Cordyceps refers to a genus of fungus that grows naturally on insects and is commonly found in China, Tibet, Nepal and Bhutan. Cordyceps sinensis and militaris are the two most well known species belonging to this genus. They are commonly used as ingredients in functional foods and dietary supplements due to their various health benefits. These fungi are commonly formulated into capsules, tablets, powder extracts and tonics. The active compounds present in cordyceps species such as cordycepin, adenosine and polysaccharides have antioxidant, anti-inflammatory and immune enhancing properties. Thus, they are commonly used for conditions like fatigue, aging, respiratory disorders, sexual health among others.

The global Cordyceps Sinensis And Militaris Extract Market is estimated to be valued at US$ 1,072.5 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The increasing usage of cordyceps extracts in nutraceuticals is a key driver propelling the growth of this market. According to data by Euromonitor International, global nutraceutical sales reached US$ 432 Bn in 2020 and are expected to grow further at 4-7% annually between 2020 to 2025. Cordyceps extracts offers various health benefits and are commonly formulated into dietary supplements for general health, endurance, immunity etc. Additionally, the ability of cordyceps to boost energy levels and physical stamina has increased its usage in functional foods and beverages. The growing health-conscious consumer base and increasing inclination towards preventive healthcare is further expected to drive the demand for products containing cordyceps extracts over the forecast period.

SWOT Analysis
Strength: Cordyceps Sinensis and Militaris Extract market has high demand from various end-use industries such as dietary supplements, functional food and beverages which is driving its market growth. It provides various health benefits such as increased energy, enhanced athletic performance, and immunity booster which is increasing its popularity worldwide. Production of cordyceps through cultivation is helping in stabilizing its supply globally.

Weakness: High price of the cordyceps extracts due to the expensive and labor-intensive cultivation process is a major challenge for its market. Authentication and standardization of cordyceps product quality are the other issues being faced by the industry.

Opportunity: Increasing awareness about the health benefits of cordyceps extracts among consumers is creating new growth opportunities. Rising demand for natural and herbal medicines especially after COVID-19 pandemic is also fueling the market growth. Growing nutraceutical industry in emerging nations provides huge market potential.

Threats: Substitution threat from synthetic herbs and mushroom extracts. Climatic changes can impact wild cordyceps habitats.

Key Takeaways

The global Cordyceps Sinensis And Militaris Extract market is expected to witness high growth. The market size is projected to reach US$ 1,072.5 Mn by 2024 expanding at a CAGR of around 10% during the forecast period of 2023 to 2030. Increasing health consciousness along with rising demand for natural medicines is driving the market growth globally.

Regional analysis: The Asia Pacific dominated the global market in 2022 and is projected to continue its dominance during the forecast period. Countries like China, Japan, and South Korea are the major markets in the region. Easy availability and traditional use of cordyceps make APAC the fastest growing regional market. North America is also expected to offer lucrative growth opportunities propelled by increasing expenditure on functional foods and dietary supplements in the U.S. and Canada.

Key players operating in the Cordyceps Sinensis And Militaris Extract market are Lubrizol, Nutragreenlife Biotechnology Co., Ltd, Hybrid Herbs, Amazing Nutrition, and BioOrganic Concepts. Cordyceps extracts produced through fermentation or cultivation are gaining more popularity compared to wild-harvested products due to sustainable and consistent supply. Companies are also focusing on new product launches