Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Melatonin is a hormone that helps in regulating the sleep-wake cycle and is produced naturally in the body. It is synthetically produced in a laboratory for treating short-term treatment of insomnia. It has antioxidant properties which expand its applications across pharmaceuticals, food & beverages, and dietary supplements.
The global melatonin market is estimated to account for US$ 436.8 Mn in terms of value and 3,039 Tons in terms of volume by the end of 2019.
High demand for a dietary supplement in the U.S. is expected to propel the market growth of the melatonin. Moreover, it can be consumed by an all-age group as it has low side-effects. Increasing health awareness among consumers coupled with the changing lifestyle is expected to foster the demand for a dietary supplement. Thus, the high awareness level of dietary supplement among consumers of the U.S. is projected to augment the market growth of melatonin.
Growth in the food &beverage industry is expected to augment the market growth of the melatonin. Increasing consumer spending on the food products coupled with the growing demand for various food products is expected to propel the market growth of the melatonin. According to the United States Department of Agriculture Economic Research Service, in 2019, food spending by U.S. consumers, businesses and government entities was valued $1.77 trillion.
Figure 1. Global Melatonin Market Share (%) in terms of Value, By Region, in 2019
North America region dominated the global melatonin market in 2019, accounting for 57.4% share in terms of value, followed by Europe and Asia Pacific respectively.
Strict governmental rules and regulations as melatonin tablets are regulated as prescribed drugs is expected to hinder the market growth of the melatonin. Thus, strict regulations associated with the melatonin tablets are projected to restrict the market growth.
Misconception associated with the side-effects of melatonin is projected to restrict the market growth. Moreover, the fluctuating price of raw materials used in the manufacturing of artificial melatonin is expected to restrict the market growth of the melatonin.
Melatonin Market Report Coverage
||Market Size in 2019:
||US$ 436.8 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 764.5 Mn
- North America: U.S., Canada
- Latin America: Brazil, Argentina, Mexico, Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Africa
- By Application: Dietary Supplements, Medicine, Food & Beverages, and Others
Natrol Inc., Neurim Pharmaceuticals Ltd., Pulse Pharmaceuticals Pvt. Ltd., Flynn Pharma Ltd., Fidia Farmaceutici S.P.A., Aspen Pharmacare Holdings Ltd., Schiff Nutrition International Inc., Solal Technologies (Pty) Ltd., Rexall Sundown, Inc., and Bebida Beverage Co.
- High demand for dietary supplements in the U.S. is expected to propel the market growth of the melatonin.
- Growth in the food & beverage industry is expected to augment the market growth of the melatonin market.
|Restraints & Challenges:
- Strict governmental rules and regulations as melatonin tablets are regulated as prescribed drugs is expected to hinder the market growth of the market.
A growing number of pharmacies, multi-specialty stores, clinical centers, and diagnostics center is expected to bring new market opportunities. Rapidly growing prevalence of lifestyle and chronic disease coupled with the changing eating habits of the consumers is propelling demand for immunity booster medicine. This is further expected to augment the market growth of the melatonin over the forecast period.
Increasing use of melatonin in the production of bio-based spray polyurethane foam (SPF) for construction & building insulation is expected to provide potential opportunities in the near future. This is attributed to the growth in the construction industry due to rapidly growing urbanization and industrialization around the globe coupled with the increasing populations. Thus growing demand for melatonin from the construction industry is expected to propel the market growth.
Figure 2. Global Melatonin Market– Opportunity Analysis
Market Trends/Key Takeaways
The growing number of nutrimental supplements in the market is a current trend. Increasing clinical trials in the field of melatonin supplements for reducing chemotherapy and increase the survival period of a cancer patient is another major trend in the market. Also, a growing number of working women and increasing disposable income of the consumers is again anticipated to propel the market growth of the melatonin.
Expanding online retail industry due to the increasing number of user purchasing products from the online platform is a growing trend in the market. This is also attributed to the growing usage of the internet and the online platform offers various schemes and discounts of purchasing for attracting more customers. An increasing number of an online portal that offers various melatonin formulations is again anticipated to augment market growth over the forecast period.
Figure 3. Global Melatonin Market Share (%) in terms of Value, By Application, in 2019
On the basis of application in 2019, the dietary supplements has accounted the largest market share of 49.8% in terms of value, followed by medicine and food & beverage segment respectively.
Global Melatonin Market- Impact of Coronavirus (Covid-19) Pandemic
The sudden outbreak of the novel coronavirus is expected to boost the growth of the melatonin market owing to increase in the demand for sleep-related substitutes globally owing to increase stress and unhealthy lifestyle among the population worldwide. Moreover, it is estimated that the sales of sleeping remedies accounts for over US$ 1.04 billion in the United States in the year 2019-20.
- Natrol, Inc.
- Neurim Pharmaceuticals Ltd.
- Pulse Pharmaceuticals Pvt. Ltd.
- Flynn Pharma Ltd.
- Fidia Farmaceutici S.P.A.
- Aspen Pharmacare Holdings Ltd.
- Schiff Nutrition Internatoional Inc.
- Solal Technologies (Pty) Ltd.
- Rexall Sundown, Inc
- Bebida Beverage Co.