Medicinal mushrooms have been attributed with various properties which have been found to offer health benefits such as improved immune system, increased oxygen flow, increased mental acuity, regulation of blood sugar and blood pressure among others. Recently, medicinal mushrooms have witnessed massive demand and are used across several industries. Market Research Future (MRFR) has projected that the global market for medicinal mushrooms is expected to grow at an above average CAGR of 12.60% during the forecast period of 2017 to 2023.
Mushrooms are delicate, and when consumed fresh, they have a short shelf life, which is a restraint to the growth of the market with regards to specific applications. Moreover, cultivation and extraction of mushrooms is not environmentally friendly and challenges market growth. Notably, research into the advancement of techniques used for cultivation and harvesting of medicinal mushrooms is expected to provide opportunities for growth in the coming years.
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Major Key Players Analysis
Prominent players in the global market for medicinal mushrooms include Hughes Mushrooms, Delftree Mushroom Company, Weikfield, Monaghan Mushrooms, Agro Dutch Industries Ltd., The Mushroom Company and Delftree Mushroom Company among others.
MRFR has segmented the market on the basis of type, form, function, and region. By type, the market is segmented to include shiitake, reishi, maitake, chaga, cordyceps, turkey tail, and other types. Shiitake mushroom dominates the market with the largest share due to its extensive use both in the food & beverage industry and int he pharmaceutical as it has a well-rounded range of benefits. It should be noted, however, that the reishi mushroom segment is projected to grow at the highest CAGR of 13.3 over the assessment period.
By form, Medicinal Mushrooms Market is divided between fresh, dried, and other forms. Fresh medicinal mushroom holds close to 50% of the total market share due to its wide use in the culinary sector. Mushrooms are used in a variety of preparations, and they are often consumed or cooked while fresh. However, dried mushrooms are expecting to witness the fastest growth due to their longer shelf life and multi-purpose use not limited to culinary uses.
Globally, the market is divided into North America, Europe, Asia-Pacific (APAC), and the Rest of the World.
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