Saw Palmetto Supplement Market Accelerates at 8.7% CAGR to Hit US$ 358.5 Million by 2034: Fact.MR Report

Rockville, April 23, 2024 (GLOBE NEWSWIRE) -- Sales of saw palmetto supplements across the world are projected to reach US$ 156.3 million in 2024, as stated in a new study published by Fact.MR, a market research and competitive intelligence provider. The global saw palmetto supplement market is forecasted to advance at a CAGR of 8.7% from 2024 to 2034.

Rising incidence of health issues along with increasing health consciousness is projected to increase demand for saw palmetto supplements due to their natural extraction. In addition, the growing use of these supplements to support reproductive systems is also forecasted to foster market growth. Saw palmetto aids in enhancing digestion and minimizing bodily inflammation, which is expected to promote better health. Moreover, increasing investment in R&D activities for the production of more effective supplements is set to stimulate demand for saw palmetto supplements.

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Segmentation of Saw Palmetto Supplement Market Research

Saw palmetto supplements are rich sources of plant sterols, flavonoids, and fatty acids, which is forecasted to propel their demand among health-conscious consumers more. As an herbal supplement, saw palmetto supplements are estimated to fit well into the preferences of more consumers.

Key Takeaway from Market Study

• Worldwide demand for saw palmetto supplements is poised to reach a market valuation of US$ 156.3 million in 2024.
• The global saw palmetto supplement market is set to reach US$ 358.5 million by the end of 2034.
• The market is projected to expand at a CAGR of 8.7% from 2024 to 2034.
• The North American region is forecasted to hold 27.2% share of the global market by 2034.
• Global demand for capsule-based saw palmetto supplements is approximated to increase at a CAGR of 8.1% and reach a value of US$ 90 million by 2034-end.
• Sales of saw palmetto supplements in South Korea are projected to rise at a CAGR of 10.7% from 2024 to 2034.

“Growing demand for saw palmetto supplements attributed to their associated health benefits, rising preference of more consumers for natural remedies, and their easy availability and accessibility,” says a Fact.MR analyst.

Growing Demand for Saw Palmetto Supplements in Japan With Higher Life Expectancies

Demand for saw palmetto supplements in Japan is set to expand at a CAGR of 10.3% from 2024 to 2034. The higher life expectancies of people in Japan are projected to increase demand for saw palmetto supplements for their natural origin. In addition, rising incidences of urinary tract infections and benign prostatic hyperplasia are projected to make Japan a prospective market for players.

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Growing Consumption of Capsule-based Saw Palmetto Supplements

Saw palmetto supplements in capsule form are projected to hold a 25.21% share of global market revenue by 2034-end. They are manufactured from saw palmetto plant extract and sold as one of the most popular dietary supplements. The high bioavailability of capsules in comparison to other supplement forms is estimated to make them more efficient. In addition, the outer layers of saw palmetto capsules are vegan-friendly as they are produced from cellulose sourced from vegetables. These capsules are consumed against the treatment of prostrate-related problems and urinary tract infections and are entirely plant-based.

Convenience and Accessibility of Pharmacies Contributing to Increased Saw Palmetto Supplement Sales

Pharmacies provide convenience to consumers to purchase saw palmetto supplements and are forecasted to hold a 36.5% share of the global market by 2034. These stores serve as effective outlets where individuals are estimated to get easy access to recommended supplements. In addition, pharmacies are believed to be more trusted sources for purchasing healthcare products. More consumers feel confident purchasing saw palmetto supplements from pharmacies owing to the assurance of reliability and quality of these establishments.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the saw palmetto supplement market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights into the market based on form (caplets, capsules, drops, gummies, powder, softgel, tablets) and distribution channel (supermarkets, pharmacies, online retailers, and others), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).

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Plant Based Supplement Market: Rise in demand of meat alternatives, increased vegan population and increased awareness around the benefits of proteins, and protein rich diet has been aiding in the increasing demand of Plant Based Supplements Market in recent years.

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