The global reishi mushroom market was valued at $3,096.9 million in 2019, and is projected to reach $5,059.4 million by 2027, registering a CAGR of 8.1% from 2021 to 2027. In 2019, the powderreishi mushroom segment accounted for the highest share in the reishi mushroom market size. Reishi mushroom is a type of mushroom that has been used in Chinese medicine for approximately 2000 years. It has a bright surface, a woody texture, and a deep red color.These mushrooms, are generally cultivated on oak trees and plum trees, and are commonly used in Chinese medicine, however now have expanded geographical presence.
There has been an upsurge in demand for functional beverage ingredients that deliver health and therapeutic benefits. Further, there is an increase in the demand for reishi mushroom owing to rise in health consciousness among consumers, surge in consumer spending, and increase in product awareness & knowledge through advertisements. Furthermore, consumers are increasingly inclined towardsfood &beverages that are obtained in a sustainable manner, such as that having simplified labels, no additive/preservative, non-GMO and recognizable ingredient list. This is one of the most crucial factors propelling the demand for reishi mushroom products. Moreover, 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 makes it 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. However, reishi mushroom products are priced higher as compared to its counterparts and hence it can cause hinderance in the reishi mushroom market growth.
On the contrary, consumers are constantly opting for edibles, which add higher value to their healthy lifestyle and regime. Hence, increase in health consciousness among consumers boost the demand for organically grown products with high nutritional value. This surge in adoption of organic reishi mushroom products can be regarded as an opportunity by the reishi mushroom producers for the growth and expansion of their market base.
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.
By Form
The liquid Reishi Mushroom segment would witness the fastest growth, registering a CAGR of 8.50% during the forecast.
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. Bynature, the market is categorized into organic and conventional. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of form, the powderreishi mushroom category accounted for the maximum reishi mushroom market share in 2019. Powderedreishi mushroom isextremely versatile in nature and its applications. It provides similar essential nutrients as compared to its fresh version, except with lower calories. It can blend easily in any food & beverage product. Therefore, powdered reishi mushroom segment accounted for the largest share in 2019. However, the liquidreishi mushroom segment is expected to grow at a higher CAGR during the forecast period.Liquid form of the mushroom extract comprises less impurities, which is important if a consumer is choosing to take reishi mushroom supplements for a particular effect. Furthermore, liquid forms provide concentrated nutrition version of the mushrooms as compared to powder. It can be easily added to on-the-beverages, which is another crucial consumer element.
By End Use
The cosmetics and personal care segment woud witness the fastest growth, registering a CAGR of 8.60% during the forecast.
On the basis of end use, the pharmaceutical, nutraceutical & dietary supplements segment accounted for the maximum share in the globalreishi mushroom market in 2019. Reishi mushrooms have high medicinal properties and have been formerly used for their therapeutic properties. With research & development, the application of resihi mushrooms in dietary supplements gained high momentum. Furthermore, the market for reishi mushroom experiences growth owing to surge in interest of consumers toward plant-based supplements.However, the cosmetics &personal care reishi mushroom segment is expected to grow at a higher CAGR during the forecast period. Reishi mushroomsoffer excellent antioxidant, anti-aging, anti-wrinkle, skin whitening, and moisturizing effects, which make them ideal ingredients for cosmetics products. Furthermore, with rise in consumer health consciousness, the demand for plant-based ingredients in skincare and personal care products has gained high traction. Hence, the cosmetics & personal care segment is anticipated to garner the highest traction during the forecast period.
On the basis of nature, the conventional reishi mushroom segment accounted for maximum share in the global reishi mushroom market in 2019.Conventionally sourced mushrooms are comparatively economical and are widely used in industrial production. They have advantage over organic reishi mushroom products, in terms of price and wide range of products available in markets However, the organic segment is anticipated to grow at the highest CAGR during the reishi mushroom market forecast period. Organic reishi mushrooms products are manufactured using all natural and non-GMO raw materials. Consumers have become conscious about the food they consume with the knowledge and awareness about the ill effects of synthetic chemicals on their health. Hence, the organic segment is expected to garner a considerable growth rate during the forecast period.
By Nature
The organic segment woud witness the fastest growth, registering a CAGR of 8.30% during the forecast.
On the basis of region, Asia-Pacific was the prominent reishimushroom market region in 2019. This can be attributed to the tremendous popularity andsubstantialconsumption of reishi mushroom productsin the region for centuries. Furthermore, China has been the largest producer and consumer of reishi mushroom products.However, North America is expected to witness a significant CAGR. Consumers in this region have been more inclined toward health-conscious products which includes functional food & beverages owing to the lifestyle changes. Therefore, there is an increase in the demand for plant-based food supplements.
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).
By Region
North America region woud witness the fastest growth, registering a CAGR of 9.1% from 2019-2026.
Key Benefits For Stakeholders
- The report provides a quantitative analysis of the current reishimushroom 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.
Reishi Mushroom Market Report Highlights
| Aspects | Details |
 By Form |
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 By End Use |
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 By Nature |
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 By Region |
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 Key Market Players | BRISTOL BOTANICALS LIMITED (UK), HOKKAIDO REISHI CO., LTD. (JAPAN), XI'AN GREENA BIOTECH CO., LTD (CHINA), FUJIAN XIANZHILOU BIOLOGICAL TECHNOLOGY CO., LTD. (CHINA), NAMMEX (NORTH AMERICAN MEDICINAL MUSHROOM EXTRACTS), DXN HOLDINGS BHD. (MALAYSIA), BIO BOTANICA, INC. (U.S.), ALPHAY INTERNATIONAL, INC. (CHINA), MUSHROOM SCIENCE, RON TEEGUARDEN ENTERPRISES, INC. (U.S.) |
Analyst Review
Amidst numerous traditional medicines, Ganoderma (reishi mushroom) has been used in Asian countries for over two millennia as a traditional medicine for maintaining vivacity and longevity. Over the past two decades, the reishi mushroom industry has developed greatly and currently offers a large number of products to the markets.
According to top-level CXOs, increase in prevalence of health issues due to stress and fatigue as a result of the hectic urban lifestyle has increased the demand for calming and stress releasing therapeutic drugs. This is considered as one of the dominant forces driving the demand for reishi mushroom market. Moreover, the key players in the market are expanding/launching their portfolio of reishi mushroom products such as powders, coffee blends, tea blends, and others. This is enabling consumers to choose among various options as per their requirements and is further propelling the demand. Furthermore, Ganoderma is a part of several cosmetics produced mainly in China, Korea, U.S. and some other Asian and European countries especially for skin lightening properties. This is another crucial factor that largely drives the market for reishi mushroom.
The CXOs further added that rise in rate of internet penetration around the major parts of the world makes way for manufacturers to initiate several key online marketing advertisements. Moreover, surge in number of hypermarkets, supermarkets, convenience stores as well as online retailing offering reishi mushroom products is expected to generate growth avenues for the reishi mushroom market.
The Reishi Mushroom Market size is anticipated to reach $5,059.8 million From 2021 to 2027.
The CAGR of Reishi Mushroom Market is 8.1%
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The Reishi mushroom market is segmented on the basis of form, end use, nature, and region.
The key players in the reishi mushroom industry 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).
The base year calculated in the Reishi Mushroom Market report is 2019.
The forecast period is the market report is from 2021 to 2027.
Reishi mushroom products are priced higher as compared to its counterparts and hence it can cause hinderance in the reishi mushroom market growth.
The powder market holds the maximum market share of the Global Reishi Mushroom market.
The COVID-19 pandemic had a negative impact the Reishi Mushroom market in 2020.
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