Farmmi continues to build sales growth with latest win
Farmmi, Inc. ("Farmmi" or the "Company"), an agriculture products supplier in China, announced its subsidiary Zhejiang Forest Food Co., Ltd., won a new product order from a long-term customer for its popular dried black fungus on June 25. The customer will export Farmmi's products to Vancouver, Canada.
Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "Our level of customer engagements continues to expand as we add further value with our leading packaging and logistics to ensure product quality, flavor and minimize costly waste. We are focused on accelerating Farmmi's revenue growth and overall expansion as we leverage our large scale to serve higher demand levels worldwide. We expect our accelerated growth will continue, led by catalysts from health and wellness, professional and aspiring cooks, and an expansion of the overall consumption of mushrooms."
Black fungus mushrooms have also been used in traditional Chinese medicine for centuries to help prevent heart disease, with other benefits including liver protection, lowering cholesterol, boosting gut health and reducing inflammation. Also known as Cloud Ear or Tree Ear fungus, the protein rich mushrooms are high in fiber, mineral-dense with manganese, selenium, iron and more. Black fungus is also an excellent source of riboflavin and niacin and is high in antioxidants.
According to Research and Markets, the worldwide mushroom market is expected to reach a value of US$86.6 billion by 2025, registering a CAGR of 8.3% during 2020-2025. In addition to the health benefits, various advancements in mushroom packaging technologies are acting as another major growth-inducing factor. Manufacturers are developing humidity-regulating packaging materials that prevent water condensation on mushrooms, thus prolonging their shelf-life. Other factors, including the increasing consumption of organic food products, rapid urbanization and rising consumer expenditure capacities, are projected to drive the market further.
