PUBLISHER: Allied Market Research | PRODUCT CODE: 1266539
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266539
The chaga mushroom market size was valued at $712.6 million in 2021, and is estimated to reach $1,397.1 million by 2031, registering a CAGR of 7.2% from 2021 to 2031. Chaga grows by taking the nutrients from the birch tree over the duration of 10 to 20 years after landing on such a birch tree, making it a truly nutritional excellent resource. Drinking birch sap for health and beauty is a long-standing custom in Russia. Birch trees are often referred to as mother trees or nursing trees. Birch sap is very advantageous and is expected to offer health benefits because of the high levels of saponin, polyphenol, polysaccharide, and nutritive value it contains. Birch sap is used in cosmetics because it has a high antioxidant capacity and is good for beauty.
The chaga mushroom has been witnessing significant growth in popularity in the cosmetic and beauty care business due to its abundance in skin-beneficial active ingredients including copper, magnesium, selenium, and potassium. Chaga mushroom's copper aids in promoting collagen synthesis, and magnesium is believed to help keep skin elastic and moist as well as to strengthen the skin barrier. Cells are shielded from harmful oxidative stress by selenium. Lastly, potassium keeps electrolyte balance and keeps the skin inside hydrated.
However, over the forecast period, it is estimated that the limited wild chaga mushroom production and the high price of mushrooms relative to vegetables will significantly restrain the market's expansion. A lack of promotion, a small selection of foods and beverages made with chaga mushrooms, and poor consumer awareness of the benefits of chaga mushrooms are also projected to hinder the growth of the global chaga mushroom market.
According to the market analysis, the chaga mushroom market is segmented into nature, form end use, and region. On the basis of nature, the market is categorized into organic and conventional. By form, it is segregated into powder and liquid. On the basis of end use, it is segmented into food and beverage industry, cosmetics and personal care, pharmaceuticals and dietary supplements. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, France, Spain, Italy, Russia, Germany and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
The major players operating in the chaga mushroom industry are: Baikal Herbs Ltd., Fungi Perfecti LLC, Annanda Chaga Mushrooms, Bioway (Xi'an) Organic Ingredients Co. Ltd., Sayan Health, Inc., Eartherbs L.L.C., Aloha Medicinals, Oregon Mushrooms Co., Mahogany Organics Private Limited, The Chaga Company LLC., NutraCap Labs, L.L.C., Canadian Pine Pollen Company, The Brainfood Mushroom Company, Touchwood Mushrooms, FreshCap Mushrooms Ltd., and Om Mushroom Superfood.