Reishi Mushroom Global Market Report 2024

The reishi mushroom market size has grown strongly in recent years. It will grow from $4.27 billion in 2023 to $4.65 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth observed in the historic period can be ascribed to various factors, including a heightened interest in traditional medicine, an increased awareness of health and wellness, extensive research and publications, the expansion of the dietary supplement industry, as well as culinary uses and adaptation.

The reishi mushroom market size is expected to see strong growth in the next few years. It will grow to $6.39 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The anticipated growth in the forecast period can be attributed to the sustained interest in holistic health, an increasing demand for functional foods, the exploration of novel applications, the global expansion of awareness regarding herbal medicine, and ongoing research and clinical studies. Major trends expected in the forecast period include the expansion of the market in the nutraceuticals industry, the introduction of reishi mushroom powder, heightened awareness of reishi's anti-inflammatory properties, innovations in extraction techniques, and collaborative efforts for product development.

The reishi mushroom market is set for robust growth, fueled by the increasing demand for functional foods and dietary supplements. Functional foods, offering not only nutrients and energy but also positive impacts on specific bodily processes, have gained significant popularity. Likewise, there is a notable demand for dietary supplements, including vitamins, minerals, and herbal products, sought after for their health benefits. Reishi mushrooms, utilized as a dietary supplement, contribute to stress reduction, liver and heart health improvement, longevity promotion, and immune system enhancement. The heightened demand is underscored by a survey conducted by Kerry Group plc in November 2021, revealing that 44% of respondents reported an uptick in dietary supplement purchases since the onset of the pandemic, with 42% increasing their acquisitions of functional or fortified foods and beverages. A similar trend is evident in the Consumer Survey on Dietary Supplements by the Council for Responsible Nutrition (CRN) in October 2021, indicating an increase in the number of Americans consuming dietary supplements from 73% in 2020 to 80% in 2021. Consequently, the surging demand for functional foods and dietary supplements stands as a pivotal driver for the growth of the reishi mushroom market.

The escalating emphasis on health and wellness is expected to further drive the expansion of the reishi mushroom market. Health and wellness, encompassing physical, mental, and social well-being, have become integral components of individuals' lives. Reishi mushrooms, recognized for their therapeutic properties, find applications in dietary supplements, nutraceuticals, and functional foods. These mushrooms are believed to possess anti-angiogenic, anti-cancer, and cholesterol-lowering qualities, contributing to overall well-being. In alignment with this trend, reports from EnterpriseAppsToday in February 2023 reveal that 78% of residents in the USA adjusted their diets after consulting healthcare professionals. This growing interest in health and wellness serves as a significant catalyst propelling the expansion of the reishi mushroom market.

Major companies operating in the reishi mushroom market are actively pursuing the development of innovative products to strengthen their market positions. In February 2022, Gaia Herbs Inc., a US-based company specializing in natural herbal products, unveiled a new line of six mushroom capsule supplements dedicated to supporting overall health and well-being. The innovative product range includes Reishi mushroom, Respiratory Mushroom Blend, Immune Mushroom Blend, Lion's Mane mushroom, Cordyceps mushroom, and Turkey Tail mushroom. These mushroom capsules are designed to enhance various bodily functions, such as promoting healthy liver function, boosting energy and stamina, aiding in stress management, and supporting lung, immune, heart, brain, and neurological health. The capsules are crafted from pure and effective ingredients, cultivated without the use of pesticides, chemical fertilizers, or genetically modified seeds. They undergo rigorous quality assurance testing and are free from dairy, gluten, grains, and soy.

Leading companies in the reishi mushroom market are also strategically forming partnerships to provide reliable services to customers. In July 2022, Ethical Naturals Inc., a US-based supplier of premium botanical and natural source ingredients, collaborated with Nammex, a Canada-based company specializing in mushroom ingredients. This collaboration led to the introduction of the New Mushroom-Plus Ingredient Line, featuring products such as MycoCalm. MycoCalm, designed to support relaxation, contains organic red reishi and an L-theanine ingredient. The reishi extract in MycoCalm is standardized to 30% beta-D-glucans and contains triterpenes and other naturally occurring reishi components. The product is available in bulk powder or ready-encapsulated and bottled from Ethical Naturals Inc.'s cGMP-certified production facility.

In March 2022, Vibe Mushrooms Inc., a Canada-based company passionate about the health, wellness, and global sustainability benefits of functional mushrooms, acquired Qi Mushrooms for an undisclosed amount. This strategic acquisition enhances Vibe's ongoing research and development efforts by leveraging Qi's expertise to create products that effectively utilize reishi mushrooms. The timing of the acquisition aligns with the rapid evolution in the functional mushroom space and is expected to contribute to the growing demand for functional food and dietary supplements, where reishi mushrooms play a significant role. Qi Mushrooms, a US-based company specializing in mushroom extracts, is a key component of this strategic move.

Major companies operating in the reishi mushroom market report are Swanson Health Products, Nutraceutical International Corporation, Gano Excel, Alphay International Inc., Nature's Way, Bio Botanica Inc., Organo Gold, Aloha Medicinals., Aloha Medicinals Inc., Terrasoul Superfoods, Four Sigmatic, Hunan Huacheng Biotech Inc., The Mushroom Company, Amax Nutrasource Inc., Dragon Herbs, New Roots Herbal Inc., Mushroom Wisdom Inc., Dxn Holdings Bhd., Bristol Botanicals Limited, Qingdao Dacon Trading Co. Ltd., Fungi Perfecti, Ron Teeguarden Enterprises Inc., Xi'An Greenabiotech Co. Ltd., Hokkaido Reishi Co. Ltd., North American Medicinal Mushroom Extracts, Mushroom Science, Fujian Xianzhilou Biological Technology Co. Ltd., Real Mushrooms, Oriveda, Mycology Research Laboratories Ltd., Sayan Health Inc., SupHerb Farms, Fuyang Bestop Import and Export Ltd., Hunan Nutrmax Inc.

Asia Pacific was the largest region in the global reishi mushroom market in 2023. North America is expected to be the fastest-growing region in the global reishi mushroom market during the forecast period. The regions covered in the reishi mushroom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the reishi mushroom market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categorizations of reishi mushrooms are cultivated and wild. Cultivated reishi mushrooms are those nurtured through human activities such as planting, tending, harvesting, or enhancing through labor and skill. This encompasses species such as Ganoderma lucidum, Ganoderma Sinensis, Ganoderma tsugae, and others, available in liquid and powder forms, both organic and conventional. They find applications in various industries such as food and beverages, pharmaceuticals, nutraceuticals, dietary supplements, as well as cosmetics and personal care.

The reishi mushrooms market research report is one of a series of new reports that provides reishi mushrooms market statistics, including reishi mushrooms industry global market size, regional shares, competitors with a reishi mushrooms market share, detailed reishi mushrooms market segments, market trends and opportunities, and any further data you may need to thrive in the reishi mushrooms industry. This reishi mushrooms market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The reishi mushroom market consists of sales of Ganoderma sichuanense, and Ganoderma multipileum which are used in medicinal to help reduce stress, boost liver and heart health, promote longevity, and enhance the immune system. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.