Sleep Aid Supplements Market
Sleep Aid Supplements Market Forecasts to 2030 - Global Analysis By Product (Herbal Supplements, Antihistamines, Melatonin, Glycine and Other Products), Form, Distribution Channel, Application, End User and By Geography
According to Stratistics MRC, the Global Sleep Aid Supplements Market is accounted for $96.2 billion in 2023 and is expected to reach $193.5 billion by 2030 growing at a CAGR of 10.5% during the forecast period. Sleep aid supplements are substances, typically in the form of pills, capsules, or liquids, that are consumed to help improve sleep quality and promote relaxation. These supplements often contain natural ingredients such as herbs, vitamins, minerals, and amino acids that are believed to have calming or sedative effects on the body, helping to alleviate insomnia, reduce anxiety, and induce sleepiness.
According to the U.S. Sleep Association from which, around 30-50% of the people show signs of Insomnia whereas 10-20% have long-lasting insomnia.
Market Dynamics:
Driver:
Growing prevalence of sleep disorders
The market has witnessed a surge in demand due to the growing prevalence of sleep disorders. Factors such as high stress levels, irregular lifestyles, and increased screen time have contributed to rising instances of insomnia and other sleep-related issues. Consequently, consumers are turning to sleep aid supplements as a solution to improve sleep quality and duration. This trend is expected to continue driving growth in the market as more individuals seek effective remedies for their sleep disturbances.
Restraint:
Limited efficacy of some products
While many supplements claim to improve sleep quality, their effectiveness may vary widely among individuals, leading to dissatisfaction among consumers. Additionally, there's a lack of regulation and standardized testing for these products, making it difficult for consumers to discern which ones will truly deliver results. This presents a barrier to market growth and calls for more rigorous research and transparency within the industry.
Opportunity:
Easy availability of products
Sleep aid supplements are increasingly accessible, with a plethora of options readily available in the market. From traditional herbal remedies like valerian root and chamomile to modern formulations incorporating melatonin and magnesium, consumers have a wide array of choices to address their sleep concerns. Additionally, the rise of online retail platforms and health stores ensures easy access to these products, further contributing to their widespread availability and convenience for consumers seeking better sleep solutions.
Threat:
Potential side effects
While these products promise improved sleep quality and duration, adverse reactions such as daytime drowsiness, dizziness, and gastrointestinal discomfort may occur. Some individuals might also experience dependency or tolerance issues with long-term use. Moreover, the interaction of sleep aids with other medications or underlying health conditions underscores the importance of consulting healthcare professionals before usage. Hence, this is the major factor hampering the growth of the market.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the Sleep Aid Supplements Market. With heightened stress, anxiety, and disrupted routines, many individuals experienced sleep disturbances during lockdowns and periods of uncertainty. This led to an increased demand for sleep aid supplements as people sought solutions for improving sleep quality and managing insomnia. Moreover, the growing awareness of the importance of sleep for overall health and well-being further fueled the market's growth, resulting in a notable surge in sales and consumption of sleep aid supplements.
The melatonin segment is expected to be the largest during the forecast period
The melatonin segment is expected to be the largest during the forecast period. Melatonin's popularity stems from its perceived effectiveness in promoting better sleep quality and managing sleep disorders. With increasing consumer interest in natural remedies for sleep issues, manufacturers are formulating supplements with varying melatonin concentrations to cater to different preferences and needs. This trend reflects a growing preference for holistic approaches to addressing sleep disturbances within the wellness industry.
The chronic insomnia segment is expected to have the highest CAGR during the forecast period
The chronic insomnia segment is expected to have the highest CAGR during the forecast period. With an increasing number of individuals seeking relief from sleep disturbances, the demand for effective remedies has surged. Sleep aid supplements, offering natural and non-habit forming solutions, have gained traction among consumers. This trend has prompted manufacturers to innovate and introduce a diverse range of products tailored to address various sleep-related issues, thereby expanding the market for sleep aid supplements.
Region with largest share:
North America is projected to hold the largest market share during the forecast period driven by increasing consumer awareness of the importance of sleep for overall health and well-being. Factors such as high-stress levels and lifestyle changes contribute to the demand for natural and herbal sleep aids. Additionally, technological advancements and innovations in formulations are enhancing product efficacy and safety.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period due to rapid urbanization and hectic lifestyles. The proliferation of e-commerce platforms has significantly contributed to the accessibility of sleep aid supplements in the region. Consumers in the region are increasingly inclined towards natural and herbal sleep aid supplements due to their perceived safety and efficacy.
Key players in the market
Some of the key players in Sleep Aid Supplements market include Pfizer, Novel Laboratories, Inc., Sanofi Aventis, Takeda Pharmaceutical, Philips, Nested Naturals, Sumitomo Dainippon Pharma, NutraScience Labs, Merck & Co. , Sanofi, Sundown Naturals, Nature Made, Nestle Health Science, King Pharmaceuticals, DSM , Johnson & Johnson and ResMed.
Key Developments:
In October 2022, Pfizer Inc. has officially concluded its acquisition of Biohaven Pharmaceutical Holding Company Ltd., the renowned manufacturer of NURTEC ODT (rimegepant).
In August 2022, ResMed has disclosed its successful acquisition of Mementor, a Leipzig-based company. This strategic move bolsters ResMed's comprehensive sleep product offerings in Germany, introducing a digital solution tailored to address insomnia concerns.
