According to the research of Future Market Insights, over the projected period, the Saw Palmetto Market is expected to expand at a CAGR of 4.3%. The industry's estimated value will increase from US$ 814.5 million in 2023 to US$ 1,240.8 million in 2033. The Saw Palmetto Market was worth US$ 789.2 million at the end of 2022.
Market Size Value in 2023
US$ 814.5 Million
Market Forecast Value in 2033
US$ 1,240.8 Million
Global Growth Rate (2023 to 2033)
4.3%
Forecast Period
2023-2033
Global Market Share of US, Germany, Japan, and Australia
72.8%
Serenoa repens, a shrub mostly found in the southeastern region of the United States, produces the fruit known as saw palmetto. Saw palmetto has been utilized to make extracts and tonics and has been hailed for its advantages in boosting testosterone levels. Both males and females have utilized saw palmetto extract for the urinary tract and reproductive systems.
The saw palmetto extract is utilized in nutritional supplements, conventional herbal medicine, cosmetics, and personal care items. It is a rich source of fatty acids, flavonoids, and plant sterols. Commercial saw palmetto preparations include dried or partially dried fruit that can be purchased whole or ground into a fine powder. Bulk saw palmetto is used to create tinctures, teas, liquid and semi-solid extracts, and capsules.
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Historical Outlook versus Future Projections for Saw Palmetto Market
With a CAGR of 3.2% between 2018 and 2022, the global market for Saw Palmetto Market expanded from US$ 695.8 Million to US$ 789.2 Million.
Genetic vulnerability and hair loss are caused by the conversion into dihydrotestosterone. The creation of more health-improving products and preventative measures, such as health supplements and nutritional supplements, is required due to the prevalence of diseases, elevated health worries, and increasing health consciousness in developed countries. A favorable environment is developing in the worldwide saw palmetto market due to the inclusion of saw palmetto in dietary supplements meant to support reproductive systems and the rising popularity of these supplements.
The demand for saw palmetto in the global market is rising as a result of rising consumer knowledge of the health advantages of saw palmetto extracts and supplements, as well as rising consumer disposable income.
With a high CAGR of 4.3% over the projected period, it is expected that the global Saw Palmetto Market would increase from US$ 814.5 million in 2023 to US$ 1,240.8 Million by 2033.
Country-wise Insights
How is the Saw Palmetto market developing in North America?
The Saw Palmetto market is blooming in North America. This native palm tree is being harvested for its various medicinal uses. From supporting prostate health to treating urinary tract infections, the Saw Palmetto berry extract has been used by many as a natural remedy. In recent years, the demand for Saw Palmetto has increased substantially due to its popularity as a dietary supplement in North America and beyond.
Sales of Saw Palmetto products are rapidly rising due to an increase in consumer awareness about the herb's therapeutic properties. Retailers have seen a surge in sales across all channels - ranging from traditional brick-and-mortar stores to online stores such as Amazon, eBay, etc., allowing them to expand their market share significantly.
How is the market for Saw Palmetto in Europe developing?
The market for saw palmetto in Europe is an ever-evolving industry. Saw palmetto, a plant found in the Southeast United States and other parts of North and Central America has long been used to treat medical conditions such as enlarged prostate glands and urinary problems. As Europe continues to show interest in the use of this herbal remedy, so too does its market growth.
As more European countries recognize the potential benefits of saw palmetto, manufacturers are increasingly turning to production models that focus on quality control and higher yields from smaller areas. This shift has allowed for a more consistent supply of high-quality raw materials for further refining into finished products for sale across Europe's multiple markets. With increased access to these materials, the demand for saw palmetto products has grown significantly over recent years.
How is the market for Saw Palmetto expanding in Asia Pacific?
Saw Palmetto is native to the coastal regions of Southeast Asia and has been used for centuries as a medicinal herb. In recent years, its popularity in traditional Eastern medicine has grown exponentially, leading to an expansion in the market for Saw Palmetto across the Asia Pacific region.
A major driving force behind this growth is due to increased awareness of the various health benefits associated with Saw Palmetto. Studies have shown that it can help treat prostate enlargement, reduce inflammation, and even regulate hormones. Its extract form is also being increasingly used in cosmetics and personal care products due to its antioxidant properties and natural skin-healing effects. As such, demand for the product continues to rise throughout Asia Pacific countries like China, Japan, South Korea, India, and Australia.
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Category Wise Insights
Why is saw palmetto powder in high demand in the market?
Saw palmetto powder is a popular herbal supplement in high demand on the market. With its potential health benefits, it has become an important part of many people's daily lives. This natural dietary supplement is derived from the berries of a small palm tree native to North America and Europe and has been used for centuries to support prostate health, urinary tract issues, hair loss prevention, and more.
