The global sleep supplement market is estimated to be valued at USD 7.6 billion in 2024. The market is expected to expand at a CAGR of 5.2% and reach a valuation of USD 12.9 billion by 2034. The demand for melatonin sleep supplements is rising in the global market.
| Data Points | Market Insights |
|---|---|
| Sleep Supplement Market Value 2023 | USD 7.1 billion |
| Estimated Market Value 2024 | USD 7.6 billion |
| Projected Market Value 2034 | USD 12.9 billion |
| Value-based CAGR (2024 to 2034) | 5.5% |
| Market Share of Top 5 Countries | 50.1% |
Consumers are increasingly showing a strong preference for natural and clean products across various categories, including skincare, cosmetics, multivitamins, subscription food services, and sleep aids. This shift in consumer behavior is driven by a desire for healthier alternatives and a heightened awareness of the potential benefits of natural products.
One area that has seen significant growth in consumer interest is better sleep. The ongoing pandemic has caused increased stress and disrupted sleep patterns for many individuals, leading them to seek solutions for improving their sleep quality. In this context, natural sleep aids such as melatonin and app-enabled sleep trackers have gained popularity and are now competing with traditional sleep medications.
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The market for sleep supplements expanded at a CAGR of 5.6% during the forecast period. The demand for sleep supplements increased due to the growing concern for health care.
| Historical Market Valuation, 2023 | USD 7.1 billion |
|---|---|
| HCAGR, 2019 to 2023 | 5.6% |
Epidemiologists acknowledge that obtaining enough sleep is important, but many people find it difficult to fall into deep sleep. Numerous physical and psychological factors, such as stress, sadness, and poor lifestyle choices cause insomnia. The underlying medical illnesses and obesity result in sleep apnea or other sleep disorders, contributing to the market’s growth. Sleep deprivation has been linked to an increased risk of obesity, diabetes, high blood pressure, heart disease, stroke, and depression. However, sleeping aid manufacturers focus on all-natural remedies to explore lucrative opportunities in the sleep supplement market.
The growing need for convenience and compliance is a result of consumers’ growing knowledge of the importance of getting a great sleep. The expanding elderly population and the ease of access to a wide array of products are important drivers of market growth.
The market is set to have an attractive growth outlook over the forecast period. Natural sleep aids like melatonin offer fewer negative side effects than many pharmaceutical medicines commonly given for insomnia such as barbiturates, which can lead to regular usage or addiction.
Natural sleep aids are administered to those with mild or recurrent insomnia because they have no negative side effects. However, it is imperative to continue researching the workings, effectiveness, and side effects of several natural sleep aids.
These above-mentioned factors are expected to boost the market for sleep supplements in the future due to the increased demand for natural sleep aids and supplements to treat sleep disorders.
A lack of knowledge of sleep supplement consumption is expected to have side effects impairing sleep quality. Consuming alcohol along with sleep supplements is making sleeping medications more sedating. The combination has the potential to be quite devastating.
Additionally, the consumption of melatonin for good sleep can cause adverse effects. According to a study, consuming an excess of melatonin might cause an upset stomach making it even harder to fall asleep. Extremely high melatonin levels, however, can be overridden by the body, which will interpret them as an error.
Cumulatively, these factors propose a negative effect on the developmental growth of the sleep supplement market.
| Countries | CAGR (2024 to 2034) |
|---|---|
| United States | 5% |
| India | 3.8% |
| China | 5.1% |
| Germany | 5.8% |
| United Kingdom | 4.5% |
The United States holds a share of 86.3% of the North American Market. The increase in sleep disorder cases among people in the United States is expected to drive the market over the coming years.
Although sleeping should be restful, 35% of Americans find it difficult to get seven or more hours of sleep every night. The lack of sleep has surged the demand for sleep supplements.
India dominates the South Asia region with a total market share of about 44.6% and is expected to grow at a CAGR of 3.8% through 2034.
A lack of sleep can have several negative health effects, including weight gain, diabetes, heart disease, stroke, and memory loss. Workplace productivity may also be impacted. The wellness market in India has grown as lifestyles become busier and more stressful. Additionally, there is an increasing concern to improve an individual’s quality of sleep.
