CEBU, Philippines — Filipino entrepreneurs, especially those who are into beauty and wellness businesses, are encouraged to explore on mushroom-based beauty product industry that is still in its early stages.
According to beauty and personal care (BPC) study conducted by market research service provider Mintel, the beauty and wellness potential of mushrooms make them a trending ingredient across BPC products.
Mintel, in its market intelligence digest released by the Export Management Bureau of the Department of Trade and Industry (DTI), thus underscored the need to offer a holistic approach to beauty, harness mushrooms' rich nutrient profile, and focus on their wellness benefits
It said that mushrooms boast of a wide range of beauty-enhancing benefits.
Mintel BPC Trend Beauty with a Brain highlights consumers' interest in products that balance the mood, while reducing skin anxiety and irritation.
It explained that the natural biodiversity of fungi makes them a versatile ingredient with potential in establishing a mind-body connection, with emotional and physical benefits from anti- stress to energy.
The report noted that the generous nutrient profile of diverse mushroom species can help brands to develop products that respond to complex needs.
“Their richness in vitamins, minerals and antioxidants creates opportunities across all BPC categories,” it added.
On their wellness benefits, the Market Intelligence Digest further said medicinal mushrooms, already known from traditional Chinese medicine, are increasingly cited as adaptogens, helping the body to better cope with physical or mental stress.
“Adaptogenic ingredients can adjust to the user's individual needs to restore balance where needed, thus tying in with the focus on wellness lifestyles,” it said.
Mushrooms are reputed for their rich nutrient profile, full of B vitamins, skin-essential minerals like copper, potassium and selenium, as well as a variety of antioxidant compounds.
Additionally, mushrooms even have applicability in developing biodegradable packaging, which will certainly increase the focus on this ingredient in the sub-zero waste era.
The report further revealed that while mushrooms have highest use in facial care products, the wide variety of species available and the versatility of nutrients these provide can create opportunities in multiple BPC categories.
While still a relatively niche ingredient, the quest for natural and scientifically trustworthy ingredients has prompted a visible increase in the use of mushroom extracts, the report said.
Mintel is a Londan-based market intelligence agency. Its analysis of consumers, markets, new products and competitive landscapes provides a unique perspective on global and local economies.
Since 1972, Mintel’s predictive analytics and expert recommendations have enabled its clients to make better business decisions faster.