5-Hydroxytryptophan (5-HTP) is a naturally occurring amino acid, and is a chemical precursor of biosynthetic neurotransmitters serotonin and melatonin. It is used as a dietary supplement, sleep aid, and as an appetite suppressant. Serotonin, also called as 5-hydroxytryptamine (5-HT), is a monoamine neurotransmitter, and is primarily used for regulating mood, sleep, and appetite. Melatonin is a hormone and its effects are produced through the activation of melatonin receptors. Moreover, secretion of melatonin reduces with age and leads to insomnia.
Market in North America projected to maintain its dominance in global melatonin, 5-HTP and serotonin market for next five years
Rise in stress levels of individuals is a key driver for growth of the global melatonin, 5-HTP and serotonin market. In addition, growing awareness about these biological components as dietary supplements, and the lack of side effects are major factors driving growth of the global melatonin, 5-HTP and serotonin market. However, lack of proper international standards for products, and volatility of raw material prices are some key restraints for growth of the global melatonin, 5-HTP and serotonin market.
The global melatonin, 5-HTP and serotonin market report has been segmented on the basis of application, product, and region. On the basis of product, the global melatonin, 5-HTP and serotonin market is segmented into pharmaceutical grade products, and food grade products. On the basis of application into, medicine, dietary supplements, food & beverages, and others. On the basis of region into, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Currently, the market in North America dominates the global market in revenue terms owing to growing awareness about these biological components as dietary supplements, and rising stress levels in the region. Europe is currently the second-largest market due to high healthcare expenditure by governments of countries in the region, and high disposable income. Emerging economies in Asia Pacific such as India, and China are high potential markets for major players operating in the in the melatonin, 5-HTP and serotonin market in the region. However, lack of awareness and standard drug regulations could pose a hindrance for market growth.
Some prominent players in the global melatonin, 5-HTP and serotonin market include, Fidia Farmeceutici Spa, Flynn Pharma Ltd., Aspen Pharmacare Ltd., Linnea SA, Takeda Pharmaceuticals International GmbH, Chemill Inc., Natrol, NatureWise, Cactus Botanics SanHerb Biotech Ltd., and Jiaherb Inc.