The Latest Sleep Supplement Industry Statistics Explained
The global market size for sleep aids has a projected value of $76.7 billion from 2021-2025.
The statistic that the global market size for sleep aids is projected to reach $76.7 billion from 2021 to 2025 indicates a significant and growing demand for products and services aimed at improving sleep quality around the world. This forecasted value suggests that there is a rising awareness of the importance of sleep health and an increasing willingness among consumers to invest in sleep-related solutions. The substantial market size also highlights the potential economic opportunities for businesses operating in the sleep aid industry, including pharmaceutical companies, wellness brands, technology developers, and healthcare providers, to cater to the needs of individuals seeking better sleep outcomes.
The average per capita revenue in the sleep aids market currently stands at $10.32.
The statistic that the average per capita revenue in the sleep aids market is $10.32 means that, on average, each person is spending $10.32 on sleep aids. This figure represents the total revenue generated by the sleep aids market divided by the total population. It provides an understanding of the average amount of money spent by individuals on sleep aids, indicating the level of demand for these products and the potential market size. Analyzing this statistic can help businesses in the sleep aids industry to assess market trends, make pricing decisions, and develop marketing strategies to target consumers effectively.
The growth rate of the market is anticipated to be 4.7% annually until 2025.
This statistic indicates that the market is expected to experience an annual growth rate of 4.7% until the year 2025. This growth rate represents the percentage increase in the market size each year leading up to 2025. It suggests a positive outlook for the market, with the anticipation of steady expansion over the specified period. This information is crucial for businesses and investors to understand the potential opportunities for growth and development within the market in the coming years, helping them make informed decisions and strategic plans to capitalize on this projected growth rate.
Melatonin held the largest market share in 2019, accounting for over 40% of the total revenue.
The statistic indicates that in 2019, the market for sleep aids or supplements was dominated by melatonin, as it held the largest share of total revenue compared to other products in the same category. Specifically, melatonin accounted for over 40% of the entire market’s revenue, highlighting its significant importance and popularity among consumers seeking help with sleep-related issues. This strong market presence suggests that melatonin was the preferred choice for many individuals in 2019 looking for a natural sleep aid option, emphasizing its perceived effectiveness and widespread usage within the sleep aid market during that time period.
Sleep aids are expected to exhibit a CAGR of 5.5% from 2020 to 2027.
This statistic indicates that the market for sleep aids is projected to grow at a Compound Annual Growth Rate (CAGR) of 5.5% from the year 2020 to 2027. A CAGR is a measure used to understand the average annual growth rate of an investment or market over a specified period of time. In this context, it suggests that the demand for sleep aids is anticipated to increase steadily at a rate of 5.5% per year during the forecasted years. This information is valuable for businesses and investors involved in the sleep aid industry as it provides an insight into the expected growth trajectory of the market and can help in strategic decision-making and planning for the future.
North America had the largest market share in 2019, accounting for 39.2% of the global revenue.
The statistic indicates that North America held the largest market share in terms of revenue in 2019, accounting for 39.2% of the total global revenue across all regions. This means that a significant portion of the sales and revenue generated in the industry during that year originated from North American countries. The high market share suggests that North America is a key player in the industry, likely due to factors such as high consumer demand, strong economic performance, technological advancements, or effective marketing strategies. This information can be valuable for businesses looking to enter or expand within this market, as it highlights the importance of the region in driving industry growth and profitability.
Around 83% of adults in the United States claim supplements help them get a good night’s sleep.
The statistic indicates that approximately 83% of adults in the United States believe that taking supplements helps them improve their quality of sleep. This finding suggests a high level of confidence and reliance on supplements among the adult population for addressing sleep-related issues. It implies that a significant portion of individuals view supplements as a viable solution for enhancing their sleep quality, potentially indicating a widespread interest in alternative approaches to managing sleep difficulties beyond traditional methods. Additional research and investigation would be needed to further explore the efficacy and safety of these supplements and to understand the underlying reasons for their perceived effectiveness in promoting better sleep.
Online sales channel is projected to witness the fastest growth rate of 8.4% from 2020 to 2027.
