New report published by QY Research which offers insights on the global Saw Palmetto Berries market. The Saw Palmetto Berries market has been experiencing steady growth graph since past years. The global saw palmetto berries market is valued at USD 101.6 million in 2016 and is expected to reach USD 135.3 million by the end of 2023, growing at a CAGR of 4.18% between 2016 and 2023.
Saw palmetto berries are the fruit of Serenoa repens. Saw palmetto (Serenoa repens) grows wild in Florida and other parts of the southeastern United States; the berries have been harvested and used for prostate support for almost 140 years. USA is the sole origin of saw palmetto berries. Market insiders think that saw palmetto berries from others regions is not authentic.
In 2016, the global sale volume of saw palmetto berries was 6410 MT, and is anticipated to reach 6658 MT in 2023. In terms of sale revenue, the global saw palmetto berries was valued 101.61 million USD in 2016, and is anticipated to reach 135.34 million USD in 2023. Since more and more saw palmetto has been used in the treatment of disturbances due to Benign Prostate Hypertrophy (BPH) including reduction of urinary frequency, increase of urinary flow, and decrease of nocturia, market participants are optimistic on the future market of the whole saw palmetto industry.
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Global Saw Palmetto Berries Market: Market Driver and Restraint
Applications of Saw Palmetto Berries are anticipated to create new business segments in the market. Saw Palmetto Berries is in use for a broad range of pharmaceutical industry and dietary supplement.
As men grow older, many experience declining prostate health that significantly affects their lifestyle and well-being. One of the most common conditions threatening the prostate gland is benign prostatic hypertrophy. This swelling of the prostate gland can lead to myriad symptoms such as increased urinary frequency, weak urinary stream, and difficulty initiating urination. For over 200 years, saw palmetto has been used to prevent and improve the symptoms associated with benign prostatic hypertrophy in men.
Dried saw palmetto berries can be processed into saw palmetto extract, which is used to produce medicine to treat benign prostatic hypertrophy.
Global Saw Palmetto Berries Market: Forecast by Region
There is no doubt that USA is the largest producer of dried saw palmetto berries since fresh saw palmetto berries just have a few days’ expiration date. Companies from other countries are impossible to treat the fresh saw palmetto berries since fresh saw palmetto berries will go decayed on the way of transportation.
USA is also the largest consumer of saw palmetto berries with 3,594 MT being consumed in the year of 2016. Europe is the follower with 40.87% consumption share in the same year.
Global Saw Palmetto Berries Market: Key Players
Saw Palmetto Harvesting Company, Prostate RX and Valensa are the key vendors included in this report.
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