Medicinal Mushroom Market Research Future Insights
The Medicinal Mushroom Market is expected to register a CAGR of 8.9% from 2023 to 2030 and hold a value of over USD 9.69 Billion by 2030.
Medicinal mushrooms are tiny fungi that are cast off for their medicinal benefits. Vitamin B, vitamin D, amino acids, calcium, and fiber are all rich in medicinal mushrooms. These nutrients are essential for growing antioxidant activity and lowering free radical levels in the body. They're employed in a variety of extraction procedures, counting as powder, capsules, fluids, and others.
The medicinal mushroom market share is increasing due to the rising prevalence of health problems across the world. With the emergence of medicinal mushrooms, the market growth is determined by an increased desire for functional foods among the majority of health-conscious consumers. Another significant factor boosting the market growth rate includes the high utilization of medicinal mushrooms in the treatment of the common cold, inflammation, cyclical allergies, bronchitis, and asthma. Furthermore, the advent of private-labeled brands and the increase in the number of applications in various end-use industries such as cosmetics, healthcare, and food and beverages are the main drivers that will cushion the market’s growth rate.
Key Players
Some of the key market players are Hokkaido Reishi, Banken Champignons B.V., Far West Fungi, Swadeshi Mushroom, Gourmet Mushrooms Ltd., DXN Holdings, Nikkei Marketing Limited, Chaga Mountain, Inc., Asia Pacific Farm Enterprises Inc., Concord Farms, and SSD Mushrooms
Market Segmentation
The global Medicinal Mushroom Market research has been segmented by product.
Based on product, the global medicinal mushroom market has been segmented into Chaga mushroom, reishi mushroom, and other medicinal mushrooms. The Chaga mushroom segment accounted for the largest share of the market during the forecast period. The demand for Chaga mushrooms is projected to increase due to their health benefits. In addition, the growth in health consciousness among consumers is projected to drive the growth of the Chaga mushroom segment. New product launches and continuous product innovations will also determine the growth of the market.
Regional Analysis
Asia-Pacific dominates the medicinal mushroom market and will flourish in its trend of dominance during the forecast period owing to the increasing popularity of medicinal mushroom cosmetics. North America is projected to score the highest CAGR due to the expansion in the cultivation of shiitake on natural and synthetic logs in this region.
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