New York, March 31, 2023 (GLOBE NEWSWIRE) -- The Saw Palmetto Supplements Market revenues were estimated at US$ 127 Million in 2022 and are anticipated to grow at a CAGR of 8.2% from 2023 to 2033, according to a recently published Persistence Market Research report. By the end of 2033, the market is expected to reach a valuation of US$ 309 Million.
The market in the U.S. is expected to register an absolute dollar opportunity of US$ 82.8 Million from 2023 to 2033.
Saw palmetto is a native tree of the United States which is used for its medicinal benefits since ancient times. The fruits of this plant are a rich source of plant sterols, flavonoids, and fatty acids which plays a prominent role in the treatment of urinary tract infection and prostate-related diseases.
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Saw palmetto supplements are available in various forms such as caplets, capsules, tablets, gummies, Softgel, and drops. These are made from the extract obtained from the fruits and are completely plant-based. Among these, capsule-based saw palmetto supplements contribute significantly to the market due to their high absorption rate and high bioavailability.
Saw palmetto has its key application in the treatment of benign prostatic hyperplasia, which is a condition of an enlarged prostate, in urinary tract infection, and to prevent hair loss. Around 94 million cases of benign prostatic hyperplasia were reported globally in 2019 compared to 51.1 million instances in 2000.
There is an increasing prevalence of this disease due to changing lifestyles and eating habits. If not treated on time it may sometimes lead to prostate cancer. Prostate cancer contributes to about 26% of all cancer in the U.K. alone. Benign prostatic hyperplasia affects around 50% of men between the ages of 51 and 60, 70% of men between the ages of 60 and 69, and about 80% of men over the age of 70. Countries like China and Japan which have grey populations increasing at a staggering rate can be prospective markets for saw palmetto supplements.
Competitive Analysis:
Key players in the Saw Palmetto Supplements market are Now Foods, Nature's Bounty, Puritan's Pride, Nature's Way, Havasu nutrition, Nature’s Craft, Horbäach, Doctor's Best, Swanson Health Products, and Nutricost.
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Some of the recent developments in the Saw Palmetto Supplements market are:
- In October 2020, Gaia Herbs, a herbal products supplier merged its subsidiary Gaia Herbs BV with a prominent German herbal products provider Via Maris GmbH. The aim of this merger was to expand its market in Europe. After this merger, they built a new pre-packaging plant and an ultra-modern cooling facility. This has strengthened their position in the market.
More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the Saw Palmetto Supplements market, presenting historical market data (2018-2022) and forecast statistics for the period from 2023 to 2033.
The study reveals extensive growth in Saw Palmetto Supplements in terms of
- Form (Caplet, Capsule, Drop, Gummy, Powder, Softgel, Tablet),
- Distribution Channel (Supermarkets, Pharmacies, Online Retailers, Others),
- End-Use (Men, Women),
- Region (North America, Europe, APAC, MEA, Latin America) – 2023 to 2033
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About Food & Beverage Division at Persistence Market Research
The Food & Beverage team at Persistence Market Research provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
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