Medicinal Mushrooms Market: Introduction
Medicinal mushrooms are mushrooms which are cultivated for their high nutrient profile of proteins, vitamins, antioxidants and amino acids. Medicinal mushrooms are native to Asia and cultivated on a large scale in this region. The medicinal mushrooms are known for their cure for seasonal allergies, common cold, inflammations, alleviating asthma and bronchitis and boost the functioning of the nervous system. Due to the growing consumer interest for health food products, especially in North America, distributors are expanding outlets which offer a wide array of functional beverages incorporated with medicinal mushrooms. In 2015, Four Sigmatic Foods, which is a Finnish company specializing in medicinal mushrooms based beverages expanded in the U.S., due to the drastic consumer traction gained within a few years in this region.
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Medicinal Mushrooms Market: Dynamics
The medicinal mushroom market is in the high growth phase of the product lifecycle and expected to witness a remarkable upsurge over the forecast period. Other converging trends that are supporting the growth of the medicinal mushrooms market are the functional food trend, ancient-eating or authentic foods of ancestor’s, eastern herbal medicine and gut-healthy products.
Medicinal mushrooms happen to meet at the nexus of all these trends. However, all the health claims made in the name of medicinal mushrooms need to be supported by scientific consensus as the next thing consumers focus on, after knowing the health benefits is the medical communities’ opinion.
The most glaring hurdles the medicinal mushroom market faces, is the taste. Medicinal mushrooms’ industrial end users may have to spend extra costs on using a large amount of masking agents to mask their bitter and mud like tastes. As mushrooms are the reflection of the environment they are grown in, sourcing of medicinal mushrooms may become difficult. Also, growers find it extremely difficult to maintain transparency about their products.
Medicinal Mushrooms Market: Segmentation
The medicinal mushrooms market is segmented on the basis of product type, product form and end use.
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Medicinal Mushrooms Market: Regional Outlook
In 2015, the company Project Juice which is an organic food & beverage company based in California, launched lattes which are infused with medicinal mushrooms in the form of adaptogens. The product includes in the medicinal mushrooms such as chaga and reishi.
Medicinal Mushrooms Market: Key Players
Rising consumer awareness and educational marketing is the key strategy that will help the growth of the medicinal mushrooms market. The key demographic for the medicinal mushrooms market is the high-end consumer. The products can be marketed through the fashion magazine, spas and other beauty supplements stores.
The medicinal mushrooms market is expected to witness growth particularly in the developing countries where the shelves of the retail stores are stacked with unusual and rare functional food and beverages. Entering into collaborations with various herbal supplements distributing chains and strategically educate the key demographic may further catalyze the growth of the medicinal mushrooms market.
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