The statement indicates that the online sales channel is expected to experience the most rapid increase in sales over the period from 2020 to 2027, with a projected growth rate of 8.4%. This suggests that consumers are increasingly shifting towards online platforms to make their purchases, reflecting the growing trend of e-commerce. Factors contributing to this growth could include advancements in technology, changing consumer behaviors, and the convenience and accessibility offered by online shopping. The projection of a significant growth rate in online sales highlights the importance for businesses to invest in their online presence and adapt to the evolving landscape of e-commerce to capitalize on this expanding market segment.
Over 40% of Americans report problems with sleep.
The statistic “Over 40% of Americans report problems with sleep” indicates that a substantial portion of the American population experiences difficulties with their sleep patterns. This statistic suggests that sleep issues are prevalent and significant among Americans, which can have various implications on their overall health and well-being. Poor sleep quality or inadequate sleep duration can lead to a range of health problems, such as increased risk for chronic conditions like obesity, diabetes, and cardiovascular diseases, as well as impaired cognitive functioning and mental health issues. Addressing sleep problems and promoting healthy sleep habits may be crucial in improving the overall health and quality of life for a significant portion of the American population.
Sleep supplements market in Asia Pacific is expected to witness the fastest growth over the forecast period.
This statistic suggests that the market for sleep supplements in the Asia Pacific region is projected to experience rapidly increasing demand and revenue over the specified forecast period. Factors such as growing awareness about sleep health, increasing prevalence of sleep-related disorders, changing lifestyles, and rising disposable income levels in the region are likely driving this trend. The expected fastest growth in the Asia Pacific region indicates a significant market opportunity for manufacturers and suppliers of sleep supplements to expand their presence and cater to the market’s increasing needs and preferences for products that promote better sleep and overall well-being.
The holistic institutes segment led the global sleep supplements market with a revenue share of over 35.0% in 2019.
This statistic indicates that in 2019, the segment of holistic institutes had the highest revenue share within the global market for sleep supplements, accounting for over 35.0% of the total market revenue. This suggests that consumers may have been increasingly turning to holistic approaches and products offered by these institutes to address their sleep-related issues. The strong performance of this segment highlights its popularity and the trust consumers place in holistic approaches for improving sleep quality. This information is valuable for stakeholders in the sleep supplements industry, providing insights into market trends and areas of opportunity for growth and strategic decision-making.
Magnesium supplements are widely used as sleep aids, with over a third of adults reporting use.
The statistic “Magnesium supplements are widely used as sleep aids, with over a third of adults reporting use” indicates that a significant portion of the adult population utilizes magnesium supplements to improve their sleep quality. The finding suggests that there is a perceived benefit or belief in the effectiveness of magnesium as a natural remedy for sleep-related issues among adults. It also implies that magnesium supplementation has gained popularity and recognition as a potential aid for promoting better sleep, possibly due to its known role in supporting relaxation and the regulation of neurotransmitters. This statistic highlights the considerable interest and reliance on alternative and complementary therapies, such as magnesium supplements, for addressing sleep disturbances among adults.
Nearly 35% of adults do not get enough sleep (7 hours per day), driving the demand for sleep aids.
The statistic that nearly 35% of adults do not get enough sleep, defined as less than the recommended 7 hours per day, highlights a significant issue in today’s society. Sleep deprivation is a common problem that can lead to various health issues and impact overall well-being. The high prevalence of insufficient sleep among adults signifies a growing demand for sleep aids and interventions to help improve sleep quality and quantity. This statistic underscores the importance of addressing sleep health and promoting better sleep habits to enhance the physical and mental health of individuals.
In 2019, more than 9 million American adults used prescription sleep aids.
The statistic indicates that in the year 2019, over 9 million adults in the United States utilized prescription sleep aids to help them sleep better. This suggests a significant portion of the adult population experienced sleeping difficulties that required medical intervention. The use of prescription sleep aids may reflect underlying factors such as high stress levels, poor sleeping habits, or certain medical conditions that can impact sleep quality. Understanding the prevalence of prescription sleep aid usage can be important for healthcare providers and policymakers to address the growing concerns related to sleep disorders and promote better sleep health among the population.
Over-the-counter sleep aid use raises by about 31% in adults over the age of 60.
The statistic that over-the-counter sleep aid use raises by about 31% in adults over the age of 60 suggests a significant increase in the prevalence of using such medications within this demographic group. This finding may indicate a higher prevalence of sleep disturbances or insomnia among older adults, leading them to seek over-the-counter remedies to help improve their sleep quality. The 31% increase highlights the potential growing reliance on sleep aids, which raises considerations regarding the overall health and well-being of older individuals, as well as potential implications for healthcare systems and strategies to address sleep-related issues in this population. Further research may be needed to understand the underlying reasons for this increase and to explore alternative approaches to managing sleep problems in older adults.
About 4% of U.S adults aged 20 and over used prescription sleep aids in the past month.
The statistic indicates that approximately 4% of adults in the United States who are aged 20 and older reported using prescription sleep aids within the past month. This information offers insight into the prevalence of the use of prescription sleep aids as a method of managing sleep disturbances or disorders among adults in the country. Such data can be useful for understanding the patterns of sleep aid usage within the adult population and for developing strategies to address sleep-related issues effectively. Additionally, this statistic highlights the potential impact of sleep aid prescriptions on public health and may prompt further research and interventions aimed at promoting healthy sleep habits and alternatives to prescription sleep aids.
The largest segment in the sleep aid market is over the counter sleep aids with a market volume of $13,520 million in 2021.
This statistic highlights the prominence of over the counter sleep aids within the sleep aid market, indicating that it is the largest segment in terms of market volume. With a substantial market volume of $13,520 million in 2021, over the counter sleep aids are a popular choice for consumers seeking assistance with sleep-related issues. This suggests a significant demand for easily accessible and non-prescription sleep aid products, potentially driven by factors such as convenience, affordability, and perceived effectiveness. The substantial market volume further underscores the importance and impact of over the counter sleep aids within the broader market landscape.
The market size of Melatonin, a major sleep supplement, in the United States is estimated to surpass USD 1.5 billion by 2025.
The statistic indicates that the market size of Melatonin, a popular sleep supplement, is projected to grow significantly in the United States and exceed USD 1.5 billion by the year 2025. This estimation suggests a strong demand for Melatonin products among consumers seeking help with sleep-related issues. The growth in market size reflects the increasing awareness and importance placed on sleep health and the growing trend of using natural supplements like Melatonin as an alternative to traditional sleep aids. It also highlights the opportunity for businesses operating in the sleep supplement industry to capitalize on this growing market and potentially expand their product offerings to meet the rising demand for Melatonin.
50% of individuals with chronic conditions and who are 65 years and older have reported sleep problems.
The statistic “50% of individuals with chronic conditions who are 65 years and older have reported sleep problems” indicates that half of the older population with chronic health issues experience disturbances in their sleep patterns. This finding suggests a significant prevalence of sleep problems among older individuals with chronic conditions, potentially leading to negative health outcomes and reduced quality of life. Understanding the high proportion of this demographic experiencing sleep issues underscores the importance of addressing these challenges through targeted interventions, such as proper medical management of chronic conditions and promoting healthy sleep habits among older adults.
The most important segment of the global sleep aids market is expected to be sleep laboratories, with a market volume of $1,177 million in 2021.
The statistic suggests that the sleep laboratories segment is anticipated to be the dominant sector within the global sleep aids market in 2021, with a considerable market volume of $1,177 million. This indicates that sleep laboratories, which are facilities that specialize in diagnosing and treating sleep disorders, are poised to play a critical role in the industry due to the growing awareness and prevalence of sleep-related issues. The significant market size reflects the increasing demand for advanced sleep diagnostics and therapies, highlighting the importance of specialized healthcare services in addressing the global burden of sleep disturbances and disorders.
Conclusion
With the increasing focus on health and wellness, the sleep supplement industry is poised for growth as more individuals seek ways to improve their sleep quality. The statistics presented in this blog post highlight the significant market size and potential opportunities within the industry. As research and development continue to drive innovation, we can expect to see even more diverse and effective sleep supplements entering the market in the coming years.
References
0. – https://www.www.statista.com
1. – https://www.www.cdc.gov
2. – https://www.www.grandviewresearch.com
3. – https://www.www.globenewswire.com
4. – https://www.www.sleepfoundation.org
