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Reishi Mushroom Market to Generate $5.06 Bn, Globally, by 2027 at 8.1% CAGR: AMR
Increased demand for functional beverage ingredients, rise in product awareness & knowledge through advertisements, and inclination toward food & beverages that are obtained sustainably drive the growth of the global reishi mushroom market. Moreover, rise in consumer spending and health consciousness among consumers supplement the market growth. However, high price of reishi mushrooms hinders the market growth. On the contrary, increase in demand for organically grown products with high nutritional value and rise in adoption of organic reishi mushroom products are expected to open lucrative opportunities for the market players in the future.
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By form, the liquid segment is projected to register the highest CAGR of 8.5% during the forecast period, as it offers a concentrated nutrition version of the mushrooms as compared to powder and it can be easily added to beverages. However, the powder segment held the lion's share in 2019, accounting for around three-fifths of the global reishi mushroom market, as it offers essential nutrients as compared to its fresh version.
By nature, the conventional segment dominated the market in 2019, contributing to more than three-fifths of the global reishi mushroom market, as conventionally-sourced mushrooms are economical and widely used in industrial production. However, the organic segment is estimated to showcase the highest CAGR of 8.3% during the forecast period, owing to rise in awareness regarding the ill effects of synthetic chemicals on health.
By region, the global reishi mushroom market across North America held the largest share in 2019, accounting for more than one-third of the total revenue of the market, due to inclination toward health-conscious products and significant lifestyle changes along with rise in demand for plant-based food supplements. However, the market across Asia-Pacific is anticipated to manifest the highest CAGR of 7.3% during the forecast period, owing to tremendous popularity and substantial consumption of reishi mushroom products in the region.
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