China holds a share of 27.7% of the East Asia market. The country is projected to grow at a CAGR of 5.1% through 2034.
Researchers estimate that around 300 million Chinese people have sleep issues. Young people are especially susceptible to these problems. Nearly half of the people between the ages of 19 and 25 don't go to bed until after midnight.
Germany holds a share of 23.5% of the European market with a market valuation of USD 455.3 billion. The market is expected to record a CAGR of 5.8% over the forecast period.
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| Top Product Type | Melatonin |
|---|---|
| Market Share in 2024 | 35.8% |
The melatonin segment is expected to hold a market share of about 35.8% in 2024.
Melatonin is a hormone that occurs naturally and is essential for the human body's sleep-wake cycle. Essentially, the "N1 Phase" or "light sleep" controls your body's rhythm based on the light surrounding, signaling to the body that darkness is a trigger for night-time behavior.
Therefore, melatonin pills are stated to be an excellent choice for people who have trouble falling asleep or trouble staying asleep.
| Top Dosage Form | Tablets |
|---|---|
| Market Share in 2024 | 41.8% |
The tablets segment accounted for a market share of 41.8% in 2024. As tablet offers a very efficient delivery method, they are highly preferred form of medication for the majority of pharmaceuticals and nutraceuticals. Several meticulously conducted clinical trials over many years have established the dependability and effectiveness of tablets as the dosage form.
| Top Distribution Channel | Retail Pharmacies |
|---|---|
| Market Share in 2024 | 46.5% |
Retail pharmacies are leading the market by distribution channel, holding a share of 46.5% in 2024. Since these sleep supplements are also available on an OTC basis for health benefits, this segment generates significant revenue among the other distribution channels. The segment is set to grow at a CAGR of 5.4% over the forecast period.
In the highly fragmented sleep supplement market, companies are adopting various strategic methods to meet consumer demand, gain a competitive edge, and expand their customer base.
Key developmental strategies employed by industry players include spending on research and development activities to produce supplements from natural sources with reduced or negligible side effects.
Recent Developments in the Sleep Supplement Market
| Attribute | Details |
|---|---|
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD billion for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, UK, Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Turkey, GCC, and South Africa |
| Key Market Segments Covered | Product Type, Source, Dosage form, Indication, Distribution Channel, and Region |
| Key Companies Profiled | Hims & Hers Health, Inc.; Sandland Sleep; Makers Nutrition; OLLY; Galventa; Amorpacific; Wilson Lau; Som Sleep; Fuel 4 Ever; Nature Made; Kao; Spectrum Lifesciences Pvt Ltd.; Wholesome MedTech Pvt Ltd.; NUTRASCIENCE LABS; SMPNutra |
| Pricing | Available upon Request |
The global sleep supplement market was valued at USD 7.1 billion in 2023.
The sleep supplement market is expected to reach USD 12.9 billion by 2034, growing at a 5.5% CAGR over the forecast period.
The primary drivers of the market are increasing awareness about sleep care and attractive dosage forms.
The USA, India, Germany, China, and the United Kingdom are expected to drive demand for the global sleep supplement market.
North America is one of the key markets for sleep supplements, with the USA accounting for a share of 86.3%.
China is leading the East Asia market with a share of 27.7%.
The United States and China are the key producers of sleep supplements.
Oceania has a global market share value of USD 165.3 billion and is expected to grow at a CAGR of 4.6% through 2034.
Hims & Hers Health, Inc., Sandland Sleep, Makers Nutrition, Spectrum Lifesciences Pvt. Ltd., Wholesome MedTech Pvt Ltd, NUTRASCIENCE LABS, SMP Nutra are some of the key players in the sleep supplement industry.
| Estimated Market Size (2024E) | USD 74.3 billion |
|---|---|
| Projected Market Valuation (2034F) | USD 170.1 billion |
| Value-based CAGR (2024 to 2034) | 9.5% |
| Projected Forecast Value (2023) | USD 508.3 million |
|---|---|
| Projected Forecast Value (2033) | USD 1055.6 million |
| CAGR (2023 to 2033) | 7.6% |
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