Coronavirus (COVID-19) is attributed with rising levels of stress and anxiety among Spanish consumers. As a result of a higher incidence of sleep disorders, the demand for sleep aids is growing fast.
The COVID-19 outbreak has forced Spanish consumers to change their modes of interaction, as lockdown and other restrictions necessitate longer hours in the home. As a consequence, consumers are interacting much more and for much longer via technological devices, especially smartphones and computers, than in the past.
Esteve (Dormidina brand) is predicted to consolidate its leadership of sleep aids over 2020 as a whole, with a significant increase in retail value share. Dormidina enjoys high recognition, a good reputation and the trust of consumers.
Sleep aids is projected to see further strong retail volume and value (at constant 2020 prices) growth over the forecast period. Indeed, despite the anticipated spike in growth over 2020 as a whole due to COVID-19, the forecast period is expected to see higher CAGRs compared with the review period.
The fast growth of sleep aids during the review period fostered significant innovation in the category in Spain. The rising incidence of sleep disorders is expected to continue to simulate or enhance interest in innovation among sleep aids manufacturers in the short to medium term.
While already significant, there remains room for the further development and growth of herbal/traditional sleep aids in Spain. In line with the global trend, Spanish consumers are expected to show a growing preference for herbal, natural and organic ranges over their synthetic counterparts.
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Understand the latest market trends and future growth opportunities for the Sleep Aids industry in Spain 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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