Global Melatonin Market to Surpass USD 1032.54 million by 2030 Driven by Rise in Insomnia
SkyQuest projects that the global melatonin market will attain a value of USD 1032.54 million by 2030, with a CAGR of 11% during the forecast period (2023-2030). Increased disposable income due to technology and globalization, increasing number of employed workers is one of the main reasons for the rise in insomnia in recent times. This is due to lifestyle and unhealthy diet leading to increased sodium intake and factors that directly or indirectly increase blood pressure. Generating these will drive the demand for melatonin supplements to reduce stress and insomnia which will drive the global melatonin market during the research period.
Westford, USA, Feb. 29, 2024 (GLOBE NEWSWIRE) — Strict regulations and standards regarding the use and packaging of OTC and over-the-counter drugs are the major restraining factors that can retard the growth of the global melatonin market during the analyzed period.
Browse in-depth TOC of “Melatonin Market”
● Pages – 260
● Tables – 89
● Figures – 76
Low levels of melatonin can lead to anxiety and sleep problems in the global melatonin market. It is possible that using melatonin supplements will help you sleep better. Some blood pressure medications interfere with sleep. Oral melatonin can help patients taking beta-blockers sleep better and drive market growth.
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Prominent Players of Global Melatonin Market
- Life Extension
- Pharmavite LLC
- NBTY Inc.
- Kirkland Signature (Costco Wholesale Corporation)
- Puritan’s Pride (International Vitamin Corporation)
- GNC Holdings Inc.
- Solgar Inc.
- Douglas Laboratories
- Webber Naturals Inc.
- Source Naturals LLC
- Sundown Naturals (NBTY Inc.)
- Life Brand (Shoppers Drug Mart Corporation)
- The Vitamin Shoppe
- Schiff Nutrition International Inc.
- Biotics Research Corporation
- Garden of Life LLC
- Jarrow Formulas Inc.
Natural Segment to Dominate Market Owing to Rising Natural Properties
Natural melatonin dominates the segment with the largest market share in the global melatonin market and is predicted to continue to do so during the forecast period. Natural melatonin has natural properties, and is recommended by doctors for relaxation, jetlag and rapid eye movement, among other things.
By 2022, the North America region will dominate the global melatonin market with a dominant market and revenue share. Growing problem of insomnia in developed countries due to lifestyle problems and diet is a major reason for the rise in demand for melatonin in United States and Canada and will drive the growth of melatonin market in this region. During the analyzed period, it will drive the growth of the global melatonin market in the North America region.
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Synthetic Segment to Witness Significant Growth Owing to Rise in Medication Consumption
The Food and Drug Administration (FDA) examines synthetic melatonin as a supplement, not a drug. As a result, melatonin can be found in drugstores and natural food stores. These medications are available in tablet, liquid, chewable, or lozenge form. According to experts, long-term synthetic melatonin is safe in the global melatonin market.
Asia Pacific is expected to exhibit significant growth during the forecast period due to increasing technology and changing lifestyle and dietary habits due to increase in disposable income in developing countries are major contributing factors insomnia is increasing hence the following reasons will drive the demand for melatonin in the region and that will boost the growth of global melatonin market during the analyzed period.
A comprehensive analysis of the major players in the global melatonin market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments of Global Melatonin Market
- In August 2022, Pfizer Inc. and Global Blood Therapeutics, Inc. announced today that it has signed a U.S. deal. $5.4 billion to acquire Pfizer GBT, a life-changing biopharmaceutical company dedicated to developing hope-inspiring therapies for underserved patient groups, beginning with sickle cell disease (SCD).
- In October 2023, Nutraland USA, Inc., a leading manufacturer of natural sustainable products, shared the announcement of the release of Somato™, a special melatonin extract made from tomatoes Those new products this yield poorer quality and more natural products compared to synthetic melatonin. It is expected to lead to a major revolution in product development, for use in foods and pharmaceutical additives ho aimed at improving health.
Key Questions Answered in Global Melatonin Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how do these differences shape the market’s future growth?
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