Home Healthcare IT Cordyceps Militaris Market Size & Growth Analysis | 2032

Cordyceps Militaris Market Size, Share & Trends Analysis Report By Type (Artificial Cordyceps militaris, Natural Cordyceps militaris), By Application (Food and Beverages, Pharmaceutical, Cosmetics), By Distribution channel (Online Sales, Drug Store, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRHI55560DR
Last Updated : 01,Aug 2024
Author : Straits Research
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Market Overview

The global cordyceps militaris market size was valued at USD 1.01 billion in 2023. It is estimated to reach USD 2.99 billion by 2032, growing at a CAGR of 10.5% during the forecast period (2024–2032). People around the world nowadays are more focused on their health and well-being than ever before. This has led to an inclination towards natural elements like herbal medicines to treat illnesses, which is expected to boost the global cordyceps militaris market growth. Moreover, the surge in the global burden of chronic diseases is further expected to increase the demand for cordyceps militaris.

The fungus Cordyceps militaris is the type species of the genus Cordyceps and a member of the Cordycipitaceae family. In 1753, Carl Linnaeus initially designated it as Clavaria militaris. Hundreds of species of cordyceps fungi exist. Cordyceps militaris is distinguished by its application in modern pharmaceuticals and traditional Chinese medicine, as well as by its association with insects and dispersal mechanisms.

The fungus produces club-shaped, orange-red fruiting bodies ranging from 1 to 8 cm from decomposing subterranean pupae. The stroma envelops the club, and it is through the perithecia, the fruit bodies, that they are inserted. The surface displays indications of slight puncturing. The fungal tissue exhibits a faint orange-to-colorless hue. Long-filiform spores that are frequently septated and exhibit a silky, hyaline appearance are observed. They decompose to maturity in subpores measuring 3–7 m by 1–1.2 m. The asci are cylindrical and lengthy.

Highlights

  • Natural dominates the type segment.
  • Pharmaceuticals dominate the application segment.
  • Online sales dominate the distribution channels segment
  • North America is the highest shareholder in the global market

Market Dynamics

Global Cordyceps Militaris Market Drivers:

Increasing Incidence of Chronic Illnesses

The prevalence of ailments, including cancer, diabetes, and cardiovascular disease, among others, is growing across the world. For instance, cardiovascular disease (CVD)-)-related fatalities increased worldwide from 12.1 million in 1990 to 20.5 million in 2021, as stated in a recent report by the World Heart Federation (WHF). Cardiovascular disease (CVD) emerged as the primary cause of mortality on a global scale in 2021, affecting four out of every five individuals residing in low- and middle-income countries (LMICs).

Cordyceps militaris, a fungus, is employed to treat such ailments. Cordyceps is utilized in the formulation of tonic solutions owing to its anti-tumor, anti-diabetic, and anti-inflammatory properties. Thus, the advantageous effects of Cordyceps militaris in treating these diseases are anticipated to propel market expansion throughout the forecast period.

Growing Demand for Herbal Medicine

The utilization of herbal medicines and phytonutrients, often known as nutraceuticals, is experiencing significant growth on a global scale. Increasingly, individuals are turning to these products as a means of addressing diverse health issues within various national healthcare contexts. Over the previous decade, there has been a notable increase in the widespread acceptability and public fascination surrounding natural medicines observed in developing and developed nations.

According to estimates published in an NIH article, a substantial proportion of the global population, approximately four billion individuals, or 80% of the world's inhabitants, residing in the world, depend on herbal medicinal products as their main healthcare resource. The utilization of herbs in traditional medical practices is considered an essential component of the cultural fabric within these communities. Moreover, the demand for herbal treatments is rising due to their minimal occurrence of negative effects. These factors drive the use of Cordyceps militaris in developing medicines and nutraceuticals, thereby boosting market growth. 

Global Cordyceps Militaris Market Restraint:

Potential Drawbacks of Cordyceps militaris

Cordyceps Militaris' potential drawbacks significantly impact market growth, with safety concerns and potential side effects impeding widespread adoption. According to a study in the *Journal of Dietary Supplements*, some individuals may experience nausea, dry mouth, and diarrhea after consuming Cordyceps Militaris supplements. Additionally, contamination and adulteration risks are notable, with a University of Guelph study revealing that approximately 25% of Cordyceps Militaris products tested contained undeclared ingredients or contaminants.

