Rockville, MD, Dec. 24, 2024 (GLOBE NEWSWIRE) -- According to a new industry research report published by Fact.MR, a market research and competitive intelligence provider, the worldwide mushroom powder market is approximated to touch a valuation of US$ 5.11 billion in 2024, and further increase at a 6.3% CAGR through 2034. Because mushrooms are used in several nutritional supplements and have several health benefits, including boosting the immune system, enhancing cognitive function, and improving health, demand for mushroom powder is consistently increasing.
Consumer interest in dietary supplements, especially those containing powdered reishi, lion's mane, and chaga mushrooms, is growing due to their well-known medicinal benefits. Supplements containing mushroom powder are selling better as consumers are looking for more natural and holistic medical solutions. Aside from this, the nutritional and flavor advantages of mushroom powder are leading food and beverage firms to use it in a variety of items, including sauces, soups, and smoothies.
The North American region is forecasted to hold a leading position over the next ten years due to the growing demand for functional foods and dietary supplements, particularly in the United States. Demand for mushroom powder is also growing in East Asia as medicinal mushrooms have long been used as medicine. Sales of medicinal mushroom powder such as shiitake, reishi, cordyceps, and others are increasing in East Asia.
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Key Takeaways from Market Study
- The global mushroom powder market is projected to reach a size of US$ 9.42 billion by the end of 2034.
- North America is estimated to lead with a 9% worldwide market share in 2024.
- The market in the East Asia region is evaluated to touch a valuation of US$ 2.18 billion by 2034.
- China is analyzed to hold 9% of the revenue share in East Asia in 2024.
- Sales of mushroom powder in South Korea are evaluated to increase at a healthy CAGR of 7.1% through 2034.
- By nature, sales of conventional mushroom powder are projected to rise at a 4% CAGR from 2024 to 2034.
“To attract more customers, prominent players in the mushroom powder market are growing their manufacturing lines to incorporate new types and formulations, such as mixes or specialty variations,” says a Fact.MR analyst
Leading Players Driving Innovation in the Mushroom Powder Market:
Key players in the mushroom powder market are Om Mushroom Superfood, Chirosanlab, Costa Group, Woodland Foods, Nanjing NutriHerb BioTech Co. Ltd., Elite Ingredients, Rooted Active Naturals, Runherb Inc., Mahogany Organics Pvt. Ltd., Drinkwater Mushrooms, Greenyard, Monterey Mushroom, Inc., CMP Mushrooms.
High Preference for Conventional Mushroom Powder:
In comparison with organic options, conventional mushroom powder is in higher demand due to its wider availability and lower cost. Due to different production methods, conventional mushroom powder costs significantly less than organic mushroom powder. Due to the tried-and-true nature of traditional farming and processing methods, product supply is becoming more consistent and scalable.
The demand for conventional mushroom powder is rising despite the benefits of organic powder, such as less pesticide exposure, which price-conscious consumers are finding harder to purchase due to its greater cost and restricted availability.
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Mushroom Powder Industry News:
- Sunrider International will introduce the Sunrider ERB Functional Whole Foods collection in August 2024 as a new addition to its line of wellness, natural health, and beauty goods. Sunrider's ERB collection includes turmeric powder, cordyceps mushroom powder, black seeds, beetroot powder, and flaxseed.
- Macalat, an American candy business, developed a new brand of dark chocolate with mushrooms to boost flavor in March 2024.
- In September 2023, Applied Food Sciences Inc. teamed with K??P? Biotech, a Finnish business that specializes in the cultivation and research of fungi. According to the company, the collaboration will enable AFS to add Nordic-cultivated functional mushroom extracts to its botanical portfolio for use in food, drinks, and supplements.
- Nature's Rise, a firm that develops organic mushroom products, launched its flagship product, Lion's Mane Organic Mushroom Extract Powder, on Amazon.com in October 2022.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the mushroom powder market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on nature (organic, conventional), ingredient type (lentinula edodes, ganoderma lucidum, inonotus obliquus, hericium erinaceus, ophiocordyceps sinensis), application (food & beverages, cosmetics & personal care, foodservice, nutraceuticals, retail/household), and distribution channel (business to business, business to consumer (hypermarkets/supermarkets, specialty stores, online retail]), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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