Plant-Based API Market Poised To Hit $52 Billion By 2034, Driven By Psychedelics And Cannabinoids
The global plant-based Active Pharmaceutical Ingredient (API) market is projected to grow at a steady pace, reaching a valuation of $52.1 billion by 2034, according to a new report by Future Market Insights. The industry is expected to expand at a Compound Annual Growth Rate (CAGR) of 5.6%, fueled by rising demand for natural and sustainable pharmaceutical solutions, including psychedelics and cannabis-derived compounds.
Rising Demand For Psychedelic And Cannabis-Based Ingredients
A significant driver of market growth is the increasing use of psychoactive and plant-derived substances in modern pharmacology. Psychedelics like psilocybin and cannabinoids such as CBD and THC are gaining attention for their therapeutic potential in mental health and oncology. The U.S., a key player in the market, is leveraging biotechnological advances like CRISPR and synthetic biology to scale production of these high-demand APIs, contributing to a 4.2% CAGR.
“The global shift toward sustainable, plant-based solutions reflects both consumer interest in natural medicine and the pharmaceutical industry’s focus on alternative therapies,” said Sabyasachi …