Global Medicinal Mushroom Market Report and Forecast 2024-2032

Global Medicinal Mushroom Market Outlook

The global medicinal mushroom market is expected to grow at a CAGR of 8.8% in the forecast period of 2024-2032.

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The Asia Pacific to Provide Enhanced Growth Opportunities to the Medicinal Mushroom Industry

Region-wise, the Asia Pacific is expected to witness a robust growth over the forecast period owing to the growing popularity and cultivation of medicinal mushrooms in the region. The increasing utilisation of medicinal mushroom in the production of cosmetic products is expected to significantly contribute to the regional industry growth. Moreover, the increasing number of scientific studies on medicinal mushrooms in countries like Japan, Korea, and China have brought into limelight the several benefits of their consumption. The Chinese market is expected to be one of the major regions in the Asia Pacific. The medicinal use of mushrooms, which remained restricted to Asian countries for a very long time, is also increasing in Western countries like USA, which is expected to further propel the industry growth in the coming years.

Medicinal Mushroom: Market Segmentation

Medicinal mushrooms are microscopic fungi which are used for their health-enhancing properties. They are used in various applications in powdered or liquid form for prevention, or alleviation of diseases and/or for nutritional reasons. Some of the mostly used medicinal mushrooms are chaga, cordyceps, reishi, and others.

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By type, the market is divided into:

• Reishi
• Lion’s Mane
• Chaga
• Turkey Tail
• Shiitake
• Cordyceps
• Others

Based on form, the industry can be segmented into:

• Powder
• Whole
• Slice
• Others

The market is divided based on end use into:

• Antioxidant
• Immune Enhancer
• Anti-Cancer
• Skin Care
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Health Consciousness and the Rising Demand for Functional Foods to Augment the Medicinal Mushroom Industry Growth

The rising health concern among consumers worldwide has created a huge opportunity for the medicinal mushroom industry to grow. The ever-increasing demand for functional foods from the health-conscious consumers has caused a rapid growth in demand for medicinal mushroom-based products. The growing prevalence of various lifestyle associated disorders is further propelling the market forward. Moreover, numerous benefits associated with medicinal mushrooms are being accredited by the growing number of research and scientific papers, and this is playing a huge role in providing new growth opportunities to the market. The major factor that is expected to drive the industry growth in the forecast period is the worldwide adoption of veganism owing to its health-enhancing benefits and zero animal cruelty.

Key Industry Players in the Global Medicinal Mushroom Market

The report gives a detailed analysis of the following key players in the global medicinal mushroom market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Chaga Mountain, Inc.
• Hokkaido Reishi Co. Ltd.
• Far West Fungi
• DXN Marketing 
• Swadeshi Mushroom Spawn
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report