“Global Saw Palmetto Berries Market to reach a market value of USD 242.0 Million by 2031 growing at a CAGR of 5.4%”
The Global Saw Palmetto Berries Market size is expected to reach $242.0 Million by 2031, rising at a market growth of 5.4% CAGR during the forecast period.
Functional foods are convenient for consumers who prefer to obtain health benefits through their diet rather than taking additional supplements. They fit seamlessly into daily routines, making it easier for consumers to adopt and maintain consumption of saw palmetto for prostate health. By integrating saw palmetto into functional foods, manufacturers can innovate and distinguish their products in a competitive market. Thus, the Functional Foods & Beverages segment is expected to capture more than 1/4th share in the market by the year 2031. Manufacturers can differentiate their products in a competitive market by incorporating saw palmetto into functional foods. Functional foods enriched with ingredients like saw palmetto cater to this demand by offering proactive health benefits.
Consumers have a growing preference for natural health remedies and dietary supplements over synthetic pharmaceuticals. Natural products are considered safer, with fewer side effects than conventional medications. Saw palmetto berries, known for their medicinal properties supporting prostate health and urinary function, align well with this preference. Increasing consumer awareness about saw palmetto berries' health benefits contributes to their rising popularity. Therefore, rising consumer awareness and demand for natural remedies drive the market's growth.
Moreover, As the nutraceutical industry grows, there is a heightened demand for natural and plant-based supplements. Saw Palmetto berries are valued for their potential health benefits, particularly in supporting prostate health and managing urinary symptoms. According to the Ministry of Food Processing Industry, India’s nutraceutical industry is poised to be a global leader at USD 4-5 billion and is expected to grow to approximately USD 18 billion by 2025. Similarly, as per the GTAI, total food supplement revenue in the Germany grew by 5 percent to EUR 2.6 billion in 2019. Therefore, expansion of the nutraceutical industry worldwide is driving the growth of the market.
However, saw palmetto berries are predominantly harvested from wild populations in specific regions, primarily in the southeastern United States. This reliance on wild harvesting means that the availability of the natural growth and distribution of the palms inherently limits palmetto berries. Harvesting is often restricted to specific seasons, typically late summer to early fall, when the berries are ripe, further narrowing the window for collection. Therefore, limited supply and harvesting challenges are hampering the market's growth.
Based on source, the market is divided into organic and conventional. In 2023, the organic segment garnered 54% revenue share in the market. Organic saw palmetto berries are grown without synthetic pesticides, herbicides, or fertilizers. Due to reduced exposure to potentially harmful chemicals, consumers perceive organic products as safer and healthier, making them particularly appealing to health-conscious individuals. Organic farming practices prioritize soil health, biodiversity, and water conservation.
On the basis of application, the market is segmented into dietary supplements, functional foods & beverages, and pharmaceuticals. In 2023, the functional foods & beverages segment attained 25% revenue share in the market. Food and beverage manufacturers are innovating with saw palmetto to differentiate their products and cater to health-conscious consumers. Products such as energy bars, health drinks, yogurt, and smoothies can be fortified with saw palmetto extracts to enhance their nutritional profile and appeal.
By form, the market is divided into powder, capsules & tablets, and liquid extracts. In 2023, the powder segment registered 48% revenue share in the market. Saw palmetto powder offers versatility in formulation, making it suitable for various product applications such as dietary supplements, herbal remedies, and functional foods. It can be easily incorporated into capsules, tablets, beverages, smoothies, and powdered drink mixes, allowing manufacturers to create diverse products to meet consumer needs.
Free Valuable Insights: Global Saw Palmetto Berries Market size to reach USD 242.0 Million by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 36% revenue share in the market in 2023. Saw palmetto is widely recognized for its potential benefits in supporting prostate health, particularly in managing symptoms associated with benign prostatic hyperplasia (BPH). As awareness of prostate health issues grows among aging men in North America, so does the demand for natural supplements like saw palmetto.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 161.3 Million |
| Market size forecast in 2031 | USD 242.0 Million |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.4% from 2024 to 2031 |
| Number of Pages | 338 |
| Number of Tables | 206 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Source, Application, Form, Region |
| Country scope |
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| Companies Included | Bio-Botanica, Inc., JIAHERB Inc. (Shaanxi Jiahe Phytochem Co., Ltd.), VALENSA INTERNATIONAL, Maypro, Hunan NutraMax Inc., Saw Palmetto Florida, LLC, MTC Industries, Monterey Bay Herb Co. |
By Source
By Application
By Form
By Geography
This Market size is expected to reach $242.0 Million by 2031.
Rising Consumer Awareness and Demand for Natural Remedies are driving the Market in coming years, however, Limited Supply and Harvesting Challenges restraints the growth of the Market.
Bio-Botanica, Inc., JIAHERB Inc. (Shaanxi Jiahe Phytochem Co., Ltd.), VALENSA INTERNATIONAL, Maypro, Hunan NutraMax Inc., Saw Palmetto Florida, LLC, MTC Industries, Monterey Bay Herb Co.
The expected CAGR of this Market is 5.4% from 2024 to 2031.
The Dietary Supplements segment is leading the Market by Application in 2023; thereby, achieving a market value of $113.4 million by 2031.
The North America region dominated the Market by Region in 2023; thereby, achieving a market value of $83.7 million by 2031.
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