Future Market Insights projects that the Saw Palmetto Market will grow at a CAGR of 4.3% over the forecast period. The market’s value is expected to rise from USD 814.5 million in 2023 to USD 1,240.8 million by 2033. At the end of 2022, the market was valued at US$ 789.2 million.
Serenoa repens, a shrub native to the southeastern United States, produces the fruit known as saw palmetto. This fruit is used to create extracts and tonics that are praised for their potential benefits in enhancing testosterone levels. Saw palmetto extract is popular among both men and women for supporting urinary tract and reproductive health.
The extract is incorporated into a wide range of products, including nutritional supplements, traditional herbal remedies, cosmetics, and personal care items. Rich in fatty acids, flavonoids, and plant sterols, commercial saw palmetto products typically feature dried or partially dried fruit, available whole or ground into a fine powder. Bulk saw palmetto is also used to produce tinctures, teas, liquid and semi-solid extracts, and capsules.
Genetic predisposition and hair loss are often associated with the conversion of testosterone into dihydrotestosterone. As diseases become more common and health awareness rises in developed countries, there is a growing demand for health-improving and preventive products, such as dietary and nutritional supplements. This trend is fostering a positive environment for the global saw palmetto market, as the ingredient is increasingly included in supplements that support reproductive health.
The rising global demand for saw palmetto is fueled by heightened consumer awareness of its health benefits and an increase in disposable incomes.
Competitive Landscape
The saw palmetto market is becoming increasingly competitive, with new entrants striving to gain a foothold in this profitable sector. As demand for saw palmetto products grows, many companies are eager to tap into its potential. The market is currently dominated by several key players, including US-based Nature’s Way, India-based Himalaya Herbal Healthcare, and China-based Goodcare Nutraceuticals.
These leading companies offer a diverse array of saw palmetto products, including soft gels, capsules, extracts, powders, and teas. These products are used for various purposes, such as treating benign prostatic hyperplasia (BPH) or serving as natural supplements to promote overall health and reduce inflammation, particularly in menopausal women.
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
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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)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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