Cordyceps Militaris Market Size, Share, Growth, and Industry Analysis, By Type (Dried and Wet), By Application (Food and Beverages, Pharmaceutical and Cosmetics), By Formulation (Tablet, Liquid and Powder) and Regional Insights and Forecast to 2031

Updated On: 22 April 2024

CORDYCEPS MILITARIS MARKET REPORT OVERVIEW

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The global cordyceps militaris market size was USD 6859 million in 2021 and the market is projected to touch USD 12564.96 million by 2031, at CAGR of 6.24% during the forecast period.

The parasitic fungus species Cordyceps militaris, thriving on deceased caterpillars, offers numerous potential health benefits. It has been utilized in treating 21 illnesses, including low immunity and high blood pressure, in traditional Chinese and Tibetan medicine. This fungus induces the gradual degradation and mummification of the living larva in the soil, resulting in the emergence of a cordyceps stem from the caterpillar's head. Revered in ancient Chinese medicine for its potent healing properties, cordyceps militaris is integral to medicinal tonic solutions and finds applications in anti-diabetic, anti-inflammatory, and anti-tumor medications.

Cordyceps is currently undergoing rapid commercialization, propelling market growth. Pharmaceutical firms are intensifying research and development efforts to expand its applications. The emergence of health-improving secondary metabolites in various fungi is expected to drive market growth. The sustained demand for herbal medications positions cordyceps for ongoing revenue growth, highlighting its relevance in modern healthcare. This is further complemented by the increasing demand for traditional medicines and the expanding utilization of mushrooms in medicinal contexts, creating significant market opportunities.

COVID-19 Impact: Market Grows With Demand But Faces Delivery Challenges Due To The Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The market for cordyceps militaris experienced growth alongside increased demand, driven by its applications in COVID-19 treatment. These fungi, serving as valuable tools in preventing and treating the virus, act as immunomodulation agents and reduce proinflammatory cytokines, lung fibrosis, enhance hypoxia tolerance, and inhibit viral enzymes. However, challenges in the transportation system, exacerbated by the pandemic, caused delays in delivering essential raw materials for producing cordyceps-related items. This impact has been felt in the identification of diseases beyond COVID-19.

LATEST TRENDS

"Emphasizing natural solutions and holistic health trends drives the market"

Cordyceps Militaris has experienced a notable surge in popularity, propelled by its perceived health benefits, notably in the context of the COVID-19 pandemic. The heightened awareness of its potential immune-boosting properties has significantly fueled the growing demand in the market. As consumers increasingly prioritize natural remedies, this fungus has gained prominence for its potential role in supporting overall health, particularly immune function during the ongoing health crisis. The pandemic has underscored the significance of health and wellness, driving individuals to explore holistic approaches. Cordyceps Militaris, with its perceived health advantages, has become a focal point in meeting this demand, reflecting a broader trend toward natural solutions and preventive healthcare strategies in the wake of the pandemic.

CORDYCEPS MILITARIS MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into Dried and Wet.

Dried Cordyceps Militaris undergoes processing and preservation, making it a common choice in dietary supplements and traditional medicine. In contrast, Wet Cordyceps Militaris, in its natural state, is employed for specific applications. The dried variant offers convenience, suitable for various consumer preferences, while the wet form maintains the fungus's natural properties, attracting those seeking its unaltered benefits in holistic wellness and medicinal contexts. Both types serve distinct purposes, accommodating a broad spectrum of consumer needs.

• By Application

Based on application the global market can be categorized into Food and Beverages, Pharmaceutical and Cosmetics.

In the food and beverage sector, it is harnessed for its potential health benefits, introducing wellness elements into various products. The pharmaceutical industry delves into its medicinal properties for potential therapeutic uses. Simultaneously, the cosmetics industry integrates Cordyceps Militaris into skincare formulations, capitalizing on its reputed skincare advantages. Each sector benefits from the unique attributes of Cordyceps Militaris, contributing to its versatile presence and widespread application across diverse market segments.

• By Formulation

Based on formulation the global market can be categorized into Tablet, Liquid and Powder.

Tablets offer a convenient supplement consumption method, ideal for those seeking ease of use. Liquid formulations ensure quick absorption, appealing to consumers desiring rapid effects. The versatility of powders allows seamless incorporation into diverse products, accommodating varied preferences. Each formulation caters to specific consumer needs, enhancing the widespread presence of Cordyceps Militaris. This adaptability meets the diverse demands of health-conscious consumers across various industries, contributing to its market ubiquity.

DRIVING FACTORS

"Rising Prominence Of Traditional Chinese Medicine To Increase Market Demand"

The growing prevalence of traditional Chinese medicine within the medical community is increasingly evident, fostering global cordyceps militaris market growth. This shift is particularly noteworthy, as the fungus deeply ingrained in traditional Chinese medicine for centuries. Its increasing recognition and utilization in mainstream healthcare indicate a broader acceptance of holistic and natural remedies. As the medical community embraces these traditional approaches, market experiences a surge in demand, reflecting an inclination toward herbal remedies. This evolving trend underscores the fungus's relevance in meeting the changing healthcare preferences of a diverse and expanding audience.

"Increasing Incidence Of Chronic Illnesses Is Expected To Boost The Market "

The prevalence of chronic diseases has surged in recent decades, with a significant increase in cardiovascular diseases, cancer, respiratory illnesses, and diabetes. Concurrently, the growing demand for Chinese herbs in primary healthcare is expected to contribute to the market's advancement. Notably, the demand for cordyceps herbal extracts has experienced a substantial upswing, driven by their incorporation into dietary supplements addressing respiratory function, sports performance, physical fitness, and sexual health. The escalating epidemic of chronic diseases, including diabetes, cardiovascular ailments, respiratory issues, and cancer, is projected to propel the adoption of preventive medical products containing cordyceps militaris species, fostering its sustained growth.

RESTRAINING FACTORS

"High Prices To Hinder Market Growth And Limit Accessibility"

The market expansion of cordyceps, a caterpillar fungus, faces constraints due to its elevated pricing. Embracing such costly traditional Chinese medicine is limited in developing regions particularly Africa and Latin America. The exorbitant cost hinders the widespread use of wild cordyceps sinensis in many cordyceps militaris and other supplements. The prohibitive price point presents a challenge, particularly in regions where access to expensive healthcare is a significant concern. Developing nations encounter barriers to incorporating these premium traditional remedies into mainstream healthcare practices, impeding the broader accessibility and utilization of cordyceps supplements. Addressing the pricing issue becomes crucial for unlocking the potential benefits of cordyceps in diverse markets and ensuring equitable access to its health advantages.

CORDYCEPS MILITARIS MARKET REGIONAL INSIGHTS

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"North America Dominates The Market By Showcasing Robust Market Leadership"

North America has emerged as the most dominant region in the global cordyceps militaris market share, attributed to the rise in disposable income and growing health consciousness. The surge in demand for improved healthcare services further bolsters this dominance, while increased governmental investments in healthcare development also play a significant role. The region's dominance is not solely driven by healthcare initiatives but also by the substantial presence of key industry players, a surge in chronic conditions, and a notable increase in research activities. This comprehensive outlook positions North America as a frontrunner, showcasing a harmonious interplay of economic factors, health awareness, and strategic investments that contribute to its dominance in the cordyceps sinensis market.

KEY INDUSTRY PLAYERS

"Key players drive the market through cultivation, research, and product enhancement initiatives"

The key players in the cordyceps militaris market, although diverse, exhibit commonalities in their engagement with biotechnology and cordyceps-related products. These companies specialize in the cultivation, processing, and commercialization of market, catering to applications in pharmaceuticals, dietary supplements, and herbal medicine. A notable focus on research and development is evident, indicating a shared goal to enhance the quality and efficacy of their cordyceps-derived offerings. Geographically distributed across different regions in Asia Pacific, their strategic presence aligns with areas conducive to cordyceps cultivation. Collectively, these key players showcase a shared commitment to advancing cordyceps-related biotechnology and product development, underscoring their significance in shaping the market landscape.

List of Market Players Profiled

• Anshan Huayu Biotech Co. (China)
• Beijing Jingdu Cordyceps Biotech Co. Ltd. (China)
• Jiangmen Honghao Bioscience Co. Ltd. (China)
• Dalian Lanshi Cordyceps Biotech Co. Ltd. (China)
• Hebei Cangzhou Cordyceps Co. Ltd. (China)
• Dalong Biotechnology Co. Ltd. (China)
• Liaoning Limin Cordyceps Co. Ltd. (China)
• Nutrastar International Inc. (China)
• Sunrise Nutrachem Group Ltd (China)
• Henan Huazhong Biotech Co. Ltd. (China)

INDUSTRIAL DEVELOPMENT

November 2023: Cordyceps, a fungal genus with around 600 species, boasts a 300-year history in traditional Chinese medicine. The growing interest in natural remedies prompts increased scrutiny of cordyceps and other medicinal mushrooms for potential benefits. Notably, Cordyceps sinensis and Cordyceps militaris, the latter commonly used in supplements, exhibit promising antitumor, anti-aging, and anti-inflammatory properties in animal and lab studies. While human clinical trials remain limited, the demand for top cordyceps supplements is rising, with products such as Real Mushrooms capsules and powder, FOCL gummies, Pure Essence Labs for athletes, and Enerhealth Botanicals for coffee gaining recognition.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.