Over the past few years, mushrooms have been extensively explored in the field of pharmaceutical and food science, and researchers are heading toward the search for vital components with a higher safety margin and multitarget applications. Moreover, among all age group populations, mushroom consumption has increased immensely owing to their great nutritional aspects, desirable organoleptic properties, and aroma. In addition, mushrooms continue to generate much attention chiefly in their consumption as food, as a cure for different ailments, as well as a vital commodity globally, owing to their dietary, antioxidant, and therapeutic values. Mushrooms are considered one of the important and suitable diets for patients having multiple types of diseases. Additionally, due to potential immunomodulatory effects, quality protein, and low fat, and cholesterol content, mushrooms are used as an important ingredient for food formulation. Therefore, this review article provides detailed information on Calocybe indica as they are the third most important commercially grown mushroom following button and oyster mushrooms. This review brings tangible evidence that milky white mushrooms are a great source of natural components and antioxidants with potential application in pharmaceuticals and in treating and managing different diseases. Several food applications of milky white mushrooms have also been discussed and reviewed.
Keywords: Calocybe indica; antioxidants; bioactivity; mushroom; therapeutic application.