Portland, OR, March 14, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global chaga mushroom market was estimated at $712.6 million in 2021 and is expected to hit $1.4 billion by 2031, registering a CAGR of 7.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $712.6 Million |
| Market Size in 2031 | $1.4 Billion |
| CAGR | 7.2% |
| No. of Pages in Report | 245 |
| Segments Covered | Nature, Form, End Use, and Region |
| Drivers | Increasing use of chaga mushroom in food & beverages and cosmetic & beauty care products |
| Surge in demand from the pharmaceutical and nutritional supplement industries due to its therapeutic and medicinal properties | |
| Opportunities | Rise in consumer acceptance of plant-based personal care & cosmetic products |
| Restraints | Lack of ideal climate conditions |
Covid-19 Scenario:
- The COVID-19 pandemic has brought about a positive change in the dietary habits of many Europeans, with a shift towards healthier and less meat-centric foods. Among fruits and vegetables, mushrooms stand out for their unique vitamin B content, and consequently, the chaga mushroom market in Europe has seen a surge in demand during the pandemic.
- However, the pandemic has also caused disruptions in the global supply chains and availability of mushrooms. The chaga mushroom, in particular, has been in short supply due to travel restrictions and labor shortages on farms, leading to losses for farm owners and a negative impact on the agricultural industry and economy.
- Despite these challenges, there has been a steady increase in demand for chaga mushrooms as the global situation gradually improves.
The report offers a detailed segmentation of the global chaga mushroom market based on nature, form, end use, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
By nature, the conventional segment held the largest share in 2021, garnering more than half of the global chaga mushroom market revenue and is projected to maintain its dominance by 2031. The same segment would also cite the fastest CAGR of 7.4% throughout the forecast period. Also, the organic segment is analyzed in the report.
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By form, the powder segment contributed to more than two-thirds of the global chaga mushroom market revenue and is projected to rule the roost by 2031. The liquid segment, on the other hand, would portray the fastest CAGR of 7.7% throughout the forecast period.
By end use, the food and beverage industry segment accounted for the highest share in 2021, generating more than two-fifths of the global chaga mushroom market revenue and is projected to rule the roost by 2031. However, the cosmetics and personal care segment would cite the fastest CAGR of 8.3% during the forecast period. The other segments assessed through the report take in pharmaceuticals and dietary supplements.
By region, Europe held the major share in 2021, garnering more than one-third of the global chaga mushroom market revenue and is projected to maintain its dominance by 2031. However, the Asia-Pacific region would also showcase the fastest CAGR of 8.2% throughout the forecast period. The other provinces studied through the report include North America, and LAMEA.
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The key market players analyzed in the global chaga mushroom market report include Xi'an Yuensun Biological Technology Co., Ltd., Fungi Perfecti LLC, Om Mushroom Superfood, Oregon Mushrooms Co., NutraCapLabs, L.L.C., Brainfood Mushroom Company, Aloha Medicinals, Xiamen Boten Biological Technology Co., Ltd, Sayan Health, Inc., Bioway (Xi'an) Organic Ingredients Co. Ltd., Annanda Chaga Mushrooms, White Mountain Mushrooms, LLC., Baikal Herbs Ltd., Naturalin Bio-Resources Co., Ltd, Touchwood Mushrooms, and Hangzhou Muhua Bio-Tech Co., Ltd. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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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.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
