Despite the COVID-19 vaccine rollout, the threat of variants of the virus and the uncertainty of monkeypox will continue as a vicious circle of stress and sleep deprivation among consumers. Sleep aids have gained greater acceptance among a larger consumer base, and this bodes well for the forecast period, with healthy constant value growth predicted hence.
Whilst sleep aids will continue to see growth in the forecast period, these products will continue to face competition from dietary supplements and cannabidiol (CBD) products. Dietary supplements, including magnesium (which protects metabolic health and stabilises mood) and CBD oil will help broaden consumers’ interest, hampering sleeping aids.
Sleep aids has low income-elasticity, so the potential economic downturn arising from COVID-19’s impact, raw material disruptions and new viruses such as monkeypox is unlikely to affect volume demand significantly but could affect its availability. Although pharmacies will remain the leading sales channel for the distribution of sleep aids, product presence will continue to strengthen, especially as new players from traditional OTC laboratories come across.
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Understand the latest market trends and future growth opportunities for the Sleep Aids industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Sleep Aids industry in Colombia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
These aids include combinations of active ingredients (e.g. diphenhydramine + acetaminophen) and single ingredient (e.g. doxylamine succinate). Herbal remedies made with valerian root, passionflower, and others, are included. This category also tracks melatonin products - a hormone, even if they are classified as a dietary supplement in some countries.
See All of Our DefinitionsThis report originates from Passport, our Sleep Aids research and analysis database.
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