USD 398.09 million
Report ID: SQSG35I2025 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 89 | Figures: 76
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 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.
Global Market Size
USD 398.09 million
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The Global Melatonin Market is segmented based on type, application, form, and region. Based on type, the market is segmented into natural melatonin and synthetic melatonin. Based on application, the market is segmented into medical, dietary supplements, construction, and other applications. Based on forms, the market is segmented into pills, chewable, and liquid syrup. Based on region, the global Melatonin market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Melatonin Market Analysis by Type
The melatonin is segmented into natural melatonin and synthetic melatonin based on the types. Natural melatonin dominates the segment with a major market portion of the global melatonin market and is predicted to retain the domination during the analysis period too. Natural melatonin has natural characteristics, and doctors recommend it for restlessness, jet lag, and fast-eye movement disorders, among other things. Synthetic melatonin is inspected by the Food and Drug Administration (FDA) as a food supplement, not a pharmaceutical. As a result, we can get melatonin without a prescription at medical stores and natural food stores. These supplements are available as a pill, liquid, chewable, or lozenge. According to experts, long-term use of synthetic melatonin in one of the following forms is safe when used as advised.
Melatonin Market Analysis by Forms
In 2021, the global melatonin market was dominated by melatonin pills as it is the most recommended by doctors and will continue to do the same during the forecast period. The global melatonin market is segmented into pills, chewable, and liquid syrup forms for their consumption. As most medicines are present in the form of pills due to easy availability in market stores and to consume pills this segment accounts for the largest market share. The chewable segment of melatonin are growing faster for since few years and due to changing preferences and increasing demand, it is predicted to show huge growth in the chewing forms of melatonin during the analysis period.
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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.
The Asia Pacific is expected to show tremendous growth during the forecast period due to increasing industrialization and with more disposable income in the developing countries, the changing lifestyle and food habits are major reasons for growing insomnia cases. Therefore, the following reason will drive the demand for melatonin demand in the region and propel the melatonin market growth during the analysis period.
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Melatonin Market Driver
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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.
Melatonin Market Top Player’s Company Profiles
Melatonin Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, 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.
|Market size value in 2021||USD 398.09 million|
|Market size value in 2030||USD 437.9 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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For the Global Melatonin Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Melatonin Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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