GlobalData puts the global market for sleeping aids at $1.36 billion as of 2016 with expected growth of 4.1 percent for 2015 to 2020. GlobalData puts the U.S. market for sleeping aids at just under $375 million as of 2016, and projects that this market will expand 3.5 percent for the period from 2015 to 2020. According to a GlobalData, 75% of Americans said their preferred consumption format for health-enhancing ingredients is food; 50% said the same for beverages.
Lightbulb Moment: Sleep is but one spoke on the wheel of cognitive function. If you are engaging sleep, consider what other spokes are connected to the wheel. Stress, focus, energy, relaxation, depression, and memory are all on the wheel and linked to sleep. Why focus on just one when you can play the field? Your biggest competitor is pharmacy which has decades of research on their side. Time to play a bit of catch up and choose your alliances carefully if you’re trying to cut to the front of the line through acquisition or partnership.