New opportunities as sleep-friendly products enter market

GlobalData Consumer 4th February 2020 (Last Updated February 4th, 2020 12:52)
New opportunities as sleep-friendly products enter market

According to GlobalData’s 2019 Q3 survey, a higher proportion of Gen X and Gen Y consumers worldwide are concerned about tiredness / fatigue (79%), as opposed to the retired Silent Generation (58%). This could have a direct correlation to the younger age groups entry into the workforce, as they are at the beginning of their professional careers.

Figure: GlobalData 2019 Q3 global consumer survey. Credit: GlobalData.

There is a growing awareness that people’s diets can make a major impact on sleep patterns. As a result, manufacturers in the past year, such as the sleep-easy ice cream brand Nightfood and sleep-friendly ready-to-drink (RTD) brand Snoooze, have been starting to focus on foods and beverages specially designed to be consumed shortly before bed to improve sleep patterns.

Sleep-friendly products would align well with younger generations’ preferences towards achieving a better night’s sleep, as it more closely addresses their fast-paced lifestyles, compared to the competitors’ low sugar and other less specific functional benefits.

As fast-paced lifestyles throughout the world change dining occasions from family-orientated to more on-the-go, eating socially, eating solo and occasions of skipping meals, sleep is very important to consumers.  With demand for a good night’s sleep kept in mind, sleep-friendly products represent a sizeable opportunity for this trend to go global.