Shroom Boom Offers New Possibilities for Medicine and Functional Foods
NetworkNewsWire Editorial Coverage
NEW YORK, March 4, 2020 /PRNewswire/ -- The widening legalization of products based on psychogenic mushrooms looks set to create a whole new strand of functional foods and medicines.
- The widening legalization of psilocybin, an active ingredient in mushrooms, is allowing producers to create new foods, drinks and medicines.
- Major research institutions and investors are throwing their weight behind this growing trend.
- Psilocybin has potential as both a mental health medicine and an ingredient in wellness foods and drinks.
Canadian company Champignon Brands Inc. (CSE:SHRM) (Profile) is one of the first to provide such products and is securing listings in the United States and Germany as it sets out to expand its product line. Such products could soon be on shelves alongside the likes of Beyond Meat Inc. (NASDAQ:BYND), which provides healthy, plant-based alternatives to traditional foods and drinks. To do this, mushroom companies will need to reach retailers such as United Natural Foods Inc. (NYSE:UNFI) and Amazon.com Inc. (NASDAQ: AMZN) subsidiary Whole Foods Market, which cater to environment- and health-conscious customers. In addition, these companies will also be looking to get social eateries and cafes such as Starbucks Corporation (NASDAQ:SBUX) to add to their offerings.
To view an infographic of this editorial, click here.
Make Room for Mushrooms
With the legalization of medical cannabis in many jurisdictions, regulators and businesses are re-examining which natural drugs are legally available for consumers. Mushrooms, with their powerful ability to affect brain chemistry, look set to become the next major legalization drive in America.
Businesses and investors are moving to make the most of this space. Like the mushrooms themselves, new companies are springing up out of fertile ground. These companies aim to provide customers with the health benefits that mushrooms can bring, while providing investors with opportunities in this nascent market.
The 'Shroom Boom'
Among these companies is Champignon Brands Inc. (CSE:SHRM), one of the only public companies focused entirely on a mushroom-to-market strategy. Champignon offers consumer packaged goods (CPGs), currently in the form of a range of teas, that make use of functional mushrooms and, as such, provides an opportunity for entry-level exposure to the burgeoning boom in mushroom products.
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