Press release
Cordyceps Sinensis and Militaris Market is expected to double to USD 1.23 billion by 2034
Cordyceps Sinensis and Militaris
As of 2024, the market is valued at USD 624.7 million, with a projected growth to USD 1.23 billion by 2034, growing at a CAGR of 7.1%. The primary demand driver is their integration into nutraceuticals, functional foods, and clinical herbal products, supported by extensive research and wellness trends.
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Cordyceps militaris, in particular, is cultivated at commercial scale due to its ease of production and high cordycepin content, while Cordyceps sinensis, though rare and expensive, remains popular for premium wellness and traditional Chinese medicine (TCM) markets.
Key Market Drivers
• Global Wellness Boom: Increasing awareness of holistic wellness and preventive healthcare is boosting consumption of functional mushrooms.
• Demand for Immune Support: Post-pandemic immunity focus has triggered significant demand for immune-regulating supplements like Cordyceps.
• Sports & Endurance Nutrition: Athletes and fitness enthusiasts favor Cordyceps for enhanced stamina, oxygen utilization, and recovery.
• TCM and Ayurveda Acceptance: Integration of ancient medicinal mushrooms into mainstream Western herbal medicine is expanding the consumer base.
• Vegan and Plant-Based Product Demand: Cordyceps appeals to plant-based consumers seeking non-synthetic, adaptogenic alternatives.
Key Restraints and Challenges
• Overharvesting & Scarcity of Sinensis: Wild Cordyceps sinensis is rare and endangered, limiting availability and pushing prices upwards.
• Quality & Authenticity Issues: Adulteration and poor-quality extracts are common in the unregulated herbal supplement market.
• Regulatory Barriers: Inconsistent approval status across regions (e.g., Europe vs. US vs. Asia) complicates market expansion.
• Low Consumer Awareness in Emerging Markets: Despite growing interest, Cordyceps remains niche outside of Asia and select wellness communities.
• Clinical Validation Gaps: While traditional use is extensive, large-scale clinical trials validating specific claims are still limited.
Opportunities & Trends
• Functional Beverages: Cordyceps is increasingly being infused into coffees, teas, energy drinks, and chewable formats.
• Pharmaceutical and Medical Use: R&D is advancing toward antiviral, anti-tumor, and anti-fatigue applications, particularly using cordycepin and polysaccharides.
• Premium Skincare: Anti-aging and antioxidant properties are being harnessed in topical formulations and cosmeceuticals.
• Online Supplement Sales: E-commerce platforms are significantly expanding reach, especially in North America and Europe.
• Hybrid Formulations: Blending Cordyceps with reishi, lion's mane, ashwagandha, and turmeric is becoming popular in adaptogenic blends.
Market Segmentation
By Species
• Cordyceps Sinensis
Wild-harvested; high market value; premium traditional medicinal use
• Cordyceps Militaris
Commercially cultivated; rich in cordycepin; widely used in supplements
By Form
• Powder
Used in capsules, sachets, food formulations
• Extracts (Liquid & Dry)
Highly concentrated forms with high bioavailability
• Capsules/Tablets
Standardized dosages for consumer convenience
• Functional Beverages
Infusions, tonics, energy drinks
• Others
topical skincare, energy bars
By Application
• Nutraceuticals & Dietary Supplements (61% share in 2024)
Primary application across global markets for immune, stamina, and anti-aging benefits
• Pharmaceuticals
Investigational use in liver, respiratory, and chronic fatigue treatments
• Food & Beverage
Incorporated in energy drinks, mushroom coffees, and herbal soups
• Cosmeceuticals & Personal Care
Anti-inflammatory and antioxidant effects in skincare
• Veterinary & Animal Nutrition
• Others
Research, academic, biotech applications
By Region
• Asia Pacific
• North America
• Europe
• Latin America
• Middle East & Africa
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Regional Insights
Asia Pacific - Dominant and Cultural Core (2024 Share: 54%)
Asia Pacific is the largest and most established market, driven by:
• Deep-rooted traditional medicine systems (TCM, Ayurveda)
• High consumer awareness and consumption in China, Korea, Japan, and India
• Cordyceps sinensis's origin in the Himalayan belt
• Expanding nutraceutical production facilities in India, Thailand, Malaysia
The region also dominates cultivation, processing, and export of militaris-based supplements.