Products Covered:
• Herbal Supplements
• Antihistamines
• Melatonin
• Glycine
• Other Products
Forms Covered:
• Powder
• Capsules
• Liquid
• Tablets
• Gummies
• Other Forms
Distribution Channels Covered:
• Specialty Stores
• Online Retailers
• Supermarkets
• Hypermarkets
Applications Covered:
• Occasional Sleeplessness
• Chronic Insomnia
• Jet Lag
• Sleep Apnea
• Other Applications
End Users Covered:
• Food and Beverage
• Pharmaceutical
• Nutraceutical
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Sleep Aid Supplements Market, By Product
5.1 Introduction
5.2 Herbal Supplements
5.3 Antihistamines
5.4 Melatonin
5.5 Glycine
5.6 Other Products
6 Global Sleep Aid Supplements Market, By Form
6.1 Introduction
6.2 Powder
6.3 Capsules
6.4 Liquid
6.5 Tablets
6.6 Gummies
6.7 Other Forms
7 Global Sleep Aid Supplements Market, By Distribution Channel
7.1 Introduction
7.2 Specialty Stores
7.3 Online Retailers
7.4 Supermarkets
7.5 Hypermarkets
8 Global Sleep Aid Supplements Market, By Application
8.1 Introduction
8.2 Occasional Sleeplessness
8.3 Chronic Insomnia
8.4 Jet Lag
8.5 Sleep Apnea
8.6 Other Applications
9 Global Sleep Aid Supplements Market, By End User
9.1 Introduction
9.2 Food and Beverage
9.3 Pharmaceutical
9.4 Nutraceutical
9.5 Other End Users
10 Global Sleep Aid Supplements Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Pfizer
12.2 Novel Laboratories, Inc.
12.3 Sanofi Aventis
12.4 Takeda Pharmaceutical
12.5 Philips
12.6 Nested Naturals
12.7 Sumitomo Dainippon Pharma
12.8 NutraScience Labs
12.9 Merck & Co.
12.10 Sanofi
12.11 Sundown Naturals
12.12 Nature Made
12.12 Nestle Health Science
12.14 King Pharmaceuticals
12.15 DSM
12.16 Johnson & Johnson
12.17 ResMed
List of Tables
1 Global Sleep Aid Supplements Market Outlook, By Region (2021-2030) ($MN)
2 Global Sleep Aid Supplements Market Outlook, By Product (2021-2030) ($MN)
3 Global Sleep Aid Supplements Market Outlook, By Herbal Supplements (2021-2030) ($MN)
4 Global Sleep Aid Supplements Market Outlook, By Antihistamines (2021-2030) ($MN)
5 Global Sleep Aid Supplements Market Outlook, By Melatonin (2021-2030) ($MN)
6 Global Sleep Aid Supplements Market Outlook, By Glycine (2021-2030) ($MN)
7 Global Sleep Aid Supplements Market Outlook, By Other Products (2021-2030) ($MN)
8 Global Sleep Aid Supplements Market Outlook, By Form (2021-2030) ($MN)
9 Global Sleep Aid Supplements Market Outlook, By Powder (2021-2030) ($MN)
10 Global Sleep Aid Supplements Market Outlook, By Capsules (2021-2030) ($MN)
11 Global Sleep Aid Supplements Market Outlook, By Liquid (2021-2030) ($MN)
12 Global Sleep Aid Supplements Market Outlook, By Tablets (2021-2030) ($MN)
13 Global Sleep Aid Supplements Market Outlook, By Gummies (2021-2030) ($MN)
14 Global Sleep Aid Supplements Market Outlook, By Other Forms (2021-2030) ($MN)
15 Global Sleep Aid Supplements Market Outlook, By Distribution Channel (2021-2030) ($MN)
16 Global Sleep Aid Supplements Market Outlook, By Specialty Stores (2021-2030) ($MN)
17 Global Sleep Aid Supplements Market Outlook, By Online Retailers (2021-2030) ($MN)
18 Global Sleep Aid Supplements Market Outlook, By Supermarkets (2021-2030) ($MN)
19 Global Sleep Aid Supplements Market Outlook, By Hypermarkets (2021-2030) ($MN)
20 Global Sleep Aid Supplements Market Outlook, By Application (2021-2030) ($MN)
21 Global Sleep Aid Supplements Market Outlook, By Occasional Sleeplessness (2021-2030) ($MN)
22 Global Sleep Aid Supplements Market Outlook, By Chronic Insomnia (2021-2030) ($MN)
23 Global Sleep Aid Supplements Market Outlook, By Jet Lag (2021-2030) ($MN)
24 Global Sleep Aid Supplements Market Outlook, By Sleep Apnea (2021-2030) ($MN)
25 Global Sleep Aid Supplements Market Outlook, By Other Applications (2021-2030) ($MN)
26 Global Sleep Aid Supplements Market Outlook, By End User (2021-2030) ($MN)
27 Global Sleep Aid Supplements Market Outlook, By Food and Beverage (2021-2030) ($MN)
28 Global Sleep Aid Supplements Market Outlook, By Pharmaceutical (2021-2030) ($MN)
29 Global Sleep Aid Supplements Market Outlook, By Nutraceutical (2021-2030) ($MN)
30 Global Sleep Aid Supplements Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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