Reishi Mushroom Market to grow at a CAGR of 6.7% during 2024-2028
The Reishi Mushroom Market is expected to grow at a CAGR of 6.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1378.1 million. The global reishi mushroom market is experiencing significant growth due to the rising health consciousness among consumers. With the increasing prevalence of obesity and other health conditions, there is a growing demand for food and beverage products that offer functional benefits. Several market players are responding to this trend by introducing new reishi mushroom-based products, which are rich in nutrients and antioxidants. The health and wellness lifestyle is gaining popularity, particularly among the demographic of 18-32-year-olds. Additionally, the increasing number of consumers engaging in fitness activities worldwide is expected to fuel the demand for reishi mushroom products throughout the forecast period.
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Technavio analysts predict that the PND subsegment will lead the End-user segment during 2024 and 2028 The Reishi mushroom market represents a significant growth opportunity for businesses in the health and wellness industry. These fungi, prized for their medicinal properties, are gaining popularity for their potential immune system support and stress relief benefits. Market research indicates a steady increase in consumer demand, making it an attractive investment for businesses looking to expand their product offerings. Companies can capitalize on this trend by providing high-quality Reishi mushroom supplements or integrating them into existing food and beverage lines. The Reishi mushroom market is poised for continued expansion, offering lucrative prospects for forward-thinking businesses.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish health-promoting benefits of medicinal mushrooms
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Reishi mushrooms, also known as Ganoderma lucidum, Ganoderma tsugae, and Ganoderma sinensis, have long been used in traditional herbal medicines for their medicinal properties. These organic ingredients have gained popularity in modern times due to their role as functional food, health supplements, and functional ingredients in the food and beverage industry. With a focus on clean labels and natural health solutions, Reishi mushroom extracts have become a sought-after nutraceutical and pharmaceutical ingredient. These extracts come in various forms, including powder and liquid, and can be found in a range of applications, from functional foods and dietary supplements to pharmaceutical products. Reishi mushrooms are known for their anti-cancer properties, anti-inflammatory effects, and immune system support. They are also rich in adaptogenic properties, making them a popular stress adaptation agent in the wellness community. The Reishi mushroom market caters to various species, with wild and cultivated options available. Ganoderma lucidum is the most commonly used species for medicinal purposes, while Ganoderma tsugae and Ganoderma sinensis also offer unique health benefits. Reishi mushrooms have been used for centuries in traditional medicine, and their medicinal properties continue to be studied for their potential in modern healthcare applications. Whether you're looking for functional foods, dietary supplements, or pharmaceutical solutions, Reishi mushrooms offer a natural and effective approach to addressing lifestyle diseases and promoting overall health and wellness.
The Reishi mushroom market falls within the broader scope of the global packaged foods and meats industry. This sector encompasses manufacturers and food processing vendors engaged in preserving and extending the shelf life of food products. According to Technavio, the market size is determined by the consolidated revenue of participating entities. It's important to note that this market does not encompass vendors of food processing equipment or producers of packaged alcoholic and non-alcoholic beverages, including bottled waters. The expansion of the global packaged foods and meats market will be fueled by the growing consumer preference for minimally processed foods, which are rich in essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C.
The Reishi Mushroom Market is experiencing significant growth, fueled by the health-promoting benefits of medicinal mushrooms. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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