Global Medicinal Mushrooms Market to Grow at a CAGR of 8.8% During 2024-2032, Aided by the Increasing Demand for Solutions of Growing Global Health Problems

The global medicinal mushrooms industry is being driven by the growing awareness regarding the benefits of medicinal mushrooms along with the increasing research and development activities in the industry. The worldwide acceptance of veganism is expected to propel the growth of the market in the coming years, owing to the numerous health benefits associated with veganism. The globally increasing readership of health magazines has helped in raising awareness about medicinal mushrooms and their benefits. The medicinal mushroom market finds itself in the phase of high growth of the product lifecycle and is anticipated to enjoy a tremendous surge in demand over the next few years. Also, developing regions like the Asia Pacific presents the market with great growth opportunities. This can be attributed to an observed trend of the region’s retail stores having rare foods and beverages on their shelves.

Recently, some key industrial developments have showcased the potential to be key drivers of the market in the near future. A group of researchers in the United States conducted trials in November 2021 to see if botanical remedies such as medicinal mushrooms and Chinese herbs could help cure acute COVID-19 infections. Mushrooms were chosen for their long history of use and current evidence of immune-boosting and antiviral properties. "RCT of Mushroom Based Natural Product to Enhance Immune Response to COVID-19 Vaccination," MACH-19's (Mushrooms and Chinese Herbs for Covid-19) third ongoing trial, examines whether the same medicinal mushrooms, given in capsules at the time of initial COVID-19 vaccination, can increase antibodies and other measures of the immune response. It started in June 2021 and is expected to be finished in June 2022.

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Market Analysis by Type, Form, End-Use, and Region:

• The market on the basis of type can be divided Into Reishi, Lion’s Mane, Chaga, Turkey Tail, Shiitake, and Cordyceps, among others.

• Based on form, the industry can be divided into powder, whole, and slice, among others.

• By end-use, the market is divided into antioxidant, immune enhancer, anti-cancer, and skin care, among others.

• The regional markets for medicinal mushrooms include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

Key Findings of the Report:

• The need for solutions to handle global health problems is a key driver of the market.

• The use of medicinal mushrooms in cosmetics production is a major factor causing the growth of the market.

• Worldwide adoption of veganism is bound to propel the industry growth.

• The Asia Pacific is expected to emerge as a dominant region for the market owing to the growing popularity and cultivation of medicinal mushrooms in the region.

Key Offerings of the Report:

• The EMR report gives an overview of the global medicinal mushrooms industry for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, forms, end-uses, and regions of medicinal mushrooms.

• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.

• The market report also analyses the trade data by covering the major importing and exporting countries.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global medicinal mushrooms market are Chaga Mountain, Inc., Hokkaido Reishi Co. Ltd., Far West Fungi, DXN Marketing Sdn Bhd, and Swadeshi Mushroom Spawn, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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