Melatonin Supplements Market Size
Melatonin Supplements Market size was valued at around USD 2.15 billion in 2022 and is estimated to expand at 14.92% CAGR from 2023 to 2032, driven by increasing awareness of the importance of sleep and the growing prevalence of sleep disorders worldwide. Melatonin, a hormone produced naturally in the body, regulates sleep-wake cycles. Its synthetic form is commonly used as a dietary supplement to aid in managing sleep-related issues such as insomnia and jet lag.
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The market is witnessing a surge in demand for melatonin supplements, with consumers increasingly inclined toward natural and holistic approaches to address sleep-related concerns. Additionally, factors such as changing lifestyles, rising stress levels, and the growing elderly population were contributing to the expansion of the market.
|Market Size in 2022:
|USD 2.15 Billion
|2023 to 2032
|Forecast Period 2023 to 2032 CAGR:
|2032 Value Projection:
|USD 8.64 Billion
|Historical Data for:
|2018 to 2022
|No. of Pages:
|Tables, Charts & Figures:
|Form, Distribution Channel, Application
|Pitfalls & Challenges:
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Although melatonin is generally considered safe for short-term use, its long-term effects and potential side effects are still being studied. Misuse and over-reliance on melatonin supplements without proper medical guidance can lead to adverse effects and potential health risks. Also, the melatonin supplements market faces competition from alternative therapies and products designed to improve sleep quality.
This includes herbal supplements, relaxation techniques, and other over-the-counter sleep aids that offer similar benefits, potentially limiting the growth prospects of the melatonin segment. While melatonin has shown promising results in managing certain sleep-related issues, the clinical evidence supporting its efficacy in treating long-term sleep disorders is still evolving. This lack of comprehensive scientific backing can affect consumer confidence and limit market growth.
While the initial phase of the pandemic led to disruptions in the supply chain and manufacturing processes, the subsequent lockdowns and social distancing measures significantly affected people's sleep patterns and mental well-being. With the pandemic-induced stress, anxiety, and changes in daily routines, a substantial portion of the population reported experiencing sleep disturbances and insomnia. This led to a heightened demand for sleep aids and supplements, including melatonin, as individuals sought ways to manage their sleep quality and patterns. Consequently, the market witnessed a surge in sales during the pandemic, as consumers increasingly turned to these products to alleviate their sleep-related issues.
Melatonin Supplements Market Trends
Recent trends in the melatonin supplements industry have reflected a growing inclination towards personalized and natural sleep solutions. Consumers are seeking products that offer not only effective sleep management but also additional health benefits. Consequently, manufacturers have been focusing on developing innovative formulations that combine melatonin with other natural ingredients known for their calming and sleep-inducing properties, such as valerian root, chamomile, and magnesium.
Moreover, there has been an increased emphasis on creating melatonin supplements in various convenient formats, including gummies, dissolvable tablets, and liquid drops, catering to diverse consumer preferences. Additionally, with a rise in health consciousness, there has been a growing demand for organic and non-GMO (genetically modified organism) melatonin supplements, driving manufacturers to source high-quality, natural ingredients and adopt sustainable production practices.
Melatonin Supplements Market Analysis
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Based on form, the tablets & capsules segment dominated around USD 1.59 billion revenue in 2022, due to their familiarity and simplicity, making it the go-to option for individuals seeking a straightforward and hassle-free method of ingestion. Tablets and capsules offer precise dosing and are often perceived as a reliable option, contributing to their sustained market leadership. Following tablets and capsules, the liquid form of melatonin supplements has experienced a notable surge in demand, attributed to its faster absorption rate and versatility in dosing.
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Based on distribution channel, the drug stores segment accounted for 35% of the melatonin supplements market share in 2022. Drug stores have historically held a significant share in the market, providing consumers with easy accessibility to a range of health and wellness products, including melatonin supplements. These stores are often considered reliable sources of trusted and reputed brands, attracting consumers who prefer to make purchases in-person and seek guidance from pharmacists or healthcare professionals.
Hypermarkets and supermarkets, known for their diverse product offerings and competitive pricing, also hold a substantial share in the melatonin supplements market. Their widespread presence and one-stop shopping experience appeal to a broad consumer base, leading to consistent sales and visibility for melatonin supplements among various other health and wellness products.
Based on application, the melatonin supplements market is segmented as Insomnia, Jet Lag, Shift Work Sleep Disorder & Others. Insomnia, characterized by difficulty in falling or staying asleep, has historically represented the largest market share among these segments. The high prevalence of insomnia globally, coupled with increased awareness about the benefits of melatonin in regulating sleep-wake cycles, has led to a significant demand for melatonin supplements tailored specifically for addressing sleep disorders.
The segment of jet lag, caused by rapid travel across different time zones, has also demonstrated a notable market share. Melatonin supplements are commonly used by travellers to alleviate the symptoms of jet lag and to help readjust their internal body clock to new time zones. The convenience and effectiveness of melatonin in managing jet lag have contributed to its widespread adoption among frequent travellers and individuals prone to international travel.
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North American melatonin supplements market size held over USD 0.83 billion in 2022, driven by factors such as increasing consumer awareness regarding the importance of sleep health and the rising incidence of sleep disorders. With a growing emphasis on natural and holistic approaches to address sleep-related concerns, the demand for melatonin supplements has surged in the region. North America has historically represented a significant market share in the global melatonin supplements industry, owing to the presence of a large consumer base actively seeking solutions to improve their sleep quality.
Melatonin Supplements Market Share
Some of the major companies operating in the melatonin supplements industry are:
- Puritan’s Pride
- Nature Made
- Amazing Nutrition
- Just Potent LLC
- Jarrow Formulas
- Swanson Health Products
- CVS Health
- Life Extension
- Pure Encapsulations
- Country Life Vitamins
- Douglas Laboratories
These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Puritan's Pride is a leading manufacturer and distributor of vitamins, minerals, supplements, and herbs. It is headquartered in Oakdale, New York, and has been in business since 1973. Puritan's Pride offers a wide range of melatonin products, including capsules, gummies, and liquids. It is the market leader in the melatonin supplements market, with a market share of approximately 25%.
Melatonin Supplements Industry News
- In October 2023, Nutraland USA, Inc., a top supplier of sustainable and natural ingredients, shared news about the release of Somato™, a special kind of melatonin made from tomatoes. This new ingredient is expected to bring big changes to the natural products industry by providing a more eco-friendly and natural option compared to synthetic melatonin, for use in foods and supplements that aim to improve health.
The melatonin supplements market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:
to Buy Section of this Report
Market, By Form
- Tablets & Capsules
- Sublingual Pellets
Market, By Distribution Channel
- Supermarkets and Hypermarkets
- Drug Stores
- Online Retail
Market, By Application
- Jet Lag
- Shift Work Sleep Disorder
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
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