Market Size of Melatonin Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 10.00 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Melatonin Market Analysis
The melatonin market is projected to register a CAGR of more than 10% during the forecast period. The market was negatively impacted by COVID-19 in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.
- The growth of the market is likely to be driven by the growing need for melatonin in the medical field.
- On the other hand, government regulations on the use of melatonin in insomnia medicine are expected to hinder the market's growth.
- Melatonin used for medical purposes is expected to lead the market over the next few years.
- North America is expected to have the largest share of the market, with countries like the United States and Canada using the most.
