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Learn moreNov 2017
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Sleep aids are negatively affected by the streamlining of multinational players. The supply of brands shrinks as companies focus on their best-selling products.
In spite of the increasing need for sleep aids among potential consumers, volume growth continues to decline in 2017. Products in this category are not among the top priorities as household budgets are mostly devoted to food purchases.
All available brands are classified as herbal products; consumers perceived them as natural solutions that cause neither side effects nor dependency, earning their trust. The main ingredients include valerian, lemon balm, purple passionflower, and crataegus oxyacantha.
The category is dominated by domestic companies after PGT Healthcare (Lupassin), Cafar CA (Pasidor), Grunenthal (Nervinetas) and Bayer de Venezuela (Eufytose) withdrew their products from the market. Thanks to this change in the local scene, Meyer Productos Terapeuticos SA increased its lead by continuing to supply two well-established brands under the names Sedival and Equaliv.
Sleep aids remains a small category with only a marginal share of consumer health retail value sales in 2017. Brands tend to be very similar in their positioning and marketing strategies.
Although there might be vitamins and dietary supplements options such as melatonin, supply is not as predominant as for sleep aids and consumers are not yet aware of other sleep aids besides herbal-based ones. Private label for sleep aids is becoming more popular, such as Gotas de Valeriana (Valerian Drops) produced by Laboratorio Recettemark CA for the parapharmacy chain Farmatodo.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Sleep Aids industry in Venezuela with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Sleep Aids industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Consumer Health market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.