The global cordyceps extract market is anticipated to grow at a CAGR of nearly 9.3% during the forecast period (2022-2028). Cordyceps is a type of fungus that lives on certain caterpillars and is found at high elevations and can only be harvested from altitudes between 2500 meters to 5000 feet above due to its sensitivity to oxygen levels. The major factor expected to drive the market growth is the rise in awareness about its health benefits and increasing demand for dietary supplements are some factors contributing to the growth of the market. The increasing the prevalence of chronic diseases such as CVD, cancer, diabetes, and respiratory diseases would lead to increasing adoption of preventive healthcare products made from cordyceps extracts which further propel the growth of the market.
Moreover, its specialty in improving immunity by stimulating cells supports in fight cancer cells, and shrinking tumor size, particularly with lung or skin cancers. This will further boost the growth of the global cordyceps extract market during the forecast period. In addition, the market is growing during the forecast period owing to an increase in demand for herbal medicine in primary healthcare owing to its use in nutritional supplements for respiratory function, sports, strength, sexual health, and many other supplementations.
Some major players in the market include Naturalin Bio-resources Co., Ltd., Nutra Green Biotechnology Co., Ltd., and The Lubrizol Corp., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in May 2020, Bodoland University one of Assam’s youngest universities, states that it has developed a fungal powder to support people boost their immunity to disease. The powder is from a parasitic, however, rare “super mushroom” called cordyceps militaris. The University also worked on the best protective equipment for the nose and hands of persons following the COVID-19 outbreak and also looked at ways to fight the virus by boosting a person’s immunity.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape– Naturalin Bio-resources Co., Ltd., Nutra Green Biotechnology Co., Ltd., and The Lubrizol Corp., among others.
A full report is available at: https://orionmarketreports.com/global-cordyceps-extract-market/96549/
Global Cordyceps Extract Market Report by Segment
By Type
- Powder
- Tablet
- Capsule
By Application
- Pharmaceuticals
- Dietary Supplement
- Others
By Distribution Channel
- Retail Pharmacy
- Online Pharmacy
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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