North America - Fastest-Growing Market
• Increasing acceptance of functional mushrooms in wellness and fitness sectors
• Strong performance in e-commerce and D2C supplement brands
• Cordyceps being used in energy drinks, pre-workouts, and vegan capsules
• Growth fueled by rising demand for organic, clean-label, non-GMO products
Europe - Regulatory Challenge, Rising Trend
• Despite stricter novel food regulations, Cordyceps is making inroads in Germany, France, the UK, and Scandinavia
• Used in endurance and immune health formulations
• Emerging demand in anti-aging supplements and natural cosmetics
Latin America & MEA - Emerging Markets
• Increasing interest in Ayurvedic and botanical remedies
• Growing import channels in Brazil, UAE, South Africa
• Product awareness campaigns and partnerships are opening niche opportunities
Competitive Landscape
The market comprises global nutraceutical brands, traditional herb producers, and specialized biotech firms. Players compete on extract purity, bioavailability, certifications (GMP, USDA Organic), and delivery formats.
Key Players:
• Naturalin Bio-Resources Co., Ltd.
Leading Chinese manufacturer offering cordycepin-rich extracts, powders, and organic-certified capsules.
• HNGB Biotech
Specializes in large-scale Cordyceps militaris cultivation with traceability and therapeutic-grade formulations.
• The Lubrizol Corporation (Active Organics)
Known for functional botanical actives and cosmetic-grade mushroom extracts used in skincare and anti-aging serums.
• Nammex (North American Medicinal Mushroom Extracts)
Focused on certified organic mushroom extracts, including high-potency militaris powder for global supplement brands.
• Host Defense (founded by Paul Stamets)
U.S.-based leader in functional mushroom supplements, offering vegan Cordyceps products for energy and immunity.
Other players:
• Aloha Medicinals
• Organic Mushroom Nutrition
• NutraGenesis
• Life Cykel
• Himalayan BioTrade
• Mushroom Wisdom
• Cordyceps Army
• Zhi Bai Di Huang
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Recent Developments (2025)
1. Naturalin - February 2025
Launched Cordyceps Dual Extract Powder standardized to 30% polysaccharides and 1.5% cordycepin for use in energy sachets.
2. Nammex - April 2025
Released a new full-spectrum Cordyceps militaris extract with enhanced cordycepin content (>2%) aimed at cognitive and athletic formulations.
3. Host Defense - March 2025
Expanded its Cordyceps+ line, integrating rhodiola and ashwagandha for stress and stamina support; available in chewables and drink powders.
4. Lubrizol - January 2025
Debuted a cosmetic-grade Cordyceps complex for anti-wrinkle creams, demonstrating strong antioxidant activity and collagen support.
5. HNGB Biotech - May 2025
Signed an R&D collaboration with a Japanese nutraceutical firm to develop bioavailable liposomal Cordyceps formulations.
Events and Implications
Several macro trends and developments are reshaping the Cordyceps market:
• Post-COVID Wellness Shift: Global consumers continue to prioritize immune health, endurance, and vitality through functional nutrition.
• Athletic & Endurance Positioning: Pre-workout, VO2-max enhancing, and recovery-supporting claims are driving interest among athletes.
• Traditional Medicine Integration: Cordyceps is now being fused with modern supplement formats (e.g., softgels, sprays) for global acceptance.
• Sustainability in Sourcing: Militaris cultivation is taking pressure off endangered wild Sinensis populations while enabling traceability and organic certification.
• Retail Evolution: D2C platforms, influencer-backed wellness brands, and Amazon/FBA channels are helping niche mushrooms gain mass appeal.
Conclusion
The Cordyceps Sinensis and Militaris Market is entering a golden growth phase, driven by the intersection of ancient wisdom, modern science, and wellness trends. With broad applications across nutrition, pharmaceuticals, personal care, and functional beverages, Cordyceps is evolving from a niche tonic into a global adaptogenic powerhouse.
From USD 624.7 million in 2024 to USD 1.23 billion by 2034, the market will expand steadily at 7.1% CAGR, led by:
• Asia Pacific's production and heritage advantage
• North America's wellness and innovation culture
• Europe's cosmeceutical and performance nutrition growth
The winners in this market will be those who can offer certified, high-bioavailability, ethically sourced, and clinically supported products-delivered in consumer-friendly formats.
This report is also available in the following languages : Japanese (冬虫夏草とミリタリス マーケット), Korean (동충하초 및 밀리타리스 시장), Chinese (冬虫夏草及蛹虫草市场), French (Marché du Cordyceps Sinensis et Militaris), German (Markt für Cordyceps Sinensis und Militaris), and Italian (Mercato del Cordyceps Sinensis e Militaris), etc.
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