Market Insight
Medicinal Mushroom contain some of the most rejuvenating and nourishing health compounds of any substance on earth. Increase in application of medicinal mushroom owing to the nutritional and medicinal attributes associated with it is encouraging the growth of medicinal market. Medicinal mushroom is a good source of vitamin B & D and is beneficial for various health benefits including its ability to aid weight loss, support cardiovascular health, fight cancer cells, improve energy levels and brain function, reduce inflammation, and support the immune system. The sector is driven in a major way by the demand directed from the food & beverage and nutraceuticals sector owning to the health benefits obtained from it. Health awareness and rising population of vegan consumers have prompted the growth of medicinal mushroom in the daily diet of individuals. Increase in fitness and wellness sector awareness has enhanced the market growth trajectory of the sector to an elevated level. Fast pace of lifestyle and increasing demand for meat substitutes have supported the growth of global medicinal mushroom market globally. Escalation observed in the consumption of plant-based protein is also adding fuel to the development of this market.
Medicinal Mushroom Market has witnessed constant demand during the last few years and is estimated to reach 7,246,936 tons at a CAGR of 12.60% by 2023. Medicinal mushroom is an edible specialty mushroom which has various medicinal benefits associated with them. It is commonly used in the preparation of various cuisines of East Asia. High nutritional value, as well as the medicinal value associated with the medicinal mushroom, is increasing its application in pharmaceutical industry. Various immunological and anti-cancer properties of medicinal mushroom have attracted the interest of many pharmaceutical companies, which are viewing medicinal mushroom as a rich source of innovative biomedical molecules. Moreover, increasing popularity of medicinal mushroom in cosmetics is adding fuel to the growth of the medicinal mushroom market. High consumption of medicinal mushroom in Asia Pacific, mainly in China is influencing the market growth since last few years.
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Leading Key Players
The key players profiled in Medicinal Mushroom Market Report are
- Names (North American Medicinal Mushroom Extracts) (Canada)
- Nutra Green Biotechnology Co (U.S.)
- New Roots Herbal Inc. (Canada)
- Amax NutraSource, Inc. (U.S.)
- Nyishar (U.K.)
- Real Mushrooms (Canada)
- Oriveda BV (The Netherlands)
Key players in the global mushroom market are focusing on delivering fresh medicinal mushrooms with better shelf-life to the consumers. Additionally, based on growing demand for medicinal mushrooms, players in the mushroom market are identified to invest hugely in order to strengthen their business portfolio in the global medicinal mushroom market. The best long-term growth opportunities for this sector can be captured by ensuring ongoing product improvements and financial flexibility to invest in the optimal strategies.
Latest Industry News
Sept 2017 In order to meet consumers demand for vegan protein, Kellogg announced its investment in mushroom protein company. The company invested in MycoTechnology which is a Colorado-based organic food technology company. The company engages in the production of a bitter blocker called ClearTaste and a vegan Shiitake mushroom-based protein called PureTaste.
Aug 2017 To-Jo Mushrooms partnered with Food Lion in order to launch Mushroom Chop. The product is a triple-chopped white mushrooms that provides a ready-to-blend product with ground proteins. Rising demand for mushroom has encouraged the manufacturers to bring in innovations in their products thereby increasing their sales revenue.
Jul 2017 Monterey Mushrooms announced that they are going to introduce a finely diced mushroom product for foodservice customers at the PMA Foodservice Expo in Monterey. The product has an extended shelf life. Escalating demand for mushrooms with better shelf-life has led to manufacturers focusing more on improving the shelf-life of the product.
Jul 2016 Ballyhoura Mountain Mushrooms- the Irish grower of speciality mushrooms- announced their launch of a range of mushroom-based products in the U.K. The product range include porcini oil, mushroom vinegar, mushroom ketchup and a wild garlic vinegar.
Segment
The Global Medicinal Mushroom Market has been divided into Type, Form, Function and Region.
Based on Type: Turkey Tail, Chaga, Reishi, Cordyceps, Shiitake and others
Based on Form: Liquid, Capsules, Powder and others
Based on Function: Anti-Cancer, Antioxidant, Immune Enhancer, Skin Care and others
Based on Region: North America, Europe, Asia Pacific and ROW.
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Regional Analysis
Global Medicinal Mushroom Market is segmented into Europe, APAC, North America and Rest of the World (RoW). This market is highly dominated by Asia Pacific and Europe region due to high production of mushroom and consumption demand from these regions. APAC is also considered to be the fastest growing region owning to high consumption of mushroom majorly in China and Japan. The consumption of medicinal mushroom in developing counties like India is expected to grow in the upcoming years.
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