Melatonin supplements are consumed to balance the melatonin deficiency in the body. Since melatonin is responsible for the sleep-wake cycles, the supplements are developed to ease the sleep process, mainly arising due to lack of work life balance, adverse environmental conditions, stress, and anxiety. The rise in consumer awareness regrading sleep requirements and the precautions from insomnia drive the growth of the global melatonin supplements market.
COVID-19 Scenario Analysis:
Production shutdown scenario
Since the industrial production for melatonin supplements could not be executed during the COVID-19 outbreak, this implied a downward surge in the stock of product and declined the revenue for the firm.
Supply chain disruption
The lack of transportation of raw materials and other inputs for the manufacturing and processing of melatonin supplements caused unavailability of adequate inputs. This disruption in supply chain not only hindered the manufacturing but also the supply became insufficient to match the market demand.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The need of the potential consumers is precisely understood by the key market players and thus the development of melatonin supplements gained vigorous popularity. The availability of these supplements in form of tablets and capsules is in alignment with the customer convenience. The changes in hectic schedule is leading to misbalance of work-life and thus various mental conditions arise from short term anxiety and stress for major problems like insomnia. This increases the demand for supplements that can avoid and cure such situations. However, there is an increment in the substitutes for insomnia treatment, and in some regions there persists the lack of awareness of treatment of insomnia that restrains the growth of the global melatonin supplements market.
The global melatonin supplements market trends are as follows:
New product launches to flourish the market
The launch of new products that contain improved capabilities have been launched by leading market players. The key marketers are keen to develop products that serve the consumer requirements as per their convenience and are capable of generating sufficient revenue for the industry.
The introduction of melatonin supplements was ought to serve many sleep related problems including stress, anxiety, lack of proper sleep due to work-life misbalance and even insomnia. A huge amount of population was found suffering from such problems that required specific medial treatment. Melatonin supplements not just cure such ailments but also avoid such conditions from getting worse. As such these supplements can be taken for preventive or medical assistance.
Melatonin in cancer prevention
Cancer is one of the most dangerous and difficult to cure diseases. One of the growing reasons of causing cancer is the lack of proper sleep. It has been researched that the lack of proper sleep is found to cause cancer in many patients across different regions. Hence the consumption of supplements that ensure proper and regular sleep aids as a prevention against cancer.
Also melatonin is said to have such antioxidants that strengthen the white blood cells and help them fight cancer. This has led to an upsurge in the application of melatonin supplements in the medical and healthcare sector. Not just this but melatonin is beneficial in maintaining the eye health, treats ulcers and heartburn etc. These supplements ensure that the insufficiency of melatonin is duly fulfilled and hence offers a healthier lifestyle to customers.
Key Benefits of the Report:
- This study presents the analytical depiction of the global melatonin supplements industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global melatonin supplements market share.
- The current market is quantitatively analyzed to highlight the global melatonin supplements market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global melatonin supplements market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Melatonin supplements Market Research Report:
- What are the leading market players active in the melatonin supplements market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Melatonin Supplements Market Report Highlights
By Distribution Channel
By Industry Vertical
Key Market Players
Nature’s Bounty, Douglas Laboratories, Mason Natural, Nature Made, KAL, Spring Valley, Doctor's Best, GNC, Solaray, Pure Encapsulations, NOW, Solgar, Natural Factors, Source Naturals, Natrol, Jarrow Formulas, Life Extension, Puritan's Pride