| | Sleep supplements expected to grow 30% in 2020
Sleep is one of the top categories benefitting from the COVID-19 crisis, with growth this year projected to skyrocket to 30%. This is the latest installment in our data discussion from Nutrition Business Journal’s senior analyst.
It comes as no surprise that we are losing sleep in 2020. In a sleephelp.org survey of nearly 1,000 Americans, 22% of respondents said their sleep quality is worse than usual as a result of COVID-19, and 33% reported that their sleep habits are affected by things occurring in the news. Moreover, there is increased education and awareness around the interconnectedness of sleep, stress and immunity.
Consumers are turning to supplements to get some rest, with sleep supplements projected to grow 30.1% this year, followed closely by mood and stress supplements with 29.8% growth. Growth in the category’s main ingredient, melatonin, had been slumping in recent years, even declining 1% in 2017, but rebounded in 2019 to 14.4% and is projected to have another boost in 2020 to 17.1%. Hemp CBD has really been driving resurging growth, growing 76.5% and passing $100 million in annual sales in 2019 for sleep support alone.
The outlook for the category is positive as well, with the potential to reach $1.4 billion by 2023. While sleep is a top concern this year, interest and sales were growing in sleep products even before the pandemic, with growth of 17.4% in 2019, suggesting this growing awareness could become a long-term trend.
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| | Claire Morton Reynolds
Claire Morton Reynolds is the senior industry analyst for New Hope Network’s Nutrition Business Journal. She manages NBJ’s data and insights to inform the industry on market trends and forecasts in natural and organic food and beverage, functional food and beverage, dietary supplements and personal care. |
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