The high cultivation and production costs also pose barriers, with the global market valued at $1.2 billion in 2021 and prices ranging from $10 to $30 per gram. Moreover, a review in the *Journal of Ethnopharmacology* indicated that Cordyceps Militaris might interact with medications for diabetes, autoimmune diseases, and blood thinners. To address these issues, regulatory bodies, and industry associations are establishing stricter quality control measures and standardizing production and labeling while ongoing research seeks to understand side effects, drug interactions, and optimal dosages.  

Global Cordyceps Militaris Market Opportunities:

Increasing Research on Cordyceps militaris

Ongoing investigations and research are being undertaken to ascertain the potential advantages and effectiveness of Cordyceps militaris as a preventive measure against further ailments. These factors will likely present a market opportunity. For instance, an August 2023 publication entitled "Early Trends to Show the Efficacy of Cordyceps militaris in Mild to Moderate COVID Inflammation" examines the efficacy and utility of Cordyceps capsules when used in conjunction with standard treatment for COVID-19 infection in patients who are mildly symptomatic to moderately infected.

In total, 65 patients were enrolled in the research; 33 were assigned to the cordyceps group and 32 to the placebo group. The recovery rates for 58 evaluable patients were as follows: 33 on day 5, 49 on day 10, and 58 on days 16 and 30. Patients' recovery rates increased consistently from 56.9% on day 5 to 100% on day 30. In contrast to the placebo group, the Cordyceps group exhibited a reduced time to clinical recovery, both overall and specifically for mild disease. In the case of moderate disease, no significant disparity was observed in the duration required for recovery. Thus, cordyceps proved to be a safe immunological adjuvant for mild-to-moderate COVID-19.

Study Period 2020-2032 CAGR 10.5%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD 1.01 billion
Forecast Year 2032 Forecast Year Market Size USD 2.99 billion
Largest Market North America Fastest Growing Market Asia-Pacific
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Regional Analysis

Based on region, the global cordyceps militaris market share is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. 

North America Dominates the Global Market

The North American region is estimated to hold the largest market share over the forecast period. The North American region is primarily boosted by the surge in chronic ailments, growing health consciousness, and the soaring demand for natural and herbal medications. According to a CDC report published in 2020, diabetes affects over 34 million Americans or approximately 11 percent of the total population in the U.S. Similarly, according to the American Diabetes Association (ADA), in 2019, diabetes ranked as the seventh most prevalent cause of mortality in the United States. Moreover, as shown by the same source, approximately 1.5 million individuals are diagnosed with diabetes each year in the United States.

Moreover, the key players in the North American region focus on introducing new products using cordyceps to integrate their potential. For instance, in October 2022, TroomyTM, a nootropics brand headquartered in Southern California, introduced its eagerly awaited collection of adaptogenic mushroom gummies. Crafted with premium, triple-extracted mushrooms like Reishi, Lion's Mane, and Cordyceps, TroomyTM Mushroom Gummies were intentionally designed to assist in redefining daily life while bolstering numerous vital health functions. Consequently, such product launches are expected to boost regional market growth.

In Asia-Pacific, there has been a surge in research on Cordyceps to explore the benefits of the fungi in medicines and supplements. For instance, in November 2022, the German Patent Office was awarded a patent for a research study on synthesizing gold nanoparticles using Cordyceps militaris. These nanoparticles have various beneficial properties, including antimicrobial, anti-diabetic, and antioxidant effects. The research was conducted at the DBT-Government of India Technology Incubation Centre (Department of Biotechnology) at Bodoland University in Kokrajhar, Assam. The patent protection extends for eight years.

In addition, numerous start-ups are also entering the market. For instance, in March 2020, Pournami Agritech, an agritech start-up based in India, achieved the first successful harvest of Cordyceps Militaris, a rare medicinal mushroom called Himalayan Gold. This development marks a first of its kind in the state, as three years of research and study have resulted in the successful commercial cultivation of this miraculous mushroom, which has gained worldwide recognition for its use in healthy food supplements. All these factors are expected to expedite regional market expansion.

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Segmental Analysis

The global Cordyceps militaris market is segmented by type, application, and distribution channel.

Based on type, the global Cordyceps militaris market is divided into natural and artificial Cordyceps militaris.

