Global Saw Palmetto Berries market is expected to reach 135.34 million USD by the end of 2023

The global Saw Palmetto Berries market is valued at 101.61million USD in 2016 and is expected to reach 135.34 million USD by the end of 2023, growing at a CAGR of 4.18% between 2016 and 2023.

Publisher: QYResearch

Published Date: 2018/8/13

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 are 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.

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 3594 MT being consumed in the year of 2016. Europe is the follower with 40.87% consumption share in the same year.

Legal picking and authenticity are the key factors for saw palmetto berries. Presently, there are still many illegal pickers and the authenticity of saw palmetto berries can’t be distinguished easily. The saw palmetto industry still needs regulations to promote the whole industry’ health development.

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