Global Melatonin Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Melatonin Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Melatonin, also known as N-acetyl-5-methoxy tryptamine, is a hormone that is produced by the pineal gland in animals and regulates sleep and wakefulness. Melatonin is also produced in plants where it functions as the first line of defense against oxidative stress.

Market Overview:

The latest research study on the global Melatonin market finds that the global Melatonin market reached a value of USD 1323.5 million in 2022. It’s expected that the market will achieve USD 2587.96 million by 2028, exhibiting a CAGR of 11.83% during the forecast period.

The dietary supplement market is expected to continue to grow

The busy lifestyle and the increase in working hours lead to many health problems, such as neuralgia and weak immune system. A good sleep can alleviate these problems. Therefore, consumers today are choosing various nutritional supplements, including melatonin supplements. Therefore, creating innovative melatonin supplements with different characteristics and flavors may provide manufacturers with opportunities.

Lack of unified government approval

Worldwide, except for a few countries and regions such as the United States and Hong Kong, which regard melatonin as a functional food, most countries (regions) such as the United Kingdom, France, Australia, and Japan are cautious about the use of melatonin. Attitudes are strictly controlled as prescription drugs and not freely sold in pharmacies. In the United Kingdom and Australia, melatonin is approved for the short-term treatment of primary insomnia in adults over 55 years of age. In Denmark and the Czech Republic, melatonin is banned in food supplements. In Belgium and Germany, products that provide 0.3 mg or more of melatonin per day are considered medicines according to their function. In Spain and Italy, melatonin is authorized for use in food supplements up to 1 mg per day.

Region Overview:

Geographically, North America held the largest market share – 45.67% in 2021.

Company Overview:

Natrol is one of the major players operating in the Melatonin market, holding a share of 1.69% in 2020.

Natrol

Founded in 1980 by Elliott Balbert as a cosmetics company, Natrol evolved over the past several decades into one of the most recognized name brands in the Vitamin, Mineral and Supplement category, helping to form what is now titled the “Nutraceuticals” industry. Nutraceuticals are food components—such as minerals, vitamins, amino acids, hormones, etc.—used for medicinal purposes. Natrol is considered a pioneer in formulating food into medicinal supplements for better health and wellness.

Nature’s Bounty

Nature’s Bounty is the flagship brand of The Nature’s Bounty Co., a family of wellness brands committed to providing people with high quality products to complement their lifestyles and physical health.

Segmentation Overview:

By type, Pharmaceutical Grade segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Dietary Supplements segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Melatonin market covered in Chapter 3:

Rexall Sundown
Pfizer
Pharmavite
Church & Dwight
Nature's Bounty
Xiu Zheng
Solgar
Biotics Research
Now Food
GNC
Jameison
By-Health
Natrol

In Chapter 4 and Chapter 14.2, on the basis of types, the Melatonin market from 2018 to 2029 is primarily split into:

Pharmaceutical Grade Melatonin
Food Grade Melatonin

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Melatonin market from 2018 to 2029 covers:

Dietary Supplements
Medical
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)