Sleep aids continued to record growth in Argentina in 2020, driven by higher incidences of stress and anxiety related to COVID-19 and the contracting economic environment. As uncertainty grows around the pandemic and unemployment, as well as the effects of lockdown measures on loneliness and feelings of isolation, stress levels are likely to increase in 2020, giving rise to greater demand for sleep aids as a result.
Elisium will continue to dominate sleep aids in with its flagship Melatol brand as well as the Melatol Plus subbrand. Elisium leads on the back of an aggressive communication strategy designed to gain brand equity and public awareness.
The Buenas Noches brand from Instituto Seroterápico Argentino SAIC will continue to improve its share in 2020. This is a value-priced brand that has enjoyed a growing presence in both pharmacies and healthfood stores in Buenos Aires.
E-commerce will continue to develop in sleep aids, even if sales remain dominated by health and beauty specialist retailers, primarily chemists/pharmacies. E-commerce sales are being driven by various factors, including the overall migration of consumers to digital retailing due to its convenience and competitive prices, as well as the wide range of products and brands available.
Sleep aids will continue to record strong current value growth over the forecast period, fuelled by the negative local economic environment. Insomnia, a symptom of an underlying sleep disorder, can be caused by psychiatric and medical conditions, but is often triggered when adults feel worried and nervous about economic instability.
Sleep aids sales will continue to be led by domestic companies into the forecast period, with no new companies expected to enter the area in coming years due to the high level of concentration and future legislation to prevent sleep aid products being sold outside pharmacies. Sales will be driven mainly by herbal sleep aids increases taking volume from non-natural sleep aids, with sleep aids expected to remain on a positive growth trajectory over the forecast period.
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Understand the latest market trends and future growth opportunities for the Sleep Aids industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Sleep Aids research and analysis database.
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