What is the global market size of Melatonin Market?

Melatonin Market size was valued at USD 398.09 million in 2021 and is poised to grow from USD 437.9 million in 2022 to USD 1032.54 million by 2030, growing at a CAGR of 10% in the forecast period (2023-2030).

Melatonin Market Size, Share, Growth Analysis, By Type(Natural Melatonin, Synthetic Melatonin), By Application(Medical, Dietary Supplement, Other Applications), By Forms(Pills, Chewable, Liquid Syrup), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35I2260 | Region: Global | Published Date: April, 2024
Pages: 260 | Tables: 89 | Figures: 76

Melatonin Market Insights

Melatonin Market size was valued at USD 398.09 million in 2019 and is poised to grow from USD 437.9 million in 2023 to USD 1032.54 million by 2031, growing at a CAGR of 10% in the forecast period (2024-2031).

Melatonin is the natural adrenaline the pineal gland produces to regulate the body's circadian rhythm. It is mostly released at night to regulate the sleep cycle. Melatonin supplementation is largely used to treat sleep-related diseases such as insomnia, disrupted sleep phase syndrome, jet lag, rapid eye movement, and so on. They are widely available in capsules, pills, chewable gummies, liquid, and other forms. Melatonin is a synthetic hormone found in plants, animals, microbes, and fungi. Melatonin has antioxidant qualities and is used in foods and beverages, medications, medicines, and dietary supplements.

In 2020, sales of melatonin summed more than US$ 821 million in the US which is more than doubled in the last few years. This shows the swelling demand for the product and will propel the melatonin market growth during the analysis period.

US Melatonin Market is poised to grow at a sustainable CAGR for the next forecast year.

Melatonin Market Report Snapshots

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The melatonin market is relatively fragmented, with a high level of competition. Few large players, like Pfizer, GNC, and Neurim Pharma, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'Natrol LLC (US)', 'Nature's Bounty Inc. (US)', 'NOW Foods', 'Life Extension', 'Pharmavite LLC', 'NBTY Inc.', 'Kirkland Signature (Costco Wholesale Corporation)', 'Puritan's Pride (International Vitamin Corporation)', 'GNC Holdings Inc.', 'Solgar Inc.', 'Douglas Laboratories', 'Webber Naturals Inc.', 'Source Naturals LLC', 'Sundown Naturals (NBTY Inc.)', 'Life Brand (Shoppers Drug Mart Corporation)', 'The Vitamin Shoppe', 'Schiff Nutrition International Inc.', 'Biotics Research Corporation', 'Garden of Life LLC', 'Jarrow Formulas Inc.'

Increasing disposable income and the growing number of working professionals due to industrialization and globalization are one of the major factors for increasing instances of insomnia during recent periods. This is caused by an unhealthy lifestyle and food habits which leads to increased sodium intake and is one of the direct or indirect reasons for raising blood pressure which in turn leads to symptoms of insomnia. These will drive the demand for melatonin supplements for reducing stress and insomnia which will drive the global melatonin market during the analysis period.

Melatonin is also employed in the production of bio-based spray polyurethane foam (SPF), which is used in the packing and protection of buildings. These factors would drive the Melatonin Market in the coming years.

In 2021, the North American region dominated the global melatonin market with the largest market and revenue share. The growing problem of insomnia in developed countries due to lifestyle problems and eating habits is the major reason for the growth of demand for melatonin in the united states and Canada and will drive the melatonin market growth in the region. Moreover, according to a report released by the US national library of science in 2021, more than 40% of Canadians have a minimum of one symptom of insomnia and this huge number will propel the melatonin market growth in the North American region during the analysis period.

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Melatonin Market Size, Share, Growth Analysis, By Type(Natural Melatonin, Synthetic Melatonin), By Application(Medical, Dietary Supplement, Other Applications), By Forms(Pills, Chewable, Liquid Syrup), By Region - Industry Forecast 2024-2031

Melatonin Market Insights

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