The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreJun 2014
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The prospects of a good night’s sleep fade away as consumers age, take stimulants or spend more time in the digital world. Consequently, demand for safe and efficacious remedies to help them fall sleep are on the rise. Innovations in formulations and delivery formats bring novel options that help consumers capture precious sleep and companies to generate additional revenue.
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Research findings reveal that while life expectancy is rising across the world, the average number of sleep hours by individuals is actually decreasing.
Newer demands on work, home and social responsibilities along with addictive digital communication and games are contributing to fewer hours of sleep that may affect productivity and health.
As consumers lose or give up precious sleep, they are resorting to convenient coffee, energy drinks and stimulant supplements to keep them awake. Consequently, this situation potentially creates a vicious circle of energy promotion during the day and sleep aids at night that may have an unfortunate toll on health in the form of non-communicable chronic diseases.
Products claiming to help people fall sleep still represent a small portion of retail value within the consumer health space. However, the category shows steady growth and good prospects for increasing demand.
Consumers are seeking “natural” or alternative products made with botanicals or based on traditional use. Companies around the world are introducing more options that meet this particular demand.
The majority of calming and sleeping sales are concentrated in a handful of countries where the promotion of self-care is liberal. In some other countries, insomnia and other sleep disorders are perceived as mental problems and people do not openly talk about them. However, the medical community and public health leaders agree that something needs to be done about the promotion of improved sleep patterns. This is a good time for the industry to develop and drive the category to the next level with safe and efficacious options.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.