Medicinal Mushroom Extracts Market Report Overview
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The global medicinal mushroom extracts market size USD 403.6 million in 2021 and market is projected to touch USD 790.9 million by 2031, exhibiting a compound annual growth rate (CAGR) of 6.9% during the forecast period.
Eastern medicine has long recognized the health advantages of medicinal mushrooms, and traditional medicine has employed them for thousands of years. These medicinal mushrooms have been shown in studies to include a variety of antioxidants, immune system boosters, and even components that assist cellular health and function. Tiny fungi known as medicinal mushrooms are employed for their therapeutic properties. Medicinal mushrooms are rich in vitamin B, vitamin D, amino acids, calcium, potassium, and fiber. These nutrients are crucial for boosting antioxidant activity and reducing the body's free radical levels. They are used in many different extraction processes as powder, capsules, fluids, and other forms.
The market for medicinal mushrooms is currently in its high growth stage and is anticipated to see a striking expansion during the anticipated period. The functional food movement, living like your ancestors did, eastern herbal medicine, and gut-healthy goods are some other convergent trends that are helping the market for medicinal mushrooms flourish.
At the intersection of all these trends, medicinal mushrooms happen to be present. However, all health claims made in the name of medicinal mushrooms must be backed by scientific evidence because after learning about the health advantages, consumers turn to the opinions of the medical communities.
COVID-19 Impact: Changes in Consumer Purchasing Behavior Led to A Drop in Demand
Following the pandemic, consumer consumption habits shifted. Due to its health benefits and consumers' significant interest in plant-based foods, edible fungus consumption rose among these. Although the foodservice industry experienced a sharp decline in sales during the first few months of the lockdown due to the rigorous closure of restaurants and cafes and limitations on public mobility, mushroom manufacturers saw a revenue decline of 50–80%. As a result of people staying inside and the HORECA sector suffering a setback, more food goods, especially fresh ones, were consumed at home.
LATEST TRENDS
"Rise of Health Problems to Promote Market Expansion "
The market for therapeutic mushrooms is expanding as health problems become more commonplace in the world. Most of the health-conscious consumers' increased desire for functional foods is what is causing the industry to expand with the introduction of therapeutic mushrooms. Another significant factor accelerating the market's growth is the growing use of medicinal mushrooms in the treatment of bronchitis, asthma, inflammation, seasonal allergies, and colds. The advent of private-label brands and the rise in the number of applications in several end-use industries, including as cosmetics, healthcare, and food & beverage, are further reasons that will slow the market's growth rate.
Medicinal Mushroom Extracts Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Powder, liquid. The powder segment is slated to dominate the market share in the future.
- By Application Analysis
Based on application, the market can be divided into Medicine, Health Products. The medicine segment is slated to dominate the market in the future.
DRIVING FACTORS
"Need for the Medicinal Mushroom Extracts to Boost Market Growth "
Market expansion for medicinal mushrooms will be aided by increasing consumer awareness and instructional marketing. The high-end customer is the main target market for therapeutic mushrooms. Spas, other beauty supplement retailers, and fashion magazines can all be used to sell the items. The market for medicinal mushrooms is predicted to expand, especially in developing nations where the shelves of grocery stores are stocked with uncommon and exotic functional foods and drinks. Collaborations with different chains that sell herbal supplements and targeted education of the target market could further spur the market expansion for medicinal mushrooms.
"Growing Awareness Towards Health Benefits to Promote Growth"
The market for medicinal mushrooms is currently in its high growth stage and is anticipated to see a striking expansion during the anticipated time frame. The functional food movement, living like your ancestors did, eastern herbal medicine, and gut-healthy goods are some other convergent trends that are helping the market for medicinal mushrooms flourish. At the intersection of all these developments, medicinal mushrooms happen to be present. However, all health claims made in the name of medicinal mushrooms must be backed by scientific evidence since after learning about the health advantages, consumers turn to the opinions of the medical communities.
RESTRAINING FACTORS
"Availability of Low Cost Alternatives to Hamper Demand "
Easy access to replacements is one of the challenges facing the market for medicinal mushroom extracts. Another barrier in the market is the low cost of alternatives. The flavor is one of the most obvious obstacles facing the therapeutic mushroom business. Industrial end users of medicinal mushrooms may incur additional expenditures by applying a significant number of masking agents to cover up their bitter and muddy flavors. Finding medicinal mushrooms may be challenging because they reflect the environment in which they are grown. Additionally, growers find it very challenging to maintain product transparency.
Medicinal Mushroom Extracts Market REGIONAL INSIGHTS
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"Easy Availability to Boost Market Penetration in Asia Pacific "
Due to the growing popularity of medicinal mushroom cosmetics, Asia Pacific currently dominates the market for medicinal mushrooms and will keep up its trend of dominance during the forecast period. The highest CAGR is anticipated for North America due to the region's increased shiitake cultivation on both natural and synthetic logs. The market for medicinal mushrooms is predicted to expand, especially in developing nations where the shelves of grocery stores are stocked with uncommon and exotic functional foods and drinks. The functional food movement, living like your ancestors did, eastern herbal medicine, and gut-healthy goods are some other convergent trends that are helping the market for medicinal mushrooms flourish.
KEY INDUSTRY PLAYERS
"Market Players Focus on New Product Launches to Strengthen Market Position"
Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.
List of Market Players Profiled
- Verygrass
- Amino Up Chemical
- Nammex
- Baikal Herbs Ltd.
- Johncan international
- Aloha Medicinals
- Limonnik
- Fungi Perfecti
- Kangxin
- Shaanxi Undersun Biomedtech
- GanoHerb
- NutraGenesis
- Naturalin
- Lgberry
- Nyishar
- Oriveda bv
- Real Mushrooms
- Innophos
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change. The research offers a thorough analysis of the market by focusing on data regarding many factors, such as drivers, constraints, opportunities, and threats. Before making an investment, stakeholders can use this knowledge to make wise judgments.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 403.6 Million in 2021 |
Market Size Value By |
US$ 790.9 Million by 2031 |
Growth Rate |
CAGR of 6.9% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the global Medicinal Mushroom Extracts Market expected to touch by 2031?
The global Medicinal Mushroom Extracts Market is expected to touch USD 790.9 million by 2031.
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What CAGR is the Medicinal Mushroom Extracts market expected to exhibit during 2031?
The Medicinal Mushroom Extracts market is expected to exhibit a CAGR of 6.9 % over 2031.
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Which are the driving factors of the Medicinal Mushroom Extracts market?
Increasing health awareness will promote the Medicinal Mushroom Extracts market growth in the future.
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Which are the top companies operating in the Medicinal Mushroom Extracts market?
Verygrass, Amino Up Chemical, Nammex, Baikal Herbs Ltd., Johncan international, and Aloha Medicinals are among the Medicinal Mushroom Extracts market players.
