The global Cordyceps Sinensis And Militaris Extract Market offers a variety of health benefits such as enhanced immunity, antioxidant properties, improved cardiovascular health and sexual function. Derived from fungi that grow naturally on insect larvae and host caterpillars in mountainous regions of Asia, these extracts contain various bioactive components including cordycepin, polysaccharides and sterols. The Global Cordyceps Sinensis And Militaris Extract Market is estimated to be valued at US$ 1,072.5 Mn in 2024 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030.
Key takeaways
Key players operating in the Cordyceps Sinensis And Militaris Extract Market are Lubrizol Corporation, Naturalin bio-resources co. Ltd., NU SKIN ENTERPRISES INC., Quyuan sunnycare Inc., Shanghai Kangzhou Fungi Extract Co. Ltd., Xi'an Saina Biological Technology Co. Ltd. (Herbsino), Dalong Biotechnology Co. Ltd., Health Choice Limited, Nutra Green Biotechnology Co. Ltd, Sunrise Nutrachem Group Ltd., Ojas Farms, Golden Vital Agro Herbal Private Limited, MycoForest. The growing health-conscious demographic and increasing awareness about the benefits of natural remedies is propelling the demand for cordyceps extracts in various application industries like dietary supplements, functional food and beverages, pharmaceuticals and cosmetics. Several companies are expanding their presence globally by launching new product lines, strengthening distribution networks and engaging in promotional activities to tap the market potential across regions.
Growing demand for natural alternatives to synthetic drugs is expected to boost the cordyceps extracts market over the forecast period. The Global Cordyceps Sinensis And Militaris Extract Market is driven by rising health expenditure, increasing preference for herbal and natural remedies over allopathic medicines and burgeoning functional food and nutraceuticals industry. Additionally, expanding applications of cordyceps extracts in anti-aging creams, shampoos and other personal care items is fueling the market growth.
Market Key Trends
New product innovations with standardized formulations containing precise concentrations of active compounds is one of the key trends witnessed in the cordyceps extracts industry. Companies are investing heavily in R&D activities to identify novel bioactives in different cordyceps species indigenous to specific regions and develop premium value-added extracts with targeted wellness benefits. This is expected to boost the market potential for these extracts in future.
Porter’s Analysis
Threat of new entrants: The cordyceps sinensis and militaris extract market has high barriers for new companies to enter due to the requirement of specialized knowledge,skills and resources for sourcing, processing and branding.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and fragmented nature of the market.
Bargaining power of suppliers: Suppliers have high bargaining power due to their specialized knowledge and limited source of raw materials.
Threat of new substitutes: Threat from new substitutes is moderate as cordyceps acts as adaptogen with immune boosting properties which are difficult to substitute.
Competitive rivalry: The market has fierce competition among existing players to retain market share and gain leadership position.
Geographical regions: China accounts for the majority share currently accounting for over 50% of the global market value owing to suitable climatic conditions and abundance of raw materials in Qinghai-Tibet Plateau region of China.
The Asian market excluding China is expected to be the fastest growing region during the forecast period with countries like India, Indonesia and Vietnam emerging as major markets on account growing awareness, increase in disposable incomes and rising health consciousness.
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