Market Outlook for Medicinal Mushrooms Market
Medicinal mushrooms are mushrooms which are cultivated for their high nutrient profile of proteins, vitamins, antioxidants and amino acids. Medicinal mushrooms are native to Asia and cultivated on a large scale in this region. The medicinal mushrooms are known for their cure for seasonal allergies, common cold, inflammations, alleviating asthma and bronchitis and boost the functioning of the nervous system. Due to the growing consumer interest for health food products, especially in North America, distributors are expanding outlets which offer a wide array of functional beverages incorporated with medicinal mushrooms. In 2015, Four Sigmatic Foods, which is a Finnish company specializing in medicinal mushrooms based beverages expanded in the U.S., due to the drastic consumer traction gained within a few years in this region. Promotion and marketing of these products have worked miracles to boost the growth of the medicinal mushroom market in this region. The consumers’ purchasing patterns towards medicinal food reflect that they are highly inclined to buy new products that offer plentiful health benefits. Hence, the market is also flooded with health magazines and books which offer information about the health benefits of medicinal mushrooms and has raised consumer awareness.
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Reasons for Covering this Title
The medicinal mushroom market is in the high growth phase of the product lifecycle and expected to witness a remarkable upsurge over the forecast period. Other converging trends that are supporting the growth of the medicinal mushrooms market are the functional food trend, ancient-eating or authentic foods of ancestor’s, eastern herbal medicine and gut-healthy products. Medicinal mushrooms happen to meet at the nexus of all these trends. However, all the health claims made in the name of medicinal mushrooms need to be supported by scientific consensus as the next thing consumers focus on, after knowing the health benefits is the medical communities’ opinion. The most glaring hurdles the medicinal mushroom market faces, is the taste. Medicinal mushrooms’ industrial end users may have to spend extra costs on using a large amount of masking agents to mask their bitter and mud like tastes. As mushrooms are the reflection of the environment they are grown in, sourcing of medicinal mushrooms may become difficult. Also, growers find it extremely difficult to maintain transparency about their products.
Global Medicinal Mushrooms Market: Segmentation
The medicinal mushrooms market is segmented on the basis of product type, product form and end use.
On the basis of product type, the medicinal mushrooms market is segmented as-
- Reishi mushroom
- Chaga mushroom
- Lion’s mane mushrooms
The others category typically includes other medicinal mushrooms with possess high medicinal value like the caterpillar mushroom
On the basis of product form, the medicinal mushrooms market is segmented as-
On the basis of end use, the medicinal mushrooms market is segmented as-
- Dietary supplements
- Functional Food & Beverages
- Personal Care & Cosmetics
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Global Medicinal Mushrooms Market: Key Players
Some of the key players operating in the global medicinal mushrooms market are Banken Champignons B.V., Far West Fungi, Hokkaido Reishi Co., Ltd, Swadeshi Mushroom Spawn, Mushroom Table, DXN, Nikkei Marketing Limited, M/S.MAHAGRO INDIA, Chaga Mountain, Inc., Asia Pacific Farm Enterprises, Concord Farms and SSD Mushrooms amongst others.