In 2020, sleep aids is expected to maintain a similar current value growth rate to that seen in previous years of the review period. COVID-19 is expected to make a minor contribution to demand due to stress, anxiety and depression about the virus and the economic fallout from measures taken to control it in the country.
Consumers are reluctant to take OTC sleep aids, and if they do, they do not consume them regularly. Some consumers would rather consult a doctor to get Rx sleep aids.
The government has strict regulations on sleep aids, which means this category has very few players. The government only allows companies which use herbal ingredients to sell OTC sleep aids, since it wants to prevent the misuse of sleep aids as narcotic drugs.
Sleep aids is set to see a rising rate of current value growth over the forecast period, with the forecast period CAGR expected to be higher than the review period CAGR. As was seen throughout the review period, the rates of stress, depression and anxiety are expected to increase in Indonesia over the forecast period, which will impact people’s sleep routine.
Sleep aids are widely available in drugstores/parapharmacies and chemists/pharmacies in the country, with these health and beauty specialist retailers accounting for the highest share of sales in 2020. However, modern grocery retailers also account for a high share of sales; this is expected to rise in the forecast period due to their large attractive outlets and good hygiene measures.
Although sleep aids is expected to see strong current value growth over the forecast period, it is unlikely that more brands will join the competitive environment, due to the limits on the ingredients allowed to be used in OTC sleep aids. In addition, it is a very small category in the context of overall consumer health, which will make it unappealing to new players.
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Understand the latest market trends and future growth opportunities for the Sleep Aids industry in Indonesia 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 Indonesia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Sleep Aids research and analysis database.
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