BURLINGAME, Calif., July 22,
2024 /PRNewswire/ -- The global Medicinal
Mushroom Market is projected to grow from USD 34.22 billion in 2024 to USD 59.41 billion by 2031, with a compound annual
growth rate (CAGR) of 8.2% from 2024 to 2031, as per a recent
report by Coherent Market Insights. Increasing demand for
functional foods and supplements that promote health and wellness.
Medicinal mushrooms are gaining popularity due to their
antioxidant, antibacterial, and immune-boosting properties. Many
people are incorporating medicinal mushrooms into their diets to
support daily wellness and address age-related health issues like
heart disease and diabetes. As preventive healthcare becomes more
important globally, more consumers are turning to natural products
like medicinal mushrooms for their perceived health benefits.
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Market Dynamics:
The global medicinal mushroom market is primarily driven by the
growing awareness about various health benefits of medicinal
mushrooms. Mushrooms are a good source of various nutrients such as
proteins, vitamins, minerals, and fibers. They also contain
medicinal compounds that help support immune function and metabolic
health. Increasing consumer preference for healthy and nutritious
food products is further fueling the demand for medicinal mushrooms
in various application sectors such as food & beverages,
pharmaceuticals, and personal care products. Rising focus on
preventive healthcare and alternative medicine is another key
factor boosting market growth.
Global Medicinal Mushroom Market Report Coverage
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$34.22
billion
|
Estimated Value by
2031
|
$59.41
billion
|
Growth
Rate
|
Poised to grow at a
CAGR of 8.2%
|
Historical
Data
|
2019–2023
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Product Type, By
Application, By Distribution Channel
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Growth
Drivers
|
• Health beneficial
properties of medicinal mushrooms
• Shift to preventative
health and wellness-oriented lifestyles
|
Restraints &
Challenges
|
• High Costs
• Lack of scientific
evidence and natural medicine
|
Market Trends:
Adaptogenic Mushrooms: Adaptogenic mushrooms such as reishi,
cordyceps, and chaga are gaining immense popularity owing to their
ability to help the body adapt to stresses. The growth in demand
for adaptogenic mushrooms is expected to create lucrative
opportunities for market players over the forecast period.
Advancements in Cultivation Techniques: Leading players in the
medicinal mushroom market are increasingly focusing on developing
advanced indoor mushroom cultivation technologies to ensure high
yields and consistent supply of mushrooms. For instance, companies
are utilizing technologies such as artificial intelligence, IoT,
and hydroponics to optimize growing conditions and increase
productivity. Such advancements are anticipated to boost the
overall market expansion during the forecast period.
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Reishi mushrooms account for the largest share of the global
medicinal mushroom market, valued at around $12 billion in 2024. Also known as lingzhi
mushroom, reishi is one of the most widely studied medicinal
mushrooms for its numerous health benefits. It is known to boost
immunity, fight various cancers, lower inflammation, regulate blood
sugar levels, reduce stress and anxiety, and promote heart health.
The antioxidant and anti-inflammatory properties of reishi help
promote overall well-being. The growing awareness about the
medicinal properties of reishi is driving its increasing demand
from the health-conscious population.
Cordyceps mushrooms hold around 15% of the total medicinal
mushroom market share valued at $5.1
billion in 2024. Native to China, cordyceps are known for their ability
to enhance athletic performance, boost energy levels, support lung
health, and improve sexual functions. Several clinical studies have
proven the benefits of cordyceps in increasing oxygen uptake,
physical strength and endurance. The increasing popularity of
nutraceuticals and functional foods is fueling the demand for
cordyceps extracts in dietary supplements, herbal teas and elixirs.
Sports nutrition and anti-aging markets offer tremendous potential
for cordyceps mushroom products in the coming years.
Key Market Takeaways:
The global medicinal mushroom market is anticipated to witness a
CAGR of 8.2% during the forecast period 2024-2031, owing to the
growing consumer focus on preventive healthcare and immunity
boosting foods.
On the basis of product type, the reishi segment is expected to
hold a dominant position, accounting for over 30% of the market
share due to its wide range of medicinal properties.
On the application side, the immune system segment dominates
with over 40% share on the back of rising health consciousness. By
distribution channel, the pharmacies segment holds a major share
due to higher consumer trust for medicinal products sold through
pharmacies.
On the basis of region, North
America is expected to hold a dominant position over the
forecast period, due to rising medicinal mushroom consumption in
dietary supplements, functional foods and beverages.
Key players operating in the medicinal mushroom market include
Host Defense Mushroom, Sin Potion, Four Sigmatic, Om Mushroom, Real
Mushroom, MycoMedicinals, North American Medicinal Mushrooms,
Golden Eagle Herbs, Rainforest Herbs, FreshCap Mushrooms, Oriveda,
Dr.Stamets' PerfectSpore, Fungi Perfecti. These players are
involved in new product launches, collaborations and expanding
distribution channels to strengthen their market position.
Recent Developments:
In October 2023, North America
Reishi Ltd. lunched two new mushroom ingredients: ErgoGold and
mushroom-derived vitamin D.
In September 2022, Ethical
Naturals, collaborated with Nammex to create Mushroom-Plus, a new
range of organic mushroom extract designed to address particular
health conditions.
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Detailed Segmentation:
By Product Type:
-
- Reishi
- Cordyceps
- Lion's Mane
- Turkey Tail
- Shiitake
- Chaga
- Others
By Application:
-
- Immune Support
- Anti-Cancer
- Cognitive Support
- Others (Antioxidant, etc.)
By Distribution Channel:
-
- Pharmacies
- Retail Stores
- E-commerce
- Others
By Region:
North America:
Latin America:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe:
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East:
- GCC Countries
- Israel
- Rest of Middle East
Africa:
- South Africa
- North Africa
- Central Africa
About Us:
Coherent Market Insights is a global market intelligence and
consulting organization that provides syndicated research reports,
customized research reports, and consulting services. We are known
for our actionable insights and authentic reports in various
domains including aerospace and defense, agriculture, food and
beverages, automotive, chemicals and materials, and virtually all
domains and an exhaustive list of sub-domains under the sun. We
create value for clients through our highly reliable and accurate
reports. We are also committed in playing a leading role in
offering insights in various sectors post-COVID-19 and continue to
deliver measurable, sustainable results for our clients.
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