Consumer interest in health drives the growth of functional mushroom ingredients across the FMCG industry, according to GlobalData.
Consumer interest in functional mushrooms is rapidly surging as people recognise their potential health benefits. This trend drives the growth of mushroom-infused products across the FMCG industry, from food and beverages to dietary supplements and beauty, as consumers increasingly seek natural and affordable options to support their well-being, revealing GlobalData, a leading data and analytics company.
GlobalData's 2023 first quarter GlobalData Consumer Survey (21,968 responses) revealed 57 percent of global consumers believed mushrooms could positively impact their health. This growing acceptance has driven 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 percent of global consumers plan to either start or continue purchasing more dietary supplements, with 17 percent reporting they would buy them more frequently.
Ryan Whittaker, Consumer Analyst at GlobalData, commented that the world had discovered a treasure trove in fungi.
"We see many new product releases, from teas and mushroom-boosted supplements to pet care, skin care, and make-up products," said Whittaker.
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.
"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 many associated benefits."
GlobalData identified the Middle East and Africa region as the highest believer in mushrooms' positive impact on health.
Whittaker said the global frenzy for mushrooms is worldwide, but consumers in the Middle East and Africa are responding most strongly. He added that the FMCG industry thrives on trend awareness and meeting consumer needs. GlobalData's research showed that consumers in emerging economies are seeking an increased variety of mushroom-based products.
"Companies targeting new customers should note this opportunity to deliver enhanced value."
