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Covid-19 steepens the trajectory of an already booming functional mushroom market

Covid-19 steepens the trajectory of an already booming functional mushroom market

The global functional mushroom market was valued at USD 25.4 billion in 2020, and it projected to reach a CAGR of 8.44% during the forecast period 2021-2026. This is according to a Functional Mushrooms Market 2021 report published by Research and Markets in October 2021. The report highlights that while demand for mushroom-based products had been increasing for some time, functional mushrooms have been ‘brought into the spotlight’ as a result of Covid-19 and the category is experiencing accelerated growth.

The global functional mushroom market is growing rapidly fuelled by functional foods gaining popularity amongst health-conscious consumers. Functional mushrooms are increasingly being used in a wide variety of healthcare and pharmaceutical products, which is also helping to drive the trend. Further, with a number of scientific studies confirming that functional mushrooms and mushroom-derived supplements ability to boost the immune system, market growth in this category has increased due to Covid-19.

“This report gives evidence to our belief that consumers are increasingly looking for natural alternatives to help boost their immunity and their wellbeing. When we launched GOODMIND™ in March 2021 we were excited to bring this category to the South African market and the uptake we have seen so far validates what we are seeing on a global scale,” says Psyence’s Chief Strategy Officer Tony Budden.

GOODMIND™ is a premium range of functional mushroom products, which include Functional Mushroom capsules and newly released water-soluble Functional Mushroom sachets. The GOODMIND™ formulas harness the power of adaptogens, which are non-toxic, non-psychoactive fungi, used for centuries in traditional medicine for their stress-relieving benefits.  GOODMIND™ is designed to nourish the mind and elevate everyday life by enhancing mental capacity and the body’s ability to adapt to stress. Available for sale online, in select retail outlets and premium coffee stores in South Africa, GOODMIND™ will be available in international markets in 2022.

The Functional Mushroom Market Report states that a number of scientific studies have confirmed the ability of functional mushrooms, and mushroom-derived supplements, to increase the effectiveness of both innate and adaptive immune systems. It also indicates that the rise in popularity in new markets is being driven by an increased demand for natural solutions to health as well as the growing acceptance of mushrooms as a ‘superfood’.

“While functional mushrooms have been around for centuries they are seen as a relatively ‘new category’ in the West, says Tony. “However, according to the Chinese Pharmacopoeia, functional mushrooms have been an integral part of Chinese medicine for over 2,000 years and are widely used as a tonic for vitality, endurance, and to support a healthy immune system.”

The term ‘Functional Mushrooms’ refers to specific and mostly rare mushrooms, which are packed with antioxidants and nutritional value; Functional Mushrooms differ to psychedelic ‘magic mushrooms’ in that they are completely non-psychedelic mushrooms. Some of the most popular functional mushrooms available are Reishi, Cordyceps, Shiitake, Turkey Tail, Tremella and Chaga. According to the Research and Markets report, sales of supplements containing Reishi increased 13.5% year-on-year and Cordyceps increased 8.2%. GOODMIND™ is a blend of three different mushrooms Reishi, Cordyceps and Lion’s Mane.

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The future of psychedelics, according to an expert

Where the Psychedelic Revolution Is Headed, According to the Guy Who (Arguably) Started It

Rick Doblin, a pioneer psychedelic researcher and activist, made some interesting predictions about the future of psychedelics in the US.

Here’s where he thinks the sector is headed:

  • MDMA will be FDA-approved by the end of 2023, with psilocybin following a year or two after.
  • By 2023 or 2024, there will be 6000+ psychedelic therapy clinics (there are currently about 1000). Every town with a hospice center will have enough demand for a psychedelic clinic.
  • By 2030, one million MDMA therapy sessions will have been administered by 25,000 trained therapists.
  • A licensed legalization model could be implemented around 2035 in which patients can earn a license to use psychedelics outside the clinic once undergoing a supervised session.

Doblin is hopeful that the tremendous impacts on mental health will result in a spiritualized society that “has finally come to the point of embracing global thinking, global humanity, and dealt with economic inequity.”

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Are shroom stocks about to blow up?

Elon Musk Acknowledges Therapeutic Potential Of Psychedelic Drugs: Will This Impact The Markets?

Elon Musk has been known to have a major influence on the stock market, with his Tweets causing Bitcoin and Dogecoin to skyrocket almost instantaneously. His latest interview could take shroom stocks to the moon 😉

In an interview with Ronan Levy, co-founder of Field Trip Health (FTRP), Musk was asked what role he thinks psychedelics have in “addressing some of the more destructive tendencies of humanity.”

