The Global Plant-Based API Market Size is predicted to witness a 7.49% CAGR during the forecast period for 2023-2031.
Active Pharmaceutical Ingredients (APIs) and excipients are the two most essential components in the manufacture of medication. The API is the chemical from which the medication is created. In contrast, the excipient is a component that isn't the drug but works as a medium that allows the body to absorb the medicine, including lactose or mineral oil, in a pill. The rising rate of chronic illnesses and the growing importance of generics are some of the vital drivers driving the growth of the Indian APIs industry.
Advances in active pharmaceutical ingredient (API) manufacture and the growth of the biotech sector are driving the market growth. The aging population positively impacts the development of several chronic and acute ailments that necessitate more advanced pharmaceuticals to mitigate their effects. This is why the global Active Pharmaceutical Ingredients (API) Market has been growing. COVID-19 has also had a major effect on the Active Pharmaceutical Ingredients (API) industry's growth.
Pharmaceutical companies have become the most significant industry in the globe during the pandemic due to the widespread use of various drugs to treat COVID-19 patients' symptoms and various medical conditions, including high fever, cough, and cold.
Recent Developments:
The Plant-Based API market is segmented based on product and application. Based on the product, the Plant-Based API market is segmented as alkaloids, anthocyanins, flavonoids, phenolic acids, terpenoids, lignans, and stilbenes. By application, the market is segmented into pharmaceuticals, nutraceuticals, herbal-based industries, and others[D1].
The flavonoids category will hold a major share of the global Plant Based API market in 2022. Because of its high amount of antioxidants and good anti-inflammatory properties, the flavonoid market has remained stable in recent years. It is one of the best on the market. Plant flavonoids have potential medicinal uses, which has led to their increased use in the pharmaceutical and nutraceutical businesses. Consumer demand for nutraceuticals is consequently driving the worldwide flavonoid market. Furthermore, the growing demand for convenience foods has expanded the usage of flavonoids in functional foods.
The herbal-based industries segment is projected to grow rapidly in the global Plant Based API market. Herbal treatments are used as alternative medicines in herbal therapy. They treat or prevent ailments, relieve symptoms, increase energy, relax, or lose weight. Herbs, unlike medicines, are not subjected to rigorous testing and regulation. Herbal medications are mostly used to treat chronic diseases and promote health. Still, their popularity is growing despite ineffective modern medicine for serious illnesses such as advanced cancer or new infectious diseases. This increased demand for herbal medication would broaden the worldwide market and open doors for other sellers to meet comparable demands. ,
The North America Plant Based API market is expected to register the highest market share in revenue soon. Substantial market participants, significant healthcare spending, and early product availability influence the market in North America. Furthermore, the U.S.'s vast patient population and rising supply of active pharmaceutical ingredients (API) fuel the industry there. The U.S. administration supports the creation of plant-based APIs by sponsoring and awarding research grants. In a similar vein, Canada is funding the creation of plant-based APIs. The nation is concentrating on creating new technologies to extract plant-based APIs effectively. The Canadian government is awarding funds to scientists and beginning to encourage the development of the market for plant-based APIs.
In addition, Asia Pacific is projected to grow at a rapid rate. One of the top nations for the manufacture of herbal medicines is China. Currently, China is concentrating on creating plant-based APIs for the pharmaceutical sector. The market in the region is boosted by favorable government initiatives, changing lifestyles that lead to the emergence of diseases, an increase in R&d expenditures, and technological innovations in drug production processes.
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Report Attribute |
Specifications |
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Growth rate CAGR |
CAGR of 7.49% from 2023 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Type And Application |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
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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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Plant Based API Market Snapshot
Chapter 4. Global Plant Based API Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis
5.1. by Product Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Product Type:
5.2.1. Alkaloids
5.2.2. Anthocyanins
5.2.3. Flavonoids
5.2.4. Phenolic Acids
5.2.5. Terpenoids
5.2.6. Lignans and Stilbenes
5.2.7. Others
Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis
6.1. by Application & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:
6.2.1. Pharmaceuticals
6.2.2. Nutraceuticals
6.2.3. Herbal Based Industries
6.2.4. Others
Chapter 7. Plant Based API Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
7.1.2. North America Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.1.3. North America Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
7.2. Europe
7.2.1. Europe Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
7.2.2. Europe Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.2.3. Europe Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
7.3. Asia Pacific
7.3.1. Asia Pacific Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
7.3.2. Asia Pacific Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.3.3. Asia Pacific Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
7.4. Latin America
7.4.1. Latin America Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
7.4.2. Latin America Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.4.3. Latin America Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
7.5. Middle East & Africa
7.5.1. Middle East & Africa Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
7.5.2. Middle East & Africa Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.5.3. Middle East & Africa Plant Based API Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. Roquette Frères SA
8.2.2. EVONIK Industries
8.2.3. AG, Cargill, Inc
8.2.4. Kothari Phytochemicals & Industries Ltd
8.2.5. Medi pure Pharmaceuticals Inc.
8.2.6. Centro flora Group
8.2.7. Arborist, LLCs, BASF S
8.2.8. Novartis AG
8.2.9. Sanofi SA
8.2.10. GlaxoSmithKline, plc,
8.2.11. Hoffmann-La Roche AG
8.2.12. Other Prominent Players
Plant Based API Market, By Type:
Plant Based API Market, By Application:
By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
