Global Cordyceps Sinensis And Militaris Extract Market, by Formulation (Tablet, Liquid, Powder, Extract Powder, Whole Powder), by Application (Medicine, Dietary Supplement, Food Additives), by Strain Type (Cordyceps Sinensis, Cordyceps Militaris), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, And Africa), is estimated to be valued at US$ 1,072.5 million in 2022, and is expected to exhibit a CAGR of 10.9% during the forecast period (2022-2030).
Increasing number of product launches are expected to drive growth of the global Cordyceps Sinensis And Militaris Extract market over the forecast period. For instance, in June 2021, NeonMind Biosciences Inc., a preclinical research company, announced the launch of its functional mushroom coffee under the NeonMind brand as dietary supplements in the U.S. Functional mushrooms contained in NeonMind coffees such as cordyceps, lion's mane, reishi, and turkey tail, provide long-term physical, neurological, and immunological advantages.
Moreover, rising acquisitions are expected to propel growth of the global Cordyceps Sinensis And Militaris Extract market during the forecast period. For instance, in December 2021, Core One Labs Inc., a research and development company, announced that it had completed the acquisition of New Path Laboratories Inc., a company dedicated to the development and licensing of natural health products and dietary supplements. New Path Laboratories, Inc.’s product ‘Forest Garden’ produces an immune boosting capsule line made from chaga, cordyceps, reishi, maitake and lion’s mane mushrooms.
Global Cordyceps Sinensis And Militaris Extract Market- Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic has affected several markets across the globe. The COVID-19 pandemic has affected demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets. However, Coronavirus (COVID-19) pandemic is expected to positively impact growth of the global Cordyceps Sinensis And Militaris Extract market during the forecast period. For instance, according to an article published in journal of Biomolecular Structure and Dynamics, in November 2020, cordycepin has a greater capacity to prevent coronavirus entry and reproduction inside the host body. The study was supported by the remarkable clinical health benefits of cordycepin, which include protective effects on the hepatic, renal, cardiovascular, respiratory, neurological, and immunological systems in addition to possessing anti-cancer, anti-oxidant, anti-inflammatory, and anti-microbial properties. These tissues are most commonly impacted by COVID-19 during the later phase of infection.