Elon replied, “I think, generally, people should be open to psychedelics. A lot of people making laws are kind of from a different era, so I think, as the new generation gets into political power, I think we will see greater receptivity to the benefits of psychedelics.”

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Another stock to keep on your radar

Field Trip Stock Could Climb 300% In One Year

It was a big week for this Toronto company!

Last week, HC WainWright gave Field Trip Health (FTRP) a Buy rating, predicting that it will increase from $4.50 to $20 per share in just one year!

The firm noted that Field Trip’s propriety psilocybin analog, FT-104 could soon have some of the strongest intellectual property protection in the sector.

Since the analysis, the company has opened Europe’s first psychedelic therapy healthcare facility in Amsterdam, expanding its network of clinics to six facilities.

Then on Thursday, Field Trip announced that its preparing for Phase I clinical trials, which will commence early next year, to investigate FT-104 in treating post-partum depression and treatment resistant depression.

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300% growth?

This Psychedelics Stock Could Grow 300% In One Year

Experts predict major growth for this psychedelics stock.

Last week, the financial services firm Cantor Fitzgerald initiated coverage of Cybin Inc. (CYBN).

The stock was just $2.25 per share when the firm gave Cybin a 12-month price target of $9  – a 300% margin.

The analysts believe that Cybin’s proprietary formulation for treating depression which is in phase 2 clinical trials, has great potential for scalability. They explain that Cybin has enough capital to advance its other formulations for anxiety and alcohol use disorder through clinical trials as well.

 

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Mydecine’s psychedelic compound shows “blockbuster potential”, according to Roth Capital Partners

Roth says Mydecine Innovations has blockbuster potential with its MYCO-001 psychedelic therapy as it initiates coverage

Roth Capital Partners, a private investment bank in California, gave Mydecine Innovations Group Inc. (MYCO) a ‘buy’ rating with a C$3  target based on the “blockbuster potential” of its pyschedelic compound, MYCO-001. Mydecine expects to complete advanced clinical trials for PTSD and smoking cessation within the next 18-24 months. Based on this timeline, Roth believes that MYCO-001 could be introduced to the US market for smoking cessation in 2026, and could reach $2.5 billion in sales by 2031 by capturing just 0.5% market. Roth predicts that MYCO-001 will take over 20% of the market for PTSD treatment by 2032, reaching $3 billion in sales.

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Cybin targets general and social anxiety with new proprietary pyschedelic molecule

Cybin Selects Anxiety Disorder Indications for Proprietary Psychedelic Molecule CYB004

Cybin Inc. (CYBN) announced that their new psychedelic molecule called CYB004 will target social anxiety disorder (SAD) and general anxiety disorder (GAD). Cybin’s Chief Clinical Officer says that anxiety disorders have increased three-fold during the COVID-19 pandemic, increasing the global market size to an estimated US$1.15B for SAD and US$2.99B for GAD. Cybin hopes to tap into this market, as many patients do not respond well to current anxiety medications such as SSRIs and SNRIs.

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Core One Labs awaits patent for cost-effective biosynthetic psilocybin production system

Core One Labs’ Biosynthesized Psilocybin Provisional Patent Imminent

Vocan Biotechnologies Inc., a subsidiary of Core One Labs Inc. (COOL) is days away from receiving a patent for its biosynthetic psilocybin production system, which is more efficient and significantly cheaper than conventional methods of extracting psilocybin. The proprietary system aims to produce a reliable product that is consistent in quality and concentration while remaining comparable to naturally occurring psilocybin. Core One believes that there is a wide appeal for biosynthetic production as the psychedelics market grows, as “the need for a steady and consistent supply chain will also increase”.

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Shark Tank’s Kevin O’Leary says investing in psychedelics has far more potential than cannabis

7 Investment Tips from Kevin O’Leary, Who Says There’s More Money In Psychedelics Than There Is In Cannabis

At a CNBC healthcare summit, Shark Tank venture capitalist Kevin O’Leary said that “the potential of psychedelics far exceeds the potential of cannabis”. O’Leary believes that the size and scale of the psychedelics market is appealing because of the lack of advancements in mental health treatment over the past several decades. O’Leary currently invests in MindMed and Compass Pathways, and advises investors to hold stakes in companies with multiple clinical trials.

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The psychedelic drugs market is expected to reach $10.75 billion USD by 2027, growing at a 12.36% CAGR

Psychedelic Drugs Market Size Is Projected To Reach $10.75 Billion By 2027

A recent report from Research And Markets predicts that the psychedelic drugs market will grow at a 12.36% compound annual growth rate from 2021 to 2027, reaching $10.75 billion USD by 2027. The rapid acceptance of the medical applications of psychedelics in the mental health sector fuels the growth of the market.

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