The growth of the saw palmetto berries market is driven by increasing health consciousness, rising prevalence of prostate disorders, a preference for natural remedies, expanding dietary supplement industry, and advancements in product formulations and distribution networks.
WILMINGTON, Del., June 26, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Saw Palmetto Berries Market by Form (Powder, Capsules/Tablets, Liquid Extracts), by Source (Organic, Coventional), by Application (Dietary Supplements, Functional Foods and Beverages, Pharmaceuticals): Global Opportunity Analysis and Industry Forecast, 2024-2035". According to the report, the "saw palmetto berries market" was valued at $172.4 million in 2023, and is estimated to reach $325.6 million by 2035, growing at a CAGR of 5.6% from 2024 to 2035.
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Prime determinants of growth
One of the major drivers in the saw palmetto berries market is primarily driven by increasing awareness about the health benefits of saw palmetto berries, particularly in promoting prostate health and managing urinary symptoms, fuels demand. Moreover, rising consumer preference for natural remedies and herbal supplements further propels market growth. The expanding aging population, particularly in regions like North America and Europe, contributes significantly to market expansion as these demographics are more prone to prostate-related issues. Moreover, advancements in extraction technologies and the growing availability of saw palmetto products in various forms such as capsules, extracts, and oils are enhancing market accessibility.
Report coverage & details:
Report Coverage | Details |
Forecast Period | 2024-2035 |
Base Year | 2023 |
Market Size in 2023 | $172.4 Million |
Market Size in 2035 | $325.6 Million |
CAGR | 5.6 % |
No. of Pages in Report | 282 |
Segments Covered | Form, Source, Application, And Region. |
Regional Scope?? | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa - |
Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, China, Japan, India, South Korea, Australia, Brazil, Argentina, Colombia, GCC And South Africa. |
Drivers | Health Benefits |
Increasing Demand for Organic Products | |
Natural Remedies Trend | |
Opportunities | Expansion Of Product Offerings |
Partnerships With Healthcare Professionals | |
Innovation In Formulations | |
Restraints | Limited Supply |
Competition From Synthetic Alternatives | |
Price Volatility |
The powder segment to maintain its leadership status by 2035
By form, the powder segment held the highest market share in 2023, accounting for more than two-fifths of the saw palmetto berries market revenue and is estimated to maintain its leadership status during the forecast period. Saw palmetto berry powder can be easily incorporated into various products, including capsules, tablets, teas, and functional foods, making it highly adaptable for different consumer preferences and product formulations. Its stability and ease of storage without the need for preservatives enhance its appeal to manufacturers and consumers seeking natural and convenient health solutions. Moreover, powdered extracts allow for standardized dosing, ensuring consistent potency and efficacy, which is crucial for health supplements targeting specific conditions like benign prostatic hyperplasia (BPH). The powder form also enables better absorption and bioavailability of the active compounds, further boosting its popularity.
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The organic segment to maintain its leadership status by 2035
By source, organic segment held the highest market share in 2023, accounting for more than half of the global saw palmetto berries market revenue and is estimated to maintain its leadership status during the forecast period. Rise in consumer preference for natural, chemical-free products that align with health and environmental values. Organic saw palmetto berries are cultivated without synthetic pesticides, fertilizers, or GMOs, appealing to health-conscious consumers who prioritize purity and sustainability in their supplements. This trend is particularly strong among millennials and individuals seeking clean-label products and drive the higher demand for organic options.
The dietary supplement segment to maintain its leadership status by 2023
By application, the dietary supplement segment held the highest market share in 2023, accounting for nearly half of the global saw palmetto berries market revenue and is estimated to maintain its leadership status during the forecast period. Saw palmetto supplements are widely used to manage symptoms of benign prostatic hyperplasia (BPH), making them popular among aging populations and men concerned with urinary health. The convenience and ease of consumption of dietary supplements, available in various forms such as capsules, tablets, and soft gels, cater to consumer preferences for simple and effective health solutions. Moreover, the increasing focus on preventive healthcare drives the demand for dietary supplements as consumers seek natural ways to maintain their health and well-being. The growing awareness of the benefits of saw palmetto in supporting hormonal balance and overall wellness further drives the demand for the segment.
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North America to maintain its dominance by 2035
By region, Asia-Pacific is anticipated to dominate the market with the largest share during the forecast period. North America region's native growth of the Serenoa repens palm tree, primarily found in the southeastern United States, ensures a reliable and abundant supply of high-quality saw palmetto berries. This local availability supports large-scale harvesting and production, reducing costs and ensuring product consistency. Moreover, North America has a well-established dietary supplement industry, driven by high consumer awareness and demand for natural health products. The prevalence of prostate health issues among the aging male population in the U.S. and Canada also boosts the market for saw palmetto supplements, which are widely recognized for their benefits in managing benign prostatic hyperplasia (BPH).
Leading Market Players: -
- Valensa International
- Optimized Plant Nutrients
- Naturalize Biotech Corp
- Labnica
- Bio-Botanica
- Maypro
- Jiaherb
- Hunan Nutramax,
- Xian Changyue Phytochemistry
- Atlantic Phytochemicals & Extracts
The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter's five forces analysis to determine the factors affecting market growth.
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