Melatonin Market Insights
Melatonin market size was valued at USD 1.5 Billion in 2021, registering a CAGR of 14.79% during the forecast period (2022-2030), and the market is projected to be worth USD 5.1 Billion by 2030.
Melatonin is a hormone produced naturally by the pineal gland in the brain that helps regulate sleep-wake cycles. It is commonly used as a dietary supplement to improve sleep quality and treat sleep disorders such as insomnia. The global market for melatonin is expected to grow significantly in the coming years, driven by the increasing prevalence of sleep disorders, the growing awareness of the health benefits of melatonin, and the increasing demand for natural sleep aids.
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Applications:
The major applications of melatonin include sleep disorders, seasonal affective disorder (SAD), and jet lag. Melatonin is commonly used as a natural remedy for insomnia and other sleep disorders, such as delayed sleep phase disorder and shift work sleep disorder. It is also used to treat SAD, a type of depression that occurs during the winter months when there is less natural sunlight. Melatonin is also used to alleviate symptoms of jet lag, which is caused by traveling across time zones and disrupting the body's natural sleep-wake cycle.
Market Value:
The global market for melatonin was valued at USD 676 million in 2020 and is expected to reach USD 1.2 billion by 2027, growing at a CAGR of 8.4% from 2021 to 2027. The growth of the market is attributed to the increasing prevalence of sleep disorders, the growing awareness of the health benefits of melatonin, and the increasing demand for natural sleep aids.
Segment:
The melatonin market is segmented by product type, distribution channel, and region. By product type, the market is segmented into pills, liquids, and others. Pills are the most commonly used form of melatonin, accounting for a significant share of the market. By distribution channel, the market is segmented into pharmacies, online stores, and others. Pharmacies are the largest segment, accounting for a significant share of the market, owing to the availability of prescription and over-the-counter melatonin products.
By Type:
Natural and Synthetic
By Form:
Capsules & Tablets, Gummies, Liquid, and Others
By Application: Dietary Supplements, Medical Industry, and Others By Geography: North America, Europe Asia Pacific, Latin America and Middle East, and Africa
Region:
The global market for melatonin is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market, accounting for a significant share of the market, owing to the increasing prevalence of sleep disorders and the growing demand for natural sleep aids. Europe is also a significant market, driven by the increasing awareness of the health benefits of melatonin and the growing demand for natural sleep aids. Asia Pacific is expected to be the fastest-growing region, owing to the increasing prevalence of sleep disorders and the growing awareness of the health benefits of melatonin in countries such as China and India.
In conclusion, the melatonin market size is expected to grow significantly in the coming years, driven by the increasing prevalence of sleep disorders, the growing awareness of the health benefits of melatonin, and the increasing demand for natural sleep aids. The market is segmented by product type, distribution channel, and region, with pills and pharmacies being the largest segments.
The study provides answers to the following key questions:
• What type of customers buying the products and services from companies operating in the Melatonin Market?
• What will be the roadmap for the product manufacturers operating in the Melatonin Market for the forecast period, 2022-2030?
• What are the recent developments in the competitive landscape to look out for during the estimated period?
• What are the major trends influencing customers’ lives and their buying behaviour?
• How can brands best communicate with the customers they intend to target?
• When, where and how the customers want to use or consume the products or services?
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