The Global Medicinal Mushroom Market is driven by growing...

The Global Medicinal Mushroom Market is driven by growing awareness regarding health benefits

Posted 2024-03-29 11:34:42

The global medicinal mushroom market consists of various edible and medicinal mushrooms that exhibit several health benefits. Mushrooms such as shiitake, reishi, chaga, lion's mane, and cordyceps are considered medicinal due to their immune-boosting, anti-inflammatory, and antioxidant properties. They are rich in polysaccharides, vitamins, minerals, and amino acids. Medicinal mushrooms are used to treat cancer, heart disease, diabetes, obesity, Alzheimer's, fatigue, and other chronic conditions. The dried or powdered forms of these mushrooms are used in supplements, extracts, tinctures, and teas. They are also used ingredients in food & beverages as well as in personal care applications due to their anti-aging benefits. The growing awareness regarding various health benefits of mushrooms is driving increasing consumer demand.

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, and Aloha Medicinals. These players are engaged in extensive research & development to expand their product portfolios and launching new medicinal mushroom varieties to cater to rising consumer demand.

The growing awareness about health benefits along with rising disposable income levels is driving increasing demand for medicinal mushrooms globally. Mushrooms are considered a highly nutritious superfood and their consumption is surging significantly among health-conscious consumers.

Market Drivers
The increasing prevalence of chronic lifestyle diseases and growing preference for natural remedies without side effects are major drivers propelling the global medicinal mushroom market. According to WHO, chronic diseases account for over 60% of global deaths annually. The anti-inflammatory and disease preventing qualities of medicinal mushrooms are prompting more patients and healthcare providers to include them in treatment regimens. Additionally, the boosting effect of mushrooms on immunity has become especially important amid the COVID-19 pandemic, further accentuating market growth.

Fastest Growing Regional Market for the Global Medicinal Mushroom Industry

The Asia Pacific region excluding Japan (APEJ) market for medicinal mushrooms is expected to be the fastest growing globally through the forecast period driven by population expansion, rising disposable incomes, and growing health awareness in developing countries like India and Indonesia. The easy availability of suitable climatic conditions and cultivation expertise makes this a strategic growth market. Industry players are keenly focusing on partnerships and investments to expand their presence, production and retail networks in the high potential APEJ region where demand for traditional medicines using mushrooms is experiencing a major revival. The comparatively lower sourcing and manufacturing costs also favor industry profitability in these countries.

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