Regional Analysis

Cordyceps Sinensis Market - Regional Insights

Geographically, the global cordyceps sinensis extract market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to lead the market during the forecast period, followed by Europe.

High prevalence of chronic diseases in the U.S. is expected to be a major factor supporting the market growth. According to Centre for Disease Control and Prevention, seven of the top ten causes of deaths in the U.S., in 2014 were chronic diseases, heart diseases, and cancer, which together accounted for over 46% of the deaths in the country. Furthermore, increasing number of patients with mental disorders is expected to significantly expand adoption of cordyceps sinensis extracts as it has immense benefits in lowering symptoms related to mental disorder. According to Anxiety and Depression Association of America in 2017, anxiety disorders are the most common mental illness in the U.S., affecting around 40 million adults aged 18 years and above, or 18.1% of the population, annually. However, only 36.9% of those suffering from anxiety receive treatment.

Asia Pacific is expected to show significant growth in the global cordyceps sinensis extract market over the forecast period. This is due the region being a major producer of cordyceps sinensis extracts, especially in China. According to data presented by the Ministry of Agriculture and Rural Affairs of the Peoples Republic of China in 2011, China has 200,000 kg of Cordyceps and 120,000 kg was harvested. Qinghai and Tibet regions exports around 20,000 kg of cordyceps sinensis to the U.S., Japan, Korea, Europe, South East Asia, Hong Kong, Macao and Taiwan etc. with an annual export of over 20,000 kg. Furthermore, rising prevalence of chronic diseases and increasing adoption of traditional medicines for the treatment of such diseases in the region is expected to propel growth of the cordyceps sinensis extract market. As per World Health Organizations’ factsheet in 2018, 1 in 3