Global Cordyceps Militaris Market Size By Type (Dried, Wet), By Formulation (Tablet, Liquid, Powder), By Application (Food & Beverages, Pharmaceutical, Cosmetics), By Geographic Scope And Forecast

Cordyceps Militaris Market Size and Forecast

Cordyceps Militaris Market size was valued at USD 1.07 Billion in 2024 and is projected to reach USD 2.81 Billion by 2031, growing at a CAGR of 12.8% from 2024 to 2031.

• Cordyceps militaris is a parasitic fungus from the Cordycipitaceae family, best recognized for its ability to infect and develop on insect larvae. It is distinguished by its club-shaped, orange-to-crimson fruiting bodies, which emerge from the remnants of its host. Cordyceps militaris, a traditional Chinese medicine, is known for its anti-inflammatory, anti-tumor, and immune-boosting qualities.
• Cordycepin, the principal bioactive ingredient in this fungus, has been examined for its potential to improve athletic performance, reduce fatigue, and have antiviral properties, including against COVID-19. It is also considered a functional food and is utilized in dietary supplements for a variety of medicinal purposes.

Global Cordyceps Militaris Market Dynamics

The key market dynamics that are shaping the cordyceps militaris market include

Key Market Drivers

• Growing Demand for Natural Health Supplements The cordyceps militaris market is being driven by an increase in consumer demand for natural and organic health supplements. According to Market Research, the global dietary supplements market was valued at USD 159.22 billion in 2023 and is predicted to increase at a compound annual growth rate (CAGR) of 7.29% between 2024 and 2031. This expansion is largely due to the increased demand for natural and herbal goods, such as cordyceps militaris.
• Expanding Research on Medicinal Mushrooms The rising body of scientific research on the health advantages of medicinal mushrooms, such as cordyceps militaris, is driving market expansion. A study released in the National Center for Biotechnology Information (NCBI) database found that the number of scholarly papers on medicinal mushrooms increased by 730% between 1991 and 2015, with cordyceps species among the most investigated. This increasing research activity raises awareness and demand for cordyceps militaris products.
• Rising Prevalence of Chronic DiseasesThe rising prevalence of chronic diseases, such as diabetes and cardiovascular ailments, is driving up demand for cordyceps militaris due to its potential health advantages. According to the World Health Organization (WHO), the global prevalence of diabetes among individuals over 18 years old increased from 4.7% in 1980 to 8.5% in 2014. This trend is anticipated to continue, with the International Diabetes Federation estimating that the number of diabetics will reach 700 million by 2045, thereby fueling demand for natural therapies such as cordyceps militaris.

Key Challenges

• High Production Costs Cordyceps militaris cultivation and extraction incur high costs due to the particular environmental conditions required for growth, such as controlled humidity and temperature. This complexity results in higher final product pricing, which limits access to a larger consumer base and may impede market expansion, particularly in price-sensitive segments.
• Limited Awareness Among Consumers Despite the increased interest in natural health products, there is still a major lack of consumer understanding about the benefits of Cordyceps militaris. This lack of recognition limits market expansion since potential customers are uninformed of the product’s health benefits and are hesitant to try new supplements without first establishing trust or familiarity with it.

Key Trends

• Growing Demand for Natural Health Products Natural and functional foods are becoming more popular among consumers, owing to increased awareness of their health and wellness benefits. Cordyceps militaris is being recognized for its ability to boost immunological function, improve athletic performance, and promote general wellness, increasing demand for items containing this fungus, particularly nutritional supplements and health beverages.
• Technological Advancements in Cultivation The use of new technologies such as artificial intelligence and machine learning is changing the cultivation and production processes for cordyceps militaris. These improvements improve product quality and efficiency, allowing companies to optimize growing conditions and extraction procedures, resulting in superior product offerings and increased market competitiveness.
• Sustainability and Eco-Friendly Practices The cordyceps militaris market is experiencing an increase in environmentally sustainable and eco-friendly activities. Consumers are increasingly looking for items that are not just healthy but also manufactured using environmentally friendly ways. This trend is encouraging businesses to embrace more environmentally friendly cultivation and production processes, which align with customer values and increase brand loyalty.

Global Cordyceps Militaris Market Regional Analysis

Here is a more detailed regional analysis of the cordyceps militaris market

North America

• According to Market Research, North America is estimated to dominate the cordyceps militaris market over the forecast period. The rising prevalence of chronic diseases in North America is increasing the need for alternative and complementary treatments, including cordyceps militaris. According to the Centers for Disease Control and Prevention (CDC), six out of every ten persons in the United States have a chronic disease, with four out of ten having two or more. Furthermore, the American Diabetes Association reports that 34.2 million Americans, or 10.5% of the total population, had diabetes in 2018. The rising prevalence of chronic diseases is generating interest in natural therapies such as cordyceps militaris.
• Furthermore, North America is a leader in medicinal mushroom research and development, including cordyceps militaris. The National Institutes of Health (NIH) has financed various studies into the possible health benefits of Cordyceps and other medicinal mushrooms. According to the NIH RePORTER database, there were over 100 ongoing research projects on medicinal mushrooms in 2020, with a total budget of almost $40 million. This increasing research activity is raising awareness and generating demand for cordyceps militaris products in the region.

