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Cordyceps Sinensis Market Insights, Latest Advancements, Trends, Future Opportunities, Segments, Business Outlook And Key Players - Lei Yun Shang Pharmaceutical Group Co. Ltd., Tongqingyutang, Shenxiang, Sanjiangyuan, Tongrentang
The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032The Business Research Company's Cordyceps Sinensis Global Market Report 2023 identifies the increase in awareness about the health benefits of cordyceps sinensis as the major driver for the cordyceps sinensis market's growth in the forecast period. Cordyceps sinensis is used to improve physical strength and immunity power and is also used to treat diabetes, kidney, lungs, cardiac and other ailments. For instance, according to data published by SPINS, a US-based wellness-focused data provider and supporter of the natural products sector, in November 2020, in the US, the sales of cordyceps grew 43.7% compared to 2019. Therefore, increasing awareness about its health benefits will drive the cordyceps sinensis market.
The global cordyceps sinensis market size is expected to grow from $1.12 billion in 2022 to $1.22 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cordyceps sinensis market size is expected to grow to $1.60 billion in 2027 at a CAGR of 9.4%.
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Major competitors in the cordyceps sinensis market are Lei Yun Shang Pharmaceutical Group Co. Ltd., Tongqingyutang, Shenxiang, Sanjiangyuan, Tongrentang, Zhufengshengao, Huqingyutang, KangMei, Kangfulai, The Lubrizol Corporation, Naturalin Bio-Resources Co. Ltd., Nutra Green Biotechnology Co. Ltd., Xi'an Saina Biological Technology Co. Ltd., and Kshipra Biotech Private Limited.
A key trend in the cordyceps sinensis market includes technological innovation and advancements.Major companies are using new technologies such as cultivation and process technology for cultivating cordyceps sinensis. For instance, in July 2020, Scientists at Bodoland University (BU), an Indian university, developed a cultivation and process technology for cultivating cordyceps militaris or cordyceps sinensis in laboratory settings to meet the demand. BU is the pioneer in the technology for cultivating Cordyceps and is prepared to transmit process technology to encourage young entrepreneurs' development in order to improve self-employment and enable sustainable production of 'caterpillar mushroom'.
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The Cordyceps Sinensis market is segmented -
• By Product: Dried, Wet
• By Mode Of Cultivation: Natural, Artificial
• By Application: Treatment, Healthcare
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the cordyceps sinensis market.
The Business Research Company's "Global Cordyceps Sinensis Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Cordyceps Sinensis Market Include:
1. Executive Summary
2. Cordyceps Sinensis Market Characteristics
3. Cordyceps Sinensis Market Trends And Strategies
4. Cordyceps Sinensis Market - Macro Economic Scenario
5. Cordyceps Sinensis Market Size And Growth
……………
27. Cordyceps Sinensis Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cordyceps Sinensis Market
29. Cordyceps Sinensis Market Future Outlook And Potential Analysis
30. Appendix
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