GLOBAL MEDICINAL MUSHROOM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America region is anticipated to have 30.2% of the market share in 2024 and continue its dominance throughout the forecasted period. The U.S. in particular, has seen rising awareness and adoption of Eastern herbal medicines and functional foods containing medicinal mushrooms. Several North American companies have established large-scale cultivation facilities and have pioneered new extraction and formulation techniques. Their production capabilities allow for price competitiveness and reliable supply chains within the region as well as exports globally. Additionally, the prevalence of herbal supplement retail chains such as GNC and Whole Foods provides easy accessibility for consumers in North America. Major players in the region also invest heavily in clinical research to validate the medical benefits of mushrooms, which helps gain market acceptance.

The Asia Pacific region, led by China, has emerged as the fastest growing market for medicinal mushrooms in recent years. Countries like China, Japan and South Korea have the longest history of usage and are considered the original centers of cultivation for many medicinal mushroom varieties. Local populations rely heavily on traditional medicines using mushrooms, securing a steady domestic demand. However, China in particular has substantially increased exports as producers recognize the commercial opportunities in overseas markets. They have significantly expanded harvest volumes of popular varieties such as shiitake, maitake and reishi to meet rising global demand. Chinese exporters also keep prices competitive by leveraging their early-mover advantage, economies of scale, and lower production costs in the region. This has enabled them to penetrate Western markets and give North American companies competition. With continued market development investments, Asia Pacific is positioned to become the dominant force in the worldwide medicinal mushroom trade.