properties. Today, they are gaining popularity worldwide as part of a broader trend toward natural and preventive healthcare. The market’s projected growth to $59.41 billion in less than ten years represents a significant expansion, reflecting the growing consumer preference for functional foods and supplements that promote overall wellness.
Several factors contribute to the burgeoning interest in medicinal mushrooms. Medicinal mushrooms, such as reishi, cordyceps, lion’s mane, and chaga, are rich in antioxidants, antibacterial compounds, and immune-boosting properties. These fungi are also known for their potential to support metabolic health, improve cognitive function, and combat age-related health issues such as heart disease and diabetes. As consumers become more health-conscious, there is a growing shift toward preventive healthcare. This trend is particularly evident in the rising demand for natural products like medicinal mushrooms, which are perceived as safer and more holistic alternatives to synthetic drugs. The market’s growth is further fueled by the expanding application of medicinal mushrooms in various sectors, including food and beverages, pharmaceuticals, and personal care products.
Within the medicinal mushroom market, adaptogenic mushrooms are emerging as a key segment. Adaptogens are substances that help the body adapt to stress and restore balance. Reishi, cordyceps, and chaga are among the most popular adaptogenic mushrooms, known for their ability to support the body’s resilience to physical, emotional, and environmental stressors. The increasing demand for adaptogenic mushrooms is expected to create lucrative opportunities for market players over the forecast period.
Reishi mushrooms, in particular, make up the largest share of the global medicinal mushroom market, valued at approximately $12 billion in 2024. Known for their numerous health benefits, including immune system support, stress reduction, and heart health, reishi mushrooms are widely used in dietary supplements, herbal teas, and functional foods. Cordyceps, another popular medicinal mushroom, holds around 15% of the total market share, valued at $5.1 billion in 2024. Cordyceps are renowned for their ability to enhance athletic performance, boost energy levels, and support lung health.
Technological advancements in mushroom cultivation are also playing a crucial role in the market’s growth. Leading players in the medicinal mushroom industry are increasingly focusing on developing advanced indoor cultivation technologies to ensure high yields and a consistent supply of mushrooms. Innovations such as artificial intelligence, the Internet of Things (IoT), and hydroponics are being explored to optimize growing conditions and increase productivity. These advancements are anticipated to further boost market expansion.
The growing consumer focus on preventive healthcare and immunity-boosting foods is a significant trend driving the medicinal mushroom market. The immune system segment dominates the market, accounting for over 40% of the application share. As consumers become more health-conscious, they are increasingly incorporating medicinal mushrooms into their diets to support overall wellness and address specific health concerns. Regionally, North America is expected to hold a dominant position in the global medicinal mushroom market over the forecast period, thanks to the increasing popularity of natural and organic products. As consumers continue to seek natural and holistic approaches to healthcare, the demand for medicinal mushrooms is expected to rise, creating new opportunities for market players and driving further innovation in the industry.
