Westford,USA, Oct. 19, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the surge in insomnia during recent periods can be attributed to several significant factors in the melatonin market. A notable increase in disposable income, coupled with the expanding number of working professionals, is a direct result of the ongoing processes of industrialization and globalization. These trends have reshaped lifestyles and working patterns, often resulting in heightened stress levels.
Browse in-depth TOC on the "Melatonin Market”
- Pages - 260
- Tables - 89
- Figures – 76
The popularity of the melatonin market, driven by its role in regulating sleep patterns, is experiencing a notable surge. Manufacturers are innovating to introduce new products incorporating melatonin, catering to the growing consumer interest in leveraging this natural compound.
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Prominent Players in Melatonin Market
- Natrol LLC
- Nature's Bounty Inc.
- NOW Foods
- Life Extension
- Pharmavite LLC
- NBTY Inc.
- Kirkland Signature (Costco Wholesale Corporation)
- Puritan's Pride (International Vitamin Corporation)
- GNC Holdings Inc.
- Solgar Inc.
- Douglas Laboratories
- Webber Naturals Inc.
- Source Naturals LLC
- Sundown Naturals (NBTY Inc.)
- Life Brand (Shoppers Drug Mart Corporation)
- The Vitamin Shoppe
- Schiff Nutrition International Inc.
- Biotics Research Corporation
- Garden of Life LLC
- Jarrow Formulas Inc.
Natural Melatonin Segment is Expected to Grow the Market Due to the Inherent Properties
Natural melatonin segment holds a commanding market share and is anticipated to continue its dominance throughout the forecast period in the melatonin market. This prevalence can be attributed to the inherent properties of natural melatonin, which position it as a preferred choice among consumers.
The market in North America has asserted its dominance within the global melatonin market, commanding the largest market share and revenue portion. This commanding position is underpinned by a significant factor—the escalating issue of insomnia in developed nations. Lifestyle challenges and dietary habits in these countries contribute to the prevalence of insomnia, propelling the demand for melatonin-based solutions.
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Synthetic Melatonin Segment is Expected to Dominate the Market Due toObtain Melatonin without the Need for a Prescription
Synthetic melatonin is subject to oversight by the Food and Drug Administration (FDA) as a food supplement rather than being classified as a pharmaceutical product. This classification allows individuals to obtain melatonin without the need for a prescription, making it accessible through medical stores and natural food retailers in the melatonin market.
Regional markets in the Asia Pacific are poised for remarkable growth in the forecast period, driven by a combination of factors. The burgeoning industrialization across several countries in the region, coupled with the rise in disposable income in developing nations, forms a conducive environment for expanding various markets, including the melatonin market.
A comprehensive analysis of the major players in the melatonin market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Melatonin Market
- In 2023, Pfizer Inc. made a significant stride by further strengthening its commitment to the "Agreement for a Healthier World." The company announced its decision to extend its support by providing its complete portfolio of medicines and vaccines, for which it holds global rights, on a not-for-profit basis. This generous move aims to enhance the well-being of a substantial population—1.2 billion individuals in 45 low-income countries.
- In 2022, Natrol introduced an innovative sleep aid named MelatoninMax. This product stands out for its unique presentation as a single gummy, offering a convenient and enjoyable method of consumption. Particularly, each gummy contains the maximum allowable dosage of 10 milligrams (mg) of melatonin.
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Key Questions Answered in Melatonin Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the market, and how these differences shape the market's future growth?
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