Rockville, Jan. 10, 2023 (GLOBE NEWSWIRE) -- According to a newly published research report by Fact.MR, a provider of market research and competitive intelligence, global consumption of chaga mushroom-based products is anticipated to reach US$ 87 billion by the end of 2033, increasing at a high-value CAGR of 11.9% over the next ten years (2023-2033).
Growing use of sports nutrition supplements across the globe is projected to drive the demand for chaga mushroom-based products. Moreover, ongoing holistic research studies and clinical trials on different bioactive compounds that are present in chaga mushrooms aim to prove their effectiveness. Thus, this medicinal variant of mushrooms is further predicted to fuel market sentiments.
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Inonotus obliquus is commonly addressed as chaga. It is a parasitic fungus that grows primarily on birch trees across colder climatic regions. It is a medicinal mushroom that comprises some unique and natural substances, including polyphenols and mycochemicals. Chaga mushrooms absorb some useful elements from their source, which is the birch tree. A lot of therapeutic benefits are exhibited in these products, which has helped them gain traction among end users and manufacturers around the world.
Historically, chaga has shown numerous health benefits and is considered a superfood. The presence of immune boosters and high antioxidants is propelling the sales of chaga mushroom-based products around the world. It has resulted in a sharp demand for these mushroom-based products in dietary supplements, beverages, functional foods, and the healthcare sector.
Key Takeaways from Market Study
- Sales of chaga mushroom-based products are projected to reach US$ 87 billion by 2033-end.
- The market in Canada is expected to expand at a noticeable CAGR of 10.3% through 2033.
- The current value of the global chaga mushroom-based products industry is US$ 28.2 billion.
- The market is expected to progress rapidly at a CAGR of 11.9% through 2033.
- Demand for Chaga mushroom-based products in in Germany is estimated to expand at a CAGR of 9.3% through 2033.
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Market Development
The skin constitutes one of the largest living organs that protects the human body from various external environments. Further, the use of appropriate skincare products serves as a prominent part to evolve lifestyles. The personal care industry is growing at a noticeable speed over time. Demand for Chaga mushroom-based products in the personal care industry is projected to increase owing to their skin-friendly features.
Competitive Landscape
Prominent players in the industry are investing at an increased rate to launch new products as per the requirements of people around the world.
For instance,
- ChagaChaga Inc. is a New York-based beverage company that has released a chain of bottles of tea drinks for health-conscious people. This drink is available in multiple flavors, such as traditional, peach, and sugar-free.
Key Companies Profiled:
- Four Sigmatic
- My Berry Organics, LLC
- NordicNordic
- Nutra Green Biotechnology Co., Ltd.
- Nyishar
- Sayan Chaga
- Baikal Herbs Ltd.
- Eartherbs LLC
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Segmentation of Chaga Mushroom-based Products Industry Research
By Nature :
- Organic
- Conventional
By Application :
- Food & Beverages
- Personal Care
By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global chaga mushroom-based products market for the period of 2023-2033.
The study divulges essential insights into the market on the basis of nature (organic, conventional) and application (food & beverages, personal care), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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Yellow Oyster Mushroom Market: Yellow Oyster Mushroom Market to witness steady growth by 2028. The increasing demand for speciality mushroom is driving the demand for Yellow Oyster mushrooms.
Mushroom Coffee Market: Mushroom Coffee Market expects to grow at a 6% CAGR during the forecast by 2032. Demand for Mushroom Coffee rises owing to the medicinal benefits of mushrooms.
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