Global Saw Palmetto Supplements Market by Form (Caplet, Capsule, Drop, Gummy, Powder, Softgel, Tablet)
Industry: Food and Beverages
Published Date: March-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP33400
Newly-released Saw Palmetto Supplements Market analysis report by Persistence Market Research reveals that global sales of Saw Palmetto Supplements in 2022 were held at US$ 127 Million. With a projected CAGR of 8.2% from 2023 to 2033, the market is expected to reach a valuation of US$ 309 Million by the end of the forecast period. The market for Saw Palmetto Supplements in the form of Capsules is expected to gross significant revenue, projected to grow at a CAGR of over 8.1% from 2023 to 2033.
| Attributes | Details |
|---|---|
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Global Saw Palmetto Supplements Size (2023) |
US$ 141 Million |
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Global Saw Palmetto Supplements Size (2033) |
US$ 309 Million |
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Global Saw Palmetto Supplements CAGR (2023-2033) |
11.2% |
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U.S Saw Palmetto Supplements CAGR (2023 – 2033) |
7% |
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Key Companies Covered |
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As per the Saw Palmetto Supplements research by Persistence Market Research - a market research and competitive intelligence provider, historically, from 2018 to 2022, the value of Saw Palmetto Supplements increased at around 11.2% CAGR. With an absolute dollar opportunity of US$ 168 Million, the market is projected to reach a US$ 309 Million valuation by 2033.
Saw palmetto is a tree commonly found in the tropical region of the United States. It is traditionally used by Indian Americans for its health benefits. Its fruits are shown useful in the prevention or cure of the symptoms of benign prostatic hyperplasia. Saw palmetto supplements are also prescribed to prevent the complications that may occur in a prostrate surgery. Also, it is found beneficial in the treatment of male baldness, sexual dysfunction, and other prostate-related conditions.
Saw palmetto contains sterols, flavonoids, and fatty acids, which are beneficial in treating urinary tract infections and reproductive organ-related problems. They are available in many forms such as capsules, tablets, gummies, soft gel, caplets, and drops. They are distributed online as well as on offline platforms like supermarkets and pharmacies.
A urological condition known as benign prostatic hyperplasia is prevalent in elderly men. It causes the prostate glands to expand, which may result in kidney damage, a urinary tract infection, or a blockage of urine exit from the bladder.
Around 94 million cases of benign prostatic hyperplasia were reported globally in 2019 compared to 51.1 million instances in 2000. This represents a growth of roughly 70.5%. These figures show that there is a huge increase in benign prostatic hyperplasia cases. This rate is higher in middle- and low-income nations due to the fast change, they are experiencing.
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. Thus, there is a significant likelihood that these illnesses will spread as the grey population grows.
Saw palmetto capsules also promote hair growth in men and women both. Hair health has become a prominent problem nowadays with increasing pollution. People are willing to spend more on organic products because of the side effects of synthetic products. According to the International Society of Hair Restoration Surgery, around 35 million men and 21 million women in the United States have some form of hair loss.
The main causes include an active lifestyle and the use of synthetic hair products. Thus, the personal care sector can be a prospective industry for saw palmetto supplements in the coming years.
North America accounted for a market size of US$ 88.6 Million in 2022 and is projected to become a market worth US$ 215.7 Million by 2033.
The saw palmetto supplement industry in North America is growing due to the increase in demand for alternative treatments for illnesses including benign prostatic hyperplasia and hair loss. But, there is no scientific support for the hypothesis of its use in treating benign prostatic hyperplasia and other disorders, although it has gained popularity as a dietary supplement for men’s and women’s health. Nevertheless, it is anticipated that the saw palmetto supplement market in North America would remain growing due to growing consumer interest in natural and alternative health products.
United States Saw Palmetto Supplements Market Analysis:
The market in the United States is expected to grow to be worth US$ 168.2 Million by 2033, with an absolute dollar growth of US$ 82.8 Million from 2023 to 2033. The market in the country has grown at a CAGR of 9.6% from 2018 to 2022 and is expected to grow at a CAGR of 7% from 2023 to 2033.
