The valuation of the global sleep supplement market was around USD 7.1 billion in 2023 and it is expected to show a CAGR of 5.3% over the forecast period. The market is projected to reach a valuation of USD 12.9 billion by 2034.
- Rising Sleep Supplement Market: The sleep supplement market has been experiencing significant growth in recent years.
- Impact of Lack of Sleep: Insufficient sleep can lead to various physical and psychological issues, including stress, anxiety, poor lifestyle choices, and depression.
- Health Problems Linked to Sleep Disorders: Lack of sleep can cause or exacerbate conditions such as insomnia, primary medical conditions, obesity, sleep apnea, and other sleep disorders.
- Industry Focus: Nutritional supplement manufacturers are focusing on developing and introducing effective sleep supplements.
- Meeting Consumer Demands: These manufacturers aim to create products that effectively meet the growing consumer demand for sleep aids.
- Leveraging Market Growth: By producing high-quality sleep supplements, companies seek to capitalize on the expanding market and drive growth.
- Exploring Attractive Ventures: The sleep supplement industry offers attractive business opportunities for companies willing to innovate and address sleep-related health issues.
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“Supplement manufacturers have started producing a variety of sleep supplements to meet the rising product demand from people suffering from sleep disorders. Natural and herbal sleep aids are becoming popular among customers,” says an analyst at FMI.
Key Takeaways from the Market Study
- Melatonin is the leading segment of the market by product, holding approximately 35.8% market value.
- By source, synthetic sleep supplements are commonly manufactured and are highly adopted by consumers, accounting for a market share of 65.8%.
- Tablets lead the market by dosage form, accounting for a share of 41.8% owing to the ease of availability of OTC medicine and ease of consumption over the other dosage forms.
- Based on the indication, the demand for sleep supplements for treating insomnia accounts for a share of 42.1% of the market.
- Among the distribution channels, retail pharmacies facilitate higher product sales compared to other channels.
Market Competition
As the demand for sleep supplements continues to surge, manufacturers are operating at full capacity to meet the growing consumer needs. This increase in demand can be attributed to a rise in concerns about maintaining a healthy lifestyle and an expanding patient pool seeking solutions for sleep disorders. The market for sleep supplements is characterized by fragmentation, with numerous local, emerging, and established players. These companies are actively engaged in launching new products and expanding their presence within the market.
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Recent Developments
- In September 2022, Amorpacific, under its beauty from within-brand Vital Beautie, a line of skincare and cosmetics from South Korea debuted a sleep aid supplement with a four-year R&D history called Good Sleep GABA 365. The South Korean Ministry of Food and Drug Safety (MFDS) authorized the substance, created by the Amorepacific R&I Center, earlier this year for its safety and effectiveness in enhancing sleep quality with a daily consumption of 375 mg.
- In July 2022, the launch of FAST and SLEEP, the company’s unique flagship products, was announced by family-owned nutritional supplement manufacturer Fuel 4 Ever. These all-natural powder formulas are meticulously created without fillers, colors, or other ingredients, a rarity in the supplement business to support gut health and healthy lives.
Key Market Segments
By Product Type:
- Minerals
- Vitamin
- Melatonin
- Valerian root
- Others
By Source:
- Synthetic
- Natural
By Dosage Form:
- Tablets
- Capsules
- Powders
- Liquid
By Indication:
- Insomnia
- Sleep Apnea
- Narcolepsy
- Other sleep disorders
By Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
- Specialty Stores
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on sleep supplements in its latest study, presenting a historical demand assessment for 2017- 2022 and projections for 2023 – 2033. The global sleep supplement market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on product – (minerals, vitamins, melatonin, valerian root, and others), source (synthetic and natural, by dosage form (tablets, capsules, powders, and liquid), indication (insomnia, sleep apnea, narcolepsy, and other sleep disorders), by distribution channel (retail pharmacies, hospital pharmacies, online pharmacies, and specialty stores), across seven key regions of the world.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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