The global medicinal mushroom market has witnessed constant demand during the last few years and is projected to reach 7,246,936 tons at a CAGR of 12.60% by 2023. Medicinal mushroom is an edible specialty mushroom which has various medicinal benefits associated with them. It is commonly used in the preparation of various cuisines of East Asia. High nutritional value, as well as the medicinal value associated with the medicinal mushroom, is increasing its application in pharmaceutical industry. Various immunological and anti-cancer properties of medicinal mushroom have attracted the interest of many pharmaceutical companies, which are viewing medicinal mushroom as a rich source of innovative biomedical molecules. Moreover, increasing popularity of medicinal mushroom in cosmetics is adding fuel to the growth of the medicinal mushroom market. High consumption of medicinal mushroom in Asia Pacific, mainly in China is influencing the market growth since last few years.
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Asia Pacific will dominate the medicinal mushroom market and is estimated to reach the market share of 2,889,743 tons in the year 2017. Also, production of medicinal mushroom from Asia Pacific is projected to witness a high growth rate of 13.48% during the given period owing to the increasing awareness and rise in the application of medicinal mushroom in various industries.
On the basis of type, shiitake mushroom is dominating the market and is anticipated to hold a lion’s share of 59.26%. Increasing awareness of high nutritional and medical benefits of shiitake mushroom including improved cardiovascular health, bone-building, improved digestion, healing chromosome damage caused by anti-cancer treatments and others is boosting the application of shiitake mushroom in various industries. However, the reishi segment is projected to be the fastest growing segment at a CAGR of 13.13% over the forecast period.
On the basis of the category, the fresh medicinal mushroom will dominate the market and is projected to hold a major share of approx. 48.62% in the global market. Fresh medicinal mushroom is widely used in the preparation of different cuisines for its rich and robust flavoring attribute which is driving the market of fresh medicinal mushroom. Asia Pacific is dominating the market in use of fresh medicinal mushroom followed by Europe. However, North America is the second largest growing country in the fresh medicinal mushroom market at a CAGR of 11.11% over the forecast period.
Based on the function, the antioxidant segment is dominating the market holding a leading share of 35.67%. As an antioxidant, it is gaining popularity in various industries such as pharmaceuticals and cosmetics. However, in food industry, it is gaining acceptance as an immune enhancer and growing in this segment at a CAGR of 12.86% over the forecast period
Some of the leading players in the global medicinal mushroom market are: Bonduelle SA (France), Monaghan Mushrooms (England), Agro Dutch Industries Ltd. (India), The Mushroom Company (U.S.), Modern Mushroom Farms (U.S.), Delftree Mushroom Company (U.S.), Banken Champignons (the Netherlands), Hughes Mushrooms (U.K), Scelta Mushrooms BV (the Netherlands), Weikfield (India)
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Medicinal mushroom manufacturers
Personal care products manufacturers
Retailers, wholesalers, and distributors
Traders, importers, and exporters
Global medicinal mushroom market is projected to reach 7,246,936 tons at a growth rate of 12.60%
Dried medicinal mushroom is witnessed to have the highest growth rate with CAGR of 14.04% over the forecast period 2017-2023
Shiitake mushroom is expected to grow at a CAGR of 13.81% in Asia Pacific followed by North America over the forecast period.
Medicinal mushroom is projected to witness highest growth rate as an immune enhancer in Asia Pacific followed by North America over the estimated period.