OTC Sleep Aids - US - February 2015
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“Building market share may require more granular outreach to consumers and targeted marketing to address the different needs, interests and concerns of young, active, tech-savvy 18-35-year-olds; busy parents and aging baby boomers. Key opportunities may lie in areas such as promoting natural products, mobilizing the insights offered by wearable fitness trackers and helping consumers create their own personal, flexible plans for getting the most, high quality sleep night after night.”
– Molly Maier, Category Manager, Health & Wellness, Household, Beauty & Personal Care
This report answers the following questions:
Six in 10 people struggle to fall asleep or stay asleep, yet less than one third use OTC sleep aids. This reflects the large potential for growth in the market. The importance of sleep to one’s overall health and wellbeing is increasingly emphasized, which has helped to grow market sales.
This report will explore consumer struggles with sleep, and how new product launches in the OTC sleep category have impacted the market. It will also examine consumer perception of nighttime pain relievers and traditional sleep aids, and consumer preferences for one over the other. Finally, the report will discuss the role that technology, especially wearable fitness trackers and mobile apps, plays in the market.
This report focuses on OTC (over-the-counter) sleep aids that help the user to fall asleep. This report differs from the 2014 report of the same title, as products with a secondary benefit of inducing sleep (such as pain relievers with sleep-inducing ingredients) are included. Prescription sleep aids, and other off-label offerings are discussed within the context of competition from outside the market.
Future growth may hinge on framing sleep aids as a more holistic facet of good health and working with new tools, such as wearable fitness trackers, to help consumers optimize their use of sleep aids. Given consumer concerns with side effects, dependency, and safety, there also may be strong potential to more effectively promote natural and homeopathic sleep aids. Demographic groups such as 18-35-year-olds, women, and non-White consumers offer the best potential for market growth, and appealing to these consumers will be important to the market through 2019 and beyond.
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