The Latin America, Middle East and Africa Saw Palmetto Berries Market would witness market growth of 7.8% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Saw Palmetto Berries Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4,514.6 Thousands by 2031. The Argentina market is capturing a CAGR of 8.6% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 7.4% during (2024 - 2031).
In the cosmetic industry, saw palmetto has the potential to inhibit the enzyme 5-alpha-reductase, which converts testosterone into dihydrotestosterone. This mechanism is believed to help maintain hair follicle health and promote hair growth, making saw palmetto a popular ingredient in hair care products.
Ongoing scientific research and clinical trials have provided evidence supporting the efficacy and safety of saw palmetto berries for various health conditions. Positive study outcomes and endorsements from healthcare professionals have bolstered consumer confidence and adoption. The market has responded to increasing demand by diversifying saw palmetto product offerings. This includes different formulations such as capsules, tablets, soft gels, liquid extracts, and powdered forms, catering to diverse consumer preferences and health needs.
Brazil has a strong cultural acceptance of natural and herbal remedies. This cultural trend supports the idea that palmetto berries are a natural solution for age-related health issues among the elderly. The incidence of chronic diseases, including BPH and other prostate-related medical conditions, is increasing due to the aging population. Saw palmetto berries are commonly used to manage these conditions, leading to higher demand among the elderly demographic. Thus, the growing elderly population and the expanding pharmaceutical sector drive the market's growth.
Free Valuable Insights: The Worldwide Saw Palmetto Berries Market is Projected to reach USD 242.0 Million by 2031, at a CAGR of 5.4%
Based on Source, the market is segmented into Organic, and Conventional. Based on Application, the market is segmented into Dietary Supplements, Functional Foods & Beverages, and Pharmaceuticals. Based on Form, the market is segmented into Powder, Liquid Extracts, and Capsules & Tablets. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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