The melatonin market is estimated to be valued at USD 635.1 million in 2024, exhibiting a CAGR of 9.8% over the forecast period (2024-2031). Melatonin supplements are gaining high traction owing to various health benefits such as promoting better sleep, reducing stress, and enhancing mood. Furthermore, rising awareness about maintaining work-life balance and growing digitalization leading to increased screen-time exposure is boosting insomnia and sleep difficulties across various age groups.
The growth of the global melatonin market is primarily driven by the rising prevalence of sleep disorders worldwide and increasing adoption of dietary supplements. Sleep disorders such as insomnia affect the quality of life and overall health. According to WHO, nearly 30-40% of adults frequently experience insomnia. Growing health consciousness and changing lifestyles are prompting consumers to opt for natural and herbal supplements to manage lifestyle diseases, promoting the demand for melatonin. Additionally, increasing online sales of supplements coupled with the aggressive marketing strategies by manufacturers are also bolstering the market growth.
Increasing Demand for Sleep Aids as a Natural Treatment Drive Melatonin Market Growth
The global melatonin market has seen significant growth in recent years due to the increasing demand for natural and herbal sleep aids. More people are looking for alternatives to prescription sleep medications as they can cause side effects and dependency issues with long term use. Melatonin is a natural hormone produced in the body that helps regulate sleep cycles. Taking melatonin supplements before bed has been shown to help promote better sleep. As sleep issues like insomnia have become more common, people are increasingly turning to melatonin as a safe and natural way to get better quality rest without the risks of medication. This has driven increased sales of melatonin supplements and is a major growth driver for the market.
Growing Awareness of Melatonin Benefits for Jet Lag and Shift Work Drive the Market
In addition to sleep issues, melatonin supplements are commonly used to help overcome the effects of jet lag when traveling across time zones and for shift workers who work nights or irregular hours. The production of melatonin is disrupted when the body's internal clock is thrown off due to changes in light exposure and sleep cycles. Taking exogenous melatonin can help resynchronize circadian rhythms more quickly. Athletes also use melatonin supplements to aid recovery when travelling between competitions. Increased global travel and demands of 24/7 operations have expanded awareness of melatonin benefits beyond sleep. This wider recognition of its uses is another market driver fueling increased sales and market growth.
Lack of Standard Dosing Guidelines and Supplement Quality Control Are Major Restraints
While melatonin is a natural hormone, its supplements are still considered dietary supplements and not drugs. This means they are not regulated to the same extent by governing bodies like the FDA in terms of manufacturing practices and quality controls. There is a lack of consensus on ideal dosing amounts as requirements can vary significantly between individuals. Overdosing on melatonin is possible and may cause side effects like drowsiness, dizziness, or irritability. Inconsistent supplement quality due to poor production practices is also a concern. These regulatory and guidance limitations create uncertainties that act as restraints on the market's potential growth.
Concerns Over Long Term Safety With Chronic Use Hamper Wider Adoption
Unlike medications that require a prescription, melatonin supplements are widely available over the counter for chronic or long-term use without supervision. However, the long term effects of melatonin supplementation remain relatively unknown. More research is still needed to determine if there are any risks associated with consistently taking exogenous melatonin, especially at higher doses, for many months or years. This lack of data on long term safety profile limits its adoption as a permanent treatment and encourages more conservative use. Doctors may be hesitant to widely recommend prolonged usage until there is more clarity, which restricts the potential market.
Emerging Therapeutic Uses In Neurology and Oncology Present Opportunities
Exciting new research is emerging on the potential therapeutic benefits of melatonin beyond sleep applications. Studies indicate that melatonin may help protect brain health due to its antioxidant properties. It shows promise as a neuroprotective agent against conditions such as Alzheimer's and Parkinson's diseases. Melatonin is also being investigated for anti-cancer effects in certain types of tumors. If ongoing clinical trials validate these emerging uses, it could significantly expand the approved treatment scope and commercial opportunities for supplemental melatonin. New therapeutic indications open up opportunities to penetrate high-value medical markets beyond Over-the-Counter (OTC) wellness supplements.
Rising Demographic of Older Population Drives Opportunity
Age is one of the biggest risk factors for many chronic diseases as well as for sleep issues. As worldwide life expectancy increases, the proportion of older individuals is growing rapidly. By 2050, one in six people globally will be over the age of 65. Older adults are more susceptible to neurodegenerative decline, cancer development, and often struggle with insomnia or disrupted circadian rhythms. If research further establishes melatonin safety profile with prolonged use, its accessibility as a dietary supplement position it well to meet the needs of an aging population as both a sleep aid and potential preventative treatment. This substantial demographic tailwind could fuel significant long term market potential.
Link: https://www.coherentmarketinsights.com/market-insight/melatonin-market-4100
Key Developments
- In 2024, Nutremed introduced its newest vitamins and supplements line.
- In 2024, Natrol launched time-release melatonin gummies.
- In 2023, Nutraland USA launched the first melatonin sourced from tomatoes.
- In 2023, Natrol launched the first non-melatonin sleep supplement.
Key Players
Natrol, Pharmative, Nature’s Bounty, Jameison, Rexall Sundown, GNC, Xiu Zheng, Finex OY , Church & Dwight, By-Health, Pfizer, Solgar, Biotics Research, New Food, Neurim Pharmaceuticals Ltd., Pulse Pharmaceuticals Pvt.Ltd., Schiff Nutrition International Inc., Fidia Farmaceutici S.P.A, Joshi Agrochem Pharma, and Neurim Pharmaceuticals pvt.Ltd.
