Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Covid-19 pandemic has affected both positively and negatively on every sector in the market including medicinal fungi market. The positive impact on the medicinal fungi market is as there was increased demand for medicinal fungi owing to their health benefits. The pandemic led to an increase in demand for medicinal fungi supplements which helped market to grow during pandemic. During, the period of pandemic consumer food preference is changed toward vegan and medicinal fungi is also known as vegan food which enhance the immunity system of humans is a major factor increased demand for medicinal fungi in this period. Increased awareness among consumer that COVID-19 directly affects the immune system and medicinal fungi is best source which can fight against the virus and help to rebuild the immune system due to this benefits demand is increased for supplements made of medicinal fungi is increased. This capabilities of medicinal fungi are attracting pharmaceutical industry for the production of medicines.
Globally increasing awareness among consumer preference for healthy food products are increasing demand for the food and beverages with medicinal fungi. It also helps in increasing antioxidant activity and boost the immune system. Medicinal fungi contain high nutrients like antioxidants, proteins, amino acids and vitamins owing to these nutrients content consumer are preferring more medicinal fungi products. Also, Medicinal fungi are best for curing diseases like allergies, asthma, and it help to enhance the functioning of the nervous system. In addition, medicinal fungi are rich in protein, fiber, vitamins such as riboflavin, vitamin B2, niacin, folate and traces of vitamins B1, B12, C and E. further, increasing use of medicinal fungi is cosmetic industry is another factor driving the growth of medicinal fungi market. Furthermore, increasing research and development activities owing to medicinal fungi health benefits boost the opportunity for medicinal fungi market. Market is fooled with health magazines, influencer and books which provide information about health benefits of medicinal fungi is another major factor fuelling the market growth across the world.
Growing population for adopting vegan diet due to its health benefit is best opportunity for the manufacturer to develop innovative products. Rising awareness among consumer for healthy diet plan and growing demand for more meat substitute products are some factors will support the global medicinal fungi market. Collaboration with various herbal supplements distributing chain and education marketing is may catalyse the growth of the medicinal fungi market. The cosmetic products can be promoted through various beauty supplement products. There is great opportunity medicinal fungi market due to increasing consumption of dietary supplements and nutraceutical products by consumers to gain immunity and to stay healthy.
The major restraint for the medicinal fungi market is large number of people are not aware of the health benefit of fungi. Moreover, the side effect caused by consuming medicinal fungi such as dryness of the throat and itchiness, diarrhea, headache is another major factor restrain the global medicinal fungi market.
The medicinal fungi’s bitter taste is major problem as manufacturers have to spend more money to mask its bitter taste. The medicinal fungi products are should be supported by scientific consensus as consumers are focused on scientific opinion. Moreover, the lack of manufacturing skills creates a gap between demand and supply of products also the low shelf life of the product is major challenge faced by manufacturer in medicinal fungi market.
The report provides in-depth analysis of global medicinal fungi market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for vegan food has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2028.
The global medicinal fungi market is segmented into type, form, end-use and geography.
Based on the type medicinal fungi market segmented into, chaga, reishi, cordyceps, enoki, turkey. The reishi fungi segment account the largest share in the medicinal fungi market. Increase in the demand for reishi fungi owing to rise in health consciousness among consumers. Growing product awareness and knowledge through promotion increase reishi fungi market growth. Furthermore, the application of reishi mushroom powder in cosmetics and personal care products as an ingredient has created demand for the market. The various brands are using reishi fungi as their main ingredients for cosmetic and personal care products is key factor driving reishi fungi market growth Reishi fungi is best ingredient for cosmetic product owing to its antioxidant, anti-aging, anti-wrinkle and moisturizing effects.
Based on the form of medicinal fungi market segmented into, dry form and liquid for medicinal fungi. The dry form medicinal fungi segment accounted largest share in the market. Powder form fungi is providing essential nutrients as same as its fresh product and it is easy to blend in any type of food product such as beverage and food product. The powdered form medicinal fungi used as a chief ingredient of cosmetic and personal care products this is due to its antioxidant, anti-aging, anti-wrinkle, skin whitening and moisturizing effects which make it ideal ingredient for cosmetic and personal care products.
On the basis of end-use medicinal fungi market segmented into, household, commercial and industrial. The industrial segment accounted largest share in the market. The medicinal fungi owing to its nutrients like antioxidants, proteins, amino acids and vitamins they are used in the pharmaceutical industry. They are beneficial for curing various diseases like allergies, asthma, and it help to enhance the functioning of the nervous system. The various properties of the medicinal fungi attracting manufacturers in the pharmaceutical industry for the production of medicines from natural ingredients.
On the basis of Geography, the medicinal fungi market is segmented into, North America, Asia-pacific, Europe, and the rest of the world. The Asia-pacific region segment commanded the largest share in the medicinal fungi market. Increased awareness among consumer for vegan food and beverage in this region driving the growth of medicinal fungi market growth. Moreover, increasing use of medicinal fungi in cosmetic industry is another factor driving the growth of medicinal fungi market in Asia-pacific region. China commanded largest share in the Asia-pacific region as it is a largest producer of reishi fungi and it is widely used in traditional Chinese medicine. With raising income level of urban and rural Chinese consumers with increasing awareness of healthy products among consumer boosting the market growth in this region.
Many companies are investing in the production of various type of product from medicinal fungi. Companies are focusing on the manufacturing and distribution of medicinal fungi products by enhancing their product portfolios related to medicinal fungi products. The market has major competitive analysis based on the quality and cost of the product also the new innovative products. The players operating in the global medicinal fungi market operating different strategies to cater consumer demand.
The key players studied in the market are Nutra Green Biotechnology co, New Roots Herbal Inc., Amax Nutrasource, Inc, Nyishar, Real Mushrooms, Oriveda Bv, Bonduelle, Agro Dutch industries, Modern Mushroom Frams, Banken Champignons, Delftree mushroom FARMS, Hughes Mushrooms, MONTEREY Mushrooms and among others.
Medicinal fungi are used for their medicinal benefits and it consists vitamins Vitamin B, Vitamin D, amino acids, calcium, potassium and fibre are abundant in medicinal fungi. The growing awareness of the health benefit of medicinal fungi serves as the one of the main drivers of the growth of the global market. The increased use of these fungi in the treatment of seasonal allergies, asthma and inflammation help to grow the market. Based on the type medicinal fungi market segmented into, chaga, reishi, cordyceps, enoki, turkey. The reishi fungi segment account the largest share in the medicinal fungi market. Based on the form of medicinal fungi market segmented into, dry form and liquid for medicinal fungi. The dry form medicinal fungi segment accounted largest share in the market. On the basis of end-use medicinal fungi market segmented into, household, commercial and industrial. The industrial segment accounted largest share in the market. The North-America region segment commanded the largest share in the medicinal fungi market.
Which region is accounted for the largest share in the medicinal fungi market?
Ans: - North America accounted largest share in the medicinal fungi market due to increase awareness for medical fungi benefits.
Who are the key players in the medicinal fungi market?
Ans: - Nutra Green Biotechnology co, New Roots Herbal Inc., Amax Nutrasource, Inc, Nyishar, Real Mushrooms, Oriveda Bv, Bonduelle, Agro Dutch industries, Modern Mushroom Frams, Banken Champignons, Delftree mushroom FARMS, Hughes Mushrooms, MONTEREY Mushrooms and among others
What is major driver for medicinal fungi market?
Ans: - Growing awareness about the medicinal properties of mushrooms is the major driver for the medicinal mushrooms market.
