During the forecast period, the Melatonin Sleep Supplements Market is expected to reach a market evaluation of a CAGR of 7.6% in the global market. The melatonin sleep supplements market is likely to grow its revenue to US$ 474 Mn in 2022 and is anticipated to cross US$ 1,059 Mn by 2032.
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60% of adults have sleep issues every night, according to the National Sleep Foundation (NSF) Sleep in America polls, pushing the demand for melatonin sleep supplements.
Increasing stress levels and anxiety in millennials are escalating sales of melatonin sleep supplements.
The adoption of melatonin sleep supplements reduces the side effects of chemotherapy and increases the survival period of cancer patients.
An increasing number of healthcare suppliers for chronic diseases and lifestyle expands the melatonin sleep supplements market size.
The antioxidants in melatonin expand its applications across pharmaceuticals and food & beverages, broadening the melatonin sleep supplements market share.
The online retail industry and an increasing number of online users purchasing contribute to melanin sleep supplement market growth.
Key Companies profiled
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.), Matsun Nutrition, Ion Labs Inc., Advanta Supplements, etc.
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What are the Key Attributes that Drive the Melatonin Sleep Supplements Market?
Diversity in types of melatonin supplements available in the market increases sales of melatonin sleep supplements.
Work-life imbalance arises several mental conditions like insomnia, short-term anxiety and stress, further expanding the melatonin sleep supplements market share.
The adoption of melatonin sleep supplements ensures proper and regulated sleep-aiding in the prevention of cancer.
Adverse environmental conditions and extreme screen-time before bed upsurge demand for melatonin sleep supplements.
Poor eating habits causing sleep disorders grow the global melatonin sleep supplements market share.
The option of consumption by all age groups drives the sales of melatonin sleep supplements due to common side effects.
The requirement for dietary supplements consequently grows the demand for melatonin sleep supplements.
The production of progenitor cells of granulocytes and macrophages required to stimulate the immunity system escalated the sales of melatonin sleep supplements.
What are the Drawbacks of Melatonin Sleep Supplements?
Lack of awareness on supplement intake causes an overdose, curbing the global melatonin sleep supplements market share.
Growing alternative treatments for insomnia reduces the demand for melatonin sleep supplements.
Strict governmental rules and regulations on prescribed medications such as melatonin supplements can hinder the sales of melatonin sleep supplements.
Trade disruption and border closures during the pandemic hampered the global melatonin sleep supplements market share.
Manufacturing melatonin curtails owing to fluctuating prices of raw materials obstructs melatonin sleep supplements market size.
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What is the Regional Analysis of the Melatonin Sleep Supplements Market?
North America is the leading market occupying about 36.7% of the melatonin sleep supplements market share in 2022 due to the fast pace life and increasing cases of insomnia in youngsters.
Europe is succeeding in the melatonin sleep supplements market share with a CAGR of 18.3% in 2022.
Herbal sleep ailments are high in demand in this region compared to chemical sleep ailments.
The Asia Pacific is anticipated to experience delayed advancements owing to fewer availability of melatonin sleep supplements.
What are the Key Developments of Melatonin Sleep Supplements Market?
Some of the key participants of the U.S. car rental market size are 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.), Matsun Nutrition, Ion Labs Inc., Advanta Supplements, etc.
Some of the recent developments in the melatonin sleep supplements are
- Takeda Pharmaceutical Co. Ltd. announced a partnership and an agreement with Unipharm Inc., in January of 2018.
- Natroll LLC. launched advanced Vitamin B6 sleep tablets with 100% drug free that helps to fall asleep for longer hours.
- In 2020, new melatonin supplements in orange flavour that quickly dissolve in the mouth were launched by Nature’s Bounty Inc.
Key Segments
By Form:
- Powder
- Liquid
- Capsule
By Application
- Sleep Disorders
- Anxiety
- Cancer
By Sales Channel
- Online
- Retail
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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