Functional Mushroom Market Set to Grow in Coming Years

In 2020, functional mushrooms successfully transitioned from the wellness pipeline into the mainstream market, with more opportunities set to open up as many anticipate extensive psychedelic legalization. Oregon legalizing the use of psilocybin mushrooms, a psychedelic, for therapeutic use and the potential and health benefits of these mushrooms are good signs.

People looking to consume adaptogens can find mushrooms in literally anything, including jerky, supplements, tea and coffee as well as beauty products. The functional mushroom market on a global scale was valued at $23 billion last year. The forecasted compound yearly growth rate is said to be 5.6% over the next five years.

MUD/WTR CEO and founder Shane Heath stated that the company had observed functional mushrooms become more popular mainstream products last year, especially in the U.S. wellness market. Heath started brewing his mushroom tea as an alternative for coffee while he was still working in the tech industry. Four Sigmatic, a mushroom coffee start-up, inspired his journey. Heath tested various mixtures of mushrooms, including lion’s mane, reishi, cordyceps and chaga, in addition to turmeric and chai. He then turned his brews into a business after bringing his concoctions to festivals and his office.

While products infused with mushrooms could only be found at wellness retailers such as CAP Beauty and Goop through brands such as Sun Potion and Moon Juice, the products are now widely available at major retailers. For instance, MUD/WTR is sold at Free People and Urban Outfitters retailers nationwide, in addition to being available at Erewhon, a wellness grocery store in Los Angeles. This year, the company plans to launch its products in Equinox and Thrive Market.

With regard to the beauty world, consumers looking to purchase mushroom-infused products can find plenty of options. Examples include Acure’s mushroom-infused hair conditioner as well as Youth to the People’s adaptogen deep moisture cream, which has been infused with reishi from Sephora. Earlier last year, Mara, a clean beauty brand, launched a supplement and vitamin C serum infused with reishi, noting that the adaptogens calm both redness and sensitivity. Additionally, both Sephora and Ulta stock Four Sigmatic coffee.

Apart from this, companies such as Rainbo offer supplements that have been infused with adaptogenic mushrooms including cordyceps and lion’s mane. Scientific research has also linked eating mushrooms with better performance of the brain. However, complete benefits and potential are still being explored in different studies.

This shows that there are many spaces that mushrooms may venture into as time goes by, with their potential and benefits being studied in numerous research studies.

For its part, British Columbia-based Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) is poised to be the pacesetter on matters of rapidly developing as well as commercializing psychedelic medicines and functional mushroom products.

NOTE TO INVESTORS: The latest news and updates relating to Pure Extracts Technologies Corp. (CSE: PULL) are available in the company’s newsroom at https://ibn.fm/PULL

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