Global Medicinal Mushroom Market Size To Grow At A CAGR Of 8.8% In The Forecast Period Of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Medicinal Mushroom Market Size, Share, Price Trends, Industry Report, Key Players, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 8.8%
The increasing cases of chronic diseases, changing lifestyles of the working population, and growing healthcare awareness are some of the factors triggering the demand for medicinal mushroom. In addition, the increasing prevalence of cancer and immunological diseases is providing impetus to the market. Moreover, the increasing awareness pertaining to the anti-inflammatory and antioxidant properties of the product is further propelling the medicinal mushroom market growth.
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Medicinal mushroom also possesses important skin care properties. In this regard, the increasing incorporation of medicinal mushrooms in cosmetics and personal care products is adding to the market growth. Over the forecast period, the anticipated increase in focus towards improving skin care regimes is expected to bolster the application of medicinal mushrooms in the personal care industry.
The increasing geriatric population across the emerging economies is leading to a heightened demand for immune-boosting functional foods, which is further likely to shape the medicinal mushroom market dynamics in the coming years. Furthermore, an increase in availability of clean-labelled medicinal mushroom products is being witnessed. The expansion of the retail sector, coupled with rapid urbanisation, is likely to boost the sale of medicinal mushrooms in the forecast period.
Medicinal Mushroom Industry Definition and Major Segments
Medicinal mushrooms are forms of microscopic fungi that are used for medicinal purposes. They are consumed in powder or liquid form for their various health benefits, including the prevention and treatment of various chronic diseases. An ancient medicine which has been used for centuries, medicinal mushroom can also be consumed to fulfil the nutritional requirements.
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Based on type, the market can be segmented into:
On the basis of form, the market has been divided into:
Based on end use, the market has been segmented into:
On the basis of region, the market can be categorised into:
Middle East and Africa
Medicinal Mushroom Market Trends
The key trends in the global medicinal mushroom market include the growing expansion of the healthcare sector across developed and developing economies. The increasing expenditure of governments aimed towards improving the penetration of natural medicinal foods across healthcare units and retail stores is being witnessed.
The burgeoning e-commerce industry is another crucial trend propelling the sale of premium medicinal mushroom extracts and powder, attracting the customers through attractive packaging. The market is expected to witness expansion of opportunities owing to the growing research and development activities aimed towards understanding the scope of medicinal mushrooms across various industries.
In geographical terms, Asia Pacific holds a decent share in the medicinal mushroom market, which is being driven by the rising demand for downstream products of medicinal mushroom. The rising disposable income, which is being triggered by the strong economic growth of countries such as India, and China, among others, is further providing impetus to the market.
Key Market Players
The major players in the medicinal mushroom market report are Chaga Mountain, Inc., Hokkaido Reishi Co. Ltd., Far West Fungi, DXN Marketing Sdn Bhd, and Swadeshi Mushroom Spawn, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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