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Global Medicinal Mushroom Market is Anticipated to Witness High Growth Owing to its Growing Health Benefits

Global Medicinal Mushroom Market is Anticipated to Witness High Growth Owing to its Growing Health Benefits

The global medicinal mushroom market is experiencing high growth owing to growing awareness among consumers regarding the health benefits associated with medicinal mushrooms. Medicinal mushrooms contain polysaccharides, antioxidants, vitamins and other active compounds that have anti-viral, anti-bacterial and immune-boosting properties. Common varieties used for medicinal purposes include turkey tail, reishi, shiitake, cordyceps, lion's mane, chaga and maitake. These mushrooms are increasingly being used to treat conditions like diabetes, high cholesterol, inflammation, cancers and fatigue. The growing preference for organic and plant-based health products has also boosted demand for medicinal mushrooms.

The Global Medicinal Mushroom Market Demand is estimated to be valued at US$ 34.22 BN in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Global Medicinal Mushroom market are Host Defense Mushrooms, Sun Potion, Four Sigmatic, Om Mushrooms, Real Mushrooms, MycoMedicinals, North American Medicinal Mushrooms (NAMM), Golden Eagle Herbs, Rainforest Herbs, FreshCap Mushrooms, Oriveda, Dr. Stamets' PerfectSpore, Fungi Perfecti, Redd Remedies, Vital Plankton, Aloha Medicinals. These players are focusing on expansion in new regions as well as launch of novel product formulations.

The increasing consumer spending on health and wellness products presents lucrative growth opportunities for players in the medicinal mushroom market. The market sees new product launches containing medicinal mushrooms for anti-aging, immunity boosting and digestive health applications.

North America currently dominates the global medicinal mushroom market. However, Asia Pacific is emerging as a major producer and consumer of medicinal mushrooms. Major companies are focusing on partnerships with regional players and setting up cultivation and processing facilities in Asia Pacific and Europe to tap the high growth potential in these regions.

Market Drivers

Growing health awareness and preference for organic and plant-based products among consumers is a major market driver. Wide ranging health benefits of medicinal mushrooms for immunity, inflammation and nutrition is propelling the market growth. Easy availability through e-commerce and retail channels is further supporting the increased adoption of medicinal mushrooms.

Market Restrains

High price of medicinal mushroom supplements compared to conventional medicines can restrain the market growth. Fake and low quality products owing to lack of standardization also poses challenges. Difficulties related to mass cultivation and processing of some rare varieties further restricts the market from reaching its full potential.

Segment Analysis

The global medicinal mushroom market is dominated by the shiitake and reishi sub-segments. Shiitake mushrooms accounted for more than 30% share of the overall market in 2024 owing to their numerous health benefits. They are a rich source of nutrients such as vitamin D, riboflavin, niacin and pantothenic acid. Moreover, shiitake mushrooms help boost immunity and lower cholesterol levels. The reishi sub-segment is the second largest segment as these mushrooms contain powerful antioxidants and anti-inflammatory compounds. They have traditionally been used in Asia to promote general well-being and longevity.

Global Analysis

North America presently dominates the global medicinal mushroom market and accounted for around 35% share in 2024. This can be attributed to rising health consciousness and growing awareness about the medicinal properties of mushrooms in the region. Moreover, the nutraceutical industry in the US and Canada is highly developed. However, the Asia Pacific region is projected to grow at the fastest pace during the forecast period. This can be credited to the deep rooted traditions of using mushrooms in Chinese and Japanese medicines. Countries like China, Japan and South Korea have emerged as major producers and consumers of medicinal mushrooms in recent years.

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