The Global Melatonin Market Growth Accelerated By Rising Consumer Preference For Natural Products

Melatonin Market

 


Melatonin is a hormone that helps regulate sleep cycles and is produced naturally by the pineal gland in humans and animals. It is commonly used as a dietary supplement to promote better and deeper sleep. Melatonin supplements are widely available as tablets, capsules, gummies, and liquids. They offer advantages like supporting circadian rhythm functions, reducing effects of jet lag, and improving sleep quality. The growing health concerns and consumer preference for natural products over prescription drugs are driving the demand for melatonin supplements.

The global Melatonin Market is estimated to be valued at US$ 576.85 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030,as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rising consumer preference for natural products is a key trend fueling the growth of the melatonin market. People are increasingly choosing dietary supplements made from natural ingredients due to perceived safety benefits as compared to allopathic medicines. According to an American Academy of Sleep Medicine survey, around 13-16% of adults in the United States regularly use melatonin supplements to improve sleep. Easy availability of these supplements in the form of gummies and beverages makes them more appealing to consumers. This shift towards natural products is expected to continue augmenting the demand for melatonin supplements during the forecast period.


Segment Analysis


The global melatonin market is segmented on the basis of formulation type and distribution channel. On the basis of formulation type, the melatonin market can be segmented into capsules, tablets, liquid, and powder. Amongst these, capsules dominated the global melatonin market in 2022 and is expected to continue its dominance during the forecast period. This is due to ease of consumption and accuracy in dosage administration offered by capsules.

Key Takeaways


The Global Melatonin Market Demand  is expected to witness high growth. The global Melatonin Market is estimated to be valued at US$ 576.85 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030.

Regional analysis shows that North America dominated the global melatonin market in 2022 and is expected to continue its dominance during the forecast period. This is attributed to rising acceptance of melatonin supplements for sleep issues and increasing prevalence of sleep disorders in the region.

Key players related content comprises
Key players operating in the melatonin market are Cipla, Teva Pharmaceuticals, Glenmark Pharmaceuticals, AdvaCare Pharma, Medlab Pharmaceuticals Private Limited, Dermocare Laboratories, Iva Healthcare Private Limited, Unilab Chemicals & Pharmaceuticals Pvt Ltd, Organon group of companies, Cosette Pharmaceuticals, Taro Pharmaceutical Industries Ltd., and Hikma Pharmaceuticals.

 

Explore more information on this topic, Please visit-

https://www.marketwebjournal.com/melatonin-market-growth-and-trnds-analysis-share-size-demand-forecast/ 

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