Plant-Based Active Pharmaceutical Ingredients Market Analysis: Key Drivers and Emerging Trends
The global plant-based API market size is expected to reach USD 44.65 billion by 2030, expanding at a CAGR of 6.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of the plant based active pharmaceutical ingredient (API) market is attributable to the rising prevalence of chronic diseases and an increasing adoption of plant based products for development of medication owing to the high effectiveness associated with herbal products. For instance, taxol is found the most effective for cancer treatment. scopolamine is found to be effective for motion sickness and buprenorphine is best adopted for addiction treatments. These drugs are long being used for medicinal purposes in treatment of wide range of diseases.
A major driver for market growth is the enhancement of brain function due to the presence of secondary metabolites. Plant based API are widely used for modification of CNS functions. It is highly researched that most plant-based extracts and chemicals have greater efficacy in treating psychiatric disorders. Several extracts/phytochemicals are seen to provide promising results in treatment of various CNS disorders. However, the most dominant group of phytochemicals include alkaloids, terpenes, and phenolic compounds.
The surge in consumption of Ayurveda drugs or traditional medicines is further giving rise to increasing demand for natural plant ingredients and API. India has many small, medium, and large-scale manufacturers that are focusing on expanding their manufacturing capabilities for personal care and medicinal products. Moreover, the ayurvedic system of medicine has highly been focused on in India which makes it important for manufacturers to develop and satisfy the need of health care in the country. Furthermore, research in field of pharmaceuticals for formulation and development of novel plant based therapeutics. For instance, in May 2023, researchers at The University of Texas at San Antonio and Southwest Research Institute developed a method for artemisinin, a potent antimalarial drug that would aid in developing cost effective treatment for malaria.
Furthermore, key players involved in developing and formulating various plant based API are focusing on collaborations and partnerships to develop novel therapeutics and to maintain their competitive position in the market. In addition, increasing interest in plant based medicines owing to natural remedies offered by them is expected to boost the market over the forecast period. Moreover, a number of players are involved in geographic expansion and distribution to meet the rising demand for medicinal products. For instance, in April 2020, Brains Bioceutical Corp announced the approval from ANVISA to provide EU-GMP Phytochemical API to Brazil, for its first approved cannabis product.
Plant-based API Market Report Highlights
- Based on molecule type, alkaloids segment held largest revenue share in 2022 attributable to the increasing adoption of alkaloids in treatment of psychiatric disorders
- Based on end-user, nutraceuticals segment is expected to show fastest growth rate over the forecast period owing to high adoption of plant based API in production of nutraceuticals
- Pharmaceuticals segment dominated the market in 2022 attributable to the increasing research in field of medicine to incorporate herbal products
- Key players operating in the market are constantly focusing on geographical expansion and product launches to maintain their presence in the market
- North America held the largest market share in 2022 which can be attributed to the growing regulatory support and increase in interest in plant based medicine
- A few of the key market players include Roquette Frères, Arboris, Centroflora, BASF SE, Kothari Phytochemicals & Industries Ltd., Evonik Industries AG, Brains (Brains Bioceutical), Indo Phytochem Pharmaceuticals., HimPharm.com., Cargill, Incorporated.
Plant-based API Market Segmentation
Grand View Research has segmented the global plant-based API market based on molecule type, end-use, and region:
Plant-based API Molecule Type Outlook (Revenue, USD Billion, 2018 - 2030)
- Alkaloids
- Anthocyanin
- Flavonoids
- Phenolic Acids
- Terpenoids
- Lignin & Stilbenes
- Others
Plant-based API End-use Outlook (Revenue, USD Billion, 2018 - 2030)
- Pharmaceuticals
- Nutraceuticals
- Herbal Based Industries
- Others
Plant-based API Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- Australia
- Thailand
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
Key Players of Plant-based API Market
- Roquette Frères
- Arboris
- Centroflora
- BASF SE
- Kothari Phytochemicals & Industries Ltd.
- Evonik Industries AG
- Brains (Brains Bioceutical)
- Indo Phytochem Pharmaceuticals.
- com.
- Cargill, Incorporated.
Order a free sample PDF of the Plant-based API Market Intelligence Study, published by Grand View Research.
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