Sleep aids was among the most dynamic products in 2020, with high stress levels caused by the uncertainty and economic difficulties associated with the COVID-19 pandemic in Romania causing a boon in sales. Particularly during the lockdown in the first half of the year, many Romanians suffered from insomnia caused by uncertainty about the impact of the global pandemic, unemployment and the lack of social interaction due to the stay at home restrictions.
It is typical for chemists/pharmacies to offer a very wide range of sleep aids, including herbal/traditional sleep aids, and consumers are thus not short of options. Although evidence as to the efficacy of sleep aids with a natural positioning remains mixed, herbal/traditional sleep aids are generally perceived as being gentler, healthier and with fewer side effects, especially valerian and chamomile-based products.
Gedeon Richter will maintain its position as the leading player in sleep aids in 2020, despite seeing a drop in current retail value share. The reason for the company’s strong performance is the reputation that its brand Exigan – a product with valerian extract – has for delivering high quality at reasonable prices.
Awareness about the benefits of sleep aids remains low among Romanians, offering strong potential for growth into the forecast period. According to a study released by RASCI, 26% of Romanians responded that they take no action when they have insomnia, just waiting for it to pass on its own without the help of any products.
Sleep aids may face increasingly competition from dietary supplements into the forecast period, along with alternative herbal products which promote their relaxation and sleep-inducing qualities. Indeed, according to the RASCI study, 26% of Romanians take vitamin products when they have insomnia and 22% of Romanians opted for herbal products, a much larger number than those taking sleep aids.
A further factor behind the positive performance expected in sleep aids over the forecast period is the ageing population, with the number of people over 65 years set to keep rising amid overall population decline. Sales growth will be boosted because elderly people regularly experience difficulty sleeping.
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Understand the latest market trends and future growth opportunities for the Sleep Aids industry in Romania 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 Romania, 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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