Dublin, Sept. 20, 2024 (GLOBE NEWSWIRE) -- The "United States Psychedelic Mushroom Market, By Region, Competition, Forecast & Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
United States' Psychedelic Mushroom Market was valued at USD 1.80 billion in 2023, and is anticipated to register impressive growth during the forecast period, with a CAGR of 11.30% through 2029, reaching USD 3.44 billion.
Psychedelic mushrooms, particularly psilocybin-containing mushrooms, are gaining acceptance for their potential therapeutic benefits. Research studies are exploring their use in treating conditions such as depression, anxiety, and PTSD. Some cities and states have taken steps towards decriminalizing or legalizing the possession and use of psychedelic mushrooms. For example, Denver, Colorado, and Oakland and Santa Cruz in California had decriminalized the possession of psilocybin.
Regional Insights
The North-East region poised to dominate the United States Psychedelic Mushroom Market for several compelling reasons. Firstly, this region has a rich history of embracing alternative and holistic health practices, including the use of natural substances like psychedelic mushrooms. This cultural openness and acceptance provide a conducive environment for the growth of the psychedelic mushroom market. Secondly, the North-East is home to many major cities and urban centers, which are hubs for research institutions, medical facilities, and a diverse population. This concentration of resources and intellectual capital fosters both scientific research into the therapeutic potential of psychedelic mushrooms and a growing interest in their applications for mental health and well-being.
The North-East region tends to be more progressive in its drug policies and regulations compared to other parts of the country. This leniency can facilitate the development and distribution of psychedelic mushroom products for both recreational and therapeutic use. Overall, the North-East region's cultural openness, urban infrastructure, and regulatory environment make it a prime candidate for leading the way in the United States Psychedelic Mushroom Market.
Key Market Drivers
- Rising Interest in Mental Health Treatment
- Investor and Business Opportunities
- Research and Clinical Trials
- Cultural and Societal Factors
Key Market Challenges
- Federal Legal Status
- Regulatory Uncertainty
- Safety Concerns
- Lack of Standardization
Key Market Trends
- Increased Scientific Exploration
- Expanding Legalization Efforts
- Mainstream Mental Health Integration
Report Scope
In this report, the United States Psychedelic Mushroom Market has been segmented into the following categories:
By Product Type:
- Psilocybe
- Psilocybe cubensis
- Psilocybe semilanceata
- Psilocybe azurescens
- Psilocybe cyanescens
- Psilocybe baeocystis
- Gymnopilus
- Spectabilis
- Others
- Panaeolus
By Form:
- Fresh/Whole
- Dried
- Processed
By Application:
- Depression Relief
- Anxiety Relief
- De-addiction
- Recreational
- Others
By Region:
- North-East
- Mid-West
- West
- South
Key Attributes
| Report Attribute | Details |
| No. of Pages | 85 |
| Forecast Period | 2023-2029 |
| Estimated Market Value (USD) in 2023 | $1.8 Billion |
| Forecasted Market Value (USD) by 2029 | $3.44 Billion |
| Compound Annual Growth Rate | 11.3% |
| Regions Covered | United States |
A selection of companies mentioned in this report includes, but is not limited to:
- Shroomland LA
- Galaxy Treats
- Blissmushrooms
- One Up Mushroom
- Psychedelic Mushy
For more information about this report visit https://www.researchandmarkets.com/r/41o7as
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