Reishi Mushroom Market Recent Trends, Growth, Demand, Top Companies, Opportunities And Industry Forecast By 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Reishi Mushroom Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The reishi mushroom market size has grown strongly in recent years. It will grow from $4.27 billion in 2023 to $4.65 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to growing interest in traditional medicine, increased awareness of health and wellness, research and publications, expansion of dietarysupplement industry, culinary uses and adaptation.

The reishi mushroom market size is expected to see strong growth in the next few years. It will grow to $6.39 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to continued interest in holistic health, rising demand for functional foods, exploration of novel applications, global expansion of herbal medicine awareness, research and clinical studies. Major trends in the forecast period include market expansion in nutraceuticals industry, introduction of reishi mushroom powder, awareness of reishi's anti-inflammatory properties, innovations in extraction techniques, collaborations for product development.

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Key Market Players:
Major companies operating in the reishi mushroom market report are Swanson Health Products, Nutraceutical International Corporation, Gano Excel, Alphay International Inc, Nature's Way, Bio Botanica Inc., Organo Gold, Aloha Medicinals., Aloha Medicinals Inc., Terrasoul Superfoods, Four Sigmatic, Hunan Huacheng Biotech Inc., The Mushroom Company, Amax Nutrasource Inc., Dragon Herbs, New Roots Herbal Inc., Mushroom Wisdom Inc., DXN Holdings Bhd., Bristol Botanicals Limited, Qingdao Dacon Trading Co Ltd, Fungi Perfecti, Ron Teeguarden Enterprises Inc., Xi'An Greenabiotech Co Ltd, Hokkaido Reishi Co Ltd., North American Medicinal Mushroom Extracts, Mushroom Science, Fujian Xianzhilou Biological Technology Co Ltd., Real Mushrooms, Oriveda, Mycology Research Laboratories Ltd., Sayan Health Inc., SupHerb Farms, Fuyang Bestop Import and Export Ltd., Hunan Nutrmax Inc.

Market Drivers:
The surge in demand for functional foods and dietarysupplements is expected to boost the growth of the reishi mushroom market going forward. Functional foods are dietarycomponents that, in addition to supplying nutrients and energy, advantageously affect one or more specific bodily processes, either by boosting a particular physiological response or by lowering the risk of disease. Dietarysupplements are any vitamins, minerals, herbal products, or other ingestible preparations that are added to the diet to supplement it and benefit health. Reishi mushrooms are used as a dietarysupplement which is used in medicinal products to help reduce stress, boost liver and heart health, promote longevity, and enhance the immune system, which is expected to drive the growth of the market. For instance, in November 2021, according to a survey conducted by Kerry Group plc, an Ireland-based food company, four out of ten respondents (44%) reported increasing their purchases of dietarysupplements since the pandemic's start, while 42% reported increasing their purchases of functional or fortified foods and beverages. The company polled 13,000 people in 16 countries with the intention of giving manufacturers information about how COVID-19 has affected consumers' purchasing habits. Similarly, in October 2021, according to the Consumer Survey on DietarySupplements by the Council for Responsible Nutrition (CRN), a US-based trade association and lobbying group representing ingredient suppliers and manufacturers in the dietarysupplement industry, the number of Americans consuming dietarysupplements grew from 73% in 2020 to 80% in 2021. Therefore, the surge in demand for functional foods and dietarysupplements is driving the growth of the reishi mushroom market.

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The reishi mushrooms market covered in this report is segmented -
1) By Type: Cultivated, Wild
2) By Species: Ganoderma Lucidum, Ganoderma Sinensis, Ganoderma Tsugae, Other Species
3) By Form: Liquid, Powder
4) By Nature: Organic, Conventional
5) By End User: Food And beverages, Pharmaceutical, Nutraceutical And DietarySupplements, Cosmetics And Personal Care

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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