Covid-19 Analysis On Medicinal Mushroom Extract Market | Industry Size, Overview and Forecast to 2023
Market Insight
Covid-19 Analysis On Medicinal Mushroom Extract Market is used for its health-promoting properties. CHAGA, Cordyceps, REISHI, Turkey tail, and Shiitake are some of the commonly known medicinal mushrooms which help to regulate the immune system to fight off cardiovascular diseases and the cancer cells, control cholesterol, and improve lung functions. Owing to their high nutrient content and the ability to heal various diseases, these extracts are extensively used in dietary supplements and functional foods.
Owing to their various health-promoting benefits, medicinal mushroom extracts are witnessing increasing applications in the pharmaceuticals industry over the last few years. Augmented demand from the burgeoning medicines industry defines the growth landscape of the Medicinal Mushroom Extract market globally, escalating it to the further heights. Increasing awareness towards the benefits these medicinal mushrooms offer, fuel – up the demand for its extracts extract from various industries. Augmenting demand for functional foods along with the growing health-conscious populace fosters the market growth. On the hand, lack of effective production skills is creating a gap between demand and supply of the mushrooms in the market, eventually, obstructing the market growth. However, ongoing R&D activities backed with the continuous funding are expected to boost the growth of the market by increasing the yield substantially and by introducing new applications of medicinal mushroom extract.
Different medicinal mushrooms demonstrate different health functions including anticancer, antioxidants, immune modulator, and hepatic-protective, and others. For instance; rich in flavor and texture, Shiitake mushrooms aid in weight loss, help improve energy levels and brain function, reduce inflammation, and support the cardiovascular health.
Major Key Players
Characterized by the presence of some well-established and small players, the Global Covid-19 Analysis On Medicinal Mushroom Extract Market appears to be highly competitive and fragmented. Well established players increasingly seek market expansion incorporating various strategic mergers, acquisitions, innovation, increasing investments in research and development. The market is expected to witness the intensifying competition due to the expected introduction of new application areas of the extract. North American Medicinal Mushroom Extracts (NAMES Canada), New Roots Herbal Inc. (Canada), Nutra Green Biotechnology Co (US), Amax NutraSource, Inc. (US), Nyishar (UK), Real Mushrooms (Canada) and Oriveda BV (The Netherlands)
are some of the players driving the Global Medicinal Mushroom Extract Market and are profiled in MRFR Analysis.
Regional Analysis
The Asia Pacific market is forecasted to retain its dominance throughout the review period followed by North America. Presence of various AGRO-climatic zones coupled with the favorable weather conditions are to drive the market growth in the region, ensuring the extensive yield in the upcoming years.
Owing to the increasing production of mushrooms in China, Japan and Korea, these countries witness higher growth in the market which contributes to the market growth substantially. China accounts for the major contributor of the market growth in terms of both production and consumption of medicinal mushrooms extract followed by Japan.
While, the second-largest market for Medicinal Mushroom, North America market is growing due to the presence the largest consumers of the medicinal mushroom extract such as the US and Canada.
Also, the presence of increasing health-conscious populace and their inclination towards the functional food drive the market growth in the regions such as North America and Europe.
Growing markets in some of the European countries such as Italy, Spain, Poland, and the Netherlands drive the growth of the European medicinal mushroom extract market.
In the RoW market, Latin America is gaining a moderate growth due to the increasing demand for food stabilizers.
Owing to the high nutritional and medicinal value of this extract, the Middle East market is expected to account for a moderate growth over the forecast period.
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Market Segments
Global Covid-19 Analysis On Medicinal Mushroom Extract Market can be segmented into four key dynamics for the convenience of the report and enhanced understanding;
By Types: Comprises Chaga, Cordyceps, Reishi, Turkey Tail, and Shiitake among others.
By Forms: Capsules, Liquid, and Powder among others.
By Functions: Antioxidant, Immune Enhancer, Anti-Cancer, and Skin Care among others.
By Region: North America, Europe, APAC and Rest-of-the-World (RoW).
Shiitake mushroom accounts for the fastest growing segment followed by Reishi.
By forms, the capsules segment is leading the market whereas, the liquid and powder segments are expected to witness considerable growth over the forecast period owing to its extensive uses in the pharmaceutical industry.
Anti-oxidant and immune enhancer segments are expected to witness substantial growth over the forecast period. However, the skin care agent segment is likely to witness moderate growth during the forecast period.
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