Cordyceps Sinensis And Militaris Extract MarketSize and Trends

Global Cordyceps Sinensis and Militaris Extract market is estimated to be valued at US$ 1,072.50 Mn in 2022, and is expected to exhibit a CAGR 10.9% over the forecast period (2022-2030).

Increasing emergence of traditional Chinese medicine in medicinal community as cordyceps sinensis and cordyceps militaris are traditional Chinese medicine are expected to drive growth of market over the forecast period.

Figure 1: Global Cordyceps Sinensis and Militaris Extract Market Share (%) Analysis, By Formulation, 2022

Traditional Chinese medicine (TCM) cordyceps sinensis and cordyceps militaris are the potential bio-metabolites for herbal medicines. This cordyceps category has shown considerable significance in several clinical and biotechnological applications such as genetic and nutritional requirements. Governments and non-profit organizations are taking initiatives to recognize and spread the knowledge of traditional medicine all over the world, which is expected to drive the market growth over forecast period. For instance, in March 2022, the World Health Organization (WHO) and the Government of India announced an agreement to establish the WHO Global Centre for Traditional Medicine. With a US$ 250 million investment from the Government of India, this worldwide knowledge center for traditional medicine intends to extract the treatment potential of traditional medicine around the world to benefit humans.

During Covid-19 pandemic, there was an increase in demand of cordyceps sinensis and cordyceps militaris owing to its use in COVID-19 treatment. For instance, according to the article published in Bezmialem Science journal, 2020, cordyceps sinensis and cordyceps militaris can be useful for the prevention and treatment of COVID-19 by acting as an immunomodulating agent, lowering proinflammatory cytokines, avoiding lung fibrosis, enhancing tolerance to hypoxia, and blocking viral enzymes. However, due to flaws in the transportation system brought on by the COVID-19 pandemic, there was a delay in the delivery of raw materials needed to make cordyceps-related items needed for the identification of diseases other than Covid-19.

Figure 2: Global Cordyceps Sinensis and Militaris Extract Market Value (US$ Mn), by Region, 2022