Natural dominates the type segment. Natural Cordyceps militaris enter the market through wild harvesting, cultivation, and fermentation. Wild harvesting involves gathering Cordyceps militaris from high-altitude areas with specific climate conditions, resulting in higher quality and potency due to the unique environment. Cultivation takes place in controlled environments like greenhouses or indoor facilities, where the fungus is grown under specific conditions and nutrients. Fermentation involves growing the fungus on substrates such as rice or wheat before harvesting and processing. Natural Cordyceps militaris dominate the market for several reasons. First, they are perceived to be of superior quality and potency due to the natural growth conditions. Second, they hold significant traditional and cultural value, increasing demand and consumer preference. Lastly, natural Cordyceps militaris are often considered more sustainable and environmentally friendly than those produced through artificial methods, aligning with the growing trend towards eco-friendly and sustainable products.

Based on application, the global Cordyceps militaris market is bifurcated into pharmaceuticals, food and beverages, and cosmetics.

Pharmaceuticals dominate the application segment. In recent years, Cordyceps militaris has gained popularity in pharmacology and pharmaceutical research due to its potential health benefits and bioactive compounds. Cordyceps militaris contains various bioactive compounds like cordycepin, polysaccharides, and ergosterol, which exhibit antioxidant properties. Antioxidants can help combat oxidative stress, which is linked to numerous health issues, including cardiovascular diseases and neurodegenerative disorders. In addition, the anti-inflammatory properties of Cordyceps militaris have been studied, and these effects can be valuable in developing pharmaceuticals for conditions characterized by chronic inflammation, like arthritis or inflammatory bowel disease. Moreover, some research suggests that Cordyceps militaris extracts may possess antiviral and antibacterial properties. These properties could be harnessed in the development of antiviral drugs or antibiotics.

Based on distribution channels, the global Cordyceps militaris market is divided into online sales, drug stores, and other distribution channels.

Online sales dominate the distribution channels for Cordyceps militaris products, driven by the convenience and accessibility of e-commerce. Consumers prefer shopping from home, accessing a diverse range of products easily. Rising internet penetration and smartphone adoption further boost online sales. The global Cordyceps militaris market reflects this trend, with numerous companies investing in e-commerce platforms and digital marketing to reach broader audiences. For instance, KAS, a leader in microalgal innovation, raised $3 million to commercialize its natural algae astaxanthin, highlighting the growing demand for natural products through online channels. This investment underscores the shift towards digital sales strategies, capitalizing on the increasing consumer preference for natural and effective nutraceuticals. The strong online presence of Cordyceps militaris products indicates a significant transformation in distribution channels, making it a vital segment for market growth and consumer reach.

Market Size By Type

Market Size By Type
  • Artificial Cordyceps militaris
  • Natural Cordyceps militaris

  • List of key players in Cordyceps Militaris Market

    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

    Cordyceps Militaris Market Share of Key Players

    Cordyceps Militaris Market Share of Key Players

    Recent Developments


    Cordyceps Militaris Market Segmentations

    By Type (2020-2032)

    • Artificial Cordyceps militaris
    • Natural Cordyceps militaris

    By Application (2020-2032)

    • Food and Beverages
    • Pharmaceutical
    • Cosmetics

    By Distribution channel (2020-2032)

    • Online Sales
    • Drug Store
    • Others

    Frequently Asked Questions (FAQs)

    What is the estimated growth rate (CAGR) of the migraine with cordyceps militaris market?
    The market size is growing at a CAGR of 10.5% from 2024 to 2032.
    Increasing incidence of chronic illnesses is the key driver for the growth of this market.
    The key global market players are Nutra Green Biotechnology Co., Ltd., Xi'an Saina Biological Technology Co., Ltd., Dalong Biotechnology Co., Ltd., Health Choice Limited, Sunrise Nutrachem Group Ltd., Ojas Farms, Golden Vital Agro Herbal Private Limited, NU SKIN ENTERPRISES, INC, Quyuan sunnycare Inc., The Lubrizol Corporation, Naturalin bio-resources co., Ltd., Shanghai Kangzhou Fungi Extract Co., Ltd., MycoForest, Awshad, Pournami Agritech, and others.
    The market size are projected to reach USD 2.99 billion By 2032.


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