The anticipated size of the melatonin sleep supplements market in 2022 was USD 474 million and is estimated to be USD 508.3 million in 2023. Melatonin, a hormone is mainly used for the regulation of the sleep-wake cycle and its production is frequently used in the body where it is synthetically produced in a laboratory in the treatment of short-term treatment of insomnia.
Consisting of antioxidant properties help in the expansion of applications across different pharmaceuticals, food and beverages, and dietary supplements. According to the Future Market Insights report, the melatonin sleep supplements market is predicted to expand at a CAGR of 7.6% between 2023 and 2033, totaling around USD 1055.6 million by 2033.
Antioxidants in melatonin expand their applications across pharmaceuticals and food & beverages, broadening the melatonin sleep supplements market share. Further, the online retail industry and an increasing number of online users purchasing contribute to the melanin sleep supplement market growth.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2022) | USD 474 million |
| Projected Forecast Value (2023) | USD 508.3 million |
| Projected Forecast Value (2033) | USD 1055.6 million |
| Growth rate | 7.6% CAGR |
| Forecast period | 2023 to 2033 |
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The global melatonin sleep supplements market expanded at a CAGR of 6.7% between 2018 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 7.6% between 2023 and 2033.
60% of adults have sleep issues every night, according to the National Sleep Foundation (NSF) Sleep in America polls, pushing the demand for melatonin sleep supplements. Further, the increasing stress levels and anxiety in millennials are escalating sales of melatonin sleep supplements.
The adoption of melatonin sleep supplements reduces the side effects of chemotherapy and increases the survival period of cancer patients. Further, the increasing number of healthcare suppliers for chronic diseases and lifestyle expands the melatonin sleep supplements market size.
Several Varieties Available in Melatonin Supplements
Diversity in the types of melatonin supplements available in the market increases sales of melatonin sleep supplements. Moreover, a work-life imbalance arises in several mental conditions like insomnia, short-term anxiety, and stress, further expanding the melatonin sleep supplements market share.
The adoption of melatonin sleep supplements ensures proper and regulated sleep aiding in the prevention of cancer. Further, adverse environmental conditions and extreme screen time before bed upsurge demand for melatonin sleep supplements.
Poor eating habits cause sleep disorders to grow the global melatonin sleep supplements market share. Additionally, the option of consumption by all age groups drives the sales of melatonin sleep supplements due to common side effects.
The requirement for dietary supplements consequently grows the demand for melatonin sleep supplements. Production of progenitor cells of granulocytes and macrophages required to stimulate the immunity system escalated the sales of melatonin sleep supplements.
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Growth in the Alternative Treatments for Insomnia
Lack of awareness on supplement intake causes an overdose, curbing the global melatonin sleep supplements market share. Also, the growing alternative treatments for insomnia reduces the demand for melatonin sleep supplements.
Strict governmental rules and regulations on prescribed medications such as melatonin supplements can hinder the sales of melatonin sleep supplements. Furthermore, trade disruption and border closures during the pandemic hampered the global melatonin sleep supplements market share. Manufacturing melatonin curtails owing to fluctuating prices of raw materials obstruct the melatonin sleep supplements market size.
Triggering of Development of Healthcare Infrastructure
Developed healthcare infrastructure triggers extensive demand for melatonin sleep supplements. The increasing occurrence of periodic sleep-related disorders, and cycle-related disorders, and the rising number of vendors expand the global melatonin sleep supplements market share.
Improving the middle-class population's disposable income increases melatonin sleep supplement sales. Also, the requirement for immunity booster medicines to prevent significantly growing chronic diseases propels the melatonin sleep supplements market size. Manufacturers incorporating supplements with different flavors can increase the demand for melatonin sleep supplements.
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North America is Considered one of the Leading Markets for Melatonin Sleep Supplements
North America is the leading market occupying about 36.7% of the melatonin sleep supplements market share in 2022 whereas the United States holds a significant portion and has a market share of 33.9%. The market for North America is considered to be high due to the fast pace of life and increasing cases of insomnia in youngsters.
Demand for Availability of High Herbal Sleep Ailments
Europe is succeeding in the melatonin sleep supplements market share with a CAGR of 18.3% in 2022, whereas the United Kingdom is said to expand at a CAGR of 6.7%. Germany is also estimated to be the most dominating market after the United Kingdom holding a share of 5.9%. Herbal sleep ailments are high in demand in this region compared to chemical sleep ailments.
Delayed Advancements in Less Availability of Melatonin Sleep Supplements
Australia is anticipated to experience delayed advancements owing to less availability of melatonin sleep supplements where the growth in the market is rising at a CAGR of 6.1%.
China is the Leading Producer and Exporter of Melatonin
Growth in China has anticipated being the leading producer and exporter of melatonin expanding at a CAGR of 7.9%.
Reasonable Cost of the Melatonin Sleep Supplements
India is said to thrive at a CAGR of 7.4%, which is attributed to an increase in the occurrence of sleep disorders, which leads to frequent visits to doctors and recommended use of melatonin sleep supplements. In turn, it is raising the market for melatonin sleep supplements. The reasonable cost of the product is also fueling the market growth.
Upliftment of the Pharmaceutical Industry
Disruption of the pandemic has positively impacted Japan’s respiratory devices market where several patients had chronic pulmonary disease or interstitial lung diseases which were relatively high. Further, death rates were rising due to which immediate precautions were taken for the proper and better cures of the patients and hold a market share of 6.4%
Synthetic Melatonin Capsule is Said to have a Dominant Position in the Market
The share of synthetic melatonin capsules is considered to hold a market share of 72.30%.
Synthetic melatonin is made in a laboratory and is vegan-free thus, it is safe in use as bacteria, fungi, and plants, melatonin, etc., which are indirectly incorporated with tryptophan as a transitional shikimate pathway product. In these cells, synthesis starts with D -erythrose 4-phosphate and phosphoenolpyruvate and photosynthetic cells with carbon dioxide.
Sleep Disorders are Estimated to Dominate the Market Share
Sleep disorders like insomnia are predicted to have a notable market share with a value of 48.40%. Furthermore, melatonin is considered a popular solution as the hormone is naturally produced by the body for regulating the constant rhythm, which includes controlling the sleep-wake cycle.
Online Pharmacy has a Leading Position in the Market
Online Pharmacies hold a significant market share of 37.2% as melatonin sleep supplements are mostly available in online pharmacies. Also, it becomes easy for the customers to purchase them as these supplements are costly and provide discounts making them user-friendly for the customers.
Some of the Prominent Players Working in the Global Market
Important Developments of the Key Players in the Market
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.6% from 2023 to 2033 |
| Market value in 2023 | USD 508.3 million |
| Market value in 2033 | USD 1055.6 million |
| Base Year for Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD million for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Country, By Form, By Application, By Sales Channel |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Rest of Latin America, Germany, The United Kingdom, France, Spain, Italy, Rest of Western Europe, Poland, Russia, Czech Republic, Romania, Rest of Eastern Europe, India, Bangladesh, Australia, New Zealand, Rest of South Asia and the Pacific, China, Japan, South Korea, GCC Countries, South Africa, Israel, Rest of the Middle East and Africa |
| Key Companies Profiled | Amazing Nutrition (Good Brands LLC); Just Potent LLC; Life Extension Foundation Inc.; Natrol LLC (Aurobindo Pharma USA, Inc.); NOW Foods; Optimum Nutrition, Inc. (Glanbia plc); Pharmavite LLC (Otsuka Pharmaceutical Co., Ltd.); Reckitt Benckiser Group plc.; Matsun Nutrition; Ion Labs Inc. |
| Customisation Scope | Available on Request |
The Melatonin Sleep Supplements Market is valued at USD 508.3 million in 2023.
Some of the key players in the Melatonin Sleep Supplements Market include Natrol, Nature's Bounty, and Melatonin Made Simple.
Oral tablets are likely to remain preferred through 2033.
Players opt for product launches and marketing campaigns.
India, Japan, and China dominate the Asian market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 5.1. Powder 5.2. Liquid 5.3. Capsule 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Sleep Disorders 6.2. Anxiety 6.3. Cancer 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 7.1. Online 7.2. Retail 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Amazing Nutrition (Good Brands LLC) 18.2. Just Potent LLC 18.3. Life Extension Foundation Inc. 18.4. Natrol LLC (Aurobindo Pharma USA, Inc.) 18.5. NOW Foods 18.6. Optimum Nutrition, Inc. (Glanbia plc) 18.7. Pharmavite LLC (Otsuka Pharmaceutical Co., Ltd.) 18.8. Reckitt Benckiser Group plc 18.9. Matsun Nutrition 18.10. Ion Labs Inc. 19. Assumptions & Acronyms Used 20. Research Methodology
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Melatonin Sleep Supplements Market
