According to the latest report by IMARC Group, titled "Melatonin Supplements Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global melatonin supplements market exhibited strong growth during 2015-2020. Melatonin supplements are widely used in the treatment of sleep disorders and for maintaining circadian rhythms. Their consumption aids in balancing the melatonin deficiency in the body that is produced by the pineal gland to regulate the body's circadian rhythm. These supplements are commonly consumed to control the internal body clock of individuals while easing the sleep process. Widely available in the market in the forms of tablets, capsules, liquid and chewables, they assist in treating insomnia, delayed sleep phase syndrome, jet lag, and rapid eye movement condition.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Melatonin Supplements Market Trends:
The global market is majorly driven by the increasing incidences of insomnia and delayed sleep among individuals. With the hectic lifestyles led by the masses and the rising prevalence of stress and anxiety related to work and adverse environmental conditions, melatonin supplements are commonly preferred to ease the sleep process. Along with this, the rising occurrences of bipolar disorder and dementia among the masses ares also contributing to the high uptake of these supplements. The market is further driven by the advent of melatonin-infused balms, roll-ons, vape and gummies in the market with little to no side effects. Additionally, numerous players are also introducing innovative flavored and dissolvable variants in the market to offer enhanced convenience to the consumers. Some of the other factors contributing to the market growth include the growing awareness regarding the adverse effects of chemical-based products and the extensive research and development (R&D) activities conducted by key players. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 11% during 2021-2026.
- On the basis of the type, the market has been bifurcated into natural and synthetic melatonin.
- Based on the form, the market has been classified into pills, liquids, chewables and others.
- On the basis of the treatment, the market has been categorized into medicinal and preventive.
- Based on the application, the market has been divided into sleep disorders, Alzheimer’s disease, weak immune system, cancer treatment and others.
- On the basis of the distribution channel, the market has been segmented into hospitals pharmacies, online pharmacies, drug stores, retail pharmacies and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Amazing Nutrition (Good Brands LLC), Just Potent LLC, Life Extension Foundation Inc., Natrol LLC (Aurobindo Pharma USA, Inc.), NOW Foods, Optimum Nutrition, Inc. (Glanbia plc), Pharmavite LLC (Otsuka Pharmaceutical Co., Ltd.), Reckitt Benckiser Group plc., Robinson Pharma, Inc. and The Nature's Bounty Co. (KKR & Co. Inc.).
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