The structural tailwinds in the Food & Beverage Industry are blowing like a gale out of the global economy. Global Covid-19 Analysis on Medicinal Mushroom Market 2020 size is now estimated to reach at 7,246,936 tons and is expected to grow at 12.60 percent per annum over the next six years from 2020-2023—states Market Research Future (MRFR). In this report, MRFR is also regularly tracking the direct effect of COVID-19 on the market at a global level.
Medicinal Mushroom Market Drivers
MRFR finds in research that mounting awareness about the health benefits of medicinal mushrooms is working as a prime driver for the escalation of the global medicinal mushrooms market. Chaga, Cordyceps, reishi, turkey tail, and shiitake are common medicinal mushroom types that are being extensively used worldwide. The medicinal mushrooms are microscopic fungi that are gaining popularity for its health-promoting abilities.
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Medicinal mushrooms are gaining impetus owing to its antioxidant nature, immune enhancer, skincare, and anti-cancer prosperities. In recent times, there is remarkable growth in health issues among people in various regions across the globe. As a result, the major health-conscious populace is inclined toward consuming functional foods. Such a factor is stimulating demand avenues for the global medicinal mushrooms market primarily that would take the expansion far in the forecasted period.
Medicinal mushrooms are a rich basis of proteins, amino acids, and vitamins. The growing use of these mushrooms in the treatment of seasonal allergies, common cold, inflammations, asthma, and bronchitis are estimated to facilitate in escalating the sales of the global medicinal mushrooms market in the future timeframe. Along with this, the gamut of vendors in this market is increasing the range of investments in research and development activities, which is also somehow favoring the market’s expansion. With the help of such a strategy, the vendors are focused on exploring the possibilities of the use of medicinal mushrooms in various untapped industries. These factors are suggestive of the bright future of the global medicinal mushrooms market during the forecast period.
The list of top players in the Global Covid-19 Analysis on Medicinal Mushroom Market includes Monaghan Mushrooms (England), BONDUELLE SA (France), The Mushroom Company (U.S.), AGRO Dutch Industries Ltd. (India), BANKEN Champignons (the Netherlands), DELFTREE Mushroom Company (U.S.), SCELTA Mushrooms BV (the Netherlands), Hughes Mushrooms (U.K), and Weikfield (India).
By the segment of type, shiitake mushroom is leading Covid-19 Analysis on Medicinal Mushroom Market and might hold the lion’s share of 59.26%. Rising awareness of sky-scraping nutritional and medical benefits of shiitake mushroom includes bone-building, improved cardiovascular health, healing chromosome damage caused by anti-cancer treatments, improved digestion, and others is boosting the application of shiitake mushroom in various industries.
By the segment of the category, the fresh medicinal mushroom industry will govern the market and is projected to embrace a significant share of approx. 48.62% in the global market. Fresh medicinal mushroom is extensively used to prepare different cuisines for its rich and robust flavoring attribute, driving the market of fresh medicinal mushroom.
By the segment of the function, the antioxidant segment is also governing the market with a leading share of 35.67%. As an antioxidant, it is gaining regard in assorted industries such as pharmaceuticals and cosmetics. However, in the food industry, it is widely accepted as an immune enhancer and, thus, growing at a CAGR of 12.86% in the forecast period.
The Asia Pacific is leading the market in the use of fresh medicinal mushrooms. The key reason for this ascendancy is the towering consumption of medicinal mushrooms in several countries, specifically China and India. This aside, the mounting use of these products in the cosmetics industry is also projected to boost the demand avenues in the Asia Pacific medicinal mushrooms Industry in the years ahead.
However, North America is the second-largest growing country in the fresh medicinal mushroom market, which is rising at a CAGR of 11.11% over the forecast period.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.