Global melatonin market is expected to witness significant growth over the forecast period on account of its increasing demand from pharmaceutical industry. Increasing application scope of melatonin in manufacturing bio-based spray polyurethane foam (SPF), which is extensively used in building insulation, is one of the key factors expected to propel the market growth over the next six years. Furthermore, SPF has been replacing the application of traditional insulators including natural fiber and fiber glass, which is expected to boost melatonin demand over the forecast period. Rising demand from other end-user industries including food & beverage and dietary supplements is further expected to augment the future market growth.
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Melatonin is well known as a natural wonder drug which induces sleep, improves immune system, and reduces the risk of cancer in human beings. On account of aforementioned medicinal properties, melatonin finds numerous applications in medical industry, which is expected to be the key factor to drive the market over the next six years. Moreover, melatonin is marketed as natural medicine in some countries of Europe and Asia Pacific region which is also expected to favor the market growth. In addition, there is no government regulation towards the consumption of melatonin which favors global market growth over the projected period. However, over dosage of melatonin results in some health hazards including drowsiness, affecting alertness and it is more harmful when consumed during pregnancy, which is expected to inhibit the market growth over the next six years.
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Key players in melatonin market include Aspen Pharmacare Holdings, Lapolla Industries, Inc., NCFI Polyurethanes, BASF SE, Flynn Pharma, Natrol, Inc., The Dow Chemical Company, Optimal Health Products, Nutritional Supplement Manufacturers, Inc., Gemini Pharmaceuticals, Alfa Chemical Corp., Spectrum Chemicals & Laboratory Products, Vitamin Power, Inc. and Demilec. Synlait Milk Limited received strong support from DairyNZ in developing and promoting the usage of iNdream3, natural form of melatonin as an ingredient in various products. Aurobindo Pharma Limited has recently announced its acquisition of Natrol Inc., which supplies natural products including melatonin to retailers. This acquisition mainly aimed at creating fully integrated OTC platform in U.S. and other international markets. In addition, Life Extension has recently launched fast acting and sugar free liquid melatonin with natural citrus vanilla flavor.
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