The Latin America, Middle East and Africa Plant-based API Market would witness market growth of 9.9% CAGR during the forecast period (2023-2030).
The demand for plant-based APIs is increasing because of the preference for herbal medicines. In herbal therapy, herbal remedies are utilized in place of conventional pharmaceuticals. They alleviate symptoms, treat or prevent illnesses, boost energy, unwind, or reduce weight. Unlike medications, herbs are not subject to strict testing and regulation. In the coming years, the demand for herbal medicines would expand, and vendors would have opportunities to address equivalent requests.
Extraction, exploration, as well as screening of biological diversity, such as herbs, spices, microbes, and other natural resources, have evolved into essential practices around the region. The pharmaceutical industry has widely used phytochemicals, naturally occurring bioactive compounds produced from diverse plant parts, to develop several drugs for the treatment of various ailments. Phytochemicals are principally responsible for biological activities. Today, it is discovered that over 100 active compounds used in medications and treatments come from plants.
According to the Export.Gov, 59.4% of the pharmaceutical products purchased in the Gulf region are from the Kingdom of Saudi Arabia. Both the public and private sectors were strongly encouraged to grow the life sciences sector in general and the pharmaceuticals sector in particular by Saudi Arabia's Vision 2030 and the NTP's targets for job creation as well as economic diversification. The Kingdom's expanding population, the rise in healthcare spending per capita, and the tendency to favor research-based medicines over more expensive patented items are the main factors influencing the pharmaceutical business. In recent years, the government's initiatives to reduce pharmaceutical spending and support local manufacturing led to a quick expansion of the generics sector. Due to these factors, the regional market will develop expeditiously in the coming years.
The Brazil market dominated the LAMEA Plant-based API Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $921.8 million by 2030. The Argentina market is anticipated to showcase a CAGR of 10.5% during (2023 - 2030). Additionally, The UAE market would witness a CAGR of 9.6% during (2023 - 2030).
Based on End-use, the market is segmented into Pharmaceuticals, Nutraceuticals, and Herbal Based Industries & Others. Based on Molecule Type, the market is segmented into Alkaloids, Anthocyanin, Flavonoids, Phenolic Acids, Lignin & Stilbenes, Terpenoids, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Plant-based API Market is Projected to reach USD 42.6 Billion by 2030, at a CAGR of 5.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.
Scope of the Study
Market Segments Covered in the Report:
By End-use
- Pharmaceuticals
- Nutraceuticals
- Herbal Based Industries & Others
By Molecule Type
- Alkaloids
- Anthocyanin
- Flavonoids
- Phenolic Acids
- Lignin & Stilbenes
- Terpenoids
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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.
- HimPharm
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Plant-based API Market, by End-use
1.4.2 LAMEA Plant-based API Market, by Molecule Type
1.4.3 LAMEA Plant-based API Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. LAMEA Plant-based API Market by End-use
