Reishi mushroom is a fungus, which belongs to the family Polyporaceae (or Ganodermaceae) of class Basidiomycetes. It grows on dead wood and various parts of the fungus namely, mycelia, spores and its fruiting body is consumed and sold in various forms as powder, capsule, tea, coffee, and others. The plant is intensively cultivated in countries all around the world, especially South-east Asian countries.
Reishi mushroom exhibits presence of various bioactive chemical constituents which reflects different biological properties, and is thus an important medicinal mushroom, used as cure of various diseases, as health tonics, and in cosmetics. This has been one of the major driving factors for the reishi mushroom market. Furthermore, the application of reishi mushroom powder as an ingredient in cosmetics & personal care products has gained high traction. This is due to its exceptional antioxidant, anti-aging, anti-wrinkle, skin whitening, and moisturizing effects, which make them ideal ingredient for cosmetics products. Hence, several multinational brands are gradually developing and launching personal care products manufactured using reishi mushroom as a chief ingredient. This is regarded as another driving factor of the reishi mushroom market. However, there are several problems with reishi mushroom based products due to their low reproducibility and poor-quality control. Various reasons such as seasonal variations, different soil conditions, and stage of fruiting body development, lead to weakened product quality. Hence, these factors are expected to hinder the growth of the market.
On the contrary, there has been an exponential growth in demand for organic food & beverage products owing to rise in health concerns. This can be regarded as an opportunity by manufacturers for further growth and expansion of the market through product diversification and innovation.
Owing to the outspread of COVID-19, the reishi mushroom market has been largely impacted due to lack of availability of workers, which in turn affected the production capacity. Furthermore, due to closures of wholesale markets, producers had to solely rely on supermarkets and e-commerce traders to market the mushroom products. Hence, the market for reishi mushrooms was largely impacted during the pandemic. However, since it is regarded as a therapeutic product, the demand for reishi mushroom is anticipated to gain higher traction in the near future. This is due to increase in consumption of dietary supplements and nutraceutical products by consumers as a means to stay healthier and gain immunity.
According to reishi mushroom market analysis, the market is segmented on the basis of form, end use, nature, and region. By form, the market is bifurcated into liquid and powder. By end use, the market is classified into food & beverages, pharmaceutical, nutraceutical & dietary supplements and cosmetics & personal care. By nature, the market is categorized into organic and conventional. Region wise, the market is studied across North America, Europe, Asia-Pacific and LAMEA.
The key players operating in the reishi mushroom market include Alphay International, Inc. (China), Bio Botanica, Inc. (U.S.), Bristol Botanicals Limited (UK), Ron Teeguarden Enterprises, Inc. (U.S.), DXN Holdings Bhd. (Malaysia), Shanghai Gubao Edible Mushroom Co., Ltd. (China), Xi’an Greena Biotech Co., Ltd (China), Fujian Xianzhilou Biological Technology Co., Ltd. (China), Hokkaido Reishi Co., Ltd. (Japan), and Nammex (North American Medicinal Mushroom Extracts).
KEY BENEFITS FOR STAKEHOLDERS
- The report provides a quantitative analysis of the current reishi mushroom market trends, estimations, and dynamics of the market size from 2021 to 2027 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size and segmentation assists in determining the prevailing reishi mushroom market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the reishi mushroom industry.
KEY MARKET SEGMENTS
- By Form
- By End Use
- ·Food & beverages
- ·Pharmaceutical, nutraceutical & dietary supplements
- ·Cosmetics and personal care
- By Nature
- By Region
- ·North America
? Rest of Europe
? New Zealand
? Rest of Asia-Pacific
? Saudi Arabia
? South Africa
? United Arab Emirates
? Rest of LAMEA