Medicinal Mushroom Extract Market-Overview
Medicinal mushrooms have been utilized in Eastern medicine for thousands of years, and they have recently increased in popularity. The list of health benefits provided by medicinal mushrooms is long, but each fungus is unique and offers its own set of benefits. According to Market Research Future, the market is on course to gain an income of USD 17558.6 Million by the year 2027 and register a CAGR of 6.40%.
The medicinal mushroom market is predicted to develop significantly in the forecast year, owing to the extract’s numerous health benefits. The worldwide medical mushrooms market will benefit from a greater focus on preventative healthcare in relation to medicinal mushrooms. The frequency of health conditions such as obesity, deteriorated immune systems, and malnutrition will continue to drive the global market forward in the approaching years. Also, the continued growth of functional foods has boosted the worldwide medicinal mushroom extract market’s growth prospects.
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The segmental investigation of the medicinal mushroom extract market is conducted based on function, type, form, and region. The function segment of the medicinal mushroom extract market consists of antioxidants, skincare, and immunity enhancers. The medicinal mushroom extract market type segment consists of shiitake, reishi, chaga, cordyceps, turkey tail, and maitake. The form segment of the medicinal mushroom extract market consists of capsules & tablets, powder, and liquid. The medicinal mushroom extract market segment consists of North America, Asia-Pacific, Europe, and other vital regions.
The regional overview of the medicinal mushroom extract market consists of North America, Asia-Pacific, Europe, and other vital regions. The Asia Pacific region dominates the medicinal mushroom extract market. Due to its high nutritional and medicinal value, the rising demand for medicinal mushroom mix water extract is a major factor driving market growth. China is a major contributor to the Asia Pacific market region’s expansion. Due to increased consumer awareness and the rise of the organized retail sector, the Asia Pacific market is estimated to grow at a CAGR of 5.8% during the forecast year. The European medicinal mushroom extract market is expected to increase significantly over the forecast year. The European medicinal mushroom extract market is growing due to the growing usage as immune boosters and other health advantages.
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The promising contenders in the medicinal mushroom extract market are New Roots Herbal, Inc. (Canada), Biofinest (US), Nature’s Way Products, LLC (US), The Nature’s Bounty Co. (US), Real Mushrooms (Canada), Oriveda BV (Netherlands), Aloha Medicinals (US), Nyishar (UK), Bio Botanica, Inc. (US), and Sayan Chaga (US)
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Sep 2021 Pure Extracts Technologies Corp. and Psyence Group Inc. have formed Pure Psyence Corp. to create nature-derived psilocybin extracts and enhanced psilocybin formulations for the long-term treatment of psychological trauma and its mental health repercussions. Pure Psyence aspires to be the industry leader in the extraction of organically sourced psilocybin for sophisticated formulations and clinical research.
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