With concerns over COVID-19 and increased stress levels leading to sleeplessness, sleeps aids is expected to register increased value sales in 2020, though from a very small base. Most consumers remain uninterested in these products or unaware of them, with sales limited to affluent urbanites.
Vixa Pharmaceutical and Pfizer (Nature’s Bounty Co) remain among the leading players in sleep aids in 2020. However, there are other brands gaining a foothold, including Puritan’s Pride Melatonin, which has sizeable e-commerce sales.
Though there is expected to be growth in value sales in 2020, due to increased anxiety and sleeplessness due to concerns around COVID-19, value growth will be lower in 2021 as the threat of COVID-19 subsides. However, due to the hectic and increasingly urban lifestyles led by many Nigerians, there will be a demand for sleep aids over the forecast period, though value sales will remain negligible.
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Understand the latest market trends and future growth opportunities for the Sleep Aids industry in Nigeria 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 Nigeria, 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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