Medicinal Mushroom Extract Market Information: by Type (Chaga, Cordyceps, Reishi, Turkey Tail, Shiitake and others), by Form (Capsules, Liquid, Powder and others), by Function (Antioxidant, Immune Enhancer, Anti-Cancer, Skin Care and others) and Region Forecast till 2023
Some of the significant Medicinal Mushroom Extract Market Size vendors include Names (North American Medicinal Mushroom Extracts) (Canada), New Roots Herbal Inc. (Canada), Nutra Green Biotechnology Co (U.S.), Nyishar (U.K.), Real Mushrooms (Canada), Amax NutraSource, Inc. (U.S.), and Oriveda BV (The Netherlands).
Global Medicinal Mushroom Extract Market is anticipated to upscale at a steady CAGR of 6.3% during the forecast period of 20192023. Various factors responsible for such market ascension include the rising popularity of medicinal mushroom extract for its beneficial health attributes. Currently, the medicinal mushroom extract is highly used in supplements and functional foods. Increasing awareness towards medicinal mushrooms and ongoing research and development activities surrounding medicinal mushrooms are promoting potential growth to the global market. Furthermore, the growing demand for functional foods among the health-conscious population is likely to snowball the market in the foreseeable future. Even though many factors are contributing to the augmentation of the global medicinal mushroom extract market, some factors are restraining the market through the forecast period. Lack of effective production skills is creating a gap between the demand and supply, which is posing as a hindrance in the growth of the global medicinal mushroom extract market.
Regional Analysis: Global Medicinal Mushroom Extract Market is regionally segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). Among these, the APAC is projected to spearhead the global medicinal mushroom extract market. China, Japan, and Korea are anticipated to dominate the country-specific markets in the region owing to a rapid rise in the production and consumption of medicinal mushroom extract in the forthcoming years. Europe is assessed to grow at a significant rate owing to the increasing health consciousness among the population and a rising inclination towards functional food. Furthermore, in North America, the U.S. is expected to dictate the country-specific market in the region. Additionally, due to a high nutritional and medical attributes of medicinal mushroom extracts, the market is predicted to showcase moderate augmentation over the conjectured time period.
Segmentation Global Medicinal Mushroom Extract Market is studied for various segments which are based on type, form, function, and region. Based on type, the global medicinal mushroom extract market is segmented into turkey tail, shiitake, cordyceps, reishi, and chaga. Among these segments, the shiitake mushroom is the fastest growing mushroom, followed by reishi. The shiitake mushroom has a rich flavor and texture which acts as a cherry on the cake coupled with its high nutritional value. Shiitake mushroom enables weight loss, supports better cardiovascular health, fights cancer, improves energy levels, and brain function. Apart from that, it also helps in the reduction of inflammation and strengthens immunity. All these factors are contributing to the segment’s augmentation, enabling the shiitake mushroom segment to be the highest grosser over the forecast period.
Intended Audience Pharmaceutical industry Cosmetic industry Food industry Retailer, wholesaler, and distributor E-commerce Traders, importers, and exporters