The accumulated stress and anxiety produced by a combination of socioeconomic factors has had a major impact on the mental health and stress levels of Chileans during quarantine. Since October 2019, the local population has been increasingly worried about the economic situation, with violent manifestations leading to widespread looting.
COVID-19 has highlighted the widespread prevalence of mental health issues among Chileans that has been silently growing in the country. From anxiety to stress and depression, mental health issues have become the norm due to the increasingly hectic pace of modern life, especially in larger cities.
As part of the preventative health trend that has grown in the country in recent years, herbal solutions are seeing increasing demand in most consumer health categories, with Chileans becoming more aware of the type of products they are taking and the side effects of Rx and some OTC products. Likewise, there are over 100 scientifically recognised plants in Chile with healing properties, with the most popular ones targeting sleeping disorders being relax are lemon balm, boldo and valerian, which are commonly consumed in infusions.
Rising demand as a result of COVID-19 has helped to revive the fortunes of sleep aids, with sales increasing in 2020 after a number of years of declining interest. Over the forecast period, rising anxiety over the current bleak economic situation could further fuel demand for sleep aids.
Over the coming years, sleep aids could benefit from the shift towards working from home. The alteration of daily routines has been one of the main drivers of sleeping disorders during the pandemic, with many Chileans struggling to cope with the vast amount of change.
As the level of health awareness among Chilean consumers rises, interest in natural/herbal ingredients will continue to grow over the coming years. As a result of COVID-19, consumers have realised the importance of self-care and preventative solutions.
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Understand the latest market trends and future growth opportunities for the Sleep Aids industry in Chile 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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