Global Medicinal Mushrooms Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Medicinal Mushrooms Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Medical Mushrooms are mushrooms that are used or can potentially be used in the future to make medical drugs. They contain one or more compounds that can have various health benefits as well, such as antiviral or anti-senescence properties. Many medical mushrooms also contain adapt genic properties which are under study, such as compounds which boost the immune system by stimulating lymphocyte production, or novel anti-inflammatory.

Medical Mushrooms are now increasingly valued for their many important medicinal properties, so much so that they are used not only as dietary food (functional foods) but also in the form of dietary supplements, nutraceuticals, and mycotherapy products, etc.

Market Overview:

The latest research study on the global Medicinal Mushrooms market finds that the global Medicinal Mushrooms market reached a value of USD 338.86 million in 2022. It’s expected that the market will achieve USD 470.9 million by 2028, exhibiting a CAGR of 5.64% during the forecast period.

Influence of COVID-19 Outbreak on Medicinal Mushrooms Industry Development

In the early days of COVID-19, raw material supply chains were disrupted due to national lockdowns, putting pressure on industry product supply. The COVID-19 pandemic has affected the industrial and commercial progress of most of the regions in the world. The persistence of the COVID-19 for a longer period has adversely affected the most vulnerable groups of the population including adults aged more than 60 years, mothers, and children. Globally, countries are expecting a drastic decline in dietary quality in low- and middle-income countries as a result of loss of income, the shutdown of businesses, human and goods movement restrictions imposed by governments, de-globalization, and breakdown of the supply chain of food markets due to both demand shocks and supply constraints. The pandemic has hit logistics hard, severely impacting turnover. Factors such as labor shortages and increased raw material costs will increase production costs and risks. At the same time, under the impact of the capital market, investor confidence has been frustrated, and corporate financing has become more difficult.

The supply chain plays a major role when it comes to the sale of food products and due to the persistence of COVID-19, the supply chain has been disrupted worldwide. With the persistence of COVID-19, there have been restrictions on transportation, import, and export of food products. Furthermore, with the movement restriction on workers as well, the manufacturing of medicinal mushrooms and their products has been affected due to which the demand from consumers has not been fulfilled. Also, with restrictions on import and export, it has become difficult for the manufacturers to supply their products to various regions, which has impacted the prices of medicinal mushrooms and their products. Thus, with ongoing restrictions due to COVID-19, the supply chain for the medicinal mushroom market has been disrupted, which is creating a major challenge for the market.

Medicinal mushrooms support the immune system and quelling inflammation. As COVID-19 directly affects the immune system medicinal mushrooms can fight against the virus and rebuild immunity and being aware of this fact consumer demands more supplements made of medicinal mushrooms. During the COVID-19 pandemic, people The growing demand for medicinal mushrooms is mainly based on their effects in immune maintenance.

Limitations

The adverse effects of natural calamities on crop yield will be a major challenge for the medicinal mushrooms market during the forecast period. Natural calamities include drought, floods, storms such as cyclones and hurricanes, earthquakes, and volcanic eruptions. Apart from natural calamities, the cultivation of medicinal mushrooms can be affected by various diseases among plants, which can negatively affect the growth of the global medicinal mushrooms market. Therefore, the increasing damage to crops due to natural calamities may have an adverse impact on the growth of the medicinal mushrooms market.

The growth of medicinal mushrooms is affected by natural factors such as climate, soil, and sunshine. For example, natural disasters such as drought, floods, insect disasters, and abnormal temperature during the growth period of Reishi will cause the production of Reishi to decrease or the effective medicinal components to decrease, thus causing the industry to face difficulties. Risk of inability to obtain sufficient quality raw materials.

If the production of medicinal mushrooms is not regulated in accordance with the prescribed standards, the medicinal mushrooms may be affected by pesticide residues, excessive metals, environmental pollution, etc. during the cultivation process, and even adulteration and fraud may occur. There may be a small number of substandard products entering the circulation in the industry, which will affect the quality of related products, affect the health of consumers, and then damage the reputation of the industry.
The fluctuation of raw material prices has a great impact on the company's production and operation. If the price of raw materials continues to rise due to factors such as international trade, national policies, climate change, natural disasters, increase or decrease in rural arable land, and fluctuations in labor costs, it may increase the production cost of the mushroom products, which may adversely affect performance.

Region Overview:

China had the highest growth rate of all regions.

Company Overview:

GanoHerb is one of the major players operating in the Medicinal Mushrooms market, holding a share of 13.16% in 2022.

GanoHerb

Since its establishment in 1989, GANOHERB Group has operated its whole industry chain of Reishi Mushroom for 30 years.

Zhongke Health Industry Group

Its main business is the production and R&D of Chinese medicine health products. The products mainly include Ganoderma spore capsules and Ganoderma spore oil capsules.

Segmentation Overview:

Among different product types, Reishi segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Dietary Supplements segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Medicinal Mushrooms market covered in Chapter 3:

NAMMEX
Zhongke Health Industry Group
GanoHerb
Four Sigmatic
Nyishar
Johncan international
Aloha Medicinals
Amino Up Chemical
Fungi Perfecti
Shaanxi Undersun Biomedtech
Sayan Chaga
Hokkaido Reishi Co
Zhejiang Shouxiangu

In Chapter 4 and Chapter 14.2, on the basis of types, the Medicinal Mushrooms market from 2018 to 2029 is primarily split into:

Maitake
Shiitake
Reishi
Turkey Tail Mushrooms
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Medicinal Mushrooms market from 2018 to 2029 covers:

Dietary Supplements
Pharmaceutical
Functional Food & Beverages
Personal Care & Cosmetics

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)