Global Reishi Mushroom Extracts Market Size (2024 - 2029)

Reishi Mushroom Extracts Market Analysis

The Global Reishi Mushroom Extracts Market size is estimated at USD 6.86 billion in 2024, and is expected to reach USD 10.58 billion by 2029, growing at a CAGR of 9.04% during the forecast period (2024-2029).

The application of reishi mushroom extracts as a functional ingredient in the healthcare industry is driving the growth of the market, as these mushrooms are being increasingly incorporated into health supplements. Moreover, increasing the use of reishi mushroom extract as an ingredient in food and beverage is also expected to drive the growth of the market. Consumers are opting for the consumption of functional food and dietary supplements due to the increasing prevalence of diseases and the health benefits of functional food over junk food and fast food. Additionally, market players are using mushroom extract in body-building products which are attracting sports and fitness enthusiasts across the world.

Also, modern research supports historical claims for reishi has immense benefits in enhancing the functions of the lung, heart, and liver while supporting mental health. Owing to this, market players are launching new health supplements in the market. For instance, in April 2021, Gaia Herbs launched a new line of mushroom supplements that are made by using different types of mushroom extracts including reishi mushrooms. Furthermore, consumer demand for clean labels and organic ingredients is also increasing due to which the market players are using organic mushroom extracts in their products. However, occasional allergy after consumption of reishi mushrooms is a major restraint that could hamper the market growth. Over the medium term, the market is expected to grow owing to the increasing demand for dietary supplements and functional food and increasing demand for herbal medicines among consumers.

Reishi Mushroom Extracts Industry Segmentation

Reishi Mushroom is a type of mushroom that has several medicinal benefits and its extract is used in different food and pharmaceutical products. Reishi mushroom Extracts Market is segmented by product type, form, application, and geography. By product type, the market is segmented into organic extract and conventional extract. By form, the market is segmented as liquid extract and powder extract. By application, the market is segmented into food and beverage, dietary supplements, personal care, and pharmaceutical. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value in USD.