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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).

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 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 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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Global Melatonin Market

Product ID: SQMIG35I2260