The global melatonin sleep supplements market is poised for steady growth, fueled by increasing consumer demand for natural sleep aids and the growing prevalence of sleep-related disorders. In 2022, the market size was valued at US$ 474 million and is expected to reach approximately US$ 508.3 million in 2023. Over the forecast period from 2023 to 2033, the market is anticipated to grow at a compound annual growth rate (CAGR) of 7.6%, reaching a valuation of about US$ 1,055.6 million by 2033.
Melatonin, a hormone that regulates the body’s sleep-wake cycle, has gained significant popularity as an over-the-counter supplement for managing insomnia and other sleep disorders. The growing awareness of the health benefits of melatonin supplements, along with their ability to support better sleep without causing dependence, has spurred demand. The supplement is widely used in pharmaceuticals, dietary supplements, and even food and beverage products, thanks to its antioxidant properties that expand its range of applications.
The expansion of e-commerce platforms and a surge in online purchasing behavior have also contributed to the growth of the melatonin sleep supplements market. Consumers seeking convenience, product variety, and easy access to health supplements are driving the growth of online retail channels, providing a significant boost to market sales. Additionally, the increased emphasis on health and wellness, especially in the wake of global health challenges, has led to greater awareness of sleep health, further supporting the demand for melatonin supplements.
A Comprehensive Full Report – https://www.futuremarketinsights.com/reports/melatonin-sleep-supplements-market
Key Takeaways:
- The global melatonin sleep supplements market is projected to grow at a CAGR of 7.6% from 2023 to 2033, reaching a valuation of US$ 1,055.6 million by 2033.
- The market size is expected to increase from US$ 474 million in 2022 to US$ 508.3 million in 2023, reflecting steady growth driven by increased consumer demand for natural sleep aids.
- Melatonin’s antioxidant properties are expanding its application in pharmaceuticals, dietary supplements, and food and beverages, broadening the market’s potential.
- The growth of online retail and e-commerce platforms is boosting the accessibility and sales of melatonin supplements as more consumers turn to digital channels for health and wellness products.
With rising consumer preference for natural and non-addictive sleep solutions, melatonin sleep supplements are expected to witness sustained growth. The role of e-commerce, combined with ongoing innovations in supplement formulations, will further drive market expansion in the coming years.
Competitive Landscape
Some of the Prominent Players Working in the Global Market
- 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.
- Matsun Nutrition
- Ion Labs Inc.
Important Developments of the Key Players in the Market
- 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 help to fall asleep for longer hours.
- In 2020, new melatonin supplements in orange flavor that quickly dissolve in the mouth were launched by Nature’s Bounty Inc.
- In January 2023, Thorne Melaton-3 checks all of the major boxes when it comes to supplements, not only is it NSF Certified for Sport, but it is also a good fit for anyone with food allergies or gluten intolerance as it is free from eight major allergens, including gluten. It is also appropriate for those on a vegan diet. Thorne keeps things simple with only five ingredients, including melatonin, and no unnecessary extras that could increase side effect risks.
- In January 2023, Swanson Melatonin is a quality supplement that is backed by ConsumerLab. The lower dose is perfect for those new to melatonin or who know they feel best with a low dose. Recommendations of picking the low dose that is effective to avoid side effects like next-day grogginess.
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.
- Matsun Nutrition
- Ion Labs Inc.
Key Segments
By Form:
- Powder
- Liquid
- Capsule
By Application:
- Sleep Disorders
- Anxiety
- Cancer
By Sales Channel:
- Online
- Retail
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East & Africa
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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