Melatonin Industry to Witness Massive Growth (2024-2031) | Natrol LLC, Aspen Australia & Nature's Bounty.

The Melatonin Market is projected to experience significant growth at a high CAGR during the forecast period (2024-2031).

Melatonin is a hormone naturally produced by the body that plays a crucial role in regulating the sleep-wake cycle. It is synthesized in a laboratory for use in treating short-term insomnia and has found applications beyond sleep disorders due to its antioxidant properties. In addition to its role in pharmaceuticals, melatonin is utilized in food and beverages, as well as diet supplements, for its potential health benefits.

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Market Trends:

Growing consumption of the foods & beverages is expected to drive the global melatonin market growth.

The growing demand for melatonin supplements is closely linked to the rising consumption of functional foods and beverages, driven by increased awareness of their health benefits. According to a survey by the National Center for Biotechnology Information (NCBI), about 90% of American adults recognize the advantages of functional foods, contributing to a significant boost in their global sales. In 2018, the Institute of Food Technologists (IFT) reported that total sales of functional foods reached USD 247 billion worldwide.

Additionally, rising consumer expenditure on food products is anticipated to further drive the global melatonin market. The United States Department of Agriculture Economic Research Service noted that in 2019, food spending by U.S. consumers, businesses, and government entities totaled $1.77 trillion. Melatonin supplements are also gaining traction due to their effectiveness in treating sleep disorders. With approximately 70 million Americans experiencing sleep disorders, including chronic and short-term insomnia, the demand for melatonin supplements is expected to grow as they provide relief and support for various sleep-related issues.

Market Segmentation:

By Type: Synthetic Melatonin, Natural Melatonin.

By Application: Medical Industry, Diet Supplement, Construction Industry, Other Applications.

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Major Key Players:

• Natrol LLC
• Aspen Australia
• Nature's Bounty
• Pfizer
• Biotics Research Corporation
• Neurim Pharmaceuticals Ltd
• Pulse Pharmaceuticals Pvt. Ltd
• Flynn Pharma Ltd
• Schiff Nutrition International Inc
• BASF
• Rixing Chemical CO., LTD
• Hangzhou Cherry Pharmaceutical Technology
• Hebei Lvyang Biotechnology Co., Ltd

Regional Analysis:

The global Melatonin Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Melatonin Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

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