Rockville, MD., July 25, 2024 (GLOBE NEWSWIRE) -- According to the latest research report released by Fact.MR, the global Chaga Mushroom Market is projected to reach a size of US$ 1.05 billion in 2024 and expand at a CAGR of 7.2% from 2024 to 2034.
Chaga mushroom-based products have become increasingly popular for use in personal and cosmetic care products and also due to their several health benefits. The market is expanding at a significant pace as people become more aware of health and stomach issues. Chaga mushroom-based products contain SOD (superoxide dismutase), an enzyme that aids in the treatment of diabetes and high cholesterol. Sales of chaga mushroom-based products are increasing due to the high demand for solid supplements.
Chaga mushrooms contain several bioactive substances that are being studied in clinical trials to determine their effectiveness. As a result, this medicinal mushroom variety is expected to drive up market sentiment even more.
Together, North America and East Asia account for close to half of worldwide sales of chaga mushrooms. The powder form is widely preferred and leads overall product sales by far, with organic variants being more widely demanded.
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Key Takeaways from the Chaga Mushroom Market Study:
- The global market for chaga mushrooms is projected to expand at a CAGR of 7.2% from 2024 to 2034.
- The market is forecasted to increase to a value of US$ 2.1 billion by 2034.
- The market in the United States is expected to reach a size of US$ 116.2 million in 2024.
- East Asia is evaluated to account for a global market share of 22.6% by 2034.
- Revenue from Chaga mushroom sales in Japan is forecasted to reach US$ 141.2 billion by 2034.
- Sales of organic chaga mushrooms are estimated to reach US$ 793.4 million in 2024.
“Ever-increasing demand for personal care and cosmetic products is a key factor driving consumption of chaga mushrooms. While sales of organic chaga mushrooms as higher, it is the demand for conventional products that is increasing slightly faster,” highlights a Fact.MR analyst.
Convenient Monthly Supply Packaging of Powder Form of Chaga Mushrooms
Products made from chaga mushrooms that are shipped in powder form come with a box that contains information about the product, the expiration date, and other details. Due to this, consumers are more aware of luxury brands, and the demand for products containing powder form chaga mushroom is increasing by these brands. The entire pack of powder foam is available for use once a month. The lack of significant barriers to purchasing liquid bottles among consumers during the forecast period is expected to drive up sales of products containing powdered chaga mushrooms.
Key Market Players Driving the Chaga Mushroom Market:
Some of the leading players of the chaga mushroom industry include Chi Chaga Foods; Fat Fox Mushrooms; Pure Nordic; Half Hill Farm; Aloha Medicinals Inc.; Oregon Mushrooms LLC; Nammex; Mahogany Organics Pvt. Ltd; The Chaga Mushroom Company; NutraCap Labs; Canadian Pine Pollen Company; The Brainfood Mushroom Company; Hunan Huakang Biotech Inc. and, Xi’an Healthful Biotechnology Co. Ltd.
Chaga Mushroom Industry News:
The chaga mushroom market is expanding significantly due to an emphasis on efficacy and quality. Important companies are investing in R&D to support the health advantages of Chaga while establishing industry standards to guarantee product safety and purity. This involves comprehensive research and clinical trials to create consumer-friendly, healthier products.
Manufacturers of food and beverages are adding premium organic chaga supplements to their products, and the market is growing quickly. Multinational companies' arrival is anticipated to further accelerate market expansion. Leading the way are businesses like Hangzhou Muhua Bio-Tech Co., Ltd. that follow strict quality standards like HACCP, and cutting-edge companies like Restorative Botanicals that launch new product lines aimed at particular health advantages like immune system and gut health.
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Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034:
- Nature
- Form
- Distribution Channel
- End Use
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Nature
- Organic
- Conventional
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Form
- Powder
- Liquid
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Distribution Channel
- Business to Business
- Business to Consumer
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use
- Food & Beverages
- Cosmetics & Personal Care
- Pharmaceuticals
- Dietary Supplements
- Retail/Household
More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the chaga mushroom market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study details the chaga mushroom market based on nature (organic, conventional), form (powder, liquid), end use (food & beverages, cosmetics & personal care, pharmaceuticals, dietary supplements, retail/household), and distribution channel (business to business, business to consumer), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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