As increasingly health-conscious consumers seek alternatives to modern drugs and medicines, there is a tremendous market opportunity to enhance the health and wellness of millions of consumers with our suite of restorative mushroom products.
The wellness industry is one that is expected to rise exponentially in the coming years. Worldwide, people have realised the importance of self-care. People want to stay fit, eat well, and reduce stress. The global functional food marked is expected to reach $34.3 billion by 2024, registering a CAGR of 8.04% for the forecasted period (2019-2024). Specific to medicinal mushroom, Food Navigator found that year-over-year sales for mushroom related products have risen between 200-800%. According to Tachnavio (London, UK), the global medicinal mushrooms market is poised to grow by US$13.88 (2018-22), progressing at a capitalised annual growth rate of more than 9%.
These forecasts are based on the fact that consumers worldwide are adamant on living happier and healthier lives, and have specifically paid attention to the need of putting Self into Care. As such, the organic and plant-based food industry has soared, as products offer disease prevention, or increased nutrition and general health. With increased demand for products promoting anti-oxidants and defence from autoimmune conditions, medicinal mushrooms are poised in a prime position to answer this market demand. Indeed, mushroom extracts resist the damaging effects of stress and restore normal physiological functioning. Therefore, it is no surprise that Data Bridge Marketing Research suggests that the medicinal mushroom market is expected to reach US$78.8 billion by 2025, growing at a CAGR of 9.5% during the forecast period of 2018-2025.
Source : Hitwise