The Reishi Mushroom Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Reishi Mushroom Global Market Report 2024, The reishi mushroom market size has grown strongly in recent years. It will grow from $4.27 billion in 2023 to $4.65 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to growing interest in traditional medicine, increased awareness of health and wellness, research and publications, expansion of dietary supplement industry, culinary uses and adaptation.
The reishi mushroom market size is expected to see strong growth in the next few years. It will grow to $6.39 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to continued interest in holistic health, rising demand for functional foods, exploration of novel applications, global expansion of herbal medicine awareness, research and clinical studies. Major trends in the forecast period include market expansion in nutraceuticals industry, introduction of reishi mushroom powder, awareness of reishi’s anti-inflammatory properties, innovations in extraction techniques, collaborations for product development.
The surge in demand for functional foods and dietary supplements is expected to boost the growth of the reishi mushroom market going forward. Functional foods are dietary components that, in addition to supplying nutrients and energy, advantageously affect one or more specific bodily processes, either by boosting a particular physiological response or by lowering the risk of disease. Dietary supplements are any vitamins, minerals, herbal products, or other ingestible preparations that are added to the diet to supplement it and benefit health. Reishi mushrooms are used as a dietary supplement which is used in medicinal products to help reduce stress, boost liver and heart health, promote longevity, and enhance the immune system, which is expected to drive the growth of the market. For instance, in November 2021, according to a survey conducted by Kerry Group plc, an Ireland-based food company, four out of ten respondents (44%) reported increasing their purchases of dietary supplements since the pandemic’s start, while 42% reported increasing their purchases of functional or fortified foods and beverages. The company polled 13,000 people in 16 countries with the intention of giving manufacturers information about how COVID-19 has affected consumers’ purchasing habits. Similarly, in October 2021, according to the Consumer Survey on Dietary Supplements by the Council for Responsible Nutrition (CRN), a US-based trade association and lobbying group representing ingredient suppliers and manufacturers in the dietary supplement industry, the number of Americans consuming dietary supplements grew from 73% in 2020 to 80% in 2021. Therefore, the surge in demand for functional foods and dietary supplements is driving the growth of the reishi mushroom market.
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The reishi mushrooms market covered in this report is segmented –
1) By Type: Cultivated, Wild
2) By Species: Ganoderma Lucidum, Ganoderma Sinensis, Ganoderma Tsugae, Other Species
3) By Form: Liquid, Powder
4) By Nature: Organic, Conventional
5) By End User: Food And beverages, Pharmaceutical, Nutraceutical And Dietary Supplements, Cosmetics And Personal Care
Major companies operating in the reishi mushroom market are focusing on strategic partnerships to provide reliable services to customers. A strategic partnership is an arrangement between two or more companies or organizations that helps each other or works together to achieve their respective goals. For instance, in July 2022, Ethical Naturals Inc., a US-based industry leader in the supply of premium botanical and natural source ingredients, partnered with Nammex, a Canada-based company that specializes in mushroom ingredients, to launch New Mushroom-Plus Ingredient Line products such as MycoCalm, designed to support relaxation and containing organic red reishi and an L-theanine ingredient. MycoCalm’s reishi extract contains triterpenes and other naturally occurring reishi components, and it is standardized to 30% beta-D-glucans. MycoCalm is available in bulk powder or ready-encapsulated and bottled from ENI’s cGMP-certified production facility.
The reishi mushroom market report table of contents includes:
1. Executive Summary
2. Reishi Mushroom Market Characteristics
3. Reishi Mushroom Market Trends And Strategies
4. Reishi Mushroom Market – Macro Economic Scenario
5. Global Reishi Mushroom Market Size and Growth
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26. South America Reishi Mushroom Market
27. Brazil Reishi Mushroom Market
28. Middle East Reishi Mushroom Market
29. Africa Reishi Mushroom Market
30. Reishi Mushroom Market Competitive Landscape And Company Profiles
Top Major Players:
- Swanson Health Products
- Nutraceutical International Corporation
- Gano Excel
- Alphay International Inc
- Nature’s Way
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