Cordyceps Militaris Market Trend, Opportunity, and Forecast Analysis, 2024-2032

Cordyceps Militaris Market Highlights

The global cordyceps militaris market is expected to cross a market size of USD 2.98 billion by the end of 2032. The market size was valued at USD 1.16 billion in 2023 and is expected to expand at a CAGR of 13.4% between 2024-2032.

• Over the mid-term, the growing consumer awareness for the health benefits associated with cordyceps militaris is the primary factor anticipated to drive the global cordyceps militaris market.
• The high cost of production is a major factor to challenge the market growth.
• The North America cordyceps militaris market is projected to dominate the global market.

Cordyceps Militaris Market Outlook

The species of fungus that belongs to the Cordyceps genus and encompasses a group of parasitic fungi who are known for their medicinal properties, is known as cordyceps militaris. The fungus is usually cultivated on various substrates, including grains and plant-based materials.

According to our experts at KD Market Insights, one of the major factors anticipated to drive the growth of the global cordyceps militaris market is the growing consumer awareness for the health benefits associated with cordyceps militaris. The fungus is known to have the potential to boost energy, improve immune function and also enhance overall well-being and is known to be beneficial for human health. Hence, with the growing interest for natural, functional foods, and supplements among health-conscious consumers, the demand for the fungus is expected to increase, in turn, driving the demand for cordyceps militaris. Our researchers predict that the revenue generated from the sales of functional foods globally would grow with a CAGR of about 8.9% during the forecast period and reach close to USD 294 billion by 2032. Nammex (North American Medicinal Mushroom Extracts), Mushroom Science, Aloha Medicinals Inc. are some of the significant parties in the global market for cordyceps militaris.

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Cordyceps Militaris Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the global cordyceps militaris market are:

• Expanding Need for Wellness and Preventive Healthcare: Consumers around the globe are increasingly developing interest in preventive healthcare, backed by the growing prevalence for different types of chronic diseases. The government of different regions are also focusing on promoting preventive healthcare by raising their investments. For instance, in the European Union, the member states spent more than USD 108 per inhabitant on preventive healthcare. With the expanding demand for preventive healthcare and wellness products, the demand for dietary supplements and functional foods is growing, thereby creating numerous opportunities for the market growth.
• Surge in R&D Activities for Identifying New Bioactive Compounds: The healthcare and pharmaceutical industry is witnessing several research and development (R&D) projects in identifying new bioactive compounds that has several health benefits. Cordyceps militaris is known to have several medicinal properties and healthcare researchers are finding out potential applications for the fungus. Backed by a strong R&D healthcare expenditure of countries worldwide and the expanding R&D projects in the given field, the scope of market expansion is expected to increase further, thereby contributing to the market growth.

Which Probable Factors Could Hamper the Growing Cordyceps Militaris Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of cordyceps militaris are:

• Harvesting Challenges Associated with the Fungus: The fungus cordyceps militaris is usually cultivated and not harvested from the wild, as a result of which, the supply of the fungus is usually limited as compared to its wild counterpart, cordyceps sinensis. Owing to these cultivation challenges associated with the fungus, the supply chain is hampered, and therefore the profitability of the dealers dealing with it.
• High Cost of Production: The cost of producing the fungus is usually high as the production process involves special cultivation techniques that raises the overall production costs. Such a factor is therefore projected to hamper the market growth during the forecast period.

How is the Global Cordyceps Militaris Market Segmented?

Our experts at KD Market Insights have segmented the global cordyceps militaris market research report as:

What are the Probable Factors Influencing the North America Cordyceps Militaris Market Forecast?

The North America cordyceps militaris market is majorly driven by the growing acceptance of traditional medicinal practices, influenced majorly by the Asian countries. Consumers in the region are increasingly gaining awareness on the benefits associated with the long history of the use of traditional Asian medicines that have been benefitting individuals of the Asian countries. Additionally, the market growth in the region can also be attributed to the surge in health and wellness trends among the consumers, especially in the United States, where the number of individuals falling prey to different kind of diseases is increasing rapidly. Further, the market growth in the region can also be attributed to the presence of a strong healthcare system in the region and the rising number of cultivators in the region who are focusing on cultivating the fungus to extract its commercial benefits.

As per our analysts at KD Market Insights, the following five players lead the North America cordyceps militaris market growth:

• Four Sigmatic
• Real Mushrooms
• Aloha Medicinals Inc.
• Mushroom Science
• Mushroom Revival

Which Key Players Top the Global Cordyceps Militaris Market Share?

As per our analysts at KD Market Insights, the competitive landscape of global cordyceps militaris market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with cordyceps militaris market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global cordyceps militaris market share:

• Nammex (North American Medicinal Mushroom Extracts)
• Mushroom Science
• Aloha Medicinals Inc.
• MycoTechnology Inc.
• NutraFormulations
• Real Mushrooms
• Oriveda
• Four Sigmatic
• Mushroom Wisdom Inc.
• Mushroom Revival
• Dragon Herbs
• Stamets P, Fungi Perfecti

What are the Recent Developments Observed in the Cordyceps Militaris Market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with global cordyceps militaris market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

For instance, a team of researchers recently researched on the efficacy of cordyceps militaris on mild to moderate COVID-19 infection. Of the 58 evaluable patients, they found that the recovery of patients steadily increased from about 57% on day 5 to 100% on day 30.

Further, another team of researchers studied how cordyceps militaris containing mushroom blend enhanced the tolerance of the individuals to high intensity exercises upon acute and chronic supplementation.