
The global plant-based API market is expected to experience robust growth, with a projected value of USD 30,084.8 million in 2024, expanding at a compound annual growth rate (CAGR) of 5.6% through 2034, reaching an estimated USD 52,085.9 million by the end of the forecast period.
The plant-based API market is rapidly gaining traction as consumers and pharmaceutical companies alike seek natural, sustainable alternatives to synthetic drugs. Plant-based APIs are derived from medicinal plants and herbs, harnessing the power of bioactive compounds found in nature to create therapeutic agents. This growing trend is being driven by the increasing demand for plant-based treatments and the benefits they offer in terms of sustainability, safety, and efficacy.
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Unlike their synthetic counterparts, plant-based APIs are extracted from well-known healing plants such as cannabis, ginseng, turmeric, and cinchona. These plants have long been recognized for their medicinal properties, and their bioactive compounds are becoming key players in modern pharmacology. As the world moves toward greener solutions in healthcare, plant-based APIs are seen as a promising avenue to develop therapies for a wide range of conditions.
The therapeutic applications of plant-based APIs span several areas, including pain and anti-inflammatory management, anticancer therapies, and treatment for respiratory and cardiovascular diseases. The expanding recognition of their potential in addressing global health challenges is further fueling market growth.
As consumer interest shifts toward more natural remedies and sustainable healthcare solutions, the plant-based API market is expected to play a pivotal role in shaping the future of pharmaceutical treatments.
The rise of plant-based APIs signifies a shift towards natural and holistic approaches to medicine, reflecting broader consumer trends focused on sustainability and well-being. As demand continues to rise, the market for plant-based APIs is positioned to become a central force in the pharmaceutical industry over the next decade.
Key Takeaways from the Plant-Based API Market Report:
- The global plant-based Active Pharmaceutical Ingredient (API) market is projected to reach USD 30,084.8 million in 2024.
- The market is expected to grow at a CAGR of 5.6% from 2024 to 2034, reaching USD 52,085.9 million by 2034.
- Regional Growth Expectations:
- India is forecasted to experience the highest growth with an 8% CAGR from 2024 to 2034.
- China follows closely with an 7% CAGR over the same period.
- South Korea is expected to grow at an 6% CAGR.
- Japan is projected to grow at a 7% CAGR.
- The United States is expected to see a 2% CAGR, while Germany is expected to grow at 4.0% CAGR.
- Significant therapeutic applications in pain, anti-inflammatory, anticancer, respiratory, and cardiovascular care.
- Increasing use of medicinal plants such as cannabis, ginseng, turmeric, and cinchona for bioactive compound extraction.
“As the world continues to shift toward sustainability, the demand for plant-based pharmaceuticals is growing, and we expect the market to expand rapidly in the coming decade, this growth reflects both the increasing consumer interest in natural medicine and the potential for plant-based ingredients to address a wide array of health concerns.” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
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Competitive Landscape of the Plant-Based API Industry:
The plant-based API market is experiencing heightened competition, driven by key partnerships and regulatory advancements. Notable growth in cannabis-derived compounds and psychedelics is shaping the industry, as companies focus on compliance and scaling production to meet the increasing global demand for plant-based, pharmaceutical-grade ingredients.
Recent Industry Developments in the Plant-Based API Market:
- On August 23, 2024, Bright Green Corporation entered a letter of intent to supply DEA-approved marijuana extracts and plant-based psychedelics to Benuvia Operations.
- On March 1, 2021, Indena received authorization from Italian regulators to produce pharmaceutical-grade cannabidiol (CBD) for both global clinical and commercial markets.
Key Players of the Plant Based API Industry:
- Abbott
- Bright Green Corporation
- Kerry Group plc.
- dsm-firmenich.
- Mallinckrodt
- C2 Pharma
- Sami-Sabinsa Group
- Afriplex
- Alkaloids Corporation.
- Phytotech Extracts Pvt. Ltd.
- Indena S.p.A
- Alchem International Pvt. Ltd.
- Roquette Frères
- Sichuan Xieli Pharmaceutical Co., Ltd.
- Shaanxi Jiahe Phytochem Co., Ltd
- Xi’an Greena Biotech Co.,Ltd
- Veranova, L.P.
- Teva Pharmaceutical Industries Ltd
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Plant Based API Market Segmentation:
By Product Type:
In terms of product type, the industry is segregated into alkaloids [opium alkaloids (morphine, codeine], tropane alkaloids, vinca alkaloids, other alkaloids], glycosides [cardiac glycosides, flavonoid glycosides, anthraquinone, glycosides, other glycosides], cannabinoids [cbd, thc], flavonoid [isoflavones, quercetin, other flavonoids], terpenes and terpenoids [diterpenes, monoterpenes, other terpenes and terpenoids], polyphenols [stilbenes, curcuminoids, other polyphenols], saponins [steroidal saponins, triterpenoid saponins, other saponins], others.
By API Form:
In terms of API form, the industry is segregated into liquid (extracts, suspensions, tinctures), powders & granules, crystalline form, paste, resins and oleoresins.
By Botanicals:
In terms of botanicals, the industry is segregated into Opium Poppy (Papaver somniferum), Madagascar Periwinkle (Catharanthus roseus), Pacific Yew Tree (Taxus brevifolia), Foxglove (Digitalis purpurea), Turmeric (Curcuma longa), Ginseng (Panax ginseng), Cannabis (Cannabis sativa), Willow Bark (Salix spp.), Senna (Senna alexandrina), other botanicals
By Source:
In terms of source, the industry is segregated into into leaves, roots, bark, flowers, seeds, fruits, resin & gums, other sources
By Disease Indication:
In terms of disease indication, the industry is segregated into Foot & Mouth Disease (FMD), Newcastle Disease, Porcine Reproductive & Respiratory Syndrome (PRRS), Canine Parvovirus, Brucellosis, Avian Influenza, and others
By Application:
In terms of application, the industry is segregated into pharmaceutical companies, nutraceutical companies, traditional & herbal medicine manufacturers, cosmetic companies, CMOs and CDMOs.
By End User:
In terms of end user, the industry is segmented into leaves, roots, bark, flowers, seeds, fruits, resin & gums, other sources.
By Region:
Key countries of North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, and Middle East & Africa have been covered in the report.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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