Europe

• Europe region is estimated to exhibit substantial growth within the market during the forecast period. Europe’s population is rapidly aging, which raises health concerns and drives up demand for natural health products. According to Eurostat, the share of the EU-27 population aged 65 and more is expected to rise from 20.3% in 2019 to 29.4% by 2050. This demographic trend is projected to drive up demand for items like cordyceps militaris, which are thought to improve immune function and overall health in older persons.
• Furthermore, stress-related diseases are growing more prevalent in Europe, boosting the demand for natural adaptogens such as cordyceps militaris. According to the European Agency for Safety and Health at Work, work-related stress affects 28% of European employees. A 2020 study published in the Journal of Clinical Medicine discovered that the incidence of anxiety and depression in Europe grew dramatically during the COVID-19 pandemic, with rates reaching up to 49.6% for anxiety and 41.5% for depression in several nations. This trend is projected to increase demand for natural stress reduction remedies, such as cordyceps militaris.

Asia Pacific

• The Asia Pacific region is estimated to exhibit the highest growth during the forecast period. The long-standing use of cordyceps in Traditional Chinese Medicine (TCM) and other Asian medicinal systems propels market expansion in the region. The World Health Organization (WHO) reports that traditional medicine accounts for up to 50% of total healthcare delivery in certain Asian nations. In China, the State Administration of Traditional Chinese Medicine reported that 60.3% of community health service centers and stations used TCM services in 2015, demonstrating a strong cultural acceptance of natural medicines such as cordyceps militaris.
• Furthermore, the Asia Pacific region’s population is rapidly aging, resulting in rising demand for health supplements and natural therapies. According to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the number of elderly people (aged 65 and more) in the region is predicted to more than double from 535 million in 2015 to approximately 1.3 billion by 2050. This generational transition is projected to increase demand for items such as cordyceps militaris, which are thought to promote overall health and lifespan.

Global Cordyceps Militaris MarketSegmentation Analysis

The Cordyceps Militaris Market is segmented based on Type, Formulation, Application, and Geography.

Cordyceps Militaris Market, By Type

• Dried
• Wet

Based on Type, the market is segmented into Dried and Wet. The dried segment is estimated to dominate the cordyceps militaris market due to the versatility and ease of dried products, which are widely used in a variety of applications such as dietary supplements and functional foods. Dried Cordyceps militaris retains its bioactive ingredients effectively, making it a popular choice among consumers looking for natural health advantages. Furthermore, the longer shelf life of dried products increases their appeal in the market, resulting in better sales than wet alternatives.

Cordyceps Militaris Market, By Formulation

• Tablet
• Liquid
• Powder

Based on Formulation, the market is segmented into Tablet, Liquid, and Powder. The tablet segment is estimated to exhibit the highest growth within the cordyceps militaris market. Consumers prefer tablet supplements because they provide accurate dosing and are more portable than liquid or powder forms. The increased desire for simple and user-friendly health products has helped the tablet segment gain a sizable market share in the cordyceps militaris market.

Cordyceps Militaris Market, By Application

• Food and Beverages
• Pharmaceuticals
• Cosmetics
• Others

Based on the Application, the market is segmented into Food & Beverages, Pharmaceuticals, Cosmetics, and Others. The food & beverages segment is estimated to dominate the cordyceps militaris market. This dominance is fueled by rising consumer demand for functional foods and beverages that provide health benefits such as increased energy and immunological support. Cordyceps militaris-containing items, such as dietary supplements, health drinks, and snacks, are becoming increasingly popular as consumers become more health-conscious. This increase mirrors a broader change in the food market toward natural and herbal ingredients, reinforcing the segment’s dominant position.

Cordyceps Militaris Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

Based on Geography, the cordyceps militaris market is classified into North America, Europe, Asia Pacific, and the Rest of the World. North America is estimated to dominate the market during the forecasted period owing to increased demand for healthcare services, rising government spending, and the presence of significant industry players. The growing inclination for natural health goods, as well as cordyceps militaris’ recognition as a functional food and dietary supplement, all contribute to the region’s market domination.

Key Players

The “Cordyceps Militaris Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Dalian Lanshi Cordyceps Biotech Co. Ltd., Henan Huazhong Biotech Co. Ltd., Beijing Jingdu Cordyceps Biotech Co. Ltd., Jiangmen Honghao Bioscience Co. Ltd., and Nutrastar International, Inc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Cordyceps Militaris Market Recent Developments

• In February 2024, Odyssey received USD 6 million in investment for its mushroom-infused energy drinks. The brand offers pre-made beverages mixed with Lions Mane and Cordyceps mushrooms to enhance cognitive performance.
• In June 2023, Awshad, a New Delhi-based medicinal cannabis wellness firm, introduced its first product, ‘Calmashroom Vijaya and Cordyceps Capsules’.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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