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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