Melatonin Market

Melatonin Market Growth (2024-2029):

The Global Melatonin Market size was valued at US$ 482 million in 2023 and is anticipated to reach US$ 853 million by the end of 2029, increasing at a CAGR of 10% between 2024-2029.

Market Overview:

The melatonin market has experienced significant growth in the past few years owing to the rising demand for melatonin from the medical end-user. Moreover, the increasing demand for melatonin by the construction industry is estimated to propel the global melatonin market revenue in the coming years. The consumption of melatonin is higher in the U.S. and Canada, and yet to continue using melatonin further, which led to the global melatonin market growth during the forecast period. The global melatonin market is augmented based on type, application, and region. Depending on the type, the global melatonin market comprises two types: natural melatonin and synthetic melatonin. Based on application, the market is augmented into dietary supplements, construction, medical, and others. These segments further drive the global melatonin market to hold the maximum growth during 2023-2028

Market Drivers:

The increasing consumption of food & and beverages, rising consumer spending on food products, and the growing prevalence rate of insomnia are the primary factors responsible for the global melatonin market growth. In recent years, the demand for melatonin is increasing daily due to the growing consumption of food and beverages globally. In addition, the overall population in the world is more concentrated on health habits and nutritional benefits, which has led to an increase in the food and beverage sector. Furthermore, according to a survey, most Americans, i.e., almost 90%, changed their lifestyle by having a healthy diet and consuming nutritious food, which further led the food and beverage sector to significant growth. Therefore, from 2021, the demand for melatonin is rising due to the escalating consumer spending on food products combined with the increasing demand for various food products.

Generally, melatonin is considered a hormone that is first and foremostly released by the pineal gland during the night. Therefore, it is majorly utilized for the short-term treatment of insomnia, including work shifts and jet lag.On the other hand, melatonin is indulged in synchronizing circadian rhythms such as blood pressure regulation, and sleep-wake timing, mainly invertebrates. Melatonin is also used for controlling hibernation, reproduction, fattening, and molting. Moreover, in plants, it acts as a defender against oxidative stress and is also present in several types of food. In addition, it also consists of anti-oxidant properties, which help reduce oxidative stress and offer a suitable environment for muscle protection and growth. Melatonin comprises anti-oxidant properties. Therefore, it can be utilized primarily in the food & beverage sector, pharmaceuticals, and dietary supplements. Moreover, melatonin is utilized in producing bio-based spray polyurethane, which is used as a significant component in building insulation. Furthermore, the pharmaceutical sector is demanding more melatonin since it is used in treating sleeping disorders. In addition, melatonin is used in manufacturing SPF, a primary raw material for the construction industry. These are the crucial factors that fuel the global melatonin market growth in the near future.

Market Restraints:

Although melatonin is produced from plants, animals, fungi, and bacteria, it consists of some restraints. The increasing controversies regarding the side effects of having melatonin in humans are projected to restrain the global melatonin market growth during the forecast period. Moreover, the stringent government rules and regulations as melatonin tablets which are prescribed drugs, are estimated to slow down the global melatonin market growth in the next six years. On the other hand, misconception combined with the side effects of melatonin and the fluctuations in the costs of raw materials utilized chiefly in the production of artificial melatonin is anticipated to restrain the global melatonin market growth during the forecast period. Moreover, melatonin has adverse effects. Over intake of melatonin can cause dizziness, headaches, drowsiness, nausea, irritability, restlessness, nervousness, abdominal pain, symptoms of menopause, chest pain, mood swings, weight gain, tiredness, and feel hungover. These are the significant effects of melatonin that further slow down the global melatonin market growth in the next six years.

MELATONIN MARKET REPORT COVERAGE:

Market Segmentation:

Melatonin Market - By Type:

• Natural melatonin
• Synthetic melatonin

Based on type, the synthetic melatonin segment plays a dominant role in the global melatonin market. Synthetic melatonin is produced in a laboratory, which does not comprise animal products. It is made with a vegan-friendly formula, and these are proven safer to use. In addition, melatonin is synthesized indirectly with tryptophan as an intermediate product, mainly in plants, bacteria, fungi, and protists. Synthesis happens with 4-phosphate, phosphoenolpyruvate, D-erythrose, and photosynthetic cell combined with CO2 (Carbon dioxide) in these cells.

Melatonin Market - By Application:

• Dietary supplement
• Construction industry
• Medical industry
• Others

Depending on the application, the medical industry sector tends to hold the most significant global melatonin market share during the forecast period and sustain its growth in the next six years. Melatonin is generally manufactured by plants, animals, fungi, and bacteria. It comprises anti-oxidant properties which can be used to regulate mood, memory, dreaming, immune activity, fertility, and the sleep-wake cycle. These are generally used for short-term treatment of insufficient sleeping due to jet lag and work shifts. In addition, it is also used for providing muscle protection and growth. These are the significant factors that led the medical sector to hold the largest market share in the upcoming years.

Market Regional Analysis: 

The Global Melatonin Market Report includes the segmentation of Regions:

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• Middle east and Africa 

The North American region is anticipated to have the largest global melatonin market share due to the increasing demand for melatonin by the medical industry, situated in the U.S. and Canada. It is said that Canadians have more insomnia people due to which the demand for melatonin keeps on increasing, which further led to the highest melatonin market growth in North America.

Europe is projected to grow with the highest global melatonin market CAGR owing to the increasing number of people suffering from tiredness, fertility, and many others. 

The population in India and China is estimated to suffer from headaches, insufficient sleep, dizziness, etc. Therefore, the countries require the maximum amount of melatonin content, which further led to significant growth in the Asia Pacific region.

Middle East & Africa is projected to hold the steady CAGR of the global melatonin market during 2024 - 2029.

Impact of COVID-19 on the Global Melatonin Market:

The COVID-19 pandemic started in December, and the disease has conquered over 100 regions across the world. According to the analysis of WHO, COVID-19 has affected more than 53 million people globally, owing to which the government has to move forward with the lockdown concept. The global melatonin market experienced steady growth during the COVID-19 crisis due to the increasing demand for melatonin since most people suffer from stress and going through an unhealthy lifestyle. In addition, during the COVID year, many Canadians suffered from tiredness which further led the global melatonin market to have sufficient growth during the forecast period.

Market Key Players:

The companies covered in the report include:

1. Natrol, LLC 
2. Aspen Australia
3. Nature's Bounty
4. Pfizer
5. Biotics Research Corporation
6. Pharmavite LLC
7. Jameison
8. Rexall Sundown Inc.
9. Solgar Inc.
10. NCFI Polyurethanes

Market Recent Developments:

• Natrol LLC, an Aurobindo company, introduces new sleep+ products which consist of melatonin, is a powerful sleep blend and helps in the healthy immune system and get revitalizing sleep.
• Aspen Australia announces licenses to kids' sleep drugs and declared that it had been granted marketing rights for a new preparation for giving a helping hand for kids with autism spectrum disorder- pediatric prolonged-release melatonin (PedPRM).