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

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).

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• The market estimate (ME) sheet in Excel format
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