The global Reishi Mushroom Extracts market is projected to grow with a CAGR of 8.84% during the forecast period (2021-2026).
- The application of reishi mushroom extracts as a functional ingredient in the healthcare industry is driving the growth of the market, as these mushrooms are being increasingly incorporated into health supplements. Moreover, increasing use of reishi mushroom extract as an ingredient in food and beverage is also expected to drive growth of the global market.
- Several epidemiological and clinical studies studies have confirmed the ability of reishi mushrooms and mushroom-derived supplements to increase the effectiveness of both innate and adaptive immune systems responses to a range of pathogens including viruses. As COVID-19 has boosted the sales of immunity boosting supplements, the application of reishi mushroom extracts in such supplements is expected to reflect a strong market growth.
- Also, modern research supports historical claims for reishi having immense benefits in enhancing the functions of the lung, heart and liver, while supporting mental health. However, occasional allergy after consumption of reishi mushrooms is a major restraint that could hamper the global market growth.
Key Market Trends
Surge in Demand for Functional Food and Dietary Supplements
There has been a considerable shift in the lifestyles and diet habits of consumers globally, over the past two decades. Urbanization and consumerism drove a rapid rise in the consumption of synthetic food products, resulting in an increased incidence of lifestyle diseases, of which consumers are increasingly becoming aware. As a result, consumers are gradually moving towards functional foods and beverages that are promoted as being beneficial beyond basic nutrition. These products are purported to provide optimal nutrition and reduce the risk of disease occurrence. Functional foods are gaining high popularity among health-conscious consumers. During the forecasted period, the demand for reishi mushrooms is expected to increase significantly, as these mushrooms are being incorporated in various functional food and beverages, such as coffee and cocoa. Lastly, rising consumer preference for organic and natural products in developing countries is projected to drive growth of the organic reishi extracts segment during the forecast period.
Asia Pacific holds the Largest Market Share
China is one of the largest producers of reishi mushrooms, globally. The country engages in the production of mushrooms at a large scale to meet the large external and internal market demands. As Reishi is widely used in traditional Chinese medicine and is also known as the "Elixir of Life", as well as the "Mushroom of Immortality", the market studied is expected to experience huge demand for Reishi medicinal mushrooms from Asia-Pacific. Additionally, Reishi mushroom is widely used as a medicine in Korea and Japan, among other countries. With the growing income levels of urban and rural Chinese consumers and with the transformation of comprehensive health awareness and consumption concept, consumers across the market are placing more importance on safety, nutrition, and consumption of healthy food with certain medical benefits. The rapid development of the catering industry stimulates the growth of mushrooms in the market. Catering channels are one of the crucial channels for mushroom marketing where the staff is continuously working to ensure the standard on food safety, strengthening the consciousness on raw materials' safety, and environmental protection, techniques of reishi mushroom cultivation and increasing demand for exotic mushroom varieties, and the market for functional mushrooms in the region is expected to witness significant growth in the coming years
The market studied is fragmented, with the presence of many small players. Key players, such as Nammex (North American Medicinal Mushroom Extracts), Bristol Botanicals Limited, and Bio-Botanica Inc. have focused on expansion by increasing the production capacity of mushroom farms. Nammex and Hokkaido Reishi Co. Ltd are some of the most active companies operating in the reishi mushroom market. Expansion is one of the most prevalent strategy adopted by the companies in this industry, owing to the rapidly transforming nature of the market, in which the demand of reishi mushroom extracts is rising across all regions.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
TABLE OF CONTENTS
- 1.1 Study Deliverables and Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
- 4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Product Type
- 5.1.1 Organic Extract
- 5.1.2 Conventional Extract
- 5.2 By Form
- 5.2.1 Liquid Extract
- 5.2.2 Powder Extract
- 5.3 By Application
- 5.3.1 Food and Beverage
- 5.3.2 Dietary Supplements
- 5.3.3 Personal Care
- 5.3.4 Pharmaceutical
- 5.4 By Geography
- 5.4.1 North America
- 220.127.116.11 United States
- 18.104.22.168 Canada
- 22.214.171.124 Mexico
- 126.96.36.199 Rest of North America
- 5.4.2 Europe
- 188.8.131.52 Germany
- 184.108.40.206 United Kingdom
- 220.127.116.11 France
- 18.104.22.168 Russia
- 22.214.171.124 Italy
- 126.96.36.199 Rest of Europe
- 5.4.3 Asia-Pacific
- 188.8.131.52 China
- 184.108.40.206 Japan
- 220.127.116.11 India
- 18.104.22.168 Australia
- 22.214.171.124 Rest of Asia-Pacific
- 5.4.4 Rest of the World
- 126.96.36.199 South America
- 188.8.131.52 Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Strategies Adopted by Major Players
- 6.2 Market Positioning of the Key Players
- 6.3 Company Profiles
- 6.3.1 Bio-Botanica Inc.
- 6.3.2 Bristol Botanicals Limited
- 6.3.3 Nammex (North American Medicinal Mushroom Extracts)
- 6.3.4 Hokkaido Reishi Co. Ltd.
- 6.3.5 Qingdao Dacon Trading Co., Ltd
- 6.3.6 Xian Yuensun Biological Technology Co.,Ltd.
- 6.3.7 Naturalin Bio-Resources Co., Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET