Plant-based API Market Size, Share & Trends Analysis Report By Molecule Type (Alkaloids, Anthocyanins, Flavonoids, Phenolic Acid), End-Users, By Region, And Segment Forecasts, 2022 To 2030

Plant based API belongs to class of phytochemicals that are derived from plants. The growth of the market is attributed to the increasing adoption of plant extract ingredients in pharmaceutical and food & beverage industry. A number of plants are under observation and are studied to be used in treatment of various diseases since a long period of time as medicine for health care. Moreover, the rise of ayurvedic products aided with the rising consumption of phytochemicals in personal care industry is further propelling the growth of the plant based API market.

A major driver for market growth is the presence of secondary metabolites and enhancement of brain function. Plant based API are extensively used for modification of central nervous system functions. It is studied that most plant-based chemicals and extracts have greater efficacy in treating psychiatric disorders. Several phytochemicals/extracts are seen to provide promising results in treatment of various CNS disorders. However, the most prevalent group of phytochemicals include terpenes, alkaloids, and phenolic compounds. Alkaloid class of plant-based API market is expected to dominate the molecule type market in 2022. The dominance of the segment is attributed to the use of alkaloids metabolites as psychotropic medicines, social drugs, or hallucinogens. Some of the commonly used alkaloids include atropine, caffeine, cocaine, ephedrine, and nicotine.

The surge in consumption of traditional medicines or ayurvedic drugs is further giving rise to natural plant ingredients and API. India has many small, medium, and large-scale manufacturers that are focusing on expanding their manufacturing capabilities for medicinal and personal care 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.

North America dominated the overall market in 2022 which can be attributed to the growing geriatric population and rising awareness among the population regarding health. Nutraceuticals are consumed in U.S. owing to the claims of preventing chronic diseases that helps in delaying aging process preventing chronic diseases that further improves health. For instance, in June 2022, Antheia received financing of USD 40 million from Oxford Finance LLC and Silicon Valley Bank for development of biomanufacturing facility for plant-based compounds. This initiative is expected to boost the company’s product’s portfolio significantly improving the efficiency of product manufacturing and increasing scarce in U.S.

Plant Based API Market Segmentation

Major companies operating in the market include Centroflora, Arboris, Cargill, Incorporated, BASF SE, SeQuent, Kothari Phytochemicals & Industries Ltd, Roquette Frères, Indo Phytochem Pharmaceuticals., Medipure Pharmaceuticals Inc., Brains (Brains Bioceutical), HimPharm.com., Evonik Industries AG. These players are focusing on geographical expansion and product launches to maintain their presence in the market. For instance, in December 2022, Evonik launched PhytoSquene, a plant-basedsqualene. The launch is expected to provide a suitable alternative for squalene derived from shark liver oil further boosting vaccine efficacy.