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The global melatonin supplements market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 11% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Melatonin refers to a natural hormone that is produced by the pineal gland to regulate the body's circadian rhythm. It is primarily secreted during the night for controlling the sleep-wake cycle. Melatonin supplements are primarily administered for treating sleep-related disorders, such as insomnia, delayed sleep phase syndrome, jet lag, rapid eye movement condition, etc. They are widely available in the form of capsules, tablets, chewable gummies, liquid, etc.
The rising hectic work schedules and increasing stress levels have resulted in insomnia, delayed sleep, anxiety, etc., thereby propelling the need for melatonin supplements. Additionally, the high prevalence of numerous lifestyle-based disorders, such as obesity, hypertension, palpitation, etc., that disrupt the sleeping patterns is further driving the product demand. Moreover, the high prescribing rate of sleeping pills by healthcare professionals mostly during post-traumatic stress, cancer treatment, psychotherapy, etc., is also bolstering the market growth. In line with this, the growing popularity of melatonin-infused balms, roll-ons, vape, gummies, etc., with minimal side effects is further augmenting the global market. Additionally, the introduction of several innovative flavors of melatonin supplements along with the emergence of quick-dissolve tablets is also bolstering the product demand. Apart from this, the rising consumer concerns towards the adverse health impact of chemical-based products are further propelling the need for naturally-sourced product variants. In the coming years, the extensive R&D activities for the launch of drug-free products to maintain circadian rhythms and enhance cellular immunity will continue to drive the global market for melatonin supplements.
IMARC Group provides an analysis of the key trends in each sub-segment of the global melatonin supplements market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, form, treatment, application and distribution channel.
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The competitive landscape of the industry has also been examined with some of the key players being 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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