While COVID-19 fears are softening consumers are being faced with new challenges and things to be concerned about, from high inflation and the rising cost of food and energy to other potential health concerns such as monkey pox, as well as Russia’s war in Ukraine. While this is likely to lead to sleep disorders remaining prominent it could also see a shift in focus from products targeting better sleep to positioning sleep aids as helping people to relax and unwind.
With health and wellness trend continuing to see exponential growth, the demand for sleep aids continues to grow as consumers look for better sleep. However, the category faces a growing threat from substitute products, namely homoeopathic and herbal ingredients with Californian poppy, corydalis, chamomile, hops, Jamaican dogwood, kava, lavender and valerian root, with some consumers making up their own concoctions, or are drinking herbal tea with calming/relaxing and sleep claims.
While the category is projected to see strong growth over the forecast period, sleep aids will likely still remain the smallest of all the consumer health categories in New Zealand. Innovation and new product launches will likely be needed if sleep aids is to see more significant development over the forecast period.
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Understand the latest market trends and future growth opportunities for the Sleep Aids industry in New Zealand 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 New Zealand, 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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