The popularity of saw palmetto powder is due to its wide range of therapeutic properties. It contains compounds that can inhibit testosterone production in the body while also promoting healthy hormone levels. Additionally, it helps reduce inflammation in the body which can lead to better overall health. Saw palmetto powder also helps improve digestion by boosting digestive enzymes and balancing stomach acidity levels.
How useful is saw palmetto for making dietary supplements?
Saw palmetto is emerging as an attractive option for making dietary supplements due to its purported health benefits. This herbal extract has been used for centuries by Native Americans and other cultures, but only recently has it become popular as a nutritional supplement. With so much hype surrounding saw palmetto-based supplements, it’s important to understand the evidence behind this natural remedy.
There are several studies suggesting that saw palmetto can be useful in helping treat various conditions such as prostate enlargement, hair loss, and urinary problems. Researchers have also found that saw palmetto may reduce inflammation, support healthy cholesterol levels, and promote prostate health in men. However, there is still a need for more research to fully understand the potential benefits of taking saw palmetto-based dietary supplements.
Competitive Landscape
The competitive landscape of the saw palmetto market is heating up with new entrants vying for a share in this lucrative market. As the demand for saw palmetto products increases, many companies are looking to capitalize on its potential. There are several large players that dominate the market and have established their presence in the industry. They include US-based Nature's Way, India-based Himalaya Herbal Healthcare, and China-based Goodcare Nutraceuticals.
These major players offer a wide range of saw palmetto products such as soft gels, capsules, extracts, powders, and teas. These products can be used to treat benign prostatic hypertrophy (BPH) or as natural supplements to enhance overall health or reduce inflammation in menopausal women.
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Saw Palmetto Market Report Scope
Attribute
Details
Forecast Period
2023 to 2033
Historical Data Available for
2018 to 2022
Market Analysis
USD Mn for Value and Units for Volume
Key Regions Covered
North America
Latin America
Europe
Asia Pacific
Middle East & Africa (MEA)
Key Countries Covered
Philippines
India
Malaysia
Thailand
The US
Germany
China
Japan
Denmark
Canada
Mexico
Poland
The UK
Turkey
France
Italy
Spain
South Korea
Russia
Australia
Brazil
Argentina
South Africa
Key Segments Covered
Product Type
Form
Nature
End-use
Distribution Channel
Region
Key Companies Profiled
Nature's Way
Himalaya Herbal Healthcare
Goodcare Nutraceuticals
Monterey Bay Spice Company
MTC Industries Inc.
Saw Palmetto Berries Co-op of Florida Inc.
Valensa International
Report Coverage
DROT Analysis, Market Forecast, Company Share Analysis, Market Dynamics and Challenges, Competitive Landscape, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Segmentation of Saw Palmetto Market
On the basis of product type, the saw palmetto market can be segmented as:
Dry
Partially Dry
On the basis of form, the saw palmetto market can be segmented as:
Whole
Powder
On the basis of nature, the saw palmetto market can be segmented as:
Organic
Conventional
On the basis of end use, the saw palmetto market can be segmented as:
Dietary Supplements
Herbal Medicine
Cosmetics and Personal Care Products
On the basis of distribution channel, the saw palmetto market can be segmented as:
Direct Sales Channel/ B2B
Indirect Sales Channel/B2C
Traditional Grocery Stores
Specialty Stores
Online Retail
On the basis of region, the saw palmetto market can be segmented as:
North America
Latin America
Europe
Asia Pacific
Middle East & Africa (MEA)
Frequently Asked Questions
How big is the Saw Palmetto Market?
The Saw Palmetto market will reach nearly US$ 814.5 Million by 2023.
At what rate Saw Palmetto market is expected to grow?
The Saw Palmetto market is expected to rise at a CAGR of 4.3%.
Which are the major countries driving the demand for Saw Palmetto market?
The US, Canada, Mexico, Argentina, Brazil, Germany, the UK, France, Turkey, Italy, Russia, Spain China, Japan, India, Indonesia, South Korea, and Australia are the major countries driving the demand for the Saw Palmetto market.
At what rate will Saw Palmetto market grow in China?
China Saw Palmetto market will grow at 5.6% CAGR between 2023 and 2033.
At what rate will Saw Palmetto market grow in India?
The India Saw Palmetto market will grow at 5.8% CAGR between 2023 and 2033.
At what rate will Saw Palmetto market grow in UK?
The UK Saw Palmetto market will grow at 5.4% CAGR between 2023 and 2033.
Which companies dominate the market?
• Nature's Way
• Himalaya Herbal Healthcare
• Goodcare Nutraceuticals
• Monterey Bay Spice Company
• MTC Industries Inc.
What is the demand outlook forecast for the Saw Palmetto market?
The global demand for the Saw Palmetto market is forecasted to surpass US$ 1,240.8 Million by the year 2033.
