Technavio analysts forecast the global medicinal mushrooms market to grow at a CAGR of over 9% during the forecast period, according to their latest market research report.
Expanding global vegan population is one of the major trends being witnessed in the global medicinal mushrooms market 2018-2022. A growing population of people worldwide are adopting a vegan diet primarily due to its health-promoting benefits. Over the last decade, the number of people opting for vegan diets has increased by about 300%. Foodservice outlets are also promoting veganism and are adding various options on their menu to attract vegan consumers. For instance, vegan cheese, vegan burger, and vegan beverages are some of the common vegan food offerings available at various eateries. In 2016, there were nearly half a million vegans in the UK. Also, numerous young consumers in the age group of 15-30 years are adopting a vegan diet, and this number is expected to increase during the forecast period, which will contribute to the overall global medicinal mushroom market.
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According to Technavio analysts, one of the key factors contributing to the growth of the global medicinal mushrooms market is the health-promoting benefits of medicinal mushrooms:
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Global medicinal mushrooms market: Health-promoting benefits of medicinal mushrooms
One of the growth drivers for the global medicinal mushroom market is the health-promoting benefits associated with the consumption of medicinal mushrooms. Medicinal mushrooms are rich in various nutrients such as vitamin D, potassium, calcium, vitamin B, amino acids, fiber, and other nutrients that are essential for the human body. Medicinal mushrooms help in increasing antioxidant activity. The medicinal mushrooms such as Chaga and Reishi are known for their antioxidant properties. Reishi has been known to reduce free radical activity and is also believed to relax and fortify both mind and body. Furthermore, medicinal mushrooms are known to boost both the levels and activity of many vital components of the immune system in the human body. Chaga mushrooms are known to increase the white blood cell count in the bone marrow. Also, the consumption of Chaga mushroom reduces low-density lipoprotein (LDL) cholesterol in the blood. These mushrooms also reduce inflammation in colon cells, which can help in the treatment of inflammatory bowel disease. Thus, with many such benefits, the market is expected to witness a positive outlook during the forecast period.
According to a senior analyst at Technavio, One other positive factor that is expected to boost the growth of the medicinal mushroom market is the growing health consciousness among consumers. The growing prevalence of obesity and other health conditions is encouraging health-conscious consumers to opt for food and beverage products that have various functional benefits. Several players in the market are introducing new products that are rich in nutrients and antioxidants and cater to the changing demands of consumers. The health and wellness lifestyle trends are growing in popularity among consumers in the age bracket of 18-32 years. Also, the number of consumers indulging in fitness activities is increasing globally, which is expected to accelerate the demand for medicinal mushroom products during the forecast period.
Global medicinal mushrooms market: Segmentation analysis
The global medicinal mushrooms market research report provides market segmentation by product (Reishi mushroom, Chaga Mushroom, other medicinal mushrooms), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for over 39% share, followed by the APAC and EMEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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