(MENAFN- EIN Presswire) Chaga Mushroom Market
sales of chaga mushrooms is projected to increase at a value CAGR of 7.4% in 2022 and likely to reach US$ 1.89 Bn by the end of 2032-Persistence Market Research
NEW YORK, UNITED STATES OF AMERICA, November 25, 2022 /einpresswire.com / -- Global consumption of chaga mushrooms is pegged at 7,823 tons in 2022 and is set to increase at a CAGR of 7.3% to reach 15,786 tons by 2032. The market has grown considerably in recent years and is expected to grow rapidly over the forecast period of 2022-2032 as well.
In today's fast-paced world, consumers are more inclined toward nutritious, safe, and healthy food products, coupled with low salt and fat that benefit their well-being. Therefore, key industry players dealing in pharmaceuticals, food, and nutraceuticals are constantly in search of natural bioactive ingredients that provide health benefits beyond the nutritive values without deteriorating the quality of the end product.
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Medicinal mushrooms are composed of numerous bioactive ingredients, termed as next-generation healthy food components. Moreover, numerous varieties of mushrooms have been demonstrating health benefits, including chaga mushrooms, also known as inonotus obliquus, a fungi that are found in colder or harsh climates, and exhibits attributes such as high antioxidant properties and anti-tumour effects.
Chaga is a highly nutritious mushroom and its consumption supports a healthy lifestyle and helps reduce oxidative stress, lowers bad cholesterol, and supports immune functioning. Chaga is rich in triterpenoids, melanins, polysaccharides, and polyphenols, and can help regulate the production of cytokines, which would result in fighting against life-threatening illnesses.
Furthermore, dry chaga extract or powder has a high chromogenic polyphenol carboxylic complex, which is one of the most powerful biostimulators for human body metabolism. Furthermore, the liquid extract or chaga in the tincture form is consumed by incorporating a few drops in hot water, which offers nutritional and medicinal benefits.
Owing to high-quality proteins, dietary fiber, low level of fat, and the presence of flavonoids, it is preferred in the formulation of functional foods. Moreover, manufacturers are focusing on expand their production of chaga mushrooms to cater the evolving demand from healthcare, dietary supplement, and other industry verticals.
Key Takeaways from Market Study
Demand for chaga mushrooms in North America is expected to increase at a volume CAGR of 7.9% during the forecast period (2022-2032).
East Asia and Europe account 16.1% and 36.2% market shares, respectively.
Utilization of chaga mushrooms in dietary supplements is anticipated to reach US$ 625.9 Mn by 2032.
Based on distribution channel, sales of chaga mushrooms in the business to business segment are expected to increase at a CAGR of 7.4% and hold 76.1%
market share.
The South Asia & Pacific market registered a value of US$ 73.3 Mn in 2022 and holds 8% share of the global market.
“Tremendous therapeutic properties associated with chaga mushrooms is luring cosmetic manufacturers to develop innovate and better skincare products for human well-being. Furthermore, immune-boosting properties related to chaga mushrooms are anticipated to see their exponential growth in the dietary supplements and functional food industry,” says a Persistence Market Research Analyst.
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Competitive Landscape
Manufacturers engaged in the production of chaga mushrooms acquire various quality certifications for seamless extraction processes and utilize natural resources for growing chaga as a raw material. Moreover, several companies have state-of-the-art manufacturing facilities and harness eco-friendly technology to produce high-quality chaga mushroom extract, which will help in sustaining environmental life.
NutraCap Labs offers organic chaga mushrooms that are certified by USDA for organic production and assures consumers that no animal ingredients or by-products were incorporated in the manufacturing process.
BASF utilizes innovative eco-friendly technology to obtain 100% natural extract from chaga mushroom. This pure chaga extract is used as a bioactive ingredient for industrial applications.
Key Players:
Fungi Perfecti, LLC
Baikal Herbs Ltd.
Annanda Chaga Mushrooms
Bioway (Xi'an) Organic Ingredients Co. Ltd
Chaga Mountain, Inc.
Eartherbs L.L.C
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
Vitaforest
Touchwood Mushrooms
The Land of Organic Beauty
Birch Boys
The Land of Organic Beauty.
Biosan Biotech Co., Ltd
Hunan Huakang Biotech Inc.
Xi'an Healthful Biotechnology Co., Ltd
Half Hill Farm.
Chi Chaga Foods
Fat Fox Mushrooms
Pure Nordic
Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global chaga mushroom market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Chaga Mushroom Industry Research by Category
By Nature:
Organic
Conventional
By Form:
Powder
Liquid
By End Use:
Food and Beverage Industry
Cosmetics and Personal Care
Pharmaceuticals
Dietary Supplements
Retail/Household
By Distribution Channel:
Business to Business
Business to Consumer
Hypermarkets/Supermarkets
Convenience Stores
Specialty Stores
Online Retail
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By Region:
North America
Latin America
Europe
South Asia and Pacific
East Asia
Middle East & Africa
About food & beverage Division at Persistence Market Research
The Food & Beverage team at Persistence Market Research provides all the necessary insights and consulting analysis to fulfil the unique business intelligence needs of clients worldwide. With a catalogue of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
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