June 23, 2023
(press release)
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Consumer interest in functional mushrooms is rapidly surging as people recognize their potential health benefits. This trend is driving the growth of mushroom-infused products across FMCG industry, from food and beverages to dietary supplements and beauty, as consumers increasingly seek natural and affordable options to support their well-being, reveals GlobalData, a leading data and analytics company. GlobalData’s 2023 Q1 GlobalData Consumer Survey (21,968 responses) reveals that a robust 57% of global consumers believe mushrooms can positively impact their health. This growing acceptance is driving the surge in mushroom-infused products in various FMCG sectors, from food and beverages to dietary supplements and health and beauty. According to the survey, 34% of global consumers plan to either start or continue purchasing more dietary supplements, with 17% reporting they would buy these supplements more frequently. Ryan Whittaker, Consumer Analyst at GlobalData, comments: “The world has discovered a treasure trove in fungi. We are seeing a significant number of new product releases from teas and mushroom-boosted supplements to pet care, skincare, and make-up products.” The current cost-of-living crisis is driving consumers to re-evaluate their health investments. Mushrooms, with their cost-effective cultivation, offer added value to budget-conscious individuals seeking affordable options for wellness, aligning with their changing priorities during challenging economic times. Whittaker adds: “Health-conscious consumers are not just buying a product; they are investing in a healthier lifestyle, and mushrooms hit that ‘sweet spot’ of being natural with a lot of associated benefits.” GlobalData identified the Middle East and Africa region as the highest believer in the positive impact on health from mushrooms. Whittaker concludes: “The global frenzy for mushrooms is worldwide, but consumers the Middle East and Africa are responding most strongly. As the FMCG industry thrives on trend awareness and meeting consumer needs, it is evident that consumers in emerging economies seek an increased variety of mushroom-based products. Companies targeting new customers should take note of this opportunity to deliver enhanced value.”
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