Global Melatonin Sleep Supplement Market Size, Share & Industry Analysis, By Type, by Application, By Distribution Channel, By Industry Vertical, By Region and market forecast till 2027.
Global Melatonin Sleep Supplement Market
Global Melatonin Sleep Supplement Market was valued at US$ 454 Mn in 2021 that anticipated to reach US$ 759 Mn by 2027 at a CAGR 5.7% from 2022-2027.
Melatonin is a hormone which helps in managing the sleep-wake cycle and is produced naturally in the body. It is synthetically produced in laboratories for managing short-term treatment of Insomnia. It has antioxidant characteristic which expand its utilization across pharmaceutical, food and beverages & dietary supplements.
Market Drivers
The increase in user acknowledgment about sleep necessity and the precaution from Insomnia drive the growth of the Global Melatonin Sleep Supplement Market. The changing life style & hectic schedule shows the work-life imbalance which give rise to some mental conditions like insomnia, short-term anxiety and stress, further expanding the melatonin sleep supplements market share. Fast rise in number of healthcare suppliers for lifestyle and chronic diseases is one of the notable component crediting towards the growth of Global Melatonin Sleep Supplement. One more emerging trend in the melatonin supplement market is the easy accessibility of nutrimental supplements. In various clinical trials it has also notice that melatonin supplements as well reduce unwanted effect of chemotherapy and increases life span of cancer patient. The listed components are anticipated to drive the market growth of melatonin supplement & expected to remain dominant during the forecast period.
Market Restraints
Lack of awareness of supplement consumption causes an overdose, hampering the Global Melatonin Sleep supplement market share. Rising other treatments for insomnia decreases the demand for Global Melatonin Sleep Supplement. Strict governmental polies on prescribed medication such as melatonin supplements can impede the sales of melatonin sleep supplement. Trade disturbance and border closures during the pandemic hinder the Global Melatonin Sleep Supplement Market share. Manufacturing Melatonin decreases due to oscillating prices of raw materials fetter the Global Melatonin Sleep Supplement Market size.
Market Segmentation
Global Melatonin Sleep Supplement Market is segmented into Type, Application, Distribution Channel & Industry Vertical. By Type such as Tablet, Capsule. By Application such as Alzheimer’s Disease, Weak Immune system, Osteoporosis, Cancer Treatment, Nerve Pain, Others. By Distribution Channel such as Supermarkets and Hypermarkets, Departmental Stores, Specialty Shops, E Commerce Platforms. By Industry verticals such as Pharmaceuticals, Food & Beverages, Medical & Healthcare, Others.
Regional Analysis
Global Melatonin Sleep Supplement Market is segmented into five regions North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is the major market occupying about 36.7% of the melatonin sleep supplements market share in 2022 owing to the fast pace life and rising cases of insomnia in youngsters. Europe is flourishing in the melatonin sleep
supplements market share with a CAGR of 18.3% in 2022. The Asia Pacific is expected to experience slow advancement because of little availability of melatonin sleep supplements.
Key Players
Various Key Players are listed in this report such as Puritan's Pride, Douglas Laboratories, Doctor's Best, Nature Made, Jarrow Formulas, GNC, Life Extension, KAL, Natrol, Mason Natural, Nature’s Bounty, Natural Factors.
Market Taxonomy
By Type
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