Alkaloids to dominate the Plant Based API Market through 2028
Global
Plant Based API Market to be driven by growing demand for natural and
sustainable ingredients in the pharmaceutical industry during the forecast period.
According to TechSci Research report, “Plant
Based API Market - Global Industry Size, Share, Trends, Opportunity,
and Forecast, 2018-2028F”, Global
Plant Based API Market is anticipated to grow at an impressive rate in the
forecast period, 2024-2028. Global Plant Based API market is driven by
the widespread adoption of plant extract ingredients in pharmaceutical and food
& beverage industry. The use of plant-based Active Pharmaceutical
Ingredients (APIs) is becoming increasingly popular due to the growing demand
for natural and sustainable products, thereby driving the growth of global
plant based API market. Additionally, Governments and regulatory bodies are
increasingly supporting the development of plant-based APIs and natural
products. For example, the US FDA has created a botanical drug development
program to help companies bring plant-based drugs to market, and the European
Medicines Agency has established guidelines for the development of herbal
medicinal products. This in turn is expected to fuel the growth of global plant
based API market. Also, the European Union has set up a research and innovation
program to support the development of plant-based APIs. Hence, supporting the
growth of global plant based API market.
Besides, developments in the field of
plant based APIs such as the development of new extraction and purification
methods is further supporting the growth of global plant based API market. Traditional
extraction methods involve using solvents, which can leave residual chemicals
in the final product. New methods such as supercritical fluid extraction and
membrane filtration offer a more sustainable and efficient way of extracting
and purifying plant-based APIs.
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However, there are certain challenges
associated with plant based API such as Quality control, standardization,
sustainability, among others which are hindering the growth of global plant
based API market. One of the biggest challenges in the production of
plant-based APIs is ensuring consistent quality. Plant based APIs are derived
from natural sources and are subject to variation in their chemical composition,
depending on factors such as soil, climate, and harvesting methods. This makes
it difficult to ensure the consistency of the final product, which can impact
its safety and efficacy. Standardization is another major challenge in the
production of plant-based APIs. Standardization involves developing a
consistent method of extracting and purifying the active ingredients from the
plant source. This is particularly challenging for complex plant-based APIs
that contain multiple active ingredients, as it can be difficult to isolate and
purify each component. The production of plant-based APIs raises concerns about
sustainability. Many plant species are endangered or at risk of becoming
endangered due to overharvesting. Therefore, it is important to ensure that the
plant-based APIs are sourced sustainably to prevent the depletion of natural
resources.
Global Plant
Based API Market can be segmented by type, by application, and by region. Based
on type, the Global Plant Based API market can be categorized into alkaloids,
anthocyanins, flavonoids, phenolic acids, terpenoids, lignans and stilbenes,
and others. The alkaloids segmented dominated the global plant-based API market
in 2022 and is expected to continue maintaining its dominance through 2028
owing to the widespread use of alkaloids metabolites in psychotropic medicines,
social drugs, or hallucinogens. Atropine, caffeine, cocaine, ephedrine, and
nicotine all belong to the category of alkaloids.
Regionally, North America is expected to
witness highest growth in the forecast period because of United States is one
of the leading countries in the development of plant-based APIs. The country
has a strong research and development infrastructure, which has helped in the
growth of the plant-based API market. The US government is also promoting the
development of plant-based APIs by providing funding and grants for research.
Similarly, Canada is also investing in the development of plant-based APIs. The
country is focusing on the development of new technologies to extract
plant-based APIs efficiently. The Canadian government is providing grants to
researchers and startups to promote the growth of the plant-based API market.
Major companies operating in the Global Plant
Based API Market are:
- Roquette
Frères SA
- EVONIK
Industries AG
- Cargill,
Inc.
- Kothari
Phytochemicals & Industries Ltd
- Medipure
Pharmaceuticals Inc.
- Centroflora
Group
- Arboris,
LLCs
- BASF
SE
- Novartis
AG
- Sanofi
SA
- GlaxoSmithKline,
plc
- F.
Hoffmann-La Roche AG
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“Asia Pacific is expected to hold the largest share in the global plant based
API market on account of the increasing shift of consumers in the region
towards sustainable and ecofriendly alternatives. Additionally, China is one of
the leading countries in the production of herbal medicines. The country has a
rich tradition of using plant-based ingredients for medicinal purposes. China
is now focusing on the development of plant-based APIs for the pharmaceutical
industry. The Chinese government is promoting the development of plant based
APIs by providing funding for research and development.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
Plant Based API Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type
(Alkaloids, Anthocyanins, Flavonoids, Phenolic Acids, Terpenoids, Lignans and
Stilbenes, Others), By Application (Pharmaceuticals, Nutraceuticals, Herbal
Based Industries, Others), By Region and Competition”, has evaluated the future growth potential of Global Plant
Based API Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Plant Based API Market.
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