Global Cordyceps Militaris Market Size To Worth USD 3.11 Billion By 2033 | CAGR Of 11.79%
The Global Cordyceps Militaris Market Size was Valued at USD 1.02 Billion in 2023 and the Worldwide Cordyceps Militaris Market Size is expected to Reach USD 3.11 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: 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., MycoFores, and other key companies.
New York, United States , April 11, 2024 (GLOBE NEWSWIRE) -- The Global Cordyceps Militaris Market Size to Grow from USD 1.02 Billion in 2023 to USD 3.11 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 11.79% during the forecast period.
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Cordyceps militaris is classified as a fungal species. It has been used in traditional Chinese and Tibetan medicine to treat approximately 21 illnesses, including low immunity, high blood pressure, and so on. Cordyceps militaris is being used in pharmaceutical products after studies into its potential medical benefits. Its inclusion in pharmaceutical formulations is motivated by its ability to treat a wide range of health conditions, including fatigue, kidney disease, and respiratory disorders. For instance, in March 2022, the World Health Organization (also known as the WHO) and the Government of India agreed to create the WHO Global Centre for Traditional Medicine. The Indian government has invested $250 million in this global knowledge centre for traditional medicine, which aims to harness the treatment potential of traditional medicine around the world for human benefit. The Chinese Pharmacopoeia specifies the Cordyceps species as a herbal medicinal element. The market is expected to expand during the forecast period as more herbal medicines and natural cordyceps extracts are introduced. This cordyceps category has shown great promise in a variety of clinical and biotechnological applications, including genetic and nutritional needs. Cordyceps sinensis is difficult to harvest, costing more than US$ 9,000 per pound, according to Healthline, an American website and provider of health information in 2018. Wild cordyceps sinensis is not present in most cordyceps supplements due to its high cost.
Browse key industry insights spread across 200 pages with 115 Market data tables and figures & charts from the report on the *"**Global Cordyceps Militaris Market **Size, Share, and COVID-19 Impact Analysis, By Type (Dried, Wet), By Formulation (Tablet, Liquid, Powder), By Application (Food & Beverages, Pharmaceutical & Cosmetics), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."*
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*The dried* *segment dominates the market with the largest revenue share over the anticipation timeframe.*
On the basis of type, the global cordyceps militaris market is segmented into dried, and wet. Among these, the dried segment is dominating the market with the largest revenue share over the anticipation timeframe*. *The consumer preferences for the dried variant because it is convenient and suitable. The dried form has a retains the natural properties these properties are attracting those seeking its unaltered medicinal and wellness contexts.
*The tablet* *segment is witnessing significant CAGR growth over the anticipation timeframe.*
On the basis of formulation, the global cordyceps militaris market is segmented into tablet, liquid, and powder. Among these, the tablet segment is witnessing significant growth over the anticipation timeframe. The convenient way to consume any supplements is a tablet and making them ideal for those individuals ease of use. The increasing the presence of the cordyceps militaris in each formulation. The adaptability for the needs of health- conscious consumers across the market.
*The pharmaceutical & cosmetics dominate the market with the largest revenue share over the anticipation timeframe.*
Based on the application, the global cordyceps militaris market is segmented into food & beverages, and pharmaceutical & cosmetics. Among these, the pharmaceutical & cosmetics segment is dominating the market with the largest revenue share over the anticipation timeframe. The cordyceps milters has a many pharmaceutical properties to maximize the potential health benefits. In cosmetics market players into skincare formulations, renowned skincare benefits.
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*North America dominates the market with the largest market share over the anticipation timeframe.*
North America is dominating the market with the largest market share over the anticipation timeframe. The increasing demand in the healthcare services the reinforces this dominance and rising the government investments in the healthcare services plays the important roles. For instance, California-based organic product manufacturer Shroomshot released its third generation of functional mushroom blend Inside Energy in April 2021. This blend contains 1,000 mg of freshly harvested and organic cordyceps mushroom fruiting bodies. The healthcare initiatives, the notable presence of major industry players, the rise in chronic conditions, and the discernible increase in research activities all contribute to the region's dominance. It has shown how well economics, health consciousness, and calculated investments work together to support its dominance in the cordyceps militaris market.
Asia Pacific is expected to grow the fastest during the anticipation timeframe. This is one of the first developments of its kind in the state, as the commercial cultivation of this miraculous mushroom which has gained worldwide recognition for its use in health food supplements is the product of three years of research and study. It is anticipated that each of these elements will quicken regional market expansion. For instance, in March 2020, the Indian agritech start-up Pournami Agritech successfully harvested Cordyceps Militaris, also known as Himalayan Gold, a rare medicinal mushroom, in its first commercial harvest.
*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major market key players in the global cordyceps militaris market is 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, and Others.
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*Key Market Developments*
· *In June 2023,* launching its first-ever product, "Calmashroom Vijaya and Cordyceps Capsules," Awshad, a medical cannabis wellness startup with headquarters in New Delhi, has broadened its product line.
*Market Segment*
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Cordyceps Militaris Market based on the below-mentioned segments:
*Cordyceps Militaris Market, Type Analysis*
· Dried
· Wet
*Cordyceps Militaris Market, Formulation Analysis*
· Tablet
· Liquid
· Powder
*Cordyceps Militaris Market, Application Analysis*
· Food & Beverages
· Pharmaceutical & Cosmetics
*Cordyceps Militaris Market, Regional Analysis*
· *North America*
· US
· Canada
· Mexico
· *Europe*
· Germany
· Uk
· France
· Italy
· Spain
· Russia
· Rest of Europe
· *Asia Pacific*
· China
· Japan
· India
· South Korea
· Australia
· Rest of Asia Pacific
· *South America*
· Brazil
· Argentina
· Rest of South America
· *Middle East & Africa*
· UAE
· Saudi Arabia
· Qatar
· South Africa
· Rest of Middle East & Africa
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