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...
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