ID: MRFR/F-B & N/3315-CR | July 2020 | Region: Global | 110 pages
The global medicinal mushroom market is expected to reach USD 15,380.2 Million by the year 2026 and register a CAGR of 6.1% during the forecast year.
The medicinal mushroom extract is the liquid extract or dried powder of medicinal mushrooms. It is mainly used for preventing, alleviating, and healing different complicated diseases and ensuring a balanced and healthy diet. Owing to the many health benefits of the extract, the medicinal mushroom market size is expected to witness notable growth during the forecast year. The increase in focus on preventive healthcare relating to medicinal mushrooms will boost the growth of the global market.
The report studies the overall size of the global medicinal mushroom extracts market and its growth during the forecast period. It provides a plethora of information about the market dynamics, growth opportunities, competitive analysis, and recent developments in the industry. The report also sheds light on the segmentation of the global medicinal mushroom extract market along with the opportunities for growth.
COVID 19 Analysis
COVID 19 pandemic has significantly impacted the global medicinal mushroom extract market by reducing the demand and production of medicinal mushrooms. The outbreak of novel Coronavirus has disrupted the global market and its supply chain. It also had a financial impact on the key players of the industry.
However, the medicinal mushroom extract manufacturers are adopting beneficial strategies to overcome the potential challenges and increase the growth of the global market. The combined efforts of medicinal mushroom producers, manufacturers, and government are likely to boost the market growth during the forecast year.
Medicinal Mushroom Extract Market Dynamics
The increase in the number of health-conscious people who desire to lead a healthy lifestyle is a significant driving factor of the medicinal mushroom extract market. The growing awareness among people and the rise in focus on preventive healthcare products to address health problems are other factors that drive the market growth.
The concerns relating to the increase in the occurrence of health issues such as weak immune systems, obesity, and malnutrition make it essential for consumers to opt for different preventive healthcare options. The rise in awareness about the supplements to prevent these health issues is anticipated to increase the demand for medicinal mushroom extracts.
The increase in the need for functional foods has increased the growth opportunities for the global medicinal mushroom extract market. The untapped markets in different developing countries further create new growth opportunities for the medicinal mushroom liquid extract.
The demand for functional foods is high among the health conscious individuals. Owing to the plenty of growth opportunities, the global market of the medicinal mushroom extract is expected to experience steady growth during the forecast year.
The environmental constraints are a major limitation that is anticipated to hinder the growth of the medicinal mushroom extract industry. The lack of appropriate production skills is another factor that restricts market growth.
The logs on which the mushrooms grow need sufficient natural daylight and darkness equally for maintenance of internal moisture levels. However, the absence of the controlled environment requirements is likely to hamper the market growth.
The COVID 19 situation that has significantly impacted the demand and supply of medicinal mushroom extract is a major challenge for the market. It has disrupted the regular operations of the key players in the market.
However, the major players of the global medicinal mushroom extract market are incorporating approaches and strategies to effectively cope up with the situation. The implementation of the strategic plans is expected to increase the demand for medicinal mushroom extract and accelerate market growth.
The global market of medicinal mushroom extract will grow by USD 15,380.2 Million during the forecast year. The market is projected to record a CAGR of 6.1% by the year 2026.
The key players of the industry are putting in efforts to enhance the production of medicinal mushroom extract and drive the growth of the market.
A number of innovative technologies are being adopted in the global medicinal mushroom extract market. Latest cultivation technologies are used to increase the efficiency of the production of medicinal mushroom extract.
The technological developments in the global medicinal mushroom extract market are expected to increase during the forecast year.
Segmentation Analysis of Medicinal Mushroom Extract
Depending on the form, the global medicinal mushroom market is segmented into powder, capsules & tablets, and liquid. The capsules & tablets segment dominates the global market owing to its easy and wide availability.
The capsules & tablets segment is projected to experience significant growth during the forecast year owing to its longer shelf life and convenience of use.
Based on type, the global medicinal mushroom extract market is classified as reishi, maitake, shiitake, chaga, turkey tail, cordyceps, and others. The shiitake segment occupies the largest share in the global market.
The cordyceps segment is anticipated to witness rapid growth during the forecast year owing to the increase in its use for the treatment of kidney disorders.
Based on function, the global medicinal mushroom extract market is divided into skin care, immunity enhancers, antioxidants, and others. The antioxidants segment occupies the largest share in the global market due to its ability to protect against genetic mutation and cellular damage.
The antioxidant segment is likely to record significant growth during the forecast year. The ability of antioxidants to protect human cells against free radicals that can causes diseases like cancer, heart issues, and others is a prominent reason for the expected growth.
Regional Analysis of the Market
Based on geographical regions, the global medicinal mushroom extract market is classified as North America, Asia Pacific, Europe, and the Rest of the World. The Asia Pacific region occupies a dominant share of the medicinal mushroom extract market.
The increase in the demand for medicinal mushroom blend water extract owing to the high nutritional and medicinal value is a major reason for the market expansion. China is a significant contributor to the growth of the Asia Pacific market region. Asia Pacific market is expected to register a CAGR of 5.8% during the forecast year owing to the increase in awareness among consumers and growth of the organized retail sector. The medicinal mushroom extract market of Europe is also forecasted to witness significant growth during the forecast year.
Key Market Players of the Market
The major players in the global medicinal mushroom extract market are Bio Botanica, Inc. (US), New Roots Herbal, Inc. (Canada), Nature's Way Products, LLC (US), Aloha Medicinals (US), The Nature's Bounty Co. (US), Biofinest (US), Real Mushrooms (Canada), Oriveda BV (Netherlands), Nyishar (UK), and Sayan Chaga (US). More players are entering the global market and significantly contributing to market growth.
Aloha Medicinals (US) is a leading cultivator and supplier of medicinal mushrooms. The company offers the world's best medicinal mushroom extract and related products. It is one of the largest producers of 100% organic and American-grown medicinal mushrooms around the globe.
The global market report of medicinal mushroom extract covers the following:
The report highlights the growth strategies of the medicinal mushroom extract and forecasts for increase in revenues.
Frequently Asked Questions (FAQ) :
The global medicinal mushroom extract market is intended for manufacturers of medicinal mushroom extract, pharmaceutical manufacturers, industrial bodies, governments and associations, food and beverage manufacturers, distributors, traders, and wholesalers, and investors and trade experts.
The global medicinal mushroom extract market is segmented on the basis of type, form, function, and geographical region.
The medicinal mushroom extracts are mainly used for the purpose of controlling a number of diseases. It is also used for controlling cholesterol levels, improving lung function, preventing cardiovascular diseases, and regulating the immunity system.
The major players of the global medicinal mushroom extract market are The Nature's Bounty Co. (US), Oriveda BV (Netherlands), New Roots Herbal, Inc. (Canada), Nature's Way Products, LLC (US), Bio Botanica, Inc. (US), Aloha Medicinals (US), and Real Mushrooms (Canada).