Global Cordyceps Sinensis Market, By Product Types (Dried, Wet), Applications (Treatment, Health Care) – Industry Trends and Forecast to 2031.
Cordyceps Sinensis Market Analysis and Size
The use of natural remedies in the healthcare industry has increased significantly. Cordyceps sinensis and the traditional herbal medicine cordyceps sinensis are one such herbal medicine and are increasingly accepted. Manufacturers of the cordyceps sinensis markets are focused on developing products for multiple end applications, including pharmaceuticals, foods, and dietary supplements. Emerging markets such as China are growing in terms of improving their healthcare infrastructure, leading to significant investments in R&D activities related to natural products in the Asia Pacific region.
Data Bridge Market Research analyzes that the global cordyceps sinensis market, which was USD 1,280.13 million in 2023, is expected to reach USD 2,524.23 million by 2031 and is expected to undergo a CAGR of 5.01% during the forecast period of 2024 to 2031. “Dried” dominates the product type segment of the market due to the rising demand for cordyceps sinensis. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2024 to 2031
|
|
Base Year
|
2023
|
|
Historic Years
|
2022 (Customizable to 2016-2021)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
By Product Types (Dried, Wet), Applications (Treatment, Health Care)
|
|
Countries Covered
|
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
|
|
Market Players Covered
|
The Lubrizol Corporation (U.S.), Naturalin Bio-Resources Co., Ltd., (China), Nutra Green Biotechnology Co., Ltd. (China), Xi’an Saina Biological Technology Co., Ltd (China), Kshipra Biotech Private Limited (India)
|
|
Market Opportunities
|
|
Market Definition
Cordyceps sinensis is a type of fungus that has been used in traditional herbal medicine for centuries. It increases the efficiency of the circulatory system, and these factors are expected to increase the demand for cordyceps sinensis in the healthcare industry. Hence, this use is increasing, consequently leading to market growth.
Global Cordyceps Sinensis Market Dynamics
Drivers
- Launch of new products
The launch of new products is expected to drive the growth of the market during the forecast period. For instance, Peaceful Harvest Mushrooms, a certified organic grower in the United States, released cordyceps militaris, dried, whole, and fruiting bodies in november 2021.
- Increasing demand for traditional Chinese medicine
The species of cordyceps sinensis has become very important due to many bioengineering and clinical applications such as genetic and nutritional standards. Traditional herbal medicine (TCM) includes traditional herbal medicine, seasoning ingredients, unique herbal medicine, herbal extracts, and health products. TCM's products are expected to be internationalized and help other countries and regions grow and export traditional Chinese herbs to support the health industry. Cordyceps sinensis is well-studied species of all TCM products.
- Rising prevalence of chronic diseases
Non-communicable diseases have been on the rise in the last few decades. Along with this, cardiovascular diseases, cancer, respiratory illness, and diabetes have been increasing as well. In addition, increasing demand for Chinese herbs in primary care is expected to contribute to developing the cordyceps sinensis market. The epidemic of chronic diseases such as diabetes, cardiovascular disease, respiratory disease and cancer is expected to drive the adoption of preventative medical products containing cordyceps sinensis species and accelerate the growth of the same in the coming years.
Opportunities
- Inclusion of new companies and launches
The involvement of new players and new launches are boosting market growth. In addition, the growing demand for herbal medicines in primary care will help manufacturers of Cordyceps sinensis to focus on the market to develop products for multiple end-use products such as pharmaceuticals, foods, and dietary supplements. Currently, most manufacturers are focusing on producing Cordyceps sinensis extract powder to produce more formulations.
- Rise in Precision Medicine Initiatives
The increasing focus on precision medicine initiatives worldwide presents a significant opportunity for cordyceps sinensis. Tailoring treatments based on individual epigenetic profiles and molecular characteristics offers substantial potential for improving patient outcomes.
Restraints/Challenges
- High Cost of Cordyceps Sinensiss
The high price of cordyceps sinensis is a major impediment to sales growth. Wild CORdyceps is not used in most cordyceps supplements due to its high price. Acceptance of such expensive Chinese herbs is low in emerging countries such as Africa and Latin America.
-
Regulatory Challenges and Lack of Standardization
Regulatory frameworks and standards for cordyceps products vary across regions and countries. The lack of standardized regulations could lead to inconsistencies in product quality, safety, and efficacy. Establishing universally recognized standards and ensuring compliance with stringent regulations present challenges for manufacturers and suppliers.
This cordyceps sinensis market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cordyceps sinensis market Contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In November 2021, Peaceful Harvest Mushrooms, a certified organic grower in the United States, released whole dried fruiting bodies on Cordyceps Sinensis. Peaceful Harvest Mushrooms provide organic, small batch, medicinal mushrooms, grown and crafted on their farm in Vermont. To ensure top freshness and potency, they use mushrooms grown on their farm or sustainably harvested from the encompassing forest. Their product lineup features a variety of tinctures, powders, and whole dried fruiting bodies, including individual and blended formulas of Lion's Mane, Chaga, Cordyceps, Maitake, Turkey Tail, Shiitake, and Reishi. They use the whole mushroom and mycelium in their products
Global Cordyceps Sinensis Market Scope
The cordyceps sinensis market is segmented on the basis of product type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Dried
- Wet
Application
- Treatment
- Healthcare
Global Cordyceps Sinensis Market Regional Analysis/Insights
The cordyceps sinensis market is analyzed and market size insights and trends are provided by country, product type, and application as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia- Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and rest of Middle East & Africa.
North America is expected to dominate the due of the increase in the expenditure for research and development proficiencies, increasing government’s initiatives and improved health care infrastructure in various countries.
Asia-Pacific is expected to exhibit the highest growth rate in the market during the forecast period of 2024 to 2031 due to the increasing government expenditure on healthcare sector and rising technological advancements and initiatives by the government.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The cordyceps sinensis market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for cordyceps sinensis market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the cordyceps sinensis market. The data is available for historic period 2016-2021.
Competitive Landscape and Global Cordyceps Sinensis Market Share Analysis
The cordyceps sinensis market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cordyceps sinensis market.
Some of the major players operating in the cordyceps sinensis market are:
- The Lubrizol Corporation (U.S.)
- Naturalin Bio-Resources Co., Ltd., (China)
- Nutra Green Biotechnology Co., Ltd. (China)
- Xi’an Saina Biological Technology Co., Ltd (China)
- Kshipra Biotech Private Limited (India)
SKU-