Phenolic compounds are minor metabolites usually present in mushroom species. Because of their potential advantages for human health, such as antioxidant and other biological activities, these bioactive components have been gaining more interest as functional foods, nutraceutical agents for providing better health conditions. This review aims to comprehensively discuss the recent advances in mushroom phenolic compounds, including new sources, structural characteristics, biological activities, potential uses and its industrial applications as well as the future perspectives. Phenolic acids as well as flavonoids are considered the most common phenolics occurring in mushroom species. These are responsible for its bioactivities, including antioxidant, anti-inflammatory, antitumor, antihyperglycaemic, antiosteoporotic, anti-tyrosinase and antimicrobial activities. Several edible mushroom species with good phenolic content and show higher biological activity were highlighted, in a way for its futuristic applications. Trends on mushroom research highlighting new research areas, such as nanoformulation were discussed. Furthermore, the use of phenolic compounds as nutraceutical and cosmeceutical agents as well as the future perspectives and recommendations were made.

Consumption of phytosterols (PSs), the plant‐based analogs of cholesterol, can reduce serum cholesterol levels. This review discusses the current state of the art into the research of the structural features and dietary sources of PSs and their derivatives. The effect of PSs on individual lipid metabolites is summarized in the present review. PS‐related nonalcoholic fatty liver disease (NAFLD), obesity, and the alleviation of inflammatory bowel diseases are discussed. PSs reduce the risk of having NAFLD by improving the blood biochemical parameters related to lipid transport and metabolism. However, current research on the circulating PSs indicates its safety concern regarding fatty liver disease induction. In addition, PS oxidation products exhibit pro‐atherogenic properties, cytotoxicity oxidative stress, apoptosis, and pro‐inflammatory properties. Further research is needed to investigate the bioavailability and safety issues of PSs and their derivatives in animal models and clinical trials.