Melatonin Products Market Size - By Type (Natural melatonin, Synthetic melatonin) By Application (Medical, Dietary supplements) By Form (Pills, Chewable, Liquid, Sprays), By Distribution (Pharmacies, Online retail), & Global Forecast, 2023-2032

Melatonin Products Market Size

Melatonin Products Market was valued at USD 1.56 billion in 2022 and is anticipated to register a CAGR of over 14.3% between 2023 and 2032. Growing awareness of sleep disorders, such as insomnia and sleep apnea, among the global population is a significant growth driver for the melatonin products demand. As the world's population ages, there is an increased demand for products that can help manage sleep disturbances that are common among older individuals. Melatonin supplements are often used by this demographic.

The regulatory environment for dietary supplements, including melatonin products, can be complex and subject to changes. Stringent regulations and labeling requirements can be a restraint on market growth. Although melatonin is generally considered safe for short-term use, there can be side effects and safety concerns associated with long-term use or incorrect dosages. This can limit the widespread adoption of melatonin products.
 

COVID-19 Impact

The COVID-19 pandemic has caused widespread stress, anxiety, and disruptions to daily routines, which have resulted in sleep disturbances for many individuals. As a result, there has been an increased demand for sleep aids, including melatonin products, as people sought ways to improve their sleep during these challenging times.
 

Melatonin Products Market Trends

Consumers are increasingly seeking natural and herbal solutions for sleep disorders and insomnia. Melatonin, as a naturally occurring hormone, fits into this trend, and products positioned as natural sleep aids have gained popularity. In addition, precision dosing has become a trend, with manufacturers offering melatonin products in varying dosages to cater to individual preferences and needs. Some products are marketed as "low dose" melatonin for users who want a milder sleep aid.
 

Melatonin Products Market Analysis

Based on the type, the synthetic melatonin segment accounted for USD 1.5 billion in 2022, due to the increasing prevalence of sleep disorders and disturbances in modern society. As people grapple with stress, irregular work hours, and the pervasive use of electronic devices, they are turning to synthetic melatonin as a readily available and convenient solution to improve their sleep quality. Additionally, the expansion of the dietary supplement industry, coupled with the rising consumer interest in natural and herbal remedies, has contributed to the growth of synthetic melatonin. Consumers are seeking alternatives to pharmaceutical sleep aids and are drawn to synthetic melatonin for its perceived natural origin.
 

Based on application dietary supplement dominated more than 55% of the melatonin products market share in 2022. The ease of access to dietary supplements, including melatonin products, is another contributing factor to their growth. These supplements are widely available in various formats, including pills, capsules, gummies, and liquids, making them accessible to a broad range of consumers.
 

Based on form the pill segment captured around 47% of the market share in 2022. The growth can be attributed to the attributes of the segment as it allows for precise dosing, which is crucial when it comes to melatonin supplements. Sleep needs vary from person to person, and pills offer the advantage of being available in a range of dosages, from low to high. This flexibility enables consumers to choose the dosage that best suits their individual sleep requirements, contributing to the pill segment's growth.
 

Based on distribution channel the pharmacy segment has acquired about 43.2% of the market revenue share in 2022. Pharmacies are increasingly diversifying their services beyond just dispensing medications. Many now offer a range of healthcare services, including immunizations, health screenings, and medication therapy management. This expansion of services not only caters to evolving consumer needs but also provides additional revenue streams for pharmacies.
 

North America melatonin products market is projected to surpassed USD 0.55 billion in 2022, there is a rising awareness and concern about sleep disorders and insomnia in North America. Modern lifestyles, increased screen time, and high-stress levels have contributed to a growing prevalence of sleep-related issues. As a result, consumers in the region are seeking natural and non-prescription solutions to improve their sleep, and melatonin supplements are perceived as a safe and effective option.
 

Melatonin Products Market Share

Major companies operating in the melatonin products industry includes:

• Aspen Holdings
• Nature's Bounty
• Pfizer Inc.
• Natrol, LLC (an Aurobindo company)
• Biotics Research Corporation
• Solgar
• Now Foods
• GNC
• Sundown Naturals
• Jamieson
• Nature Made
• Schiff Nutrition International Inc.
• Jarrow Formulas Inc.

These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Pfizer, Inc has established itself as a key player in the pharmaceutical industry, focusing on a diverse range of therapeutic areas, including vaccines, oncology, cardiology, and rare diseases. One of its most significant contributions to healthcare is the development of the Comirnaty COVID-19 vaccine in collaboration with BioNTech, which played a pivotal role in the global response to the pandemic. Pfizer's commitment to research and development is evident through its extensive network of research centres and collaborations. Operating worldwide, Pfizer has a substantial presence in North America, Europe, Asia, and beyond, with a strong portfolio of prescription drugs and vaccines.

Melatonin Products Industry News

In March 2022. Pfizer Inc. completed the acquisition of Arena Pharmaceuticals, a clinical stage company developing innovative potential therapies for the treatment of several immuno-inflammatory diseases.
 

This melatonin products market research report includes in-depth coverage of the industry with estimates & forecast in terms of transactional value (USD Billion) and transactional volume (Kilo Tonnes) from 2018 to 2032, for the following segments:

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By Type

• Natural melatonin
• Synthetic melatonin

By Application

• Medical
• Dietary supplements
• Other

By Form

• Pills
• Chewable
• Liquid
• Sprays
• Other

By Distribution Channel

• Pharmacies
• Online retail
• Other

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Australia
  • Malaysia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • Saudi Arabia
  • South Africa