A new report from Fact.MR says that global consumption of chaga mushroom-based products is anticipated to reach $87 billion by the end of 2033, increasing at a high-value CAGR of 11.9% over the next 10 years (2023-2033).
Inonotus obliquus is commonly addressed as chaga. It is a parasitic fungus that grows primarily on birch trees across colder climatic regions. It is a medicinal mushroom that comprises some unique and natural substances, including polyphenols and mycochemicals. Chaga mushrooms absorb some useful elements from their source, which is the birch tree. A lot of therapeutic benefits are exhibited in these products, which has helped them gain traction among end users and manufacturers around the world.
Historically, chaga has shown numerous health benefits and is considered a superfood. The presence of immune boosters and high antioxidants is propelling the sales of chaga mushroom-based products around the world. It has resulted in a sharp demand for these mushroom-based products in dietary supplements, beverages, functional foods, and the healthcare sector.
Growing use of sports nutrition supplements across the globe is projected to drive the demand for chaga mushroom-based products. Moreover, ongoing holistic research studies and clinical trials on different bioactive compounds that are present in chaga mushrooms aim to prove their effectiveness. Thus, this medicinal variant of mushrooms is further predicted to fuel market sentiments.
Key Takeaways from the Market Study
- Sales of chaga mushroom-based products are projected to reach $87 billion by the end of 2033.
- The market in Canada is expected to expand at a noticeable CAGR of 10.3% through 2033.
- The current value of the global chaga mushroom-based products industry is US$ 28.2 billion.
- The market is expected to progress rapidly at a CAGR of 11.9% through 2033.
- Demand for Chaga mushroom-based products in in Germany is estimated to expand at a CAGR of 9.3% through 2033.