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Melatonin Products Market Analysis

  • Report ID: GMI7015
  • Published Date: Oct 2023
  • Report Format: PDF

Melatonin Products Market Analysis

Global Melatonin Products Market Size, By Type, 2021 - 2032 (USD Billion)

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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.
 

Global Melatonin Products Market Size, By Type, 2021 - 2032 (USD Billion)

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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.
 

Global Melatonin Products Market Revenue Share (%), By Form, (2022)

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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.
 

Global Melatonin Products Market Revenue Share (%), By Distribution Channel , (2022)

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 Revenue, 2021 - 2032 (USD Billion)

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.

Authors: Kunal Ahuja, Himanshu Kabra

Frequently Asked Questions (FAQ) :

The market size of melatonin products was worth USD 1.56 billion in 2022 and will reach USD 5.95 billion by 2032, due to the growing awareness of sleep disorders, such as insomnia and sleep apnea, among the global population.

Melatonin products market size from the synthetic melanin type segment reached USD 2.5 billion in 2022 and is expected register commendable CAGR from 2023 to 2032, on account of the increasing prevalence of sleep disorders and disturbances in modern society.

North America melatonin products market size crossed USD 0.55 billion in 2022 and is expected to register appreciable CAGR from 2023 to 2032, owing to the rising modern lifestyles, increasing screen time, and high-stress levels resulting in the prevalence of sleep disorders in the region.

Aspen Holdings, Nature's Bounty, Pfizer Inc., Natrol, LLC (an Aurobindo company), Biotics Research Corporation, Solgar, Now Foods, GNC, and Sundown Naturals are some of the major melatonin products companies worldwide.

Melatonin Products Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 13
  • Tables & Figures: 327
  • Countries covered: 21
  • Pages: 180
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