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Medicinal Mushroom Market Insights, Forecast, Growth, Trends: 2024-2033
Medicinal Mushroom Market Insights
As per the report, the medicinal mushroom market size has grown rapidly in recent years. It will grow from $34.09 billion in 2023 to $37.88 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The medicinal mushroom market size is expected to see rapid growth in the next few years. It will grow to $57.95 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%.
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Rising Vegan Population Fuels Growth Of Medicinal Mushroom Market
The growing vegan population is expected to propel the growth of the medicinal mushroom market going forward. The increasing vegan population is driven by ethical, environmental, health-related, informational, and cultural factors, reflecting a growing awareness and acceptance of veganism as a viable and beneficial lifestyle choice. Medicinal mushrooms provide valuable nutritional support, health benefits, and culinary versatility for the vegan population, making them an important component of a balanced vegan diet and lifestyle. For instance, according to the Vegan Society, a UK-based registered educational charity, in 2023, 2.6 million people in Europe are now vegan, representing 3.2% of the European population, up from 2020. Therefore, the growing vegan population is driving the medicinal mushroom market.
Innovative Technologies Drive Advancements In Medicinal Mushrooms Market
Major companies operating in the medicinal mushroom market are developing innovative products with advanced technologies, such as pulsed UV light technology, to enhance cultivation efficiency and increase the bioactive compounds in their products. Pulsed UV light technology refers to the use of intense, short bursts of ultraviolet light to enhance the safety, quality, and nutritional value of medicinal mushrooms. For instance, in October 2023, Nammex, a US-based company producing organic mushroom extracts, launched two new functional mushroom ingredients ErgoGold and mushroom-derived vitamin D. ErgoGold is a powdered extract of Golden Oyster mushrooms that contains beneficial compounds such as ergothioneine (ergo), beta-glucans, ergosterol, fiber, and secondary metabolites. It is suitable for those with yeast sensitivities and individuals seeking non-synthetic, full-spectrum ingredients. Nammex's mushroom-derived vitamin D is produced using pulsed UV light technology to convert the fungal sterol ergosterol into high amounts of vitamin D2, making it a vegan ingredient that can provide the recommended daily allowance of vitamin D with as little as 60 mg. This makes it suitable for consumers looking for a plant-based source of vitamin D.
The medicinal mushroom market covered in this report is segmented -
1) By Type: Shiitake, Reishi, Maitake, Chaga, Cordyceps, Turkey Tail, Other Types
2) By Form: Fresh, Dried, Other Forms
3) By Application: Antioxidants, Immune Enhancer, Anti-Cancer, Skin Care, Other Applications
4) By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, E-Commerce
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Major companies operating in the medicinal mushroom market are Costa Group, Monterey Mushrooms LLC, Nature's Way Brands, Bio-Botanica, Banken Champignons B.V., Aloha Medicinals, Fungi Perfecti, Hirano Mushroom LLC, Fungi Ally, Far West Fungi, FreshCap Mushrooms, Swadeshi Mushroom, Asia Pacific Farm Enterprises, Gourmet Mushrooms Inc., Mycoterra Farm, Green Box Mushrooms, Shroomery, Four Sigmatic, Woodland Mushrooms, Fungaia Farm, Vitality Mushrooms, Annanda Chaga Mushrooms
Contents of the report:
1. Executive Summary
2. Medicinal Mushroom Market Report Structure
3. Medicinal Mushroom Market Trends And Strategies
4. Medicinal Mushroom Market - Macro Economic Scenario
5. Medicinal Mushroom Market Size And Growth
…..
27. Medicinal Mushroom Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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