Growing Awareness Regarding The Benefits Of Sufficient Sleep Among Customers To Bolster Sleep Aid Supplements Market
Sleep Aid Supplements: Overview
In today’s stressful life, getting a good night’s sleep is a challenge. This can also be blamed on technology and the subsequent invention of numerous gadgets such as smartphones, which have become the key factors contributing to sleep deprivation in the society. Insufficient sleep is a major concern in developed countries such as the U.S. A professor from Cornell University quoted that the country’s national sleep debt is far more threatening than its national debt. In a broad perspective, sleep deprivation is a national concern as it decreases a professional’s work efficiency.
But, personally, it can lead to diseases derived from sleep deprivation and can damage one’s health. These concerns are surging the demand for sleep aid supplements among people suffering from sleep deprivation. There are four major kinds of sleep aid supplements available in the market, namely chamomile tea, melatonin, Valerina and Kava. Sleep aid supplements such as melatonin and valerian are even backed up by good scientific evidence.
Sleep Aid Supplements: Dynamics
To meet the rising demand for sleep aid supplements, manufacturers have been introducing a range of sleep aid supplements. Popular ingredients that manufacturers use in their sleep aid supplements include chamomile, hops, L-theanine from green tea and hormone melatonin. With growing awareness regarding the benefits of sufficient sleep among customers, the demand for sleep aid supplements has also been increasing.
The sleep aid supplement market has been witnessing growth since years and is projected to have a positive outlook. Negative publicity from the side-effects of prescription-based sleep aid supplements has reverted customer preference towards natural and herbal sleep aid supplements. Recently, liquid-based sleep aid supplements have also been introduced in the sleep aid supplement market.
Sleep Aid Supplements Market: Prominent Players
Some of the key sleep aid supplement manufacturing companies identified are King, Sanofi Aventis, Sepracor, Pharmacia and Upjohn, Novel Laboratories, Inc., Takeda, Merck, Nutracap Labs, NutraClick, NutraScience Labs and others.
Sleep Aid Supplements Market: Regional Overview
The market for sleep aid supplements foresees a great opportunity in developed regions such as North America where sleep deprivation is observed in a large number of people. Regions such as North America and Europe are estimated to grab the highest share of sales in the sleep aid supplement market. Sale numbers for herbal sleep aid supplements are on the rise when compared with chemical sleep aid supplements in these regions.
This shift towards herbal sleep aid supplements is aided by the negative perception associated with chemical sleep aid supplements, due to their side-effects. Lack of awareness regarding the benefits of sleep aid supplements restrains the sleep aid market growth in regions such as Asia Pacific, Middle East and Africa, despite their high potential for growth.
Sleep Aid Supplements Market: Competitive Analysis
Major manufacturers are significantly investing in research and development in order to develop herbal sleep aid supplements. Research and development along with expansion are among the key strategies being employed by companies to grow in the sleep aid supplement market. For instance, in January, 2018, Takeda Pharmaceutical, Co. Ltd. announced a partnership and an agreement with Unipharm Inc.
This partnership is estimated to benefit Unipharm with the enhanced promotion and sales of products in Russia, a place where Takeda has already established its presence. Such collaborations are estimated to drive the growth of the sleep aid supplements market at a global level.
The sleep aid supplements research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The sleep aid supplements research report provides analysis and information according to market segments such as geographies, type, application, and end use.
Sleep Aid Supplements: Segmentation
On the basis of type, the sleep aid supplement market has been segmented as:
On the basis of nature, the sleep aid supplement market has been segmented as:
On the basis of the manufacturing industry, the sleep aid supplement market has been segmented as:
- Food and Beverage
On the basis of distribution channel, the sleep aid supplement market has been segmented as:
- Specialty store
- Online retailers
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