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Psychedelic Mushroom Market Size - By Product Type (Psilocybe, Gymnopilus, Panaeolus), Form (Fresh/Whole, Dried, Processed), Application (De-addiction, Recreational, Therapeutic), Growth Prospects, Regional Outlook & Global Forecast, 2023-2032

  • Report ID: GMI6886
  • Published Date: Oct 2023
  • Report Format: PDF

Psychedelic Mushroom Market Size

Psychedelic Mushroom Market size was valued at USD 1.93 billion in 2022 and it is estimated to register a CAGR of over 10.7% between 2023 and 2032. Extensive research has unveiled the potential therapeutic benefits of psilocybin, attracted investment and contributed to its mainstream acceptance.

Psychedelic Mushroom Market

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The pressing mental health crisis has prompted a search for novel treatments, where psychedelics, including psychedelic mushrooms, are being explored as promising alternatives. As a result, investors, consumers, and entrepreneurs have shown a keen interest in this emerging sector, propelling its expansion.

The ever-evolving legal landscape can be a double-edged sword. While some regions are moving towards decriminalization or legalization, many areas still consider psychedelic mushrooms illegal, creating a patchwork of regulations that can be confusing and risky for businesses. Safety concerns are another pressing issue, as the recreational use of psychedelic mushrooms can lead to unpredictable and potentially harmful experiences, which can result in negative publicity and pose genuine risks to consumers.

COVID-19 Impact

The pandemic forced a slowdown in clinical trials and research related to psychedelics, including psilocybin-containing mushrooms. Many research projects were delayed or put on hold, which could have otherwise accelerated the legitimization and acceptance of these substances. However, the shift toward remote healthcare and telehealth services provided an avenue for the delivery of psychedelic-assisted therapies, allowing patients to receive treatment without physically visiting a clinic.

Psychedelic Mushroom Market Trends

The psychedelic mushroom industry was attracting significant attention from investors and venture capitalists. As awareness of the potential economic opportunities and therapeutic benefits of psychedelic substances increased, there was a growing influx of capital into the industry.

Psychedelic Mushroom Market Analysis

Psychedelic Mushroom Market, By Product Type, 2021 - 2032 (USD Billion)

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Based on product, the psychedelic mushroom market from psilocybe segment dominated around USD 1.70 billion revenue in the year 2022, attributed to increasing research is shedding light on its efficacy in treating mental health conditions such as depression, anxiety, and post-traumatic stress disorder, making it a focus of scientific and medical attention. Furthermore, the growing demand for alternative and holistic approaches to healthcare, coupled with a mental health crisis exacerbated by the COVID-19 pandemic, has elevated the profile of Psilocybe as a potential solution.

Psychedelic Mushroom Market Revenue Share, By Form, (2022)

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Based on form, the psychedelic mushroom market from fresh and whole segment to observe 10.3% CAGR during the forecast timeline. As consumers increasingly prioritize natural, unprocessed, and organic food options for health and wellness, this preference extends to the cultivation and use of psychedelic mushrooms. Freshly harvested and whole mushrooms are valued for their purity and potency, offering a more authentic and unadulterated psychedelic experience.

Psychedelic Mushroom Market Revenue Share, By Application, (2022)

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Based on application, de-addiction segment is set to show tremendous growth through 2032, due to a compelling shift in perspective on addiction treatment. Psychedelic mushrooms, specifically substances like psilocybin, have gained attention for their potential to address addiction issues. Research has shown promising results in using psychedelics to break the cycle of substance dependency, with users reporting profound and transformative experiences that lead to reduced cravings and long-term abstinence.

Asia Pacifc Psychedelic Mushroom Market Revenue, 2021 - 2032 (USD Billion)

The Asia Pacific psychedelic mushroom market is poised to register over 10.1% CAGR till 2032, owing to growing awareness and acceptance of the potential therapeutic benefits of psychedelics, including psilocybin mushrooms. As research continues to demonstrate their efficacy in treating mental health conditions such as depression, anxiety, and PTSD, there is a rising demand for these substances.

Furthermore, the Asia-Pacific region is home to a rich diversity of mushroom species, many of which contain psilocybin or related compounds. This has led to a surge in local cultivation and extraction efforts, as well as a burgeoning interest in traditional practices and rituals involving psychedelic mushrooms. Additionally, regulatory shifts in some parts of the Asia-Pacific have been relatively favorable, with countries like Thailand taking steps to decriminalize or regulate the use of psychedelic substances. This has created a more supportive environment for research, cultivation, and responsible consumption.

Psychedelic Mushroom Market Share

Major companies operating in the psychedelic mushroom market includes:

  • Compass Pathways
  • MindMed
  • Field Trip Health
  • Atai Life Sciences
  • Cybin Inc.
  • Mydecine Innovations Group
  • Revive Therapeutics
  • Numinus Wellness

Psychedelic Mushroom Industry News

In May 2021 Compass pathway acquired IP portfolio of novel psychedelic compounds and prodrugs.

The psychedelic mushroom market research report includes in-depth coverage of the industry with estimates & forecast in terms of transactional value (USD Billion) and transactional volume (Kilo Tonnes) from 2018 to 2032, for the following segments:

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Market, By Product Type

  • Psilocybe
  • Gymnopilus
  • Panaeolus

Market, By Form

  • Fresh/Whole
  • Dried
  • Processed

Market, By Application

  • De-addiction
  • Recreational
  • herapeutic

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Australia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
    • Egypt
Authors: Kunal Ahuja, Himanshu Kabra

Frequently Asked Questions (FAQ) :

The market size of psychedelic mushroom reached USD 1.93 billion in 2022 and is set to expand at over 10.7% CAGR from 2023 to 2032, led by the ongoing research to discover the potential therapeutic benefits.
The psilocybe product segment generated USD 1.70 billion in revenue in 2022, attributed to ongoing research initiatives along with the growing demand for alternative and holistic approaches to healthcare.
Asia Pacific market is projected to witness 10.1% CAGR through 2032, owing to the growing awareness and acceptance of the potential therapeutic benefits of psychedelics in the region.
Some of the leading psychedelic mushroom companies include Field Trip Health, Atai Life Sciences, Cybin Inc., Mydecine Innovations Group, Revive Therapeutics, and Numinus Wellness.

Psychedelic Mushroom Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 8
  • Tables & Figures: 264
  • Countries covered: 21
  • Pages: 180
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