Cordyceps sinensis and militaris extract are mycelial fungi with rich nutritional properties that provide various health benefits. Some of the key benefits of cordyceps extract include enhanced immune function, improved athletic performance, antioxidant properties, anti-aging effects, and ability to improve blood circulation. It is commonly used in dietary supplements, functional foods, and medicinal products. The rising awareness about the health benefits of cordyceps extract among consumers is driving the demand for associated products. Innovation in terms of new product forms, including capsules, powders, and liquid extracts is also fueling the market growth. The Global Cordyceps Sinensis And Militaris Extract Market is estimated to be valued at US$ 1,072.5 Mn in 2024 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the Cordyceps Sinensis And Militaris Extract are Lubrizol Corporation, Naturalin bio-resources co. Ltd., NU SKIN ENTERPRISES INC., Quyuan sunnycare Inc., Shanghai Kangzhou Fungi Extract Co. Ltd., Xi’an Saina Biological Technology Co. Ltd. (Herbsino), Dalong Biotechnology Co. Ltd., Health Choice Limited, Nutra Green Biotechnology Co. Ltd, Sunrise Nutrachem Group Ltd., Ojas Farms, Golden Vital Agro Herbal Private Limited, MycoForest. The increasing popularity of dietary supplements owing to rising health consciousness has opened new opportunities for players in the market. Technological advancements in extraction methods have improved product quality and yields. This has encouraged R&D activities focused on innovative product applications.
Market Drivers
The growing geriatric population globally prone to age-related diseases and conditions is a key driver for the cordyceps extract market. Elderly individuals are more inclined to utilize supplements containing cordyceps to boost immunity, reduce inflammation, and enhance overall well-being. Additionally, rising awareness about the various healing properties of cordyceps among consumers is also fueling an increased demand for associated products. Market players have been undertaking various marketing initiatives to promote the benefits of cordyceps, which has further strengthened market growth drivers.
Current Challenges in Cordyceps Sinensis and Militaris Extract Market:
With the Cordyceps Sinensis and Militaris Extract market witnessing steady growth over the past few years, few challenges have also emerged for the industry players. One of the major challenges is maintaining consistency in quality and demand-supply gap. As Cordyceps Sinensis is found only at high altitude locations and harvests are seasonal, it is difficult to meet the growing demand through regular supplies. This leads to fluctuations in prices. Secondly, improper processing and harvesting techniques can negatively impact the nutrients and compounds in the fungus. Standardization of production practices is needed to ensure quality and efficacy. Additionally, lack of scientific evidence and clinical validation is restricting its adoption in pharmaceutical applications. Further research is required to prove health benefits and develop new application areas.
SWOT Analysis
Strength: Growing popularity and demand for natural health products fuels market growth. Reported health benefits of Cordyceps such as increased energy, libido and improved lung function drive consumer demand.
Weakness: Limited natural sources and seasonal harvests create supply constraints. Heavy dependence on wild collection puts sustainability at risk.
Opportunity: Development of grower-harvester networks and cultivation techniques can enhance year-round availability. Scope for new product development in nutraceutical, pharmaceutical and functional food segments.
Threats: Intense competition from alternative health supplements threatens market share. Stringent regulations over commercialization may restrict new applications.
Geographical Regions
The Cordyceps Sinensis and Militaris Extract market in North America currently holds around 33% of the global market share in terms of value. This is primarily due to increased awareness among consumers regarding the health benefits of functional foods and herbal extracts. The Asia Pacific region accounts for another 30% of the total market value led by China, Japan and South Korea. These countries have a long tradition of using Cordyceps in traditional medicine systems like traditional Chinese medicine.
Fastest Growing Region
The Asia Pacific region is projected to witness the highest growth in the Cordyceps Sinensis and Militaris Extract market over the forecast period. This growth can be attributed to rising disposable incomes, growing health consciousness and increasing spending on herbal supplements in emerging economies like India and Southeast Asian countries. Additionally, initiatives by governments in the region to promote traditional medicines will further aid the uptake of Cordyceps extracts. Population growth, accelerated economic development and evolving lifestyles are expected to drive above-average demand growth from the Asia Pacific region through 2030.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
