5-Hydroxytryptophan (5-HTP), a natural amino acid, is a chemical precursor of biosynthetic neurotransmitters Serotonin and Melatonin. It is used as a dietary supplement, sleep aid, and appetite suppressant and is also marketed for the indication of major depression. In United Kingdom, United States, Australia and Canada, 5-HTP is sold as an over the counter (OTC) product. Serotonin, also called as 5-hydroxytryptamine (5-HT), is a monoamine neurotransmitter and it regulates the mood, sleep and appetite. Melatonin is a hormone and its effects are produced through the activation of melatonin receptors. Secretion of melatonin reduces with age and leads to insomnia. In North America Melatonin is sold as an OTC product and not regulated by FDA, whereas, in Europe and Asia-Pacific it is a prescription drug. A pin-point analysis of the Global Melatonin, 5-HTP and Serotonin Market focuses on various aspects of the market such as market trends, market drivers, restraints and opportunities. The competitive landscape section focuses on key leaders within the Global Melatonin, 5-HTP and Serotonin Market and their major growth strategies. A deep-dive analysis of segments identifies potential segments which would act as a guide for strategists.
Over the past few years, Global Melatonin, 5-HTP and Serotonin Market have witnessed an incredible surge in sales specifically in North America where it is popularly recognized as a dietary supplement with a lack of adverse effects. The major driver for this market is a rise in levels of stress that leads to a decrease in the serotonin level in the individual. However, government regulation, lack of awareness and volatility of raw material price are some of the restraints to this market. Finding new applications of these biological components could potentiate the growth of this market. Emerging economies such as, India and China are also potential opportunities for this market to expand.
Global Melatonin, 5-HTP and Serotonin Market by Application
The Global Melatonin, 5-HTP and Serotonin Market is segmented by application into several categories, such as, Medicine, Dietary supplements, Food & Beverages and others. In terms of revenue and volume of these biological components, the segment of dietary supplement dominates the market. Dietary supplements has proved to be the fastest growing segment for Melatonin due to the growing awareness. Application of Melatonin, 5-HTP and Serotonin in Medicines is the second largest segment followed by food and beverage.
Global Melatonin, 5-HTP and Serotonin Market by Geography
Geographically, Global Melatonin, 5-HTP and Serotonin Market is segmented into North America, Europe, Asia-Pacific and LAMEA. North America dominates the Global Melatonin, 5-HTP and Serotonin Market owing to growing awareness about these biological components as dietary supplements, lack of side effects and rising stress levels. Emerging economies such as, India and China, are potential markets for the expansion of business but lack of awareness and drug regulations could pose a hindrance for growth.
Fidia Farmeceutici Spa, Flynn Pharma Ltd., Aspen Pharmacare Ltd., Linnea SA, Takeda Pharmaceuticals International GmbH, Chemill Inc, Cactus Botanics SanHerb Biotech Ltd., and Jiaherb Inc. are some of the key players of this market. The manufacturers of this market are adopting the strategy of expansion in order to increase their global reach and cater to emerging markets such as Asia-Pacific.
High Level Analysis
A comprehensive analysis of Global Melatonin, 5-HTP and Serotonin Market provides an overview of the market and its key concerns. The market dynamics section covers market drivers, restraints and opportunities within the Global Melatonin, 5-HTP and Serotonin Market and helps in simplifying market behavior. Porter’s Five Forces analysis gives a bird’s eye view on the factors influencing the market profitability. Global Melatonin, 5-HTP and Serotonin industry exhibits a moderate forward integration. A few manufacturers of this market engage in downstream activities to gain a competitive edge in order to retain their customers and market demand. Thus, the bargaining power of the supplier in this industry is moderate. North America region has a substantial threat from new entrants as the product doesn’t require regulatory consideration and sold as OTC. In Asia-pacific and Europe on the other hand, the threat of new entrants is moderate due to regulation of the product as a prescription drug. Industrial rivalry is intense due to consistent efforts of manufacturers to expand their business and enter new markets such as India and China.
This report offers the following benefits:
The Global Melatonin, 5-HTP and Serotonin Market is segmented into two major categories: Application and Geography.
MARKET BY APPLICATION
MARKET BY GEOGRAPHY