Global Reishi Mushroom Market to Reach $5.06 Billion by 2027: Allied Market Research

Rise in demand for functional beverage ingredients and inclination toward sustainable food & beverages have boosted the growth of the global reishi mushroom market. The market across Asia-Pacific is projected to register the highest CAGR of 7.3% during the forecast period. The Covid-19 outbreak and lockdown across several countries resulted in decline in the demand and sales graph of reishi mushroom.

PORTLAND, OR, March 08, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global reishi mushroom market generated at $3.09 billion in 2019, and is anticipated to reach $5.06 billion by 2027, registering a CAGR of 8.1% from 2021 to 2027.

Rise in demand for functional beverage ingredients, surge in product awareness & knowledge through advertisements, and inclination toward sustainable food & beverages have boosted the growth of the global reishi mushroom market. However, high price of reishi mushrooms hampers the market growth. On the contrary, rise in demand for organically grown products with high nutritional value and increase in adoption of organic reishi mushroom products are estimated to create new opportunities for the market players in the coming years.

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Covid-19 scenario:

• The Covid-19 outbreak and lockdown across several countries resulted in decline in the demand and sales graph of reishi mushroom. Moreover, the lack of labor has hindered the production.

• In addition, the government imposed stringent regulations to control the spread of the virus, which resulted in the closure of the wholesale market.

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However, as reishi mushrooms are known as therapeutic product, their demand is anticipated to rise in the coming years. The global reishi mushroom market is segmented on the basis of form, nature, end use, and region. Based on form, the powder segment dominated the market in 2019, accounting for around three-fifths of the market. However, the liquid segment is anticipated to manifest the highest CAGR of 8.5% during the forecast period.

On the basis of nature, the organic segment would portray the highest CAGR of 8.3% during the forecast period. However, the conventional segment held the lion’s share in 2019, accounting for more than three-fifths of the market.

The global reishi mushroom market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is projected to register the highest CAGR of 7.3% during the forecast period. However, the market across North America held the largest share in 2019, contributing to more than one-third of the market.

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The global reishi mushroom market report includes an in-depth analysis of major market players such as Bristol Botanicals Limited (UK), Alphay International, Inc. (China), DXN Holdings Bhd. (Malaysia), Bio Botanica, Inc. (U.S.), Xi'an Greena Biotech Co., Ltd (China), Ron Teeguarden Enterprises, Inc. (U.S.), Hokkaido Reishi Co., Ltd. (Japan), Shanghai Gubao Edible Mushroom Co., Ltd. (China), Fujian Xianzhilou Biological Technology Co., Ltd. (China), and Nammex (North American Medicinal Mushroom Extracts).

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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