According to a new report, published by KBV research, The Global Plant-based API Market size is expected to reach $42.6 billion by 2030, rising at a market growth of 5.8% CAGR during the forecast period.
The Nutraceuticals segment is showcasing a CAGR of 6.4% during (2023 - 2030). The nutraceutical segment's expansion is linked to growing knowledge of the physiological advantages of nutraceuticals in preventing chronic diseases. The ability of plant-based nutraceuticals to cure and prevent cardiovascular disease, diabetes, cancer, and obesity, as well as their abilities to fight off aging and enhance the immune system, is further increasing growth. In order to address the growing demand, prominent businesses are also concentrating on new introductions.
The Alkaloids segment acquired maximum revenue share in the Global Plant-based API Market by Molecule Type in 2022 thereby, achieving a market value of $9.5 billion by 2030. Well-known alkaloids have anesthetic, cardioprotective, as well as anti-inflammatory effects. They make up to 20% of the secondary metabolites and have a significant impact on human medicine. The segment is expanding because of the growing need for efficient medicines and the high efficacy of alkaloids in producing such effects.
The North America market dominated the Global Plant-based API Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $14 billion by 2030. The Europe market is exhibiting a CAGR of 5.6% during (2023 - 2030). Additionally, The Asia Pacific market would showcase a CAGR of 6.7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/plant-based-api-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of BASF SE, Evonik Industries AG (RAG-Stiftung), Cargill, Incorporated, Roquette Freres SA, Arboris, LLC, Centroflora Group, Kothari Phytochemicals & Industries Ltd., Brains Bioceutical Corp., Indo Phytochem Pharmaceuticals and HimPharm.
By End-use
By Molecule Type
By Geography
Companies Profiled
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