Global Melatonin Supplements Market Size To Worth USD 9.84 Billion By 2033 | CAGR of 14.82%
Category: HealthcareGlobal Melatonin Supplements Market Size To Worth USD 9.84 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Melatonin Supplements Market Size is Expected to Grow from USD 2.47 Billion in 2023 to USD 9.84 Billion by 2033, at a CAGR of 14.82% during the forecast period 2023-2033.
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Browse key industry insights spread across 250 pages with 130 Market data tables and figures & charts from the report on the " Global Melatonin Supplements Market Size, Share, and COVID-19 Impact Analysis, By Form (Sublingual Pellets, Tablets & Capsules, Liquid, and Others), By Application (Jet Lag, Insomnia, Shift Work Sleep Disorder, and Others), By Distribution Channel (Drug Stores, Supermarkets, Online Retail, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/melatonin-supplements-market
The melatonin supplements market focuses on producing, distributing, and applying melatonin-based dietary supplements to treat sleep disorders, jet lag, and stress-related insomnia. Melatonin, a hormone primarily synthesized in the pineal gland, plays a crucial role in regulating human circadian rhythms and sleep-wake patterns. Melatonin supplements, often synthetically made, can help with conditions like jet lag, delayed sleep-wake phase disorder, some sleep disorders in children, and anxiety before and after surgery. The market for melatonin supplements is growing due to growing global awareness of sleep's importance and the rise in sleep disorders. Factors such as growing awareness of sleep's importance, an increase in sleep disorders, preference for natural sleep aids, aging populations, e-commerce growth, clinical evidence, and scientific research are driving the market's expansion. Companies are creating customized sleep aids combining melatonin with chamomile, magnesium, and valerian root to improve sleep quality. However, alternative sleep aids may impede the market growth.
The tablets and capsules segment held the largest share in 2023 and is predicted to grow at a significant CAGR during the predicted period.
Based on the form, the global melatonin supplements market is categorized as sublingual pellets, tablets & capsules, liquid, and others. Among these, the tablets and capsules segment held the largest share in 2023 and is predicted to grow at a significant CAGR during the predicted period. Segmental expansion is driven by factors such as longer shelf life, improved bioavailability, controlled drug delivery, rapid dissolution rate, patient compliance, improved biopharmaceutical properties, and quicker onset of action.
The insomnia segment accounted for the highest market share in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe.
Based on the application, the global melatonin supplements market is categorized as jet lag, insomnia, shift work sleep disorder, and others. Among these, the insomnia segment accounted for the highest market share in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe. The insomnia segment in the melatonin supplements market is expanding due to factors like rising sleep disorders, natural sleep aids, aging population, scientific research, e-commerce growth, and stress.
The drug stores segment held a substantial share in 2023 and is predicted to grow at a significant CAGR throughout the projected timeframe.
Based on the distribution channel, the global melatonin supplements market is categorized as drug stores, supermarkets, online retail, and others. Among these, the drug stores segment held a substantial share in 2023 and is predicted to grow at a significant CAGR throughout the projected timeframe. Drug stores are key players in the melatonin supplements market, offering easy access to sleep aids through physical stores, expert recommendations, and competitive pricing.
North America is expected to hold the greatest share of the global melatonin supplements market over the forecast period.
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North America is expected to hold the greatest share of the global melatonin supplements market over the forecast period. The North American market for melatonin supplements is expanding due to an aging population, increased sleep disorders, and a preference for natural sleep aids. Prescription drug use is declining, and e-commerce growth is increasing availability. Melatonin supplements are proven to control sleep cycles, and government initiatives are raising awareness about sleep health and supplement safety.
Asia Pacific is predicted to grow at the fastest CAGR throughout the estimated period. The Asia-Pacific melatonin supplement market is expanding due to factors such as an aging population, e-commerce, sleep health awareness, sleep disorders, natural sleep aid preference, scientific research, and clinical evidence. Consumers are increasingly seeking plant-based, non-addictive alternatives, and scientific studies proving melatonin's efficacy in regulating sleep cycles, making supplements more widely available online.
Major key players in the global melatonin supplements market are Vitacost, Natrol, Douglas Laboratories, Life Extension, Puritan’s Pride, Jarrow Formulas, CVS Health, Walgreens, Swanson Health Products, GNC, Country Life Vitamins, Amazing Nutrition, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In April 2024, Vestige Marketing launched two new products, Absorvit Biotin Sublingual Spray and Melatonin Sublingual Spray, under the Vestige Prime brand. These easy-to-use sublingual sprays are designed for individuals experiencing hair loss, thinning, or slow growth. With a 90% absorption rate and advanced delivery system, they promote stronger, shinier hair and are suitable for calorie-conscious individuals due to their low glycemic index.
Market Segment
This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global melatonin supplements market based on the below-mentioned segments:
Global Melatonin Supplements Market, By Form
- Sublingual Pellets
- Tablets & Capsules
- Liquid
- Others
Global Melatonin Supplements Market, By Application
- Jet Lag
- Insomnia
- Shift Work Sleep Disorder
- Others
Global Melatonin Supplements Market, By Distribution Channel
- Drug Stores
- Supermarkets
- Online Retail
- Others
Global Melatonin Supplements Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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