The new report by Expert Market Research titled, ‘Global Black Fungus Extract Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global black fungus extract market, assessing the market based on its segments like forms, applications, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
Forecast CAGR (2020-2025): 7.5%
The market for black fungus extract is primarily being driven by the product’s extensive applications and demand from the pharmaceuticals and food industries. The product finds its applications in medicines, dietary supplements, food, food additives, and sports nutrition, among others. The anti-spasmodic, digestive, anti-bacterial, and carminative properties of black fungus are propelling the demand for the product from the food and beverage industry and consequently aiding the growth of the black fungus extract market. The product has a number of health benefits, which is expected to bolster the market growth amidst the COVID-19 pandemic.
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Industry Definition and Major segments
Black fungus extract, also known as cloud ear fungus or tree ear fungus, refers to the edible fungus which has a wood ear, cloud ear, or jelly mushroom-like appearance. It is a popular ingredient in Chinese cuisine. It enriched the food with a high nutritional value, along with offering a great meat substitute for vegetarians. It is extensively utilised in the pharmaceutical and food and beverage industries.
By form, the market is divided into:
On the basis of distribution channel, the industry is bifurcated into:
• On Trade
• Off Trade
Based on application, the industry is segmented into:
• Food Additive
• Dietary Supplements
• Sports Nutrition
The regional markets for black fungus extract are:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Because of the rising population and the growing awareness about the health benefits offered by this product, the demand from the food additives and the food and beverage industries is expected to grow in the forecast period, consequently propelling the black fungus extract industry. After the easing of lockdowns in developing economies like China, India, and Japan, there has been a significant rise in the food and beverage industry. Therefore, the black fungus market is anticipated to rise in the forecast period at a healthy rate.
Key Market Players
The major players in the market are Xi’an Pincredit Bio-tech Co.,Ltd, Nutra Green Biotechnology Co. Ltd, Xian Yuensun Biological Technology Co. Ltd., and N&R Industries, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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