Overview and Scope
Melatonin supplements are dietary supplements that contain synthetic or naturally derived melatonin, a hormone produced by the pineal gland in the brain. These supplements are commonly used to regulate sleep-wake cycles and treat sleep disorders such as insomnia.
Sizing and Forecast
The melatonin supplements market size has grown rapidly in recent years. It will grow from $2.07 billion in 2023 to $2.37 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to the increasing incidence of sleep disorders, advances in manufacturing processes, shift towards natural remedies, expansion of distribution channels, historical globalization trends, and expansion into new geographical markets.
The melatonin supplements market size is expected to see rapid growth in the next few years. It will grow to $4.10 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to growth in e-commerce platforms, growing consumer preference for natural and herbal solutions, anticipated regulatory support and favorable policies, expanding product availability, and high-stress levels. Major trends in the forecast period include expansion of product offerings, innovations in delivery methods, integration with wellness routines, advancements in technology, and focus on efficacy and safety.
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Segmentation & Regional Insights
The melatonin supplements market covered in this report is segmented –
1) By Type: Natural Melatonin, Synthetic Melatonin
2) By Form: Tablets And Capsules, Liquid, Sublingual Pellets, Other Forms
3) By Distribution Channel: Supermarkets And Hypermarkets, Drug Stores, Online Retail, Other Distribution Channels
4) By Application: Alzheimer’s Disease, Weak Immune System, Osteoporosis, Cancer Treatment, Nerve Pain, Other Applications
5) By End User: Adults, Children
North America was the largest region in the melatonin supplements market in 2023. The regions covered in the melatonin supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising prevalence of sleep disorders is expected to propel the growth of the melatonin supplements market going forward. Sleep disorders, also known as sleep-wake disorders, encompass difficulties concerning sleep quality, timing, and duration, leading to distress and impairment in daytime functioning. The rising prevalence of sleep disorders is due to lifestyle changes, increased screen time, poor sleep hygiene, and the aging population. The melatonin supplements can supplement the body’s natural melatonin levels, helping to synchronize the body’s internal clock and promote a more regular sleep pattern, particularly for individuals with circadian rhythm disorders or jet lag. For instance, in September 2023, according to the Centraal Bureau voor de Statistiek (CBS), a Netherland-based central agency, around 22.3% of individuals aged 12 to 24 experienced sleeping difficulties in 2022, an increase from 19.4% in 2021 within the same age bracket. Therefore, the rising prevalence of sleep disorders is driving the growth of the melatonin supplements market.
Key Industry Players
Major companies operating in the melatonin supplements market are Walgreens Boots Alliance Inc., Swanson Health Products Incorporated, Vitacost.com Inc., Now Health Group Inc., The Himalaya Drug Company, Jarrow Industries Inc., Natrol Inc., Life Extension, Natural Factors Nutritional Products Inc., Robinson Pharma Inc., Country Life LLC, Pharmavite LLC, Pure Encapsulations LLC, Solgar Inc., Solaray Inc, Mason Vitamins Inc., The Nature’s Bounty Co., Optimum Nutrition Inc., Douglas Laboratories, Puritan’s Pride Inc., Nature Made, Amazing Nutrition Inc., Just Potent LLC, Source Naturals Inc., Bio-Tech Pharmacal Inc.
The melatonin supplements market report table of contents includes:
1. Executive Summary
2. Melatonin Supplements Market Characteristics
3. Melatonin Supplements Market Trends And Strategies
4. Melatonin Supplements Market – Macro Economic Scenario
5. Global Melatonin Supplements Market Size and Growth
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32. Global Melatonin Supplements Market Competitive Benchmarking
33. Global Melatonin Supplements Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Melatonin Supplements Market
35. Melatonin Supplements Market Future Outlook and Potential Analysis
36. Appendix
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