Melatonin Supplements Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Melatonin Supplements Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Melatonin Supplements Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the melatonin supplements market are focusing on developing innovative products, such as sleep aid gummies, to enhance and optimize the sleep experience. Sleep aid gummies are chewable supplements formulated to help individuals improve their sleep quality. These gummies typically contain melatonin, a hormone naturally produced by the body to regulate sleep-wake cycles. For instance, in April 2021, Natrol LLC, a US-based company manufacturing vitamins and supplements, announced the launch of Natrol Sleep+, a line of innovative sleep aid gummies. These gummies are drug-free sleep and uniquely blend melatonin with secondary ingredients, promoting immune health, calmness, and beauty benefits, enhancing your sleep experience. These innovative sleep aid gummies are non-GMO, vegetarian-friendly, and gelatin-free. They also lack synthetic dyes, artificial flavors, sweeteners, and preservatives.
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
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Regional Insights –
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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Melatonin Supplements Market Report Structure
3. Melatonin Supplements Market Trends And Strategies
4. Melatonin Supplements Market – Macro Economic Scenario
5. Melatonin Supplements Market Size And Growth
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27. Melatonin Supplements Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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