Medicinal mushrooms such as shiitake, reishi, cordyceps, chaga, and others have long been used in Eastern medicine or traditional medicine for their health-promoting properties. These mushrooms are cultivated for their high nutrient profile of protein, vitamins, and other essential nutrients which help regulate immune system, control cholesterol level, improve various body functions, and fight cardiovascular diseases, cancer, and other diseases. With growing demand for functional foods and ready-to-consume food supplements, medicinal mushroom powder has been gaining increasing adoption in the recent times. Further, these mushrooms find rising applications in food and pharmaceutical industries for their antioxidant, anticancer, hepatic-protective, and immune-regulating properties which are expected to impact the development of medicinal mushroom powder market.
Medicinal Mushroom Powder Market – Notable Developments
New Roots Herbal Inc., Nutra Green Biotechnology Co., Nyishar, Oriveda BV, Amax NutraSource, Inc., Real Mushrooms, Banken Champignons B.V., Hokkaido Reishi Co., Ltd, Mushroom Table, Nikkei Marketing Limited, Chaga Mountain, Inc., Concord Farms, Far West Fungi, Swadeshi Mushroom Spawn, DXN, M/S.MAHAGRO INDIA, Asia Pacific Farm Enterprises, SSD Mushrooms, Om, Organic Mushroom Nutrition, Bonduelle Fresh, Costa Pty Ltd, Lutece Holdings B.V., Okechamp S.A., Shanghai Finc Bio-Tech Inc, and The Mushroom Company are among the key players in the medicinal mushroom powder market.
· In March 2019, Om, Organic Mushroom Nutrition, a leading producer of whole food functional mushroom powders, announced to launch an innovative new line of Mushroom Superfood Daily Boost Capsules and Mushroom Superfood Functional Drinks Sticks at 2019 Expo West in California.
· In February 2019, one of the largest mushroom growers in the United States, South Mill Champs launched a new snack food venture called ‘Shrooms Snacks’. According to the company, the launch comes as plant-based snacking continue to penetrate the food industry which shows large-scale growth opportunities.
· In August 2018, HANAH, an ayurvedic superfood creator, launched ‘Cordyceps+’ which is a powerful combination of the rare Himalayan medicinal mushrooms Cordyceps sinensis and eight other herbs and medicinal mushroom powder. According to the company, it is the first product of its kind to use naturally-grown Cordyceps sinensis which boosts both purity and potentcy.
Medicinal Mushroom Powder Market Dynamics
Increasing consumer interest in healthy food products is expected to directly influence the growth of medicinal mushroom powder market. Growing health awareness along with consumer inclination toward vegan diet has largely contributed to the demand for medicinal mushrooms in the recent years. In addition, emerging functional food trend lined with adoption of ancient eating habits and eastern herbal medicine across the globe is projected to be highly impactful on the global expansion of medicinal mushroom powder market.
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Medicinal Mushroom Powder Market Gains Underpinned by Continuous R&D Efforts and Product Promotion
As medicinal mushrooms have gained high popularity among a wide range of global population, various industries are continuously focusing on R&D of the fungi. Further, several government organizations and international agencies are encouraging mushroom grower to adopt innovative farming technologies and effectively utilize small areas of cultivable land to enhance mushroom quality. This in turn is likely to contribute to the revenue maximization of medicinal mushroom powder market.
A focus on promotion and effective marketing of medicinal mushroom powder products through newer distribution channels such as e-commerce or online stores remain one of the important growth strategies for key players in the medicinal mushroom powder market. With rising number of health conscious population, social media influencers, and celebrities adopting and promoting wellness trends including gut-healthy products, functional foods, and anti-stress adaptogen, the market of medicinal mushroom powder is foreseen to earn significant traction in the years to come.