The global sleep aid supplements market is experiencing
growth owing to increasing awareness about the importance of sleep
hygiene and its impact on overall health. Lifestyle factors such as
high stress levels, irregular sleep patterns due to modern-day
demands, and the prevalence of sleep disorders are driving the
demand for sleep aid supplements. Additionally, the rise in
availability and accessibility of these supplements through various
distribution channels, including online platforms, is further
fueling market expansion.
WILMINGTON, Del., Aug. 15,
2024 /PRNewswire/ -- Allied Market Research published
a report, titled, "Sleep Aid Supplement Market
by Product Type (Minerals, Vitamin, Melatonin, Valerian Root and Others), Source (Synthetic and
Natural), Dosage Form (Tablets, Capsules, Powders and Liquid), and
Distribution Channel (Retail Pharmacies, Online Pharmacies and
Specialty Stores): Global Opportunity Analysis and Industry
Forecast, 2024-2034". According to the report, the sleep aid
supplement market was valued at $6.8
billion in 2023, and is estimated to reach $11.8 billion by 2034, growing at a CAGR of 5.1%
from 2024 to 2034.
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Prime Determinants of Growth
The sleep aid supplements market is witnessing strong growth
owing to several key factors. Firstly, rising awareness about the
importance of sleep for overall health and well-being has spurred
demand for products that can help improve sleep quality. In
addition, lifestyle factors such as increasing stress levels,
irregular sleep patterns, and the prevalence of electronic devices
affecting sleep hygiene have fueled the need for sleep aid
supplements. Moreover, the growing preference for natural and
holistic approaches to health has driven the demand for herbal and
plant-based sleep aids. Furthermore, the convenience of online
shopping and the availability of a wide range of products through
e-commerce platforms have facilitated market growth by making sleep
aid supplements more accessible to consumers.
Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2034
|
Base
Year
|
2023
|
Market Size in
2023
|
$6.8 Billion
|
Market Size in
2034
|
$11.8
Billion
|
CAGR
|
5.1 %
|
No. of Pages in
Report
|
200
|
Segments
Covered
|
Product Type, Source,
Dosage Form, Distribution Channel, And Region.
|
Drivers
|
Rise In Stress Levels
and Mental Health Issues
|
Increase In Awareness
and Health Consciousness
|
High Prevalence Of
Sleep Disorders
|
Opportunities
|
Expansion Of Online
Retail Channels Allows For Wider Distribution
|
Rise In Disposable
Incomes, Urbanization, And Increasing Awareness About Sleep
Health
|
Restraints
|
Side Effects and
Potential Dependency
|
Stringent Regulations
and Approval Processes
|
Segment Highlights
The melatonin segment experiences a high demand in the
sleep aid supplements market owing to its natural alignment with
the body's sleep-wake cycle and minimal side effects compared to
other sleep aids. It is widely recognized and trusted for its
effectiveness in treating various sleep disorders, including
insomnia and jet lag. The rising preference for natural and
non-habit-forming supplements has further driving its demand.
Additionally, extensive research supports its efficacy, leading to
higher consumer confidence and widespread use. The ease of
accessibility and availability in various formulations, such as
gummies, capsules, and liquids, also contribute to its dominant
market position.
The natural segment is witnessing a high demand owing to
increasing consumer preference for natural and organic products,
driven by concerns about potential side effects associated with
synthetic alternatives. Natural sleep aids, derived from herbs,
plants, and minerals like melatonin, valerian root, and chamomile,
are perceived as safer and gentler options for promoting better
sleep quality without the risk of dependency or adverse reactions.
Additionally, the rising popularity of holistic wellness practices
and the increasing availability of organic and plant-based products
further contribute to the dominance of the natural segment in the
sleep aids supplements market.
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The tablets segment experiences a high demand owing to
convenience and ease of consumption. Tablets offer convenience
and ease of consumption, making them a popular choice among
consumers seeking quick and hassle-free sleep solutions. The
precise dosage and standardized formulation of tablets provide
consistency and reliability, enhancing consumer trust in their
effectiveness. Moreover, tablets are often preferred for their
portability and longer shelf life compared to other dosage forms
like powders or liquids. This widespread preference for tablets
emphasizes their dominant position in the sleep aids supplements
market, catering to the needs of individuals seeking practical and
efficient ways to improve their sleep quality.
The online pharmacies are witnessing a high demand. This is
largely owing to the convenience and accessibility they offer to
consumers seeking sleep aid products. With the rise of e-commerce
and the increasing prevalence of digital shopping platforms, online
pharmacies provide a wide selection of sleep aids supplements that
can be easily browsed and purchased from the comfort of home.
Moreover, online pharmacies often offer competitive pricing,
discounts, and doorstep delivery, appealing to consumers looking
for cost-effective and hassle-free purchasing options. The
convenience, variety, and accessibility of online pharmacies
contribute significantly to their dominance in the sleep aids
supplements market, meeting the evolving needs and preferences of
modern consumers.
Regional Outlook
North America holds the major
market share owing to the high prevalence of sleep disorders, such
as insomnia and sleep apnea, and increased awareness about the
importance of sleep health. The region benefits from significant
healthcare expenditure, a strong presence of key market players,
and a growing consumer inclination towards health and wellness
products. In addition, the aging population and rising stress
levels further drive the demand for sleep aid supplements. The
market is expected to continue growing, with ongoing innovations
and the expansion of e-commerce platforms enhancing accessibility
and convenience for consumers.
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Players
- Natrol, LLC.
- Zarbee's Naturals
- OLLY
- Nature Made
- Sundown Naturals
- GNC
- Pure Encapsulations
- Herbalife
- Swanson Health Products
- Life Extension
The report provides a detailed analysis of these key players in
the global sleep aid supplements market. These players have adopted
different strategies such as new product launches, collaborations,
expansion, joint ventures, and agreements to increase their market
share in different regions. The report is valuable in highlighting
business performance, operating segments, product portfolio, and
strategic moves of market players to showcase the competitive
scenario.
Recent Development
- On May 22, 2024 – Natrol
announced its latest sleep innovation supplement: Time Release
Melatonin gummies. Available in two strengths – 3mg and 10mg –
these time release melatonin gummies are engineered with an
advanced dual action delivery that provides immediate release to
fall asleep and unique extended-release technology to help minimize
wakeups and promote sleep through the night.
- On September 20, 2023 – Natrol
launched its first-ever sleep aid supplement without melatonin,
Soothing Night, made with effective, clinically-tested ingredients
designed to reduce occasional stress and anxiety and promote
longer, better sleep.
- On May 15, 2023, GNC introduces
GNC Preventive Nutrition Sleep Support products that improve
cognitive function with emphasis on sleep, focus, and stress.
- On June 16, 2023, Nature Made
Introduces New Line of Wellblends Supplements which is a range of
sleep products curated with ingredients to address specific sleep
issues—from falling back to sleep to staying asleep longer and
everything in between.
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