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Melatonin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

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  • 120 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5025916
UP TO OFF until Sep 30th 2023

Quick Summary:

The rapidly expanding melatonin market is on the verge of transforming the global medical landscape with robust innovational strides. The rising demand for this biogenic amine, revered for its mood regulation and sleep cycle management characteristics, is set to pave the way for ample business advancement opportunities in the foreseeable future. Furthermore, the upsurge in the application base of melatonin for the short-term treatment of sleep disorders, such as jet lag and shift work, safeguards numerous investment avenues in the sector.

North America proves its dominance as the region leading the market chart, backed by soaring insomnia problems and increasing demand from the medical industry. The presence of premium melatonin producers in the region solidifies its market position. However, challenges posed by stringent government regulations on the use of melatonin in insomnia medicine could potentially impede market growth, making the purchase of this report a crucial step in navigating the intricacies of this market.

The melatonin market is projected to register a CAGR of more than 10% during the forecast period. The market was negatively impacted by COVID-19 in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.

Key Highlights

  • The growth of the market is likely to be driven by the growing need for melatonin in the medical field.
  • On the other hand, government regulations on the use of melatonin in insomnia medicine are expected to hinder the market's growth.
  • Melatonin used for medical purposes is expected to lead the market over the next few years.
  • North America is expected to have the largest share of the market, with countries like the United States and Canada using the most.

Melatonin Market Trends

Increasing Demand for Melatonin from the Medical Industry

  • Melatonin is a biogenic amine that is made by animals, plants, and microbes. It is thought to control mood, learning and memory, immune activity, dreaming, fertility, and reproduction.
  • Additionally, melatonin is a hormone that regulates the sleep-wake cycle, primarily released by the pineal gland, and used as a supplement for the short-term treatment of trouble sleeping, such as from jet lag or shift work.
  • Melatonin has antioxidant properties that reduce oxidative stress caused by exercise and create a better environment for muscle protection and growth.
  • According to an American Psychiatric Association (APA) report, approximately one-third of adults suffer from insomnia during their lifetime. It is characterized by persistent difficulties falling and staying asleep.
  • With 30% of adults experiencing short-term insomnia, insomnia is the most frequent sleep disorder. Approximately 10% of the population suffers from chronic insomnia.
  • Further, almost 40% of people report unexpectedly falling asleep during the day. Around 5% of people report falling asleep while driving.
  • Moreover, the number of pediatric melatonin ingestions climbed 530% from 8,337 in 2012 to 52,563 in 2021. Ingestions of melatonin by children made up 4.9% of all ingestions by children in 2021, up from 0.6% in 2012.
  • Hence, owing to the above-mentioned factors, the application of melatonin in the medical industry is likely to dominate during the forecast period.

North America Region to Dominate the Market

  • The North American region is expected to dominate the market for melatonin during the forecast period. The rising demand for melatonin from the medical industry, coupled with growing insomnia problems in developed countries like the United States and Canada, is expected to drive the demand for melatonin in this region.
  • The largest producers of melatonin are located in the North American region. Some leading companies in melatonin production are Aspen Australia, Nature’s Bounty, Pfizer, Natrol, LLC, an Aurobindo company, and Biotics Research Corporation.
  • According to a report by the US National Library of Science, 40.2% of Canadians have at least one symptom of insomnia.
  • In the United States, 35.2% of adults report sleeping less than seven hours every night on average.
  • Furthermore, insomnia is thought to affect between 30% and 48% of older adults. Women have a 40% higher lifetime risk of sleeplessness.
  • Due to the things listed above, it is expected that the market for melatonin in North America will grow a lot during the study period.

Melatonin Market Competitor Analysis

The global melatonin market is consolidated by nature. Some of the major players in the market include Aspen Holdings, Nature’s Bounty, Pfizer Inc., Natrol, LLC., and Biotics Research Corporation, among others (in no particular order).

Additional benefits of purchasing the report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Increasing Demand for Melatonin from the Medical Sector
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Government Regulations on the Use of Melatonin in Insomnia Medicine
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Value)
5.1 Type
5.1.1 Natural Melatonin
5.1.2 Synthetic Melatonin
5.2 Application
5.2.1 Medical
5.2.2 Dietary Supplement
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom France Italy Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Aurobindo Pharma
6.4.2 Pfizer Inc
6.4.3 Aspen Holdings
6.4.4 Nature's Bounty
6.4.5 NCFI Polyurethanes
6.4.6 Pharmavite
6.4.7 Jameison
6.4.8 Rexall Sundown, Inc.
6.4.9 Church & Dwight Co., Inc.
6.4.10 Biotics Research Corporation
6.4.11 Solgar Inc.
6.4.13 Natrol, LLC.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Aurobindo Pharma
  • Pfizer Inc
  • Aspen Holdings
  • Nature's Bounty
  • NCFI Polyurethanes
  • Pharmavite
  • Jameison
  • Rexall Sundown, Inc.
  • Church & Dwight Co., Inc.
  • Biotics Research Corporation
  • Solgar Inc.
  • Natrol, LLC.