Reishi Mushroom Extract Market size is estimated to reach $5.3 billion by 2027, growing at a CAGR of 8.7% during the forecast period 2022-2027. Reishi mushroom also termed Lingzhi mushroom is a polypore fungus (“bracket fungus”) belonging to the genus Ganoderma which is utilized in conventional Chinese medicine. The Lingzhi or Reishi medicinal mushroom Ganoderma lucidum (higher Basidiomycetes mushroom) is recognized owing to its health-advancing characteristics. The consequences of Ganoderma lucidum extract on cancer, hypertension, hypercholesterolemia, and hepatitis have been recorded by heaps of researchers. One of the most significant consequences of the reishi mushroom is that it can boost the immune system. However, most of the research demonstrates that reishi mushrooms do not enhance cholesterol, blood sugar, or antioxidants in the body.
The surging application of Reishi Mushroom Extract as a constituent in food and beverage is set to drive the Reishi Mushroom Extract Market. The proliferating application of reishi mushrooms to support the reestablishment of optimal hormonal levels to enhance the cardiovascular system owing to high blood pressure and high cholesterol occasionally brought about by hormonal issues, inclusive of thyroid ailments or soaring quantities of stress and to boost the immune system is set to propel the growth of the Reishi Mushroom Extract Market during the forecast period 2022-2027. This represents the Reishi Mushroom Extract Industry Outlook.
Reishi Mushroom Extract Market Segment Analysis – By Product Type:
The Reishi Mushroom Extract Market based on product type can be further segmented into Organic Extract and Conventional Extract. The Organic Extract Segment held the largest market share in 2021. This growth is owing to the increasing awareness of the health advantages of reishi mushrooms among consumers. Organic reishi mushrooms can be utilized for combating cancer and can enhance the immune system. The enhanced heart health and improved blood sugar level attributed to organic reishi mushrooms are further propelling the growth of the Organic Extract segment.
Furthermore, the Organic Extract segment is estimated to grow with the fastest CAGR of 9.4% during the forecast period 2022-2027 owing to the soaring preference of consumers worldwide for natural and healthy products amidst the COVID-19 pandemic when the immune system needs to be strengthened to combat attacks by different viruses.
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Reishi Mushroom Extract Market Segment Analysis – By Application:
The Reishi Mushroom Extract Market based on the application can be further segmented into Food And Beverage, Dietary Supplements, Personal Care, and Pharmaceutical. The Food And Beverage Segment held the largest market share in 2021. This growth is owing to the soaring application of reishi mushrooms in functional foods amidst health-conscious consumers. Reishi Mushrooms can boost the immune system and are used in the treatment of cancer. The emerging inclination of consumers towards organic and healthy diet options like organic reishi mushroom extracts in developing countries is further propelling the growth of this segment.
Furthermore, the Pharmaceutical segment is estimated to grow with the fastest CAGR of 9.5% during the forecast period 2022-2027 owing to the surging application of reishi powders, dietary supplements, and tea generated from distinct portions of the mushroom for applications like curbing blood glucose levels, modulation of the immune system, hepatoprotection, and more.
Reishi Mushroom Extract Market Segment Analysis – By Geography:
The Reishi Mushroom Extract Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific (Reishi Mushroom Extract Market) held the largest share with 33% of the overall market in 2021. The growth of this region is owing to the soaring production and consumption of reishi mushrooms in China, Japan, and Korea in the region. Reishi Mushrooms boost the immune system. The surging application of reishi mushrooms as “Elixir Of Life” in Chinese medicine and the accelerated growth of the catering industry in the region is further propelling the growth of the Reishi Mushroom Extract Market in the Asia-Pacific region.
Furthermore, the North American region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like proliferating application of plant-based constituents in personal care and cosmetic products in the North American region. The surging application of Reishi Mushroom Extract for therapeutic usage and in the fast-growing pharmaceutical industry owing to its ability to boost the immune system is further fueling the progress of the Reishi Mushroom Extract Market in the North American region.
Reishi Mushroom Extract Market Drivers
Soaring Applications Of Reishi Mushrooms To Boost Immune System Are Projected To Drive The Growth Of Reishi Mushroom Extract Market:
Reishi mushroom has numerous immune-boosting advantages demonstrated in both conventional medicine and scientific investigations. This is possibly owing to its soaring concentration of advantageous phytochemicals, inclusive of triterpenoids, polysaccharides, and peptidoglycans. Numerous investigations have discovered that reishi mushrooms can increase white blood cell production, accountable for combating infectious ailments and cancer. These advantages are specifically evident in those with existing medical conditions and sicknesses. Reishi mushroom has been utilized as a cancer treatment for numerous years in China and Japan. It is frequently integrated with additional treatments like chemotherapy and radiation. Reishi mushrooms may enhance lymphocyte function, which assists in building antibodies, combating tumor cells, and controlling the immune system. It may also boost the survival rate of breast cancer patients. Certain research also recommends possible advantages for prostate cancer, as reishi mushrooms may control testosterone. Scientists have validated that the medicinal mushroom reishi includes pharmacologically active compounds that reinforce the immune system and support in protecting against age-induced immune decline. The soaring applications of reishi mushrooms for boosting the immune system are therefore fueling the growth of the Reishi Mushroom Extract Market during the forecast period 2022-2027.
Surging Innovations In Reishi Mushroom Are Expected To Boost The Demand Of Reishi Mushroom Extract Market:
Apart from boosting the immune system, soaring innovations involving reishi mushrooms are underway. In November 2021, Hermes declared that mycelium, the substance that mushrooms develop from, which normally is present unobserved, underground, in enormous threadlike webs, would be the principal component of its most recent bag, being introduced this winter. In the pursuit of sustainable and ethical materials, possible options to viscose, cotton, and animal leathers have ranged from algae and cacti to banana leaves and pineapples. Mushrooms also have emerged successful in these trials and have been found to make an excellent vegan alternative to animal leather. Among the beginner firms pronouncing“the future of fashion is fungi” is California’s MycoWorks. Its patented Fine Mycelium, trademarked as Sylvania, will be utilized for the novel Hermes bags. Consequent to three years of testing with reishi mushrooms and mycelium, on April 22 this year (Earth Day, befittingly), MycoWorks turned out its earliest sheets of amber-hued, authentically leather-like Sylvania. These kinds of surging innovations in Reishi Mushroom are driving the growth of the Reishi Mushroom Extract Market during the forecast period 2022-2027.
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Reishi Mushroom Extract Market Challenges
Existence Of Reishi Mushroom Alternatives Is Hampering The Growth Of The Reishi Mushroom Extract Market:
Reishi mushrooms are not recognized for their flavor owing to being bitter and chewy to a large extent. Reishi mushrooms, therefore, are seldom present in dishes. When they do feature in a dish, it is normally as a finely-grained embellishment scattered over the top. Rather, the majority of people utilize reishi products like supplements, powders, extracts, tinctures, and teas to acquire their nutritional advantages without essentially getting the flavor. Certain substitutes for reishi mushrooms that also offer similar nutritional advantages are inclusive of Golden milk, Rooibos tea, and Golgi berries. The existence of these alternatives to reishi mushrooms is hampering the growth of the Reishi Mushroom Extract Market.
Reishi Mushroom Extract Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D Activities are key strategies adopted by players in the Reishi Mushroom Extract Market. Key companies of this market are:
Bio Botanica, Inc.
Bristol Botanicals Limited
Ron Teeguarden Enterprises, Inc.
Nammex
DXN
Hokkaido Reishi
Fujian Xianzhilou Biological Science & Technology Co., Ltd.
Alphay International, Inc.
Qingdao Dacon Trading Co Ltd.
Xi’an Greena Biotech Co., Ltd.
Recent Developments
In November 2021, So Good So You introduced its earliest flavored juice formulation mechanized by adaptogenic mushrooms. The novel product is termed Immunity Blueberry Clementine and involves 300mg of organic shiitake, maitake, and reishi mushrooms. This variation is the most novel inclusion in the brand’s ‘Immunity’ line of 50ml juice shots.
In October 2021, it was reported that consequent to three years of research and development, Nammex accomplished a breakthrough: Approximately 80 tons of fresh Trametes Versicolor, typically recognized as turkey tail, have been prepared for commercial purposes this year. With that, Nammex (https://www.nammex.com/) is the earliest and only company across the globe to harvest turkey tail on a commercial basis. Nammex averts problems related to wildcrafting by cultivating turkey tail on an enriched sawdust substrate in an optimal development environment.
In March 2021, Gaia Herbs declared the introduction of its novel line of six mushroom capsule additives that back whole-body health and keep up wellness: Respiratory Mushroom Blend, Immune Mushroom Blend, Reishi Mushroom, Lion’s Mane Mushroom, Cordyceps Mushroom, and Turkey Tail Mushroom. These products are planned to support keeping up the lung, immune, heart, brain, and neurological health; provide energy and stamina backing; stress backing; and backing for healthy liver function, respectively. All six assortments are presently accessible on GaiaHerbs.com and will arise across organic and health food stores nationally commencing in March.
Key Takeaways
Geographically, Asia-Pacific Reishi Mushroom Extract Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the soaring production of Reishi Mushrooms which can promote the immune system in China in the Asia-Pacific region.
Reishi Mushroom Extract Market growth is being driven by the surging inclusion of reishi mushrooms into health additives owing to the use of reishi mushroom extracts as a functional constituent in the healthcare industry and its ability to advance the immune system. However, intermittent allergy consequent to the intake of reishi mushrooms is one of the major factors hampering the growth of the Reishi Mushroom Extract Market.
Reishi Mushroom Extract Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Reishi Mushroom Extract Market report.
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