In the United States, around 50 million men and 30 million women are affected by various types of hair loss. Hair loss has become a common problem in both men and women due to stressful life, pollution, and the use of synthetic hair products. In recent years, there is an increasing preference for herbal or plant-based products as they have no side effects, especially in developed nations. As saw palmetto products are completely plant-based they can see a rise in demand in the coming years.
United Kingdom Saw Palmetto Supplements Unit Market Analysis:
The market in the United Kingdom is expected to grow to be worth US$ 11.4 Million with an absolute dollar growth of US$ 5.8 Million from 2023 to 2033. The market in the country has grown at a CAGR of 10% from 2018 to 2022 and is expected to grow at a CAGR of 7.3% from 2023 to 2033.
In the U.K. more than 3 million men are affected by urinary tract infections which are directly associated with benign prostatic hyperplasia. The cases of benign prostatic hyperplasia have increased from 50% in men between the age group 50 to 60 years, to 90% in men who are more than 80 years of age.
Benign prostatic hyperplasia is not treated on time can lead to prostate cancer. Around 26% of all cancer in the U.K. males account for prostate cancer, which was a cause of around 12 thousand deaths. Thus, there is a need to develop new supplements to prevent this disease. If saw palmetto successfully proves its effectiveness in the treatment of benign prostatic hyperplasia, then it might see an increase in its demand.
China Saw Palmetto Supplements Market Analysis:
The market in China is expected to grow to be worth US$ 7.5 Million with an absolute dollar growth of US$ 4.4 Million from 2023 to 2033. The market in the country has grown at a CAGR of 12.7% from 2018 to 2022 and is expected to grow at a CAGR of 9.2% from 2023 to 2033.
With more than 254 million people in the age group 65 years and above, China has the largest geriatric population globally. This number is expected to increase to 402 million by 2040 which will account for about 28% of the population. Hair loss, urinary tract infection, and benign prostatic hyperplasia are common in men and women who are aged above 50.
Saw palmetto can prove to be a better alternative for the treatment of these problems than other synthetic medications. It is a dietary supplement that can be bought without a prescription from any medical store or through online platforms. Its herbal properties and easy availability will significantly lead to its demand in the market.
Japan Saw Palmetto Supplements Market Analysis:
Japan’s Saw Palmetto Supplements Market is expected to grow to be worth US$ 6.4 Million with an absolute dollar growth of US$ 3.3 Million from 2023 to 2033. The market in the country has grown at a CAGR of 10.4% from 2018 to 2022 and is expected to grow at a CAGR of 7.6% from 2023 to 2033.
As of 2021, the population of elderly people who are aged 65 and over in Japan is estimated to be around 38 million, which is approximately 30% of the total population. This number is expected to continue to grow as the country has one of the highest life expectancies in the world. More than 25% of males contribute to this age group. As benign prostatic hyperplasia and urinary tract infections are common among elder men and women, japan can be a prospective market for saw palmetto supplements.
Which form of Saw Palmetto Supplements is projected to Witness Significant Growth in the Market?
The capsule form of Saw Palmetto Supplements is projected to witness significant growth with a CAGR of 10.7% from 2018 to 2022 and is expected to grow at a CAGR of 8.1% from 2023 to 2033.
The capsules are made from the extract obtained from the fruits of saw palmetto plants. It is sold as a dietary supplement over the counter. As capsules have high bioavailability compared to other forms of supplements and also as their absorption rate is higher, they are more effective. The outer layer is vegan-friendly as it is made from cellulose obtained from vegetables. The capsules of the saw palmetto are used to treat urinary tract infections and prostrate-related problems and are also 100% plant-based. These features of the saw palmetto capsules give them an advantage over other medications.
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.
Some of the recent developments in the Saw Palmetto Supplements market are:
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The market is estimated to be valued at US$ 141 Million in 2023.
The market is expected to reach a valuation of US$ 309 Million by 2033.
The market registered a CAGR of 11.2% over the last 4 years.
The market is projected to witness a CAGR of 8.2% from 2023 to 2033.
Saw Palmetto in capsule form is expected to garner a significant value share by 2023.
The United States is projected to witness a market size of US$ 168.2 Million and is expected to grow at a 7% CAGR from 2023 to 2033.
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.
