The global cordyceps sinensis and militaris extract market offers a natural solution for boosting immunity and energy levels. Cordyceps are a genus of ascomycete fungi that includes about 600 species. Many natural health products containing extracts from cordyceps sinensis and militaris are marketed for their health benefits. The most common uses include improving athletic performance, enhancing libido and sexual function, kidney and liver health, fatigue, and respiratory disorders.
Market Dynamics
The growing health supplement consumption has positively impacted the cordyceps sinensis and militaris extract market. According to the Council for Responsible Nutrition, in 2021 over 80% of American adults consumed dietary supplements, with immunity-related supplements being the top growth category. Cordyceps extracts are marketed for their immuno-regulatory and antioxidant properties. This increased demand for boosting immunity through natural means has accelerated market growth of the key driver from the heading, rising health supplement consumption. Additionally, expanding applications of cordyceps extracts beyond traditional Chinese medicine into other areas like sports nutrition have further augmented market revenues.
SWOT Analysis
Strength: Cordyceps Sinensis And Militaris Extract possesses various health benefits that helps in boosting immunity and energy levels. It also helps reducing fatigue and improves overall endurance. Additionally, increasing popularity of herbal medicines is driving higher demand for this extract.
Weakness: The extract is sourced only from fungi that grows in high-altitude regions, mainly in China, Nepal and Tibet. This makes its supply limited and vulnerable to climate change impacts. Further, lack of standardization and regulation in quality can pose safety issues.
Opportunity: Rising health awareness among consumers is fueling demand for supplements offering medicinal properties. This presents an opportunity for manufacturers to launch innovative product formulations containing this extract. Growing e-commerce is also expanding its accessibility to new markets globally.
Threats: Stiff competition from substitute products offering similar health benefits can impact the market share of this extract. Additionally, instability in raw material supply due to climate change can challenge steady production. Stringent regulatory norms and certification process for new products may also act as a barrier.
Key Takeaways
The global Cordyceps Sinensis And Militaris Extract market is expected to witness high growth. The market size is forecast to reach US$ 1,072.5 Mn by 2024 registering a CAGR of 10% during the forecast period.
Regional analysis: The Asia Pacific region, led by China, currently dominates the global market with over 50% share. This is attributed to factors such as favorable climatic conditions for natural cultivation of fungus and large production base. North America and Europe are other major markets growing at a steady pace due to increasing consumer awareness about medicinal mushroom extracts.
Key players: 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. These companies are focused on new product launches and portfolio expansion strategies to gain market share.
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