The Latin America, Middle East and Africa Functional Mushroom Market would witness market growth of 11.5% CAGR during the forecast period (2021-2027).
People who are health-conscious choose low-fat and low-calorie foods. Mushrooms are high in vitamins and nutrients such as iron, zinc, and fibre, and are low in calories. There are many dieticians and nutritionists who are suggesting the consumption of functional mushroom supplements to their clients for better immunity and body balance. This high adoption and numerous nutrition content of functional mushroom are estimated to fuel the growth of the functional mushroom market over the forecast period.
Some mushrooms, such as reishi, Cordyceps, and lion's mane, may contain adaptogenic characteristics that can help the body cope with stress. However, research in this area is limited, and more well-designed studies are needed to completely understand the way these mushrooms help in coping with human stress. Many people who do workouts consume functional mushroom supplement after their sessions to regain their energy and optimize the oxygen flow in their body.
A huge number of unidentified mushroom species with unknown wellness characteristics could be found in Africa, most notably in Nigeria. Nigeria is home to a broad range of mushroom species due to its distinct climatic circumstances, which include tropical rainforest in the south and sub-Saharan conditions in the north. According to an ethnomycological survey of mushroom consumption in North Central Nigeria, the majority of people consume mushrooms for their nutritional (81.7%) and palatability (93.5%) qualities, whereas just 15.1 percent take mushrooms for their therapeutic capabilities.
The Brazil market dominated the LAMEA Functional Mushroom Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $242.9 million by 2027. The Argentina market would witness a CAGR of 12% during (2021 - 2027). Additionally, The UAE market is anticipated to grow a CAGR of 11.2% during (2021 - 2027).
Based on Application, the market is segmented into Pharmaceutical, nutraceutical & dietary supplements; Food & Beverage and Personal Care & Cosmetics. Based on Product Type, the market is segmented into Reishi, Cordyceps, Lion’s Mane and Others. Based on Distribution Channel, the market is segmented into Specialty Stores, Supermarkets & Hypermarkets, Online Distribution Channel and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Functional Mushroom Market is Predict to reach $13.6 Billion by 2027, at a CAGR of 8.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hokkaido Reishi Co. Ltd., Real Mushrooms, Pan's Mushroom Jerky, Om Mushroom Superfood, Four Sigmatic, Banken Champignons B.V., South Mill Mushrooms Sales, Inc. (The Mushroom Company), and Half Hill Farm, Inc.
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