Despite the COVID-19 pandemic leading to an increase in stress and anxiety – surrounding the virus itself, as well as job and financial security - growth in over the counter sleep aids is set to remain minor in 2020, although there will be a slight increase compared to 2019. According to the Danish Medicines Agency, 15% of Danes have problems sleeping, and the number is growing.
In Denmark, all non-natural sleep aids are prescription only, which further acts as a barrier for growth, as consumers increasingly question the legitimacy of OTC sleep aids. In addition, prescription sleep aids like melatonin, have seen some growth in recent years, and this is putting pressure on herbal/traditional sleep aids; especially as melatonin has been getting increasing exposure in the media.
Orkla Care A/S is set to continue leading the landscape in 2020, increasing its share during the year to have almost 50% of the landscape. The player benefits from offering the top products with the most sales; Drogens Baldrian and Valerina Nat, as well as selling Futura Baldrian, which is fifth on the landscape.
After a slight boost in growth in 2020, aligned to the increased stress and anxiety bought on by the outbreak of COVID-19, growth for sleep aids is expected to continue increasing in 2021. This will continue to be linked to the outbreak of COVID-19, as many consumers will face economic hardship and various changes in their lives as a consequence of the virus.
Despite positive volume growth predicted for across the forecast period, growth is not set to move higher than 3%. Danish consumers are increasingly interested in more holistic approaches to getting better sleep, rather than taking OTC products, and this is set to stifle growth across the forecast period.
Across the forecast period, sleep aids in Denmark will continue to be sold through chemists/pharmacies; however, the share of this channel is predicted to decline, as e-commerce continues to rise.
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Understand the latest market trends and future growth opportunities for the Sleep Aids industry in Denmark 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.
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This report originates from Passport, our Sleep Aids research and analysis database.
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