U.S. Psychedelic Mushroom Market Size, Share & Trends Analysis Report By Product (Psilocybe, Gymnopilus, Panaeolus), By Form (Dried, Processed), By Application (De-addiction, Recreational), And Segment Forecasts, 2023 - 2030

Market Size & Trends

The U.S. psychedelic mushroom market size was valued at USD 1,837.6 million in 2022 and is expected to grow at a compounded annual growth rate CAGR of 11.3% from 2023 to 2030.. There is a growing movement in the U.S. to decriminalize the use of psychedelic mushrooms, as well as other plant-based entheogens. Several cities and states have already taken steps to decriminalize or legalize the use of these substances, which has led to increased interest and demand. Psychedelic mushrooms have shown promise in treating a range of mental health conditions, including depression, anxiety, PTSD, and addiction. As more research is conducted on their therapeutic potential, demand for these substances is likely to increase. The main applications of these products include the treatment of depression and anxiety disorders. psilocybin can help alleviate symptoms of depression and anxiety, and can even produce long-lasting positive changes in personality and behavior. This has led to a growing interest in the use of psilocybin as a potential treatment for a range of mental health conditions, including post-traumatic stress disorder (PTSD), addiction, and end-of-life anxiety in patients with terminal illness.

The driving force behind the U.S. psychedelic mushroom market is the growing movement to decriminalize these substances. Some cities, such as Denver, Colorado and Oakland, California, have passed laws that make enforcement of laws against the possession and use of psychedelic mushrooms a low priority. In addition, there are advocacy groups working to change state and federal drug laws to allow for greater access to psychedelic therapies.

There is also a growing body of scientific research into the potential therapeutic benefits of psychedelic mushrooms and other psychedelics. Several clinical trials have been conducted or are currently underway to investigate the safety and efficacy of these substances in treating various mental health conditions. If these studies yield promising results, it could lead to increased mainstream acceptance of psychedelic therapies and greater demand.

Research has shown that psilocybin can produce changes in brain activity that may help alleviate symptoms of depression. In clinical trials, participants with depression who were given psilocybin reported significant improvements in their mood, as well as reduced anxiety and feelings of hopelessness.

Compass Pathways, a mental healthcare company, has conducted a trial indicating that psilocybin, the psychedelic substance present in magic mushrooms, can be effective in alleviating severe depression when administered in combination with psychotherapy.

Product Insights

In the types segment, psilocybe dominated the market with over USD 1,651.6 million revenue market share in 2022. The segment is also expected to witness a significant CAGR of 11.4% over the projected period. The demand for psilocybe psychedelic mushrooms in the U.S. is growing for a variety of reasons, including changing attitudes towards psychedelic drugs, increasing research into their therapeutic potential, and a growing trend towards natural and holistic health practices.

The shift in attitudes towards psychedelic drugs in recent years, particularly in the context of mental health treatment. Researchers have found that certain psychedelic substances, including psilocybin, may be effective in treating conditions such as depression, anxiety, and post-traumatic stress disorder (PTSD). This has led to increased interest and advocacy for the use of these substances in therapeutic settings.

Additionally, there is a growing trend towards natural and holistic health practices, which includes the use of natural substances like psilocybin. As people become more conscious of the potential side effects and risks associated with pharmaceutical drugs, they may be turning to alternative treatments like psychedelics.

Form Insights

The market for dried was the largest in 2022 and is anticipated to expand at a CAGR of 11.0% by revenue over the forecast period. The dried psychedelic mushrooms are popular in the U.S. because they are seen as a natural and relatively safe way to experience altered states of consciousness. Additionally, there has been growing interest in the potential therapeutic benefits of psilocybin, which may be driving some of the demand for these mushrooms. It's also worth noting that the internet has made it easier to purchase a wide range of products, which may contribute to their popularity in the U.S.

The market for processed psychedelic mushroom form in U.S. is expected to witness a significant growth with a CAGR of 11.9% over the projected period. People may prefer processed psychedelic mushrooms like gums and gellies because they are easier to consume than dried mushrooms and may have a more consistent dose of psilocybin. These products may also be more discreet and convenient to use, as they can be consumed without the need for any additional equipment or preparation.

In addition, various product launches by key players is increasing the demand for this segment. For instance, in January 2023, Galaxy treats launched Amanita mushroom gummies. These psychedelic gummies, which come in two flavors (Watermelon and Mango) and each contain 350mg of amanita mushroom extract, are especially designed to produce a relaxed, psychedelic high.

Application Insights

The recreational segment had the highest revenue of USD 526.5 million in 2022. Some people use psychedelic mushrooms recreationally to experience altered states of consciousness and to induce euphoria and creativity. It contains psilocybin, which is a powerful hallucinogenic compound that can produce a range of effects on the mind and body.

When ingested, psilocybin is metabolized into psilocin, which binds to serotonin receptors in the brain, leading to changes in perception, thought, and emotion. These effects can include altered sensory perception, changes in mood, and altered states of consciousness.

In addition, users report experiencing a sense of euphoria or "mystical" experience, while others may have a more challenging experience, including anxiety, paranoia, or feelings of confusion. Creativity and enhanced problem-solving abilities are also commonly reported effects of psilocybin use.

De-addiction application in U.S. psychedelic mushroom market is expected to witness a significant growth with a CAGR of 12.1% by revenue over the projected period. Psychedelic mushrooms, have been studied as a potential treatment for depression.

Psilocybin, is a potential treatment for substance abuse when paired with therapy. It has shown promise for treating addiction to alcohol, drugs, and nicotine, but its long-term effectiveness and high cost in healthcare settings are still uncertain. While not addictive, psilocybin has downsides including anxiety and side effects like vomiting or loss of coordination. Some are concerned that it is not being evaluated in low-income communities where addiction is prevalent.

Key Companies & Market Share Insights

The U.S. psychedelic mushroom market is expected to witness moderate competition among the companies owing to the presence of numerous players across the industry. Owing to changing consumer trends, numerous companies are expanding their product portfolio to gain a competitive edge in the market.Some of the key players include Shroomland, Galaxy Treats, Blissmushrooms, oneupmushroomsbar.com, Psychedelic Mushy, Psilocybin Lounge among others.

Manufacturers are increasingly engaged in R&D activities related to products that are used in the manufacturing of U.S. Psychedelic Mushroom. They are also expanding their product portfolio to meet the growing demand for U.S. Psychedelic Mushroom from the application industry. For instance, In June 2021, Bob Marley's family has partnered with Silo Wellness to launch Marley One, a global brand offering functional mushroom tinctures for health and wellness benefits. The tinctures are legal to purchase and will be available online and through retailers.Some of the prominent players in the U.S. psychedelic mushroom market are:

• Shroomland

• Galaxy Treats

• Blissmushrooms

• oneupmushroomsbar.com

• Psychedelic Mushy

• Psilocybin Lounge

U.S. Psychedelic Mushroom Market Report Scope

U.S. Psychedelic Mushroom Market Report Segmentation

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global U.S. psychedelic mushroom market report based on product, form, application, and country:

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Psilocybe

    • Psilocybe cubensis

    • Psilocybe semilanceata

    • Psilocybe azurescens

    • Psilocybe cyanescens

    • Psilocybe baeocystis

  • Gymnopilus

    • Spectabilis

    • Others

  • Panaeolus

• Form Outlook (Revenue, USD Million, 2017 - 2030)

  • Fresh/Whole

  • Dried

  • Processed

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Depression Relief

  • Anxiety Relief

  • De-addiction

  • Recreational

  • Others

• Country Outlook (Revenue, USD Million, 2017 - 2030)

  • U.S.