3.1 LAMEA Pharmaceuticals Market by Country
3.2 LAMEA Nutraceuticals Market by Country
3.3 LAMEA Herbal Based Industries & Others Market by Country
Chapter 4. LAMEA Plant-based API Market by Molecule Type
4.1 LAMEA Alkaloids Market by Country
4.2 LAMEA Anthocyanin Market by Country
4.3 LAMEA Flavonoids Market by Country
4.4 LAMEA Phenolic Acids Market by Country
4.5 LAMEA Lignin & Stilbenes Market by Country
4.6 LAMEA Terpenoids Market by Country
4.7 LAMEA Others Market by Country
Chapter 5. LAMEA Plant-based API Market by Country
5.1 Brazil Plant-based API Market
5.1.1 Brazil Plant-based API Market by End-use
5.1.2 Brazil Plant-based API Market by Molecule Type
5.2 Argentina Plant-based API Market
5.2.1 Argentina Plant-based API Market by End-use
5.2.2 Argentina Plant-based API Market by Molecule Type
5.3 UAE Plant-based API Market
5.3.1 UAE Plant-based API Market by End-use
5.3.2 UAE Plant-based API Market by Molecule Type
5.4 Saudi Arabia Plant-based API Market
5.4.1 Saudi Arabia Plant-based API Market by End-use
5.4.2 Saudi Arabia Plant-based API Market by Molecule Type
5.5 South Africa Plant-based API Market
5.5.1 South Africa Plant-based API Market by End-use
5.5.2 South Africa Plant-based API Market by Molecule Type
5.6 Nigeria Plant-based API Market
5.6.1 Nigeria Plant-based API Market by End-use
5.6.2 Nigeria Plant-based API Market by Molecule Type
5.7 Rest of LAMEA Plant-based API Market
5.7.1 Rest of LAMEA Plant-based API Market by End-use
5.7.2 Rest of LAMEA Plant-based API Market by Molecule Type
Chapter 6. Company Profiles
6.1 BASF SE
6.1.1 Company Overview
6.1.2 Financial Analysis
6.1.3 Segmental and Regional Analysis
6.1.4 Research & Development Expense
6.1.5 SWOT Analysis
6.2 Cargill, Incorporated
6.2.1 Company Overview
6.3 Evonik Industries AG (RAG-Stiftung)
6.3.1 Company Overview
6.3.2 Financial Analysis
6.3.3 Segmental and Regional Analysis
6.3.4 Research & Development Expenses
6.3.5 Recent strategies and developments:
6.3.5.1 Product Launches and Product Expansions:
6.3.5.2 Acquisition and Mergers:
6.4 Roquette Freres SA
6.4.1 Company Overview
6.5 Arboris, LLC
6.5.1 Company Overview
6.6 Centroflora Group
6.6.1 Company Overview
6.7 Kothari Phytochemicals & Industries Ltd.
6.7.1 Company Overview
6.7.2 Financial Analysis
6.7.3 Segmental and Regional Analysis
6.8 Brains Bioceutical Corp.
6.8.1 Company Overview
6.9 Indo Phytochem Pharmaceuticals
6.9.1 Company Overview
6.10. HimPharm
6.10.1 Company Overview
TABLE 1 LAMEA Plant-based API Market, 2019 - 2022, USD Million
TABLE 2 LAMEA Plant-based API Market, 2023 - 2030, USD Million
TABLE 3 LAMEA Plant-based API Market by End-use, 2019 - 2022, USD Million
TABLE 4 LAMEA Plant-based API Market by End-use, 2023 - 2030, USD Million
TABLE 5 LAMEA Pharmaceuticals Market by Country, 2019 - 2022, USD Million
TABLE 6 LAMEA Pharmaceuticals Market by Country, 2023 - 2030, USD Million
TABLE 7 LAMEA Nutraceuticals Market by Country, 2019 - 2022, USD Million
TABLE 8 LAMEA Nutraceuticals Market by Country, 2023 - 2030, USD Million
TABLE 9 LAMEA Herbal Based Industries & Others Market by Country, 2019 - 2022, USD Million
TABLE 10 LAMEA Herbal Based Industries & Others Market by Country, 2023 - 2030, USD Million
TABLE 11 LAMEA Plant-based API Market by Molecule Type, 2019 - 2022, USD Million
TABLE 12 LAMEA Plant-based API Market by Molecule Type, 2023 - 2030, USD Million
TABLE 13 LAMEA Alkaloids Market by Country, 2019 - 2022, USD Million
TABLE 14 LAMEA Alkaloids Market by Country, 2023 - 2030, USD Million
TABLE 15 LAMEA Anthocyanin Market by Country, 2019 - 2022, USD Million
TABLE 16 LAMEA Anthocyanin Market by Country, 2023 - 2030, USD Million
TABLE 17 LAMEA Flavonoids Market by Country, 2019 - 2022, USD Million
TABLE 18 LAMEA Flavonoids Market by Country, 2023 - 2030, USD Million
TABLE 19 LAMEA Phenolic Acids Market by Country, 2019 - 2022, USD Million
TABLE 20 LAMEA Phenolic Acids Market by Country, 2023 - 2030, USD Million
TABLE 21 LAMEA Lignin & Stilbenes Market by Country, 2019 - 2022, USD Million
TABLE 22 LAMEA Lignin & Stilbenes Market by Country, 2023 - 2030, USD Million
TABLE 23 LAMEA Terpenoids Market by Country, 2019 - 2022, USD Million
TABLE 24 LAMEA Terpenoids Market by Country, 2023 - 2030, USD Million
TABLE 25 LAMEA Others Market by Country, 2019 - 2022, USD Million
TABLE 26 LAMEA Others Market by Country, 2023 - 2030, USD Million
TABLE 27 LAMEA Plant-based API Market by Country, 2019 - 2022, USD Million
TABLE 28 LAMEA Plant-based API Market by Country, 2023 - 2030, USD Million
TABLE 29 Brazil Plant-based API Market, 2019 - 2022, USD Million
TABLE 30 Brazil Plant-based API Market, 2023 - 2030, USD Million
TABLE 31 Brazil Plant-based API Market by End-use, 2019 - 2022, USD Million
TABLE 32 Brazil Plant-based API Market by End-use, 2023 - 2030, USD Million
TABLE 33 Brazil Plant-based API Market by Molecule Type, 2019 - 2022, USD Million
TABLE 34 Brazil Plant-based API Market by Molecule Type, 2023 - 2030, USD Million
TABLE 35 Argentina Plant-based API Market, 2019 - 2022, USD Million
TABLE 36 Argentina Plant-based API Market, 2023 - 2030, USD Million
TABLE 37 Argentina Plant-based API Market by End-use, 2019 - 2022, USD Million
TABLE 38 Argentina Plant-based API Market by End-use, 2023 - 2030, USD Million
TABLE 39 Argentina Plant-based API Market by Molecule Type, 2019 - 2022, USD Million
TABLE 40 Argentina Plant-based API Market by Molecule Type, 2023 - 2030, USD Million
TABLE 41 UAE Plant-based API Market, 2019 - 2022, USD Million
TABLE 42 UAE Plant-based API Market, 2023 - 2030, USD Million
TABLE 43 UAE Plant-based API Market by End-use, 2019 - 2022, USD Million
TABLE 44 UAE Plant-based API Market by End-use, 2023 - 2030, USD Million
TABLE 45 UAE Plant-based API Market by Molecule Type, 2019 - 2022, USD Million
TABLE 46 UAE Plant-based API Market by Molecule Type, 2023 - 2030, USD Million
TABLE 47 Saudi Arabia Plant-based API Market, 2019 - 2022, USD Million
TABLE 48 Saudi Arabia Plant-based API Market, 2023 - 2030, USD Million
TABLE 49 Saudi Arabia Plant-based API Market by End-use, 2019 - 2022, USD Million
TABLE 50 Saudi Arabia Plant-based API Market by End-use, 2023 - 2030, USD Million
TABLE 51 Saudi Arabia Plant-based API Market by Molecule Type, 2019 - 2022, USD Million
TABLE 52 Saudi Arabia Plant-based API Market by Molecule Type, 2023 - 2030, USD Million
TABLE 53 South Africa Plant-based API Market, 2019 - 2022, USD Million
TABLE 54 South Africa Plant-based API Market, 2023 - 2030, USD Million
TABLE 55 South Africa Plant-based API Market by End-use, 2019 - 2022, USD Million
TABLE 56 South Africa Plant-based API Market by End-use, 2023 - 2030, USD Million
TABLE 57 South Africa Plant-based API Market by Molecule Type, 2019 - 2022, USD Million
TABLE 58 South Africa Plant-based API Market by Molecule Type, 2023 - 2030, USD Million
TABLE 59 Nigeria Plant-based API Market, 2019 - 2022, USD Million
TABLE 60 Nigeria Plant-based API Market, 2023 - 2030, USD Million
TABLE 61 Nigeria Plant-based API Market by End-use, 2019 - 2022, USD Million
TABLE 62 Nigeria Plant-based API Market by End-use, 2023 - 2030, USD Million
TABLE 63 Nigeria Plant-based API Market by Molecule Type, 2019 - 2022, USD Million
TABLE 64 Nigeria Plant-based API Market by Molecule Type, 2023 - 2030, USD Million
TABLE 65 Rest of LAMEA Plant-based API Market, 2019 - 2022, USD Million
TABLE 66 Rest of LAMEA Plant-based API Market, 2023 - 2030, USD Million
TABLE 67 Rest of LAMEA Plant-based API Market by End-use, 2019 - 2022, USD Million
TABLE 68 Rest of LAMEA Plant-based API Market by End-use, 2023 - 2030, USD Million
TABLE 69 Rest of LAMEA Plant-based API Market by Molecule Type, 2019 - 2022, USD Million
TABLE 70 Rest of LAMEA Plant-based API Market by Molecule Type, 2023 - 2030, USD Million
TABLE 71 Key Information – BASF SE
TABLE 72 Key Information – Cargill, Incorporated
TABLE 73 Key Information – Evonik Industries AG
TABLE 74 key Information – Roquette Freres SA
TABLE 75 Key Information – Arboris, LLC
TABLE 76 Key Information – Centroflora Group
TABLE 77 Key Information – Kothari Phytochemicals & Industries Ltd.
TABLE 78 Key Information – Brains Bioceutical Corp.
TABLE 79 Key Information – Indo Phytochem Pharmaceuticals
TABLE 80 Key Information – HimPharm
List of Figures
FIG 1 Methodology for the research
FIG 2 LAMEA Plant-based API Market share by End-use, 2022
FIG 3 LAMEA Plant-based API Market share by End-use, 2030
FIG 4 LAMEA Plant-based API Market by End-use, 2019 - 2030, USD Million
FIG 5 LAMEA Plant-based API Market share by Molecule Type, 2022
FIG 6 LAMEA Plant-based API Market share by Molecule Type, 2030
FIG 7 LAMEA Plant-based API Market by Molecule Type, 2019 - 2030, USD Million
FIG 8 LAMEA Plant-based API Market share by Country, 2022
FIG 9 LAMEA Plant-based API Market share by Country, 2030
FIG 10 LAMEA Plant-based API Market by Country, 2019 - 2030, USD Million
FIG 11 SWOT Analysis: BASF SE