Reishi Mushroom

Reishi mushrooms have high applications as dietary supplements & are also gaining recognition as key plant-based ingredients in cosmetics, personal care product

PORTLAND, OR, UNITES STATES, February 7, 2023 /EINPresswire.com/ -- Rise in application of reishi mushroom in healthcare products, dietary supplements, cosmetics & personal care products, as a result of growing health consciousness, are the key factors for reishi mushroom market trends.

The global reishi mushroom market was valued at $3,097.3 million in 2019, and is projected to reach $5,059.8 million by 2027, registering a CAGR of 8.1% from 2021 to 2027. The market is expected to exhibit an incremental revenue reishi mushroom market opportunity of $1.88 billion from 2021 to 2027.

There has been a trend and substantial growth in developing natural drugs to prevent and treat several immunological diseases over the last decades. The fruiting bodies of reishi mushroom species have gained popularity as dietary supplements in China, Japan, North America, and other regions of the world. Furthermore, it has been used as a functional food to prevent and treat immunological diseases, owing to its bioactive constituents that are regarded to provide anti-cancer, anti-inflammatory, anti-tumor, anti-oxidant, immunomodulatory, immunodeficiency, and anti-fungal properties. Moreover, the demand for reishi mushrooms as a key ingredient in several personal care products has also gained high traction. This is due to its excellent antioxidant, anti-aging, anti-wrinkle, skin whitening, and moisturizing properties. Consumers are increasingly inclined toward products manufactured using plant-based organic ingredients, instead of synthetically sourced. However, reishi mushrooms products are high priced, and this factor is expected to hinder the reishi mushroom market growth.

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Owing to the outspread of COVID-19, the reishi mushroom market has been largely impacted due to lack of availability of workers, which in turn affected the production capacity. Furthermore, due to closures of wholesale markets, producers had to solely rely on supermarkets and e-commerce traders to market the mushroom products. Hence, the market for reishi mushrooms was largely impacted during the pandemic. However, since it is regarded as a therapeutic product, the demand for reishi mushroom is anticipated to gain higher traction in the near future. This is due to increase in consumption of dietary supplements and nutraceutical products by consumers as a means to stay healthier and gain immunity.

However, the organic segment is anticipated to grow at the highest CAGR during the reishi mushroom market forecast period. Organic reishi mushrooms products are manufactured using all natural and non-GMO raw materials. Consumers have gradually become well-informed regarding the food they consume and also have knowledge and awareness about the ill effects of synthetic chemicals on their health owing to rise in health consciousness,. Hence, the organic segment is expected to garner a considerable growth rate during the forecast period.

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The key players operating in the reishi mushroom industry include Alphay International, Inc. (China), Bio Botanica, Inc. (U.S.), Bristol Botanicals Limited (UK), Ron Teeguarden Enterprises, Inc. (U.S.), DXN Holdings Bhd. (Malaysia), Shanghai Gubao Edible Mushroom Co., Ltd. (China), Xi'an Greena Biotech Co., Ltd (China), Fujian Xianzhilou Biological Technology Co., Ltd. (China), Hokkaido Reishi Co., Ltd. (Japan), and Nammex (North American Medicinal Mushroom Extracts).

Key findings of the study

By form, the powder segment was the highest contributor to the reishi mushroom market, with $1886.8 million in 2019, and is estimated to reach $3012.8 million by 2027, at a CAGR of 7.80% during the forecast period.
By end use, the pharmaceutical, nutraceutical and dietary supplements segment was the highest contributor to the reishi mushroom market size with $1312.8 million in 2019, and is estimated to reach $2051.5 million by 2027, at a CAGR of 7.50% during the forecast period.
By nature, the conventional segment was the highest contributor to the market, with $1894.2 million in 2019. However, the organic segment is anticipated to grow at the highest CAGR.
By region, Asia-Pacific was the most prominent market, in 2019; however, North America is expected to grow at a significant CAGR throughout the forecast period.

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