Humans have used mushrooms from the beginning of their history. However, during the last few decades, the market demand for these fruiting bodies has increased significantly owing to the spread in the capabilities of culinary and pharmacological exploitation. Natural mushroom resources have become insufficient to meet the support needs. Therefore, traditional methods of extensive cultivation as well as modern technologies have been exploited to develop effective growing recommendations for dozens of economically important mushroom species. Mushrooms can decompose a wide range of organic materials, including organic waste. They play a fundamental role in nutrient cycling and exchange in the environment. The challenge is a proper substrate composition, including bio-fortified essential elements, and the application of growing conditions to enable a continuous supply of fruiting bodies of market quality and stabilized chemical composition. Many mushroom species are used for food preparation. Moreover, they are treated as functional foods, because they have health benefits beyond their nutritional value, and are used as natural medicines in many countries. Owing to the rapid development of mushroom farming, we reviewed the growing technologies used worldwide for mushroom species developed for food, processing, and pharmacological industries.