Global Cordyceps Militaris Market Size Grows at a Staggering CAGR of 10.25%

Introduction

Cordyceps militaris, a type species of the genus Cordyceps and a member of the Cordycipitaceae family, is a fungus. It was originally designated Clavaria militaris by Carl Linnaeus in 1753. The number of cordyceps fungal species is in the hundreds. Cordyceps militaris is notable for its association with insects and dispersal mechanism, in addition to its utilization in contemporary pharmaceuticals and traditional Chinese medicine. The fungal growth generates club-shaped, orange-red fruiting bodies that vary in height from 1 to 8 cm, originating from decomposing underground pupae.

Market Dynamics

The increasing incidence of Chronic Illnesses Drives the Global Market

Globally, the incidence of diseases such as cardiovascular disease, cancer, and diabetes, among others, is increasing. The World Heart Federation (WHF) recently published a report indicating that cardiovascular disease (CVD)-related fatalities escalated globally from 12.1 million in 1990 to 20.5 million in 2021. A wide range of disorders are treated with the fungus Cordyceps militaris. As an additional consequence of its anti-tumor, anti-diabetic, and anti-inflammatory properties, cordyceps is utilized to formulate tonic solutions. Therefore, the beneficial effects of Cordyceps militaris in treating these ailments are anticipated to fuel market growth over the forecast period.

Increasing Research on Cordyceps Militaris Creates Tremendous Opportunities

Currently, investigations and research are underway to determine the potential benefits and efficacy of Cordyceps militaris as a preventative measure against the development of additional disorders. These elements will likely create a market opportunity. To illustrate, a publication from August 2023 titled "Early Trends to Show the Efficacy of Cordyceps militaris in Mild to Moderate COVID Inflammation" investigates the effectiveness and practicality of Cordyceps capsules when administered alongside conventional treatment for patients with mild to moderate symptoms of COVID-19 infection.

The research study enrolled 65 patients, of whom 33 were allocated to the Cordyceps group and 32 were designated to the placebo group. The following recovery rates were seen in 58 evaluable patients: 33 on day five, 49 on day ten, and 58 on days sixteen and thirty. Consistently, patients' recovery rate rose from 56.9% on day 5 to 100% on day 30. The Cordyceps group demonstrated a shorter time to clinical recovery, both in general and specifically for moderate disease, compared to the placebo group. Therefore, cordyceps was demonstrated to be a risk-free immunological adjuvant for case-setting COVID-19.

Regional Analysis

The North American market is primarily bolstered by increased chronic diseases, health consciousness, and demand for natural and herbal remedies. Diabetic individuals comprise approximately 11 percent of the total U.S. population, or more than 34 million individuals, according to a report published by the CDC in 2020. Furthermore, diabetes was the seventh most prevalent cause of mortality in the United States in 2019, as reported by the American Diabetes Association. Moreover, according to the same source, it is projected that approximately 1.5 million individuals in the United States are diagnosed with diabetes each year.

Moreover, to completely exploit Cordyceps' potential, the major players in North America concentrate on introducing new products containing the substance. To illustrate, a nootropics brand called TroomyTM, based in Southern California, unveiled its highly anticipated assortment of adaptogenic mushroom gummies in October 2022. Crafted from premium, triple-extracted mushrooms such as Reishi, Lion's Mane, and Cordyceps, TroomyTM Mushroom Gummies support many vital health functions and aid in the redefinition of daily living. It is anticipated that introducing such products will stimulate the expansion of the regional market.

Key Highlights

• The global cordyceps militaris market size is estimated to grow at a CAGR of 10.25% during the forecast period (2023–2031).
• Based on type, the global Cordyceps militaris market is divided into natural and artificial Cordyceps militaris.
• Based on application, the global Cordyceps militaris market is bifurcated into pharmaceuticals, food and beverages, and cosmetics.
• Based on distribution channels, the global Cordyceps militaris market is divided into online sales, drug stores, and other distribution channels.

 

Competitive Players

1. Nutra Green Biotechnology Co., Ltd.
2. Xi'an Saina Biological Technology Co., Ltd.
3. Dalong Biotechnology Co., Ltd.
4. Health Choice Limited
5. Sunrise Nutrachem Group Ltd.
6. Ojas Farms
7. Golden Vital Agro Herbal Private Limited
8. NU SKIN ENTERPRISES, INC
9. Quyuan Sunnycare Inc.
10. The Lubrizol Corporation
11. Naturalin Bio-Resources Co., Ltd.
12. Shanghai Kangzhou Fungi Extract Co., Ltd.
13. MycoForest
14. Awshad
15. Pournami Agritech

Recent Developments

• February 2024- Odyssey secured USD 6 million in funding for their line of energy drinks infused with mushrooms. The brand produces pre-made beverages that are infused with Lions Mane and Cordyceps mushrooms in order to improve cognitive performance.

Segmentation

1. By Type
   1. Artificial Cordyceps militaris
   2. Natural Cordyceps militaris
2. By Application
   1. Food and Beverages
   2. Pharmaceutical
   3. Cosmetics
3. By Distribution channel
   1. Online Sales
   2. Drug Store
   3. Others