Global Black Fungus Extract Market Report and Forecast 2024-2032

Global Black Fungus Extract Market Outlook

The global black fungus extract market witnessed a healthy growth in the historical period of 2018-2023. The market is expected to grow at a CAGR of 7.2% in the forecast period of 2024-2032.

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Extensive Application from the Pharmaceuticals and Food Industry is Aiding the Black Fungus Extract Industry Growth

The market for black fungus extract is driven by its extensive application and demand from the pharmaceuticals and food industry. The product has wide scope in medicine, dietary supplements, and food additive, among others. The market is further aided by the growing demand for nutritional products and dietary supplements from alternative sources such as fungi or moulds. Moreover, the medicinal properties of black fungus extract like anti-spasmodic, digestive, anti-bacterial, and carminative of black fungus extract are propelling the demand for the food additive industry, and consequently for the black fungus extract industry. The market for black fungus extract is finding impetus due to the health benefits the product offers, like clotting, bone development, and maintenance of blood cholesterol level. The market is expected to thrive over the forecast period.

Black Fungus Extract: Market Segmentation

Black fungus extract refers to the edible fungus, which is famous for its wood ear, cloud ear, or jelly mushroom-like appearance. It is extensively used in Chinese cooking and enriches the food with its high nutritional value, along with offering a great meat substitute for the vegetarians.

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On the basis of form, the market is divided into:

• Liquid
• Powder
• Dried
• Capsule

Based on distribution channel, the industry can be segmented into:

• On Trade
• Off Trade

By application, the industry is segmented into:

• Food additive
• Medicine
• Dietary Supplements
• Others

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

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Rising Demand from the Dietary Supplements Industry to Aid the Global Market Growth of Black Fungus Extract

The market for black fungus extract is being driven by the high vitamins and minerals contents that find healthy application in the dietary supplements industry. The market is further being propelled by the rising population and awareness associated with the health benefits of the product as it is widely used as food additives. The high calcium-rich black fungus extract that is used in the concentrated form helps to control the level of blood cholesterol in the body and is expected to witness a rising demand over the forecast period.

Key Industry Players in the Global Black Fungus Extract Market

The report gives a detailed analysis of the following key players in the global black fungus extract market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Xi'an Pincredit Bio-tech Co.,Ltd,
• Nutra Green Biotechnology Co. Ltd
• Xian Yuensun Biological Technology Co. Ltd.
• N&R Industries, Inc.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report