February 22, 2018
Pune, India, / Market Research Future published a cooked research report on the global medicinal mushroom market, which is estimated to grow at a CAGR of 12.60% during the forecast period, 2017-2023.
Medicinal mushrooms are antibacterial, antifungal, and antiviral in nature. They contain some of the most rejuvenating and nourishing health compounds of any substance on earth. Each medicinal mushroom family has a different medicinal effect. The major share of medicinal mushroom production was witnessed in Asia Pacific, which held 81.45% of market share in the year 2017. It has gained popularity among the growing population for its high nutritional and medicinal benefits including its ability in aiding weight loss, supporting cardiovascular health, fighting against cancer cells, improving energy levels and brain function, reducing inflammation, and supporting the immune system. Additionally, various elements in the medicinal mushroom such as selenium, zinc, and kojic acid are beneficial for healthy skin which is adding fuel to the growth of the medicinal mushroom market.
The global market for medicinal mushroom has been experiencing high demand from the last few years and is projected to reach 7,246,936 tons by 2023 compared to 3,548,044 tons in 2017. Increasing application of medicinal mushroom in various industries is driving the market of the medicinal mushroom market. Owing to the high nutritional attributes of medicinal mushroom such as it is a good source of vitamin B & D, it is gaining popularity among the health-conscious population.
Based on the type, reishi mushroom is expected to witness the highest growth rate of 13.13% on the global level. Cordyceps mushroom is also anticipated to grow rapidly during the forecast period. Moreover, on the basis of category, the fresh medicinal mushroom is dominating the market over the past years. However, the dried medicinal mushroom is projected to witness a high growth rate of 14.04% over the forecast period. Additionally, based on the function, the medicinal mushroom is dominating in the functionality as an antioxidant and is expected to grow in this segment at a CAGR of 13.30% over the estimated period.
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By Downstream Analysis
On the basis of the type of the medicinal mushroom, the shiitake mushroom is dominating the market holding a major share of 59.26%. However, the reishi mushroom is anticipated to grow substantially over the forecast period followed by the cordyceps mushroom.
Based on the category of the medicinal mushroom, the fresh mushroom is dominating the market holding a global market share of 48.62%. However, the dried medicinal mushrooms are expected to grow substantially over the forecast period followed by processed medicinal mushrooms.
The functionality of medicinal mushroom as an antioxidant has gained huge popularity and is dominating the market with the major market share of 35.67% in the year 2017. Moreover, it is likely to witness highest growth rate followed by its functionality as an immune enhancer over the coming years.
The major key players in medicinal mushroom are:
Among the regions, Asia Pacific is dominating the medicinal mushroom market with over 81.45% of the global market share and is projected to reach more than 6,186,457 by 2023. In Asia Pacific, China is expected to grow at the highest rate followed by Vietnam over the forecast period. Moreover, RoW is projected to witness substantial growth during the forecast period 2017-2023 in which the Middle East is dominating the market and is expected to grow at the highest growth rate of 10.50% over the forecast period.