by Melatonin is a hormone that regulates sleep-wake cycles. It is naturally produced by the pineal gland in humans and helps induce sleep. With increasing stressful lifestyles and rise in sleep disorders, demand for melatonin supplements to induce or regulate sleep has grown significantly. Melatonin supplements come in different forms including tablets, capsules, gummies and liquids. They provide an easy and convenient way to boost melatonin levels in the body and promote better quality of sleep.
The global Melatonin Market is estimated to be valued at Us$ 576.85 Mn in 2023 and is expected to exhibit a CAGR Of 7.2% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the melatonin market is rising adoption among the elderly population. As age advances, melatonin production in the body decreases, making it difficult to fall asleep. Melatonin supplements help overcome age-related decline in melatonin levels and promote better quality of sleep in older adults. Furthermore, research studies have highlighted various health benefits of melatonin supplementation such as reduced risk of heart disease, enhanced immunity and slowed tumor growth. This is encouraging more people to use melatonin products not just for sleep but overall health and wellness. Additionally, introduction of innovative delivery forms such as gummies and chewable tablets have made melatonin intake more convenient. This has positively influenced product adoption especially among children and individuals facing difficulty swallowing pills.
Porter’s Analysis
Threat of new entrants: The melatonin market has low threat of new entrants due to the presence of established players in the market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute products.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of raw materials.
Threat of new substitutes: Substitutes like herbal supplements, yoga and meditation pose low threat due to effectiveness of melatonin in supporting sleep.
Competitive rivalry: Intense competition exists among the key players to gain maximum market share.
Key Takeaways
The Global Melatonin Market Demand is expected to witness high growth. Regional analysis related content comprises Regional analysis related content
The North America region dominates the melatonin market and is expected to continue its dominance over the forecast period. The US accounts for the major share in the regional market owing to increasing awareness regarding sleep disorders. Europe holds the second largest market share on account of rising melatonin supplementation to treat jet lag. Asia Pacific is expected to grow at the fastest pace during the forecast period primarily due to growing geriatric population in countries like India and China.
Key players
Key players operating in the melatonin market are Natrol Inc., Neurim Pharmaceuticals Ltd., Pulse Pharmaceuticals Pvt. Ltd., Flynn Pharma Ltd., Fidia Farmaceutici S.P.A., Aspen Pharmacare Holdings Ltd., Schiff Nutrition International Inc., Solal Technologies (Pty) Ltd., Rexall Sundown, Inc., and Bebida Beverage Co.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
