NEW YORK, July 16, 2021 /PRNewswire/ -- Technavio's latest report on the chaga mushroom-based products market projects a growth of USD 12.50 billion, registering a CAGR of over 12% during 2021-2025. According to the report, the Packaged Foods & Meats industry will have a POSITIVE impact due to the continued spread of the COVID-19 pandemic. Besides, the report provides a detailed analysis of the pre-and post-impact of COVID-19 on businesses.
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Based on the application, the food and beverage segment offered significant growth opportunities for market players in 2020. Factors such as new product launches and the introduction of new flavors played a crucial role in driving the growth of the segment. In terms of geography, the market witnessed maximum growth in North America in 2020 and the region is expected to continue its dominance in the market during the forecast period. The growth of the market in North America can be attributed to the increasing number of new players entering the regional market.
Chaga Mushroom-based Products Market: Major Growth Drivers
The chaga mushroom-based products market report identifies the following factors as major growth drivers during the forecast period:
- Health benefits of chaga mushroom
- Presence of large number of untapped markets
In addition, the report identifies the launch of new chaga mushroom-based products as a major trend in the chaga mushroom-based products market. The awareness about the health benefits of chaga mushrooms among consumers has increased over the years. This is triggering the demand for chaga mushroom-based products, which is increasing the frequency of new products introduced by vendors. This is resulting in an increase in the availability and sales of chaga mushroom products, thereby driving market growth.
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Chaga Mushroom-based Products Market: Key Vendor Offerings
Aloha Medicinals: The company offers mushroom blends in different catagories such as performax forte, immune assist, and others.
Annanda Chaga Mushrooms: The company offers different types of chaga products such as Annanda chaga tea, Canadian chaga powder, chaga mushroom & cinnamon immuni tea, and others.
Baikal Herbs Ltd.: The company offers wild chaga mushroom extract powder under chaga mushroom based product.
Chaga Mountain Inc.: The company offers wild chaga mushroom extract powder under chaga mushroom based product.
Chi Chaga Foods: The company offers different types of chaga products such as powder, supplement, chunks, cinnamon powder, and others.
Reasons to Buy Chaga Mushroom-based Products Market Report:
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist chaga mushroom-based products market growth during the next five years
- Estimation of the chaga mushroom-based products market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the chaga mushroom-based products market across North America, Europe, APAC, South America, and MEA
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of chaga mushroom